Can I retire at age 60 with 998,000?

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 $998,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$82,414$81,680$80,964$80,265$79,582$77,282
2 years$40,799$40,039$39,303$38,589$37,896$35,598
3 years$26,929$26,166$25,431$24,724$24,043$21,817
4 years$19,996$19,235$18,508$17,812$17,148$15,012
5 years$15,837$15,080$14,363$13,682$13,035$10,996
6 years$13,065$12,314$11,607$10,941$10,314$8,373
7 years$11,086$10,341$9,646$8,995$8,388$6,545
8 years$9,602$8,865$8,180$7,546$6,959$5,212
9 years$8,449$7,718$7,046$6,428$5,860$4,209
10 years$7,527$6,803$6,143$5,541$4,993$3,434
11 years$6,773$6,056$5,408$4,822$4,294$2,826
12 years$6,145$5,436$4,799$4,230$3,722$2,340
13 years$5,614$4,913$4,288$3,734$3,245$1,948
14 years$5,159$4,465$3,853$3,315$2,845$1,628
15 years$4,766$4,079$3,478$2,956$2,505$1,366
16 years$4,422$3,743$3,154$2,647$2,214$1,149
17 years$4,118$3,447$2,870$2,378$1,963$969
18 years$3,849$3,185$2,620$2,143$1,745$819
19 years$3,608$2,952$2,398$1,937$1,556$693
20 years$3,392$2,743$2,201$1,754$1,389$587
21 years$3,196$2,555$2,024$1,592$1,243$498
22 years$3,019$2,385$1,866$1,447$1,115$423
23 years$2,857$2,231$1,723$1,318$1,000$360
24 years$2,709$2,090$1,593$1,202$899$306
25 years$2,573$1,961$1,476$1,098$809$260
26 years$2,448$1,843$1,369$1,004$729$222
27 years$2,332$1,735$1,271$919$657$189
28 years$2,224$1,635$1,181$842$593$161
29 years$2,124$1,542$1,099$772$535$137
30 years$2,031$1,456$1,024$709$484$117
31 years$1,945$1,377$955$651$437$100
32 years$1,863$1,303$891$598$396$85
33 years$1,787$1,234$832$550$358$73
34 years$1,716$1,169$777$506$324$62
35 years$1,648$1,109$727$466$294$53
36 years$1,585$1,053$680$429$266$45
37 years$1,525$1,000$636$395$241$39
38 years$1,469$950$596$364$219$33
39 years$1,415$903$558$336$198$28
40 years$1,364$860$523$310$180$24
41 years$1,316$818$491$286$163$20
42 years$1,271$779$460$264$148$17
43 years$1,227$742$432$244$134$15
44 years$1,186$708$405$225$122$13
45 years$1,146$675$381$208$111$11
46 years$1,109$644$357$192$101$9
47 years$1,073$614$336$177$91$8
48 years$1,039$587$316$164$83$7
49 years$1,006$560$297$151$75$6
50 years$974$535$279$140$68$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $998,000, adding $3,684 every year, while hoping to spend $40,251 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: 42/31/27 Blend
59$998,000$998,000$998,000$998,000
60$1,103,596$1,050,702$1,035,233$1,141,088
61$1,173,336$1,059,360$1,027,087$1,177,036
62$1,248,841$1,067,093$1,017,318$1,211,862
63$1,330,655$1,073,813$1,005,831$1,248,802
64$1,419,379$1,079,427$992,524$1,288,076
65$1,515,672$1,083,835$977,290$1,329,926
66$1,620,261$1,086,933$960,019$1,374,624
67$1,733,941$1,088,607$940,593$1,422,469
68$1,857,592$1,088,738$918,892$1,473,796
69$1,992,180$1,087,199$894,788$1,528,975
70$2,138,766$1,083,856$868,148$1,588,416
71$2,298,521$1,078,565$838,832$1,652,575
72$2,472,732$1,071,176$806,694$1,721,959
73$2,662,814$1,061,528$771,582$1,797,129
74$2,870,327$1,049,449$733,336$1,878,705
75$3,096,988$1,034,759$691,790$1,967,378
76$3,344,686$1,017,267$646,770$2,063,911
77$3,615,500$996,770$598,093$2,169,151
78$3,911,722$973,052$545,570$2,284,034
79$4,235,873$945,887$489,002$2,409,598
80$4,590,730$915,033$428,181$2,546,993
81$4,979,350$880,236$362,891$2,697,491
82$5,405,101$841,225$292,905$2,862,498
83$5,871,691$797,714$217,987$3,043,574
84$6,383,204$749,403$137,891$3,242,441
85$6,944,139$695,972$52,358$3,461,006
86$7,559,449$637,082$0$3,701,376
87$8,234,592$572,378$0$3,977,098
88$8,975,577$501,482$0$4,296,360
89$9,789,026$423,995$0$4,646,998
90$10,682,233$339,496$0$5,032,250
91$11,663,230$247,541$0$5,455,689
92$12,740,868$147,659$0$5,921,258
93$13,924,897$39,355$0$6,433,306
94$15,226,058$0$0$6,996,635
95$16,656,182$0$0$7,643,113
96$18,228,307$0$0$8,368,675
97$19,956,795$0$0$9,166,542
98$21,857,468$0$0$10,044,037
99$23,947,759$0$0$11,009,224
100$26,246,877$0$0$12,070,993