Can I retire at age 60 with 995,000?

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 $995,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$82,166$81,434$80,720$80,023$79,343$76,528
2 years$40,676$39,919$39,185$38,473$37,782$34,976
3 years$26,848$26,087$25,355$24,650$23,971$21,262
4 years$19,935$19,177$18,452$17,759$17,096$14,505
5 years$15,789$15,035$14,319$13,640$12,996$10,530
6 years$13,025$12,277$11,572$10,908$10,283$7,943
7 years$11,052$10,310$9,617$8,968$8,363$6,149
8 years$9,573$8,838$8,156$7,523$6,938$4,848
9 years$8,423$7,695$7,024$6,408$5,843$3,874
10 years$7,504$6,783$6,124$5,524$4,978$3,128
11 years$6,752$6,038$5,392$4,808$4,282$2,545
12 years$6,126$5,420$4,785$4,217$3,710$2,084
13 years$5,597$4,898$4,275$3,723$3,235$1,715
14 years$5,144$4,452$3,841$3,305$2,836$1,417
15 years$4,751$4,067$3,468$2,947$2,497$1,174
16 years$4,408$3,731$3,144$2,639$2,207$976
17 years$4,106$3,436$2,861$2,371$1,957$813
18 years$3,837$3,175$2,612$2,137$1,740$678
19 years$3,597$2,943$2,391$1,931$1,551$567
20 years$3,382$2,735$2,194$1,749$1,385$474
21 years$3,187$2,547$2,018$1,587$1,240$397
22 years$3,010$2,378$1,860$1,443$1,111$333
23 years$2,849$2,224$1,718$1,314$997$279
24 years$2,701$2,084$1,588$1,199$897$234
25 years$2,565$1,955$1,471$1,095$807$197
26 years$2,440$1,838$1,365$1,001$727$165
27 years$2,325$1,730$1,267$916$655$139
28 years$2,218$1,630$1,178$839$591$117
29 years$2,118$1,537$1,096$770$534$98
30 years$2,025$1,452$1,021$706$482$82
31 years$1,939$1,373$952$649$436$69
32 years$1,858$1,299$888$596$394$58
33 years$1,782$1,230$829$548$357$49
34 years$1,711$1,166$775$504$323$41
35 years$1,644$1,106$724$464$293$35
36 years$1,580$1,049$678$428$265$29
37 years$1,521$997$634$394$240$25
38 years$1,464$947$594$363$218$21
39 years$1,411$901$556$335$198$17
40 years$1,360$857$522$309$179$15
41 years$1,312$816$489$285$163$12
42 years$1,267$777$459$263$148$10
43 years$1,223$740$430$243$134$9
44 years$1,182$706$404$224$122$7
45 years$1,143$673$379$207$110$6
46 years$1,105$642$356$191$100$5
47 years$1,070$613$335$177$91$4
48 years$1,035$585$315$163$83$4
49 years$1,003$558$296$151$75$3
50 years$971$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 $995,000, adding $5,625 every year, while hoping to spend $54,199 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: 65/24/11 Blend
59$995,000$995,000$995,000$995,000
60$1,102,292$1,049,557$1,034,135$1,170,900
61$1,157,059$1,043,318$1,011,111$1,211,129
62$1,215,595$1,034,957$985,499$1,248,190
63$1,278,228$1,024,312$957,156$1,287,305
64$1,345,317$1,011,213$925,930$1,328,672
65$1,417,255$995,479$891,665$1,372,507
66$1,494,475$976,917$854,195$1,419,055
67$1,577,450$955,324$813,349$1,468,583
68$1,666,700$930,485$768,947$1,521,391
69$1,762,796$902,172$720,800$1,577,808
70$1,866,367$870,144$668,712$1,638,200
71$1,978,100$834,145$612,478$1,702,975
72$2,098,753$793,905$551,882$1,772,582
73$2,229,158$749,138$486,702$1,847,519
74$2,370,228$699,542$416,703$1,928,339
75$2,522,969$644,797$341,640$2,015,653
76$2,688,485$584,566$261,259$2,110,140
77$2,867,992$518,490$175,292$2,212,549
78$3,062,824$446,194$83,461$2,323,710
79$3,274,452$367,277$0$2,444,543
80$3,504,491$281,318$0$2,577,771
81$3,754,720$187,873$0$2,733,380
82$4,027,094$86,472$0$2,902,845
83$4,323,766$0$0$3,087,583
84$4,647,105$0$0$3,295,334
85$4,999,717$0$0$3,546,859
86$5,384,472$0$0$3,821,374
87$5,804,528$0$0$4,121,141
88$6,263,361$0$0$4,448,648
89$6,764,798$0$0$4,806,637
90$7,313,052$0$0$5,198,124
91$7,912,764$0$0$5,626,430
92$8,569,040$0$0$6,095,214
93$9,287,505$0$0$6,608,503
94$10,074,353$0$0$7,170,732
95$10,936,404$0$0$7,786,785
96$11,881,171$0$0$8,462,042
97$12,916,925$0$0$9,202,426
98$14,052,777$0$0$10,014,464
99$15,298,765$0$0$10,905,341
100$16,665,940$0$0$11,882,974