Can I retire at age 60 with 996,000?

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 $996,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$82,249$81,516$80,801$80,104$79,422$77,502
2 years$40,717$39,959$39,224$38,511$37,820$35,897
3 years$26,875$26,114$25,380$24,675$23,995$22,129
4 years$19,956$19,196$18,470$17,777$17,113$15,319
5 years$15,805$15,050$14,334$13,654$13,009$11,292
6 years$13,039$12,290$11,584$10,919$10,294$8,655
7 years$11,063$10,321$9,626$8,977$8,372$6,811
8 years$9,583$8,847$8,164$7,531$6,945$5,463
9 years$8,432$7,703$7,032$6,415$5,849$4,443
10 years$7,511$6,790$6,130$5,530$4,983$3,653
11 years$6,759$6,044$5,397$4,812$4,286$3,029
12 years$6,132$5,425$4,790$4,221$3,714$2,528
13 years$5,603$4,903$4,279$3,727$3,239$2,121
14 years$5,149$4,456$3,845$3,308$2,839$1,788
15 years$4,756$4,071$3,471$2,950$2,500$1,513
16 years$4,413$3,735$3,147$2,642$2,209$1,284
17 years$4,110$3,440$2,864$2,373$1,959$1,092
18 years$3,841$3,179$2,614$2,139$1,742$931
19 years$3,601$2,946$2,393$1,933$1,552$795
20 years$3,385$2,737$2,197$1,750$1,387$680
21 years$3,190$2,550$2,020$1,589$1,241$582
22 years$3,013$2,380$1,862$1,444$1,112$499
23 years$2,851$2,226$1,719$1,315$998$428
24 years$2,704$2,086$1,590$1,200$897$368
25 years$2,568$1,957$1,473$1,096$808$316
26 years$2,443$1,840$1,366$1,002$727$272
27 years$2,327$1,731$1,268$917$656$234
28 years$2,220$1,631$1,179$840$592$201
29 years$2,120$1,539$1,097$770$534$173
30 years$2,027$1,453$1,022$707$483$149
31 years$1,941$1,374$953$649$437$128
32 years$1,860$1,300$889$597$395$111
33 years$1,784$1,231$830$549$357$95
34 years$1,712$1,167$776$505$324$82
35 years$1,645$1,107$725$465$293$71
36 years$1,582$1,050$678$428$266$61
37 years$1,522$998$635$394$241$53
38 years$1,466$948$595$364$218$45
39 years$1,412$902$557$335$198$39
40 years$1,362$858$522$309$179$34
41 years$1,314$817$490$285$163$29
42 years$1,268$778$459$263$148$25
43 years$1,225$741$431$243$134$22
44 years$1,183$706$404$224$122$19
45 years$1,144$674$380$207$110$16
46 years$1,107$643$357$191$100$14
47 years$1,071$613$335$177$91$12
48 years$1,036$585$315$163$83$10
49 years$1,004$559$296$151$75$9
50 years$972$534$278$140$68$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $996,000, adding $3,830 every year, while hoping to spend $25,552 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: 54/16/30 Blend
59$996,000$996,000$996,000$996,000
60$1,101,543$1,048,755$1,033,317$1,151,621
61$1,186,713$1,072,956$1,040,746$1,210,941
62$1,279,714$1,097,488$1,047,567$1,272,579
63$1,381,318$1,122,338$1,053,734$1,339,189
64$1,492,374$1,147,494$1,059,196$1,411,258
65$1,613,819$1,172,944$1,063,901$1,489,326
66$1,746,681$1,198,670$1,067,794$1,573,986
67$1,892,094$1,224,658$1,070,817$1,665,891
68$2,051,309$1,250,887$1,072,911$1,765,763
69$2,225,699$1,277,337$1,074,010$1,874,397
70$2,416,780$1,303,986$1,074,049$1,992,670
71$2,626,219$1,330,808$1,072,957$2,121,548
72$2,855,852$1,357,777$1,070,660$2,262,098
73$3,107,704$1,384,863$1,067,082$2,415,495
74$3,384,002$1,412,034$1,062,141$2,583,034
75$3,687,201$1,439,254$1,055,754$2,766,143
76$4,020,004$1,466,486$1,047,830$2,966,398
77$4,385,389$1,493,689$1,038,277$3,185,535
78$4,786,637$1,520,818$1,026,998$3,425,468
79$5,227,362$1,547,825$1,013,890$3,688,309
80$5,711,543$1,574,659$998,846$3,976,384
81$6,243,568$1,601,264$981,754$4,292,260
82$6,828,266$1,627,581$962,497$4,638,765
83$7,470,961$1,653,544$940,953$5,019,017
84$8,177,516$1,679,085$916,992$5,436,456
85$8,954,393$1,704,130$890,481$5,894,871
86$9,808,708$1,728,600$861,279$6,398,441
87$10,748,304$1,752,409$829,240$6,951,774
88$11,781,820$1,775,466$794,209$7,559,948
89$12,918,777$1,797,675$756,026$8,228,561
90$14,169,662$1,818,931$714,522$8,963,786
91$15,546,033$1,839,124$669,524$9,772,428
92$17,060,621$1,858,134$620,846$10,661,986
93$18,727,458$1,875,836$568,298$11,640,729
94$20,562,002$1,892,096$511,679$12,717,773
95$22,581,287$1,906,768$450,781$13,903,163
96$24,804,080$1,919,702$385,384$15,207,977
97$27,251,062$1,930,733$315,260$16,644,421
98$29,945,021$1,939,690$240,172$18,225,955
99$32,911,065$1,946,387$159,870$19,967,413
100$36,176,863$1,950,629$74,095$21,885,145