Can I retire at age 60 with 997,000?

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 $997,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$82,331$81,598$80,882$80,184$79,502$76,834
2 years$40,758$39,999$39,263$38,550$37,858$35,197
3 years$26,902$26,140$25,406$24,699$24,019$21,447
4 years$19,976$19,216$18,489$17,795$17,130$14,668
5 years$15,821$15,065$14,348$13,668$13,022$10,676
6 years$13,052$12,302$11,596$10,930$10,304$8,076
7 years$11,075$10,331$9,636$8,986$8,380$6,270
8 years$9,592$8,856$8,172$7,538$6,952$4,958
9 years$8,440$7,710$7,039$6,421$5,855$3,974
10 years$7,519$6,796$6,136$5,535$4,988$3,219
11 years$6,766$6,050$5,402$4,817$4,290$2,628
12 years$6,139$5,431$4,794$4,225$3,718$2,159
13 years$5,608$4,908$4,284$3,730$3,242$1,783
14 years$5,154$4,461$3,849$3,311$2,842$1,478
15 years$4,761$4,075$3,475$2,953$2,502$1,229
16 years$4,417$3,739$3,151$2,644$2,211$1,025
17 years$4,114$3,443$2,867$2,376$1,961$857
18 years$3,845$3,182$2,617$2,141$1,744$718
19 years$3,605$2,949$2,396$1,935$1,554$602
20 years$3,388$2,740$2,199$1,752$1,388$505
21 years$3,193$2,552$2,022$1,590$1,242$425
22 years$3,016$2,383$1,864$1,446$1,113$357
23 years$2,854$2,228$1,721$1,317$999$301
24 years$2,706$2,088$1,592$1,201$898$254
25 years$2,570$1,959$1,474$1,097$808$214
26 years$2,445$1,841$1,367$1,003$728$180
27 years$2,329$1,733$1,270$918$657$152
28 years$2,222$1,633$1,180$841$592$128
29 years$2,122$1,541$1,098$771$535$108
30 years$2,029$1,455$1,023$708$483$91
31 years$1,943$1,375$954$650$437$77
32 years$1,862$1,301$890$597$395$65
33 years$1,785$1,232$831$549$358$55
34 years$1,714$1,168$776$505$324$47
35 years$1,647$1,108$726$465$293$39
36 years$1,583$1,052$679$429$266$33
37 years$1,524$999$636$395$241$28
38 years$1,467$949$595$364$218$24
39 years$1,414$903$558$336$198$20
40 years$1,363$859$523$310$180$17
41 years$1,315$817$490$286$163$14
42 years$1,269$778$460$264$148$12
43 years$1,226$742$431$243$134$10
44 years$1,185$707$405$225$122$9
45 years$1,145$674$380$207$111$7
46 years$1,108$643$357$192$100$6
47 years$1,072$614$335$177$91$5
48 years$1,038$586$315$164$83$4
49 years$1,005$560$296$151$75$4
50 years$973$534$279$140$68$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $997,000, adding $4,261 every year, while hoping to spend $41,515 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: 53/17/30 Blend
59$997,000$997,000$997,000$997,000
60$1,103,089$1,050,248$1,034,795$1,152,081
61$1,171,433$1,057,539$1,025,289$1,193,868
62$1,245,356$1,063,795$1,014,073$1,234,783
63$1,325,384$1,068,923$1,001,046$1,278,504
64$1,412,094$1,072,821$986,102$1,325,317
65$1,506,122$1,075,384$969,131$1,375,540
66$1,608,165$1,076,497$950,016$1,429,526
67$1,718,993$1,076,039$928,636$1,487,663
68$1,839,448$1,073,883$904,863$1,550,382
69$1,970,461$1,069,893$878,565$1,618,162
70$2,113,054$1,063,924$849,604$1,691,530
71$2,268,353$1,055,823$817,832$1,771,071
72$2,437,594$1,045,428$783,099$1,857,433
73$2,622,141$1,032,566$745,245$1,951,331
74$2,823,493$1,017,055$704,104$2,053,557
75$3,043,301$998,702$659,503$2,164,987
76$3,283,381$977,302$611,260$2,286,590
77$3,545,733$952,638$559,185$2,419,436
78$3,832,560$924,479$503,080$2,564,709
79$4,146,286$892,584$442,738$2,723,717
80$4,489,581$856,693$377,943$2,897,908
81$4,865,383$816,536$308,469$3,088,879
82$5,276,930$771,824$234,080$3,298,397
83$5,727,786$722,253$154,531$3,528,413
84$6,221,876$667,499$69,564$3,781,083
85$6,763,524$607,224$0$4,058,787
86$7,357,491$541,065$0$4,370,915
87$8,009,022$468,644$0$4,737,815
88$8,723,892$389,558$0$5,140,498
89$9,508,465$303,381$0$5,582,604
90$10,369,748$209,667$0$6,068,145
91$11,315,462$107,940$0$6,601,545
92$12,354,110$0$0$7,187,681
93$13,495,061$0$0$7,832,359
94$14,748,636$0$0$8,562,960
95$16,126,203$0$0$9,365,932
96$17,640,288$0$0$10,248,587
97$19,304,690$0$0$11,218,984
98$21,134,612$0$0$12,286,000
99$23,146,802$0$0$13,459,417
100$25,359,714$0$0$14,750,009