Can I retire at age 60 with 994,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $994,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$82,084$81,352$80,639$79,943$79,263$76,664
2 years$40,635$39,879$39,145$38,434$37,744$35,151
3 years$26,821$26,061$25,330$24,625$23,947$21,440
4 years$19,915$19,158$18,433$17,741$17,079$14,678
5 years$15,773$15,020$14,305$13,627$12,983$10,695
6 years$13,012$12,265$11,561$10,897$10,273$8,099
7 years$11,041$10,300$9,607$8,959$8,355$6,295
8 years$9,564$8,829$8,147$7,516$6,931$4,984
9 years$8,415$7,687$7,017$6,402$5,837$4,000
10 years$7,496$6,776$6,118$5,518$4,973$3,243
11 years$6,745$6,032$5,386$4,803$4,277$2,651
12 years$6,120$5,414$4,780$4,213$3,707$2,181
13 years$5,591$4,893$4,271$3,719$3,232$1,803
14 years$5,139$4,447$3,837$3,301$2,833$1,497
15 years$4,747$4,063$3,464$2,944$2,495$1,247
16 years$4,404$3,728$3,141$2,636$2,205$1,042
17 years$4,102$3,433$2,858$2,369$1,955$872
18 years$3,833$3,172$2,609$2,135$1,738$731
19 years$3,594$2,940$2,389$1,929$1,549$614
20 years$3,378$2,732$2,192$1,747$1,384$517
21 years$3,184$2,545$2,016$1,585$1,238$435
22 years$3,007$2,375$1,858$1,442$1,110$367
23 years$2,846$2,222$1,716$1,313$996$309
24 years$2,698$2,082$1,587$1,197$896$261
25 years$2,563$1,953$1,470$1,094$806$220
26 years$2,438$1,836$1,363$1,000$726$186
27 years$2,322$1,728$1,266$915$655$157
28 years$2,215$1,628$1,177$839$591$133
29 years$2,116$1,536$1,095$769$533$112
30 years$2,023$1,451$1,020$706$482$95
31 years$1,937$1,371$951$648$436$80
32 years$1,856$1,297$887$596$394$68
33 years$1,780$1,229$828$548$357$58
34 years$1,709$1,165$774$504$323$49
35 years$1,642$1,105$724$464$292$41
36 years$1,579$1,048$677$427$265$35
37 years$1,519$996$634$394$240$30
38 years$1,463$946$593$363$218$25
39 years$1,409$900$556$335$197$21
40 years$1,359$856$521$309$179$18
41 years$1,311$815$489$285$162$15
42 years$1,266$776$458$263$147$13
43 years$1,222$739$430$243$134$11
44 years$1,181$705$404$224$121$9
45 years$1,142$672$379$207$110$8
46 years$1,104$641$356$191$100$7
47 years$1,069$612$334$177$91$6
48 years$1,034$584$314$163$83$5
49 years$1,002$558$295$151$75$4
50 years$970$533$278$139$68$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $994,000, adding $6,412 every year, while hoping to spend $55,413 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 46/36/18 Blend
59$994,000$994,000$994,000$994,000
60$1,102,002$1,049,320$1,033,913$1,146,764
61$1,155,447$1,041,778$1,009,590$1,171,112
62$1,212,487$1,032,009$982,595$1,191,447
63$1,273,428$1,019,845$952,780$1,212,334
64$1,338,610$1,005,109$919,990$1,233,851
65$1,408,402$987,614$884,064$1,256,083
66$1,483,210$967,158$844,831$1,279,130
67$1,563,480$943,531$802,115$1,303,105
68$1,649,700$916,509$755,732$1,328,137
69$1,742,408$885,856$705,487$1,354,372
70$1,842,191$851,321$651,178$1,381,977
71$1,949,697$812,638$592,595$1,411,141
72$2,065,636$769,528$529,517$1,442,077
73$2,190,789$721,692$461,713$1,475,025
74$2,326,012$668,818$388,944$1,510,259
75$2,472,249$610,574$310,957$1,548,082
76$2,630,535$546,609$227,491$1,588,840
77$2,802,009$476,552$138,271$1,632,918
78$2,987,923$400,012$43,012$1,680,751
79$3,189,653$316,574$0$1,732,825
80$3,408,715$225,803$0$1,800,949
81$3,646,772$127,236$0$1,884,015
82$3,905,658$20,386$0$1,974,500
83$4,187,389$0$0$2,073,231
84$4,494,181$0$0$2,218,862
85$4,828,476$0$0$2,386,454
86$5,192,960$0$0$2,569,291
87$5,590,588$0$0$2,768,868
88$6,024,615$0$0$2,986,834
89$6,498,621$0$0$3,225,001
90$7,016,551$0$0$3,485,368
91$7,582,744$0$0$3,770,131
92$8,201,979$0$0$4,081,712
93$8,879,520$0$0$4,422,776
94$9,621,159$0$0$4,796,257
95$10,433,276$0$0$5,205,387
96$11,322,899$0$0$5,653,726
97$12,297,764$0$0$6,145,194
98$13,366,394$0$0$6,684,106
99$14,538,172$0$0$7,275,219
100$15,823,437$0$0$7,923,770