Can I retire at age 60 with 982,000?

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 $982,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$81,093$80,370$79,666$78,978$78,306$77,780
2 years$40,145$39,397$38,673$37,970$37,289$36,758
3 years$26,497$25,747$25,024$24,328$23,657$23,139
4 years$19,675$18,926$18,211$17,527$16,873$16,370
5 years$15,583$14,839$14,132$13,462$12,826$12,341
6 years$12,855$12,117$11,421$10,766$10,149$9,682
7 years$10,908$10,176$9,491$8,851$8,254$7,805
8 years$9,448$8,722$8,049$7,425$6,847$6,417
9 years$8,313$7,594$6,933$6,325$5,767$5,354
10 years$7,406$6,694$6,044$5,452$4,913$4,519
11 years$6,664$5,959$5,321$4,745$4,226$3,849
12 years$6,046$5,349$4,722$4,162$3,662$3,302
13 years$5,524$4,834$4,219$3,674$3,193$2,851
14 years$5,077$4,394$3,791$3,262$2,799$2,473
15 years$4,689$4,014$3,423$2,909$2,465$2,155
16 years$4,351$3,683$3,103$2,604$2,178$1,884
17 years$4,052$3,392$2,824$2,340$1,931$1,652
18 years$3,787$3,134$2,578$2,109$1,717$1,453
19 years$3,550$2,904$2,360$1,906$1,531$1,280
20 years$3,338$2,699$2,166$1,726$1,367$1,131
21 years$3,145$2,514$1,992$1,566$1,223$1,000
22 years$2,971$2,347$1,836$1,424$1,097$886
23 years$2,811$2,195$1,695$1,297$984$786
24 years$2,666$2,056$1,568$1,183$885$698
25 years$2,532$1,930$1,452$1,080$796$620
26 years$2,408$1,814$1,347$988$717$552
27 years$2,294$1,707$1,251$904$647$491
28 years$2,189$1,608$1,163$828$583$438
29 years$2,090$1,517$1,082$760$527$390
30 years$1,999$1,433$1,008$697$476$348
31 years$1,913$1,355$939$640$430$311
32 years$1,834$1,282$877$588$389$277
33 years$1,759$1,214$818$541$352$248
34 years$1,688$1,150$765$498$319$221
35 years$1,622$1,091$715$458$289$198
36 years$1,560$1,036$669$422$262$177
37 years$1,501$984$626$389$237$158
38 years$1,445$935$586$358$215$142
39 years$1,392$889$549$331$195$127
40 years$1,343$846$515$305$177$113
41 years$1,295$805$483$281$161$101
42 years$1,250$767$453$260$146$91
43 years$1,207$731$425$240$132$81
44 years$1,167$696$399$221$120$73
45 years$1,128$664$374$204$109$65
46 years$1,091$633$352$189$99$58
47 years$1,056$605$330$174$90$52
48 years$1,022$577$311$161$82$47
49 years$990$551$292$149$74$42
50 years$959$526$274$138$67$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $982,000, adding $2,529 every year, while hoping to spend $44,858 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: 51/30/19 Blend
59$982,000$982,000$982,000$982,000
60$1,084,773$1,032,727$1,017,506$1,134,275
61$1,147,691$1,035,602$1,003,864$1,171,541
62$1,215,523$1,037,114$988,261$1,207,186
63$1,288,724$1,037,150$970,585$1,244,980
64$1,367,791$1,035,588$950,717$1,285,141
65$1,453,273$1,032,299$928,533$1,327,914
66$1,545,773$1,027,147$903,905$1,373,567
67$1,645,951$1,019,987$876,695$1,422,402
68$1,754,537$1,010,665$846,764$1,474,750
69$1,872,331$999,019$813,961$1,530,983
70$2,000,213$984,875$778,133$1,591,509
71$2,139,151$968,050$739,117$1,656,784
72$2,290,211$948,351$696,744$1,727,313
73$2,454,564$925,572$650,836$1,803,654
74$2,633,500$899,495$601,210$1,886,428
75$2,828,437$869,891$547,670$1,976,321
76$3,040,937$836,515$490,017$2,074,096
77$3,272,718$799,110$428,038$2,180,594
78$3,525,672$757,402$361,513$2,296,751
79$3,801,879$711,104$290,212$2,423,600
80$4,103,632$659,909$213,896$2,562,286
81$4,433,454$603,496$132,313$2,714,077
82$4,794,121$541,523$45,200$2,880,376
83$5,188,694$473,629$0$3,062,733
84$5,620,538$399,434$0$3,272,549
85$6,093,362$318,536$0$3,512,448
86$6,611,249$230,508$0$3,775,419
87$7,178,696$134,903$0$4,063,846
88$7,800,656$31,246$0$4,380,364
89$8,482,581$0$0$4,727,879
90$9,230,481$0$0$5,136,329
91$10,050,971$0$0$5,595,842
92$10,951,338$0$0$6,100,197
93$11,939,611$0$0$6,653,904
94$13,024,631$0$0$7,261,931
95$14,216,140$0$0$7,929,750
96$15,524,867$0$0$8,663,391
97$16,962,632$0$0$9,469,494
98$18,542,458$0$0$10,355,376
99$20,278,690$0$0$11,329,099
100$22,187,131$0$0$12,399,541