Can I retire at age 60 with 987,000?

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 $987,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$81,506$80,780$80,071$79,380$78,705$77,529
2 years$40,349$39,598$38,870$38,163$37,478$36,296
3 years$26,632$25,878$25,151$24,452$23,778$22,626
4 years$19,775$19,023$18,304$17,616$16,959$15,846
5 years$15,662$14,914$14,204$13,531$12,892$11,822
6 years$12,921$12,178$11,479$10,821$10,201$9,175
7 years$10,963$10,227$9,539$8,896$8,296$7,315
8 years$9,496$8,767$8,090$7,463$6,882$5,945
9 years$8,356$7,633$6,968$6,357$5,796$4,903
10 years$7,444$6,728$6,075$5,480$4,938$4,088
11 years$6,698$5,990$5,348$4,769$4,247$3,439
12 years$6,077$5,376$4,746$4,183$3,680$2,914
13 years$5,552$4,858$4,241$3,693$3,209$2,483
14 years$5,102$4,416$3,810$3,278$2,813$2,125
15 years$4,713$4,034$3,440$2,924$2,477$1,827
16 years$4,373$3,701$3,119$2,618$2,189$1,576
17 years$4,073$3,409$2,838$2,352$1,941$1,363
18 years$3,806$3,150$2,591$2,120$1,726$1,181
19 years$3,568$2,919$2,372$1,915$1,538$1,026
20 years$3,355$2,713$2,177$1,735$1,374$893
21 years$3,161$2,527$2,002$1,574$1,230$778
22 years$2,986$2,359$1,845$1,431$1,102$679
23 years$2,826$2,206$1,704$1,304$989$593
24 years$2,679$2,067$1,576$1,189$889$519
25 years$2,545$1,940$1,459$1,086$800$454
26 years$2,421$1,823$1,354$993$721$397
27 years$2,306$1,716$1,257$909$650$348
28 years$2,200$1,617$1,168$833$586$305
29 years$2,101$1,525$1,087$764$530$268
30 years$2,009$1,440$1,013$701$478$235
31 years$1,923$1,362$944$644$433$206
32 years$1,843$1,288$881$591$391$181
33 years$1,768$1,220$823$544$354$159
34 years$1,697$1,156$769$500$321$140
35 years$1,630$1,097$719$461$290$123
36 years$1,568$1,041$672$424$263$108
37 years$1,508$989$629$391$238$95
38 years$1,452$940$589$360$216$84
39 years$1,400$893$552$332$196$73
40 years$1,349$850$517$306$178$65
41 years$1,302$809$485$283$161$57
42 years$1,257$771$455$261$146$50
43 years$1,214$734$427$241$133$44
44 years$1,173$700$401$222$121$39
45 years$1,134$667$376$205$109$34
46 years$1,097$637$354$190$99$30
47 years$1,061$608$332$175$90$26
48 years$1,027$580$312$162$82$23
49 years$995$554$293$150$74$20
50 years$964$529$276$138$68$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $987,000, adding $3,311 every year, while hoping to spend $30,628 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: 48/22/30 Blend
59$987,000$987,000$987,000$987,000
60$1,091,089$1,038,778$1,023,480$1,133,963
61$1,169,792$1,057,090$1,025,178$1,182,860
62$1,255,497$1,075,273$1,025,907$1,232,688
63$1,348,884$1,093,289$1,025,602$1,286,223
64$1,450,705$1,111,094$1,024,194$1,343,831
65$1,561,785$1,128,646$1,021,612$1,405,916
66$1,683,032$1,145,895$1,017,782$1,472,926
67$1,815,449$1,162,791$1,012,625$1,545,352
68$1,960,135$1,179,278$1,006,058$1,623,741
69$2,118,304$1,195,298$997,997$1,708,692
70$2,291,290$1,210,787$988,349$1,800,871
71$2,480,565$1,225,678$977,021$1,901,008
72$2,687,745$1,239,899$963,914$2,009,914
73$2,914,614$1,253,373$948,924$2,128,481
74$3,163,134$1,266,018$931,943$2,257,695
75$3,435,467$1,277,746$912,856$2,398,645
76$3,733,993$1,288,464$891,545$2,552,530
77$4,061,334$1,298,073$867,886$2,720,676
78$4,420,378$1,306,466$841,748$2,904,547
79$4,814,305$1,313,532$812,995$3,105,756
80$5,246,619$1,319,150$781,485$3,326,085
81$5,721,179$1,323,192$747,070$3,567,499
82$6,242,235$1,325,524$709,592$3,832,168
83$6,814,469$1,326,002$668,890$4,122,485
84$7,443,041$1,324,472$624,793$4,441,091
85$8,133,632$1,320,771$577,125$4,790,899
86$8,892,502$1,314,729$525,699$5,175,122
87$9,726,549$1,306,162$470,321$5,597,308
88$10,643,368$1,294,876$410,788$6,061,367
89$11,651,332$1,280,665$346,890$6,571,614
90$12,759,662$1,263,312$278,405$7,132,808
91$13,978,519$1,242,585$205,102$7,750,199
92$15,319,095$1,218,239$126,741$8,429,578
93$16,793,726$1,190,016$43,070$9,177,331
94$18,416,000$1,157,640$0$10,000,500
95$20,200,889$1,120,822$0$10,921,651
96$22,164,890$1,079,253$0$11,950,228
97$24,326,180$1,032,607$0$13,081,968
98$26,704,786$980,541$0$14,327,387
99$29,322,776$922,689$0$15,698,071
100$32,204,466$858,667$0$17,206,793