Can I retire at age 60 with 996,000?

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 $996,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$82,249$81,516$80,801$80,104$79,422$77,377
2 years$40,717$39,959$39,224$38,511$37,820$35,773
3 years$26,875$26,114$25,380$24,675$23,995$22,010
4 years$19,956$19,196$18,470$17,777$17,113$15,206
5 years$15,805$15,050$14,334$13,654$13,009$11,185
6 years$13,039$12,290$11,584$10,919$10,294$8,554
7 years$11,063$10,321$9,626$8,977$8,372$6,717
8 years$9,583$8,847$8,164$7,531$6,945$5,374
9 years$8,432$7,703$7,032$6,415$5,849$4,361
10 years$7,511$6,790$6,130$5,530$4,983$3,576
11 years$6,759$6,044$5,397$4,812$4,286$2,957
12 years$6,132$5,425$4,790$4,221$3,714$2,462
13 years$5,603$4,903$4,279$3,727$3,239$2,061
14 years$5,149$4,456$3,845$3,308$2,839$1,732
15 years$4,756$4,071$3,471$2,950$2,500$1,461
16 years$4,413$3,735$3,147$2,642$2,209$1,236
17 years$4,110$3,440$2,864$2,373$1,959$1,049
18 years$3,841$3,179$2,614$2,139$1,742$891
19 years$3,601$2,946$2,393$1,933$1,552$759
20 years$3,385$2,737$2,197$1,750$1,387$647
21 years$3,190$2,550$2,020$1,589$1,241$552
22 years$3,013$2,380$1,862$1,444$1,112$472
23 years$2,851$2,226$1,719$1,315$998$404
24 years$2,704$2,086$1,590$1,200$897$346
25 years$2,568$1,957$1,473$1,096$808$296
26 years$2,443$1,840$1,366$1,002$727$254
27 years$2,327$1,731$1,268$917$656$218
28 years$2,220$1,631$1,179$840$592$187
29 years$2,120$1,539$1,097$770$534$160
30 years$2,027$1,453$1,022$707$483$137
31 years$1,941$1,374$953$649$437$118
32 years$1,860$1,300$889$597$395$101
33 years$1,784$1,231$830$549$357$87
34 years$1,712$1,167$776$505$324$75
35 years$1,645$1,107$725$465$293$64
36 years$1,582$1,050$678$428$266$55
37 years$1,522$998$635$394$241$47
38 years$1,466$948$595$364$218$41
39 years$1,412$902$557$335$198$35
40 years$1,362$858$522$309$179$30
41 years$1,314$817$490$285$163$26
42 years$1,268$778$459$263$148$22
43 years$1,225$741$431$243$134$19
44 years$1,183$706$404$224$122$16
45 years$1,144$674$380$207$110$14
46 years$1,107$643$357$191$100$12
47 years$1,071$613$335$177$91$10
48 years$1,036$585$315$163$83$9
49 years$1,004$559$296$151$75$8
50 years$972$534$278$140$68$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $996,000, adding $2,483 every year, while hoping to spend $52,353 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: 66/23/11 Blend
59$996,000$996,000$996,000$996,000
60$1,100,153$1,047,365$1,031,927$1,169,965
61$1,156,666$1,042,983$1,010,794$1,212,402
62$1,217,188$1,036,631$987,197$1,252,350
63$1,282,073$1,028,158$961,001$1,294,669
64$1,351,710$1,017,403$932,060$1,339,586
65$1,426,524$1,004,196$900,223$1,387,352
66$1,506,982$988,355$865,334$1,438,246
67$1,593,599$969,688$827,227$1,492,577
68$1,686,937$947,994$785,729$1,550,685
69$1,787,615$923,056$740,662$1,612,949
70$1,896,313$894,647$691,836$1,679,788
71$2,013,779$862,527$639,055$1,751,664
72$2,140,834$826,441$582,112$1,829,091
73$2,278,381$786,118$520,795$1,912,635
74$2,427,412$741,273$454,877$2,002,923
75$2,589,017$691,605$384,125$2,100,652
76$2,764,398$636,795$308,294$2,206,588
77$2,954,874$576,505$227,129$2,321,581
78$3,161,896$510,379$140,363$2,446,571
79$3,387,061$438,039$47,717$2,582,597
80$3,632,127$359,089$0$2,730,809
81$3,899,027$273,107$0$2,898,479
82$4,189,888$179,649$0$3,087,377
83$4,507,051$78,247$0$3,293,485
84$4,853,093$0$0$3,518,558
85$5,230,851$0$0$3,772,528
86$5,643,446$0$0$4,071,610
87$6,094,316$0$0$4,398,498
88$6,587,245$0$0$4,755,944
89$7,126,399$0$0$5,146,976
90$7,716,365$0$0$5,574,930
91$8,362,195$0$0$6,043,478
92$9,069,450$0$0$6,556,666
93$9,844,255$0$0$7,118,946
94$10,693,358$0$0$7,735,224
95$11,624,186$0$0$8,410,903
96$12,644,921$0$0$9,151,931
97$13,764,577$0$0$9,964,862
98$14,993,078$0$0$10,856,914
99$16,341,358$0$0$11,836,038
100$17,821,461$0$0$12,910,992