Can I retire at age 60 with 997,000?

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 $997,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$82,331$81,598$80,882$80,184$79,502$76,712
2 years$40,758$39,999$39,263$38,550$37,858$35,076
3 years$26,902$26,140$25,406$24,699$24,019$21,333
4 years$19,976$19,216$18,489$17,795$17,130$14,561
5 years$15,821$15,065$14,348$13,668$13,022$10,576
6 years$13,052$12,302$11,596$10,930$10,304$7,982
7 years$11,075$10,331$9,636$8,986$8,380$6,183
8 years$9,592$8,856$8,172$7,538$6,952$4,878
9 years$8,440$7,710$7,039$6,421$5,855$3,900
10 years$7,519$6,796$6,136$5,535$4,988$3,151
11 years$6,766$6,050$5,402$4,817$4,290$2,566
12 years$6,139$5,431$4,794$4,225$3,718$2,102
13 years$5,608$4,908$4,284$3,730$3,242$1,731
14 years$5,154$4,461$3,849$3,311$2,842$1,431
15 years$4,761$4,075$3,475$2,953$2,502$1,187
16 years$4,417$3,739$3,151$2,644$2,211$987
17 years$4,114$3,443$2,867$2,376$1,961$823
18 years$3,845$3,182$2,617$2,141$1,744$687
19 years$3,605$2,949$2,396$1,935$1,554$574
20 years$3,388$2,740$2,199$1,752$1,388$481
21 years$3,193$2,552$2,022$1,590$1,242$403
22 years$3,016$2,383$1,864$1,446$1,113$338
23 years$2,854$2,228$1,721$1,317$999$284
24 years$2,706$2,088$1,592$1,201$898$238
25 years$2,570$1,959$1,474$1,097$808$200
26 years$2,445$1,841$1,367$1,003$728$168
27 years$2,329$1,733$1,270$918$657$142
28 years$2,222$1,633$1,180$841$592$119
29 years$2,122$1,541$1,098$771$535$100
30 years$2,029$1,455$1,023$708$483$84
31 years$1,943$1,375$954$650$437$71
32 years$1,862$1,301$890$597$395$60
33 years$1,785$1,232$831$549$358$50
34 years$1,714$1,168$776$505$324$42
35 years$1,647$1,108$726$465$293$36
36 years$1,583$1,052$679$429$266$30
37 years$1,524$999$636$395$241$25
38 years$1,467$949$595$364$218$21
39 years$1,414$903$558$336$198$18
40 years$1,363$859$523$310$180$15
41 years$1,315$817$490$286$163$13
42 years$1,269$778$460$264$148$11
43 years$1,226$742$431$243$134$9
44 years$1,185$707$405$225$122$8
45 years$1,145$674$380$207$111$6
46 years$1,108$643$357$192$100$5
47 years$1,072$614$335$177$91$5
48 years$1,038$586$315$164$83$4
49 years$1,005$560$296$151$75$3
50 years$973$534$279$140$68$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $997,000, adding $2,875 every year, while hoping to spend $39,924 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: 51/26/23 Blend
59$997,000$997,000$997,000$997,000
60$1,101,660$1,048,819$1,033,365$1,150,631
61$1,171,550$1,057,732$1,025,504$1,193,766
62$1,247,231$1,065,744$1,016,041$1,236,333
63$1,329,252$1,072,768$1,004,882$1,281,793
64$1,418,214$1,078,713$991,924$1,330,437
65$1,514,783$1,083,480$977,064$1,382,585
66$1,619,687$1,086,967$960,192$1,438,593
67$1,733,728$1,089,061$941,192$1,498,854
68$1,857,790$1,089,647$919,943$1,563,805
69$1,992,843$1,088,598$896,320$1,633,927
70$2,139,957$1,085,784$870,191$1,709,753
71$2,300,308$1,081,062$841,417$1,791,875
72$2,475,190$1,074,285$809,855$1,880,943
73$2,666,028$1,065,293$775,354$1,977,681
74$2,874,389$1,053,920$737,755$2,082,885
75$3,102,002$1,039,986$696,895$2,197,440
76$3,350,765$1,023,305$652,599$2,322,321
77$3,622,771$1,003,675$604,690$2,458,606
78$3,920,324$980,885$552,977$2,607,488
79$4,245,960$954,712$497,265$2,770,285
80$4,602,473$924,917$437,348$2,948,453
81$4,992,938$891,251$373,012$3,143,601
82$5,420,742$853,447$304,033$3,357,509
83$5,889,616$811,224$230,176$3,592,139
84$6,403,668$764,285$151,198$3,849,663
85$6,967,422$712,315$66,843$4,132,476
86$7,585,862$654,982$0$4,443,226
87$8,264,478$591,934$0$4,790,525
88$9,009,316$522,800$0$5,189,788
89$9,827,036$447,186$0$5,628,229
90$10,724,974$364,679$0$6,109,858
91$11,711,213$274,840$0$6,639,098
92$12,794,656$177,206$0$7,220,825
93$13,985,110$71,288$0$7,860,418
94$15,293,380$0$0$8,563,807
95$16,731,370$0$0$9,349,960
96$18,312,195$0$0$10,236,733
97$20,050,301$0$0$11,211,848
98$21,961,608$0$0$12,284,251
99$24,063,653$0$0$13,463,796
100$26,375,758$0$0$14,761,340