Can I retire at age 60 with 1,000,000?

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 $1,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$82,579$81,843$81,126$80,425$79,741$77,877
2 years$40,881$40,119$39,381$38,666$37,972$36,104
3 years$26,983$26,218$25,482$24,774$24,091$22,278
4 years$20,036$19,273$18,545$17,848$17,182$15,438
5 years$15,868$15,111$14,391$13,709$13,061$11,391
6 years$13,091$12,339$11,630$10,963$10,335$8,741
7 years$11,108$10,362$9,665$9,013$8,405$6,887
8 years$9,621$8,882$8,197$7,561$6,973$5,529
9 years$8,466$7,734$7,060$6,440$5,872$4,503
10 years$7,542$6,817$6,155$5,552$5,003$3,707
11 years$6,786$6,069$5,419$4,832$4,303$3,077
12 years$6,157$5,447$4,809$4,238$3,729$2,572
13 years$5,625$4,922$4,296$3,742$3,252$2,161
14 years$5,170$4,474$3,860$3,321$2,850$1,824
15 years$4,775$4,087$3,485$2,962$2,510$1,545
16 years$4,430$3,750$3,160$2,652$2,218$1,313
17 years$4,126$3,454$2,875$2,383$1,967$1,119
18 years$3,857$3,191$2,625$2,148$1,749$955
19 years$3,615$2,958$2,403$1,940$1,559$817
20 years$3,399$2,748$2,205$1,757$1,392$700
21 years$3,203$2,560$2,029$1,595$1,246$600
22 years$3,025$2,390$1,870$1,450$1,117$515
23 years$2,863$2,235$1,726$1,321$1,002$443
24 years$2,714$2,094$1,596$1,205$901$381
25 years$2,578$1,965$1,479$1,100$811$328
26 years$2,453$1,847$1,371$1,006$730$282
27 years$2,336$1,738$1,273$921$658$243
28 years$2,229$1,638$1,184$844$594$210
29 years$2,129$1,545$1,102$774$537$181
30 years$2,036$1,459$1,026$710$485$156
31 years$1,949$1,380$957$652$438$135
32 years$1,867$1,305$893$599$396$116
33 years$1,791$1,236$833$551$359$100
34 years$1,719$1,172$779$507$325$87
35 years$1,652$1,111$728$467$294$75
36 years$1,588$1,055$681$430$267$65
37 years$1,528$1,002$637$396$242$56
38 years$1,472$952$597$365$219$48
39 years$1,418$905$559$337$199$42
40 years$1,367$861$524$310$180$36
41 years$1,319$820$492$286$163$31
42 years$1,273$781$461$264$148$27
43 years$1,230$744$433$244$135$23
44 years$1,188$709$406$225$122$20
45 years$1,149$676$381$208$111$17
46 years$1,111$645$358$192$101$15
47 years$1,075$616$336$178$91$13
48 years$1,041$588$316$164$83$11
49 years$1,008$561$297$152$75$10
50 years$976$536$279$140$69$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,000,000, adding $2,239 every year, while hoping to spend $54,880 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: 67/28/5 Blend
59$1,000,000$1,000,000$1,000,000$1,000,000
60$1,104,310$1,051,310$1,035,810$1,177,479
61$1,158,557$1,044,432$1,012,117$1,219,370
62$1,216,499$1,035,378$985,792$1,258,285
63$1,278,453$1,023,983$956,687$1,299,336
64$1,344,770$1,010,072$924,651$1,342,723
65$1,415,832$993,462$889,522$1,388,666
66$1,492,060$973,955$851,135$1,437,410
67$1,573,916$951,344$809,313$1,489,225
68$1,661,906$925,410$763,876$1,544,411
69$1,756,585$895,920$714,630$1,603,301
70$1,858,564$862,627$661,378$1,666,263
71$1,968,513$825,272$603,910$1,733,705
72$2,087,169$783,578$542,008$1,806,078
73$2,215,341$737,253$475,446$1,883,883
74$2,353,917$685,991$403,985$1,967,674
75$2,503,876$629,463$327,378$2,058,063
76$2,666,291$567,327$245,365$2,155,730
77$2,842,344$499,217$157,675$2,261,425
78$3,033,332$424,748$64,027$2,375,980
79$3,240,686$343,514$0$2,500,316
80$3,465,974$255,085$0$2,637,366
81$3,710,927$159,007$0$2,790,110
82$3,977,444$54,802$0$2,956,393
83$4,267,619$0$0$3,137,611
84$4,583,752$0$0$3,353,187
85$4,928,377$0$0$3,606,655
86$5,304,282$0$0$3,883,188
87$5,714,535$0$0$4,185,049
88$6,162,515$0$0$4,514,733
89$6,651,939$0$0$4,874,982
90$7,186,901$0$0$5,268,819
91$7,771,908$0$0$5,699,570
92$8,411,921$0$0$6,170,897
93$9,112,405$0$0$6,686,834
94$9,879,377$0$0$7,251,821
95$10,719,461$0$0$7,870,749
96$11,639,953$0$0$8,549,004
97$12,648,890$0$0$9,292,518
98$13,755,121$0$0$10,107,822
99$14,968,393$0$0$11,002,113
100$16,299,441$0$0$11,983,315