Can I retire at age 60 with 995,000?

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 $995,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$82,166$81,434$80,720$80,023$79,343$79,008
2 years$40,676$39,919$39,185$38,473$37,782$37,445
3 years$26,848$26,087$25,355$24,650$23,971$23,640
4 years$19,935$19,177$18,452$17,759$17,096$16,776
5 years$15,789$15,035$14,319$13,640$12,996$12,686
6 years$13,025$12,277$11,572$10,908$10,283$9,985
7 years$11,052$10,310$9,617$8,968$8,363$8,076
8 years$9,573$8,838$8,156$7,523$6,938$6,662
9 years$8,423$7,695$7,024$6,408$5,843$5,578
10 years$7,504$6,783$6,124$5,524$4,978$4,725
11 years$6,752$6,038$5,392$4,808$4,282$4,039
12 years$6,126$5,420$4,785$4,217$3,710$3,479
13 years$5,597$4,898$4,275$3,723$3,235$3,014
14 years$5,144$4,452$3,841$3,305$2,836$2,625
15 years$4,751$4,067$3,468$2,947$2,497$2,296
16 years$4,408$3,731$3,144$2,639$2,207$2,016
17 years$4,106$3,436$2,861$2,371$1,957$1,775
18 years$3,837$3,175$2,612$2,137$1,740$1,568
19 years$3,597$2,943$2,391$1,931$1,551$1,388
20 years$3,382$2,735$2,194$1,749$1,385$1,231
21 years$3,187$2,547$2,018$1,587$1,240$1,093
22 years$3,010$2,378$1,860$1,443$1,111$973
23 years$2,849$2,224$1,718$1,314$997$867
24 years$2,701$2,084$1,588$1,199$897$773
25 years$2,565$1,955$1,471$1,095$807$691
26 years$2,440$1,838$1,365$1,001$727$617
27 years$2,325$1,730$1,267$916$655$552
28 years$2,218$1,630$1,178$839$591$494
29 years$2,118$1,537$1,096$770$534$443
30 years$2,025$1,452$1,021$706$482$397
31 years$1,939$1,373$952$649$436$356
32 years$1,858$1,299$888$596$394$319
33 years$1,782$1,230$829$548$357$287
34 years$1,711$1,166$775$504$323$257
35 years$1,644$1,106$724$464$293$231
36 years$1,580$1,049$678$428$265$208
37 years$1,521$997$634$394$240$187
38 years$1,464$947$594$363$218$168
39 years$1,411$901$556$335$198$151
40 years$1,360$857$522$309$179$136
41 years$1,312$816$489$285$163$122
42 years$1,267$777$459$263$148$110
43 years$1,223$740$430$243$134$99
44 years$1,182$706$404$224$122$89
45 years$1,143$673$379$207$110$80
46 years$1,105$642$356$191$100$72
47 years$1,070$613$335$177$91$65
48 years$1,035$585$315$163$83$58
49 years$1,003$558$296$151$75$53
50 years$971$533$278$139$68$47

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $995,000, adding $4,086 every year, while hoping to spend $39,688 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: 63/12/25 Blend
59$995,000$995,000$995,000$995,000
60$1,100,705$1,047,970$1,032,547$1,162,547
61$1,170,749$1,057,093$1,024,910$1,213,997
62$1,246,607$1,065,332$1,015,686$1,265,422
63$1,328,831$1,072,603$1,004,782$1,320,712
64$1,418,027$1,078,816$992,097$1,380,252
65$1,514,860$1,083,873$977,527$1,444,467
66$1,620,065$1,087,671$960,963$1,513,823
67$1,734,448$1,090,103$942,291$1,588,838
68$1,858,895$1,091,051$921,391$1,670,082
69$1,994,383$1,090,394$898,139$1,758,185
70$2,141,986$1,087,999$872,402$1,853,842
71$2,302,886$1,083,729$844,045$1,957,823
72$2,478,384$1,077,435$812,925$2,070,973
73$2,669,912$1,068,962$778,890$2,194,230
74$2,879,046$1,058,144$741,786$2,328,626
75$3,107,521$1,044,805$701,448$2,475,302
76$3,357,246$1,028,759$657,705$2,635,516
77$3,630,326$1,009,809$610,379$2,810,657
78$3,929,075$987,746$559,282$3,002,259
79$4,256,043$962,347$504,220$3,212,013
80$4,614,037$933,380$444,989$3,441,786
81$5,006,148$900,595$381,376$3,693,638
82$5,435,781$863,730$313,158$3,969,843
83$5,906,686$822,508$240,104$4,272,910
84$6,422,991$776,634$161,971$4,605,604
85$6,989,245$725,798$78,506$4,970,980
86$7,610,457$669,671$0$5,372,406
87$8,292,144$607,905$0$5,816,416
88$9,040,383$540,133$0$6,326,822
89$9,861,870$465,968$0$6,887,259
90$10,763,979$384,998$0$7,502,794
91$11,754,834$296,792$0$8,179,013
92$12,843,382$200,890$0$8,922,070
93$14,039,484$96,810$0$9,738,748
94$15,353,999$0$0$10,636,523
95$16,798,893$0$0$11,625,740
96$18,387,348$0$0$12,727,373
97$20,133,888$0$0$13,938,721
98$22,054,511$0$0$15,270,891
99$24,166,848$0$0$16,736,121
100$26,490,320$0$0$18,347,893