Can I retire at age 60 with 981,000?

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 $981,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$81,010$80,288$79,584$78,897$78,226$77,766
2 years$40,104$39,357$38,633$37,931$37,251$36,786
3 years$26,470$25,720$24,998$24,303$23,633$23,179
4 years$19,655$18,907$18,192$17,509$16,855$16,415
5 years$15,567$14,823$14,118$13,449$12,813$12,388
6 years$12,842$12,104$11,409$10,755$10,139$9,729
7 years$10,897$10,165$9,481$8,842$8,245$7,852
8 years$9,438$8,714$8,041$7,418$6,840$6,462
9 years$8,305$7,587$6,926$6,318$5,761$5,398
10 years$7,398$6,687$6,038$5,446$4,908$4,562
11 years$6,657$5,953$5,316$4,740$4,221$3,890
12 years$6,040$5,343$4,718$4,157$3,658$3,342
13 years$5,518$4,829$4,215$3,670$3,190$2,888
14 years$5,071$4,389$3,787$3,258$2,796$2,509
15 years$4,684$4,010$3,419$2,906$2,462$2,189
16 years$4,346$3,679$3,100$2,602$2,176$1,917
17 years$4,048$3,388$2,821$2,338$1,929$1,683
18 years$3,783$3,131$2,575$2,107$1,716$1,482
19 years$3,547$2,902$2,357$1,904$1,529$1,308
20 years$3,334$2,696$2,163$1,724$1,366$1,157
21 years$3,142$2,511$1,990$1,565$1,222$1,025
22 years$2,968$2,344$1,834$1,423$1,096$909
23 years$2,808$2,193$1,693$1,296$983$808
24 years$2,663$2,054$1,566$1,182$884$718
25 years$2,529$1,928$1,451$1,079$795$639
26 years$2,406$1,812$1,345$987$716$570
27 years$2,292$1,705$1,249$903$646$508
28 years$2,186$1,607$1,161$828$583$453
29 years$2,088$1,516$1,081$759$526$405
30 years$1,997$1,432$1,007$696$476$362
31 years$1,912$1,353$938$640$430$323
32 years$1,832$1,280$876$588$389$289
33 years$1,757$1,213$818$541$352$259
34 years$1,687$1,149$764$497$319$232
35 years$1,620$1,090$714$458$289$207
36 years$1,558$1,035$668$422$262$186
37 years$1,499$983$625$389$237$166
38 years$1,444$934$586$358$215$149
39 years$1,391$888$549$330$195$134
40 years$1,341$845$514$305$177$120
41 years$1,294$804$482$281$160$107
42 years$1,249$766$452$259$146$96
43 years$1,206$730$424$239$132$86
44 years$1,166$696$398$221$120$77
45 years$1,127$663$374$204$109$69
46 years$1,090$633$351$189$99$62
47 years$1,055$604$330$174$90$56
48 years$1,021$577$310$161$81$50
49 years$989$551$292$149$74$45
50 years$958$526$274$138$67$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $981,000, adding $5,388 every year, while hoping to spend $24,245 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: 39/48/13 Blend
59$981,000$981,000$981,000$981,000
60$1,086,620$1,034,627$1,019,421$1,124,551
61$1,171,658$1,059,527$1,027,775$1,176,880
62$1,264,559$1,084,835$1,035,597$1,230,656
63$1,366,096$1,110,544$1,042,842$1,288,270
64$1,477,126$1,136,649$1,049,465$1,350,081
65$1,598,589$1,163,141$1,055,419$1,416,483
66$1,731,522$1,190,012$1,060,652$1,487,910
67$1,877,065$1,217,250$1,065,111$1,564,840
68$2,036,474$1,244,844$1,068,741$1,647,799
69$2,211,133$1,272,780$1,071,483$1,737,367
70$2,402,567$1,301,044$1,073,275$1,834,184
71$2,612,452$1,329,619$1,074,053$1,938,953
72$2,842,638$1,358,485$1,073,750$2,052,452
73$3,095,159$1,387,624$1,072,293$2,175,534
74$3,372,259$1,417,011$1,069,608$2,309,142
75$3,676,406$1,446,621$1,065,617$2,454,314
76$4,010,323$1,476,429$1,060,238$2,612,195
77$4,377,005$1,506,403$1,053,385$2,784,047
78$4,779,754$1,536,511$1,044,968$2,971,260
79$5,222,206$1,566,718$1,034,892$3,175,366
80$5,708,369$1,596,984$1,023,059$3,398,055
81$6,242,655$1,627,269$1,009,364$3,641,189
82$6,829,928$1,657,527$993,699$3,906,820
83$7,475,543$1,687,709$975,951$4,197,211
84$8,185,404$1,717,762$956,001$4,514,856
85$8,966,013$1,747,630$933,724$4,862,504
86$9,824,533$1,777,251$908,991$5,243,186
87$10,768,857$1,806,558$881,664$5,660,243
88$11,807,683$1,835,482$851,602$6,117,357
89$12,950,591$1,863,945$818,656$6,618,588
90$14,208,140$1,891,867$782,669$7,168,413
91$15,591,961$1,919,159$743,480$7,771,764
92$17,114,872$1,945,729$700,917$8,434,079
93$18,790,994$1,971,475$654,803$9,161,355
94$20,635,889$1,996,290$604,952$9,960,199
95$22,666,701$2,020,060$551,169$10,837,898
96$24,902,324$2,042,662$493,253$11,802,481
97$27,363,574$2,063,966$430,990$12,862,801
98$30,073,391$2,083,832$364,160$14,028,618
99$33,057,048$2,102,111$292,531$15,310,688
100$36,342,398$2,118,646$215,861$16,720,868