Can I retire at age 60 with 991,000?

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 $991,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$81,836$81,107$80,396$79,702$79,024$77,051
2 years$40,513$39,758$39,027$38,318$37,630$35,655
3 years$26,740$25,982$25,253$24,551$23,874$21,959
4 years$19,855$19,100$18,378$17,687$17,027$15,186
5 years$15,725$14,975$14,262$13,586$12,944$11,182
6 years$12,973$12,228$11,526$10,865$10,242$8,561
7 years$11,008$10,269$9,578$8,932$8,330$6,730
8 years$9,535$8,802$8,123$7,493$6,910$5,391
9 years$8,389$7,664$6,996$6,382$5,819$4,379
10 years$7,474$6,755$6,099$5,502$4,958$3,596
11 years$6,725$6,014$5,370$4,788$4,264$2,978
12 years$6,102$5,398$4,766$4,200$3,695$2,482
13 years$5,575$4,878$4,258$3,708$3,222$2,080
14 years$5,123$4,434$3,826$3,291$2,825$1,751
15 years$4,732$4,051$3,454$2,935$2,487$1,479
16 years$4,391$3,716$3,132$2,628$2,198$1,253
17 years$4,089$3,423$2,850$2,362$1,949$1,065
18 years$3,822$3,163$2,601$2,128$1,733$906
19 years$3,583$2,931$2,381$1,923$1,545$773
20 years$3,368$2,724$2,186$1,742$1,380$660
21 years$3,174$2,537$2,010$1,581$1,235$564
22 years$2,998$2,368$1,853$1,437$1,107$483
23 years$2,837$2,215$1,711$1,309$993$414
24 years$2,690$2,075$1,582$1,194$893$355
25 years$2,555$1,948$1,465$1,090$804$304
26 years$2,430$1,830$1,359$997$724$261
27 years$2,315$1,723$1,262$912$653$224
28 years$2,209$1,623$1,173$836$589$193
29 years$2,110$1,531$1,092$767$532$166
30 years$2,017$1,446$1,017$704$480$142
31 years$1,931$1,367$948$646$434$122
32 years$1,850$1,294$885$594$393$105
33 years$1,775$1,225$826$546$356$91
34 years$1,704$1,161$772$502$322$78
35 years$1,637$1,101$721$463$292$67
36 years$1,574$1,045$675$426$264$58
37 years$1,515$993$632$392$239$50
38 years$1,458$943$592$362$217$43
39 years$1,405$897$554$334$197$37
40 years$1,355$854$519$308$179$32
41 years$1,307$812$487$284$162$27
42 years$1,262$774$457$262$147$24
43 years$1,219$737$429$242$133$20
44 years$1,177$703$402$223$121$17
45 years$1,138$670$378$206$110$15
46 years$1,101$639$355$190$100$13
47 years$1,065$610$333$176$91$11
48 years$1,031$582$313$163$82$10
49 years$999$556$295$150$75$8
50 years$968$531$277$139$68$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $991,000, adding $3,011 every year, while hoping to spend $30,795 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: 47/35/18 Blend
59$991,000$991,000$991,000$991,000
60$1,095,188$1,042,665$1,027,304$1,140,945
61$1,174,131$1,060,990$1,028,953$1,191,418
62$1,260,095$1,079,181$1,029,626$1,242,820
63$1,353,762$1,097,198$1,029,256$1,297,956
64$1,455,886$1,115,000$1,027,775$1,357,188
65$1,567,293$1,132,542$1,025,112$1,420,916
66$1,688,895$1,149,775$1,021,192$1,489,579
67$1,821,695$1,166,647$1,015,935$1,563,664
68$1,966,798$1,183,102$1,009,258$1,643,707
69$2,125,418$1,199,081$1,001,076$1,730,299
70$2,298,896$1,214,521$991,297$1,824,093
71$2,488,703$1,229,353$979,825$1,925,810
72$2,696,464$1,243,504$966,562$2,036,246
73$2,923,964$1,256,897$951,403$2,156,278
74$3,173,172$1,269,448$934,239$2,286,875
75$3,446,255$1,281,070$914,955$2,429,104
76$3,745,598$1,291,668$893,431$2,584,147
77$4,073,831$1,301,142$869,543$2,753,303
78$4,433,849$1,309,385$843,160$2,938,010
79$4,828,840$1,316,283$814,144$3,139,850
80$5,262,316$1,321,715$782,352$3,360,573
81$5,738,146$1,325,553$747,635$3,602,108
82$6,260,592$1,327,660$709,836$3,866,582
83$6,834,347$1,327,891$668,790$4,156,342
84$7,464,584$1,326,090$624,328$4,473,980
85$8,156,998$1,322,096$576,270$4,822,352
86$8,917,866$1,315,733$524,429$5,204,610
87$9,754,101$1,306,817$468,610$5,624,232
88$10,673,321$1,295,152$408,610$6,085,052
89$11,683,917$1,280,531$344,215$6,591,303
90$12,795,133$1,262,735$275,204$7,147,649
91$14,017,157$1,241,529$201,343$7,759,238
92$15,361,210$1,216,667$122,391$8,431,748
93$16,839,658$1,187,887$38,095$9,171,439
94$18,466,122$1,154,913$0$9,985,216
95$20,255,613$1,117,451$0$10,890,657
96$22,224,670$1,075,190$0$11,894,654
97$24,391,515$1,027,803$0$12,999,200
98$26,776,225$974,941$0$14,214,566
99$29,400,925$916,238$0$15,552,077
100$32,289,990$851,304$0$17,024,213