Can I retire at age 60 with 1,010,000?

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 $1,010,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$83,405$82,662$81,937$81,230$80,539$78,688
2 years$41,290$40,521$39,775$39,053$38,352$36,497
3 years$27,253$26,481$25,737$25,021$24,332$22,532
4 years$20,236$19,466$18,730$18,027$17,354$15,622
5 years$16,027$15,262$14,535$13,846$13,192$11,533
6 years$13,222$12,462$11,747$11,073$10,438$8,854
7 years$11,219$10,466$9,762$9,104$8,489$6,980
8 years$9,717$8,971$8,279$7,637$7,043$5,608
9 years$8,550$7,811$7,130$6,505$5,931$4,569
10 years$7,617$6,885$6,216$5,607$5,053$3,764
11 years$6,854$6,129$5,473$4,880$4,346$3,126
12 years$6,219$5,501$4,857$4,280$3,766$2,615
13 years$5,681$4,972$4,339$3,779$3,284$2,199
14 years$5,221$4,519$3,899$3,355$2,879$1,857
15 years$4,823$4,128$3,520$2,992$2,535$1,574
16 years$4,475$3,788$3,192$2,679$2,240$1,339
17 years$4,168$3,488$2,904$2,407$1,986$1,141
18 years$3,895$3,223$2,651$2,169$1,766$975
19 years$3,652$2,987$2,427$1,960$1,574$834
20 years$3,433$2,776$2,227$1,775$1,406$715
21 years$3,235$2,586$2,049$1,611$1,258$614
22 years$3,055$2,414$1,888$1,465$1,128$528
23 years$2,891$2,257$1,743$1,334$1,013$454
24 years$2,742$2,115$1,612$1,217$910$391
25 years$2,604$1,985$1,493$1,111$819$336
26 years$2,477$1,865$1,385$1,016$738$290
27 years$2,360$1,756$1,286$930$665$250
28 years$2,251$1,654$1,196$852$600$216
29 years$2,150$1,561$1,113$781$542$186
30 years$2,056$1,474$1,036$717$490$161
31 years$1,968$1,393$966$659$443$139
32 years$1,886$1,318$901$605$400$120
33 years$1,809$1,248$842$557$362$104
34 years$1,736$1,183$786$512$328$89
35 years$1,668$1,122$735$471$297$77
36 years$1,604$1,065$688$434$269$67
37 years$1,544$1,012$644$400$244$58
38 years$1,486$962$603$369$221$50
39 years$1,432$914$565$340$201$43
40 years$1,381$870$529$314$182$37
41 years$1,332$828$496$289$165$32
42 years$1,286$789$466$267$150$28
43 years$1,242$751$437$246$136$24
44 years$1,200$716$410$228$123$21
45 years$1,160$683$385$210$112$18
46 years$1,122$652$362$194$102$16
47 years$1,086$622$340$179$92$14
48 years$1,051$594$319$166$84$12
49 years$1,018$567$300$153$76$10
50 years$986$541$282$142$69$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,010,000, adding $6,953 every year, while hoping to spend $20,759 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: 39/45/16 Blend
59$1,010,000$1,010,000$1,010,000$1,010,000
60$1,120,192$1,066,662$1,051,007$1,158,267
61$1,212,364$1,096,841$1,064,128$1,216,262
62$1,313,242$1,127,803$1,076,993$1,276,407
63$1,423,692$1,159,565$1,089,572$1,340,997
64$1,544,668$1,192,142$1,101,831$1,410,446
65$1,677,219$1,225,552$1,113,738$1,485,205
66$1,822,503$1,259,812$1,125,256$1,565,775
67$1,981,793$1,294,938$1,136,347$1,652,705
68$2,156,493$1,330,947$1,146,972$1,746,599
69$2,348,148$1,367,856$1,157,088$1,848,122
70$2,558,461$1,405,682$1,166,652$1,958,007
71$2,789,305$1,444,442$1,175,616$2,077,060
72$3,042,746$1,484,152$1,183,931$2,206,168
73$3,321,060$1,524,829$1,191,547$2,346,308
74$3,626,753$1,566,490$1,198,408$2,498,557
75$3,962,585$1,609,152$1,204,458$2,664,100
76$4,331,598$1,652,829$1,209,636$2,844,241
77$4,737,142$1,697,539$1,213,880$3,040,417
78$5,182,909$1,743,297$1,217,124$3,254,212
79$5,672,965$1,790,118$1,219,297$3,487,369
80$6,211,791$1,838,018$1,220,327$3,741,808
81$6,804,323$1,887,010$1,220,138$4,019,647
82$7,456,000$1,937,109$1,218,648$4,323,214
83$8,172,814$1,988,329$1,215,774$4,655,079
84$8,961,365$2,040,682$1,211,428$5,018,070
85$9,828,930$2,094,180$1,205,516$5,415,303
86$10,783,521$2,148,836$1,197,941$5,850,213
87$11,833,970$2,204,658$1,188,601$6,326,583
88$12,990,006$2,261,658$1,177,391$6,848,582
89$14,262,350$2,319,843$1,164,197$7,420,803
90$15,662,816$2,379,221$1,148,904$8,048,307
91$17,204,419$2,439,799$1,131,388$8,736,671
92$18,901,501$2,501,580$1,111,521$9,492,041
93$20,769,866$2,564,569$1,089,169$10,321,187
94$22,826,927$2,628,768$1,064,191$11,231,571
95$25,091,872$2,694,176$1,036,440$12,231,416
96$27,585,845$2,760,792$1,005,762$13,329,783
97$30,332,142$2,828,613$971,996$14,536,657
98$33,356,437$2,897,631$934,974$15,863,039
99$36,687,018$2,967,840$894,521$17,321,056
100$40,355,058$3,039,228$850,451$18,924,069