Can I retire at age 60 with 1,050,000?

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 $1,050,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$86,708$85,936$85,182$84,447$83,728$83,306
2 years$42,925$42,125$41,351$40,599$39,871$39,444
3 years$28,332$27,529$26,757$26,012$25,296$24,878
4 years$21,037$20,237$19,472$18,740$18,041$17,636
5 years$16,662$15,866$15,111$14,394$13,715$13,323
6 years$13,745$12,956$12,212$11,511$10,852$10,475
7 years$11,663$10,880$10,148$9,464$8,825$8,463
8 years$10,102$9,326$8,606$7,939$7,322$6,973
9 years$8,889$8,120$7,413$6,762$6,166$5,832
10 years$7,919$7,158$6,463$5,829$5,254$4,934
11 years$7,125$6,372$5,690$5,073$4,518$4,213
12 years$6,465$5,719$5,049$4,450$3,915$3,624
13 years$5,906$5,168$4,511$3,929$3,414$3,136
14 years$5,428$4,698$4,053$3,487$2,993$2,728
15 years$5,014$4,292$3,660$3,110$2,635$2,383
16 years$4,652$3,938$3,318$2,785$2,329$2,089
17 years$4,333$3,626$3,019$2,502$2,065$1,837
18 years$4,049$3,351$2,756$2,255$1,836$1,620
19 years$3,796$3,106$2,523$2,037$1,637$1,432
20 years$3,569$2,886$2,316$1,845$1,462$1,268
21 years$3,363$2,688$2,130$1,675$1,308$1,125
22 years$3,176$2,509$1,963$1,523$1,173$1,000
23 years$3,006$2,347$1,813$1,387$1,053$889
24 years$2,850$2,199$1,676$1,265$946$792
25 years$2,707$2,063$1,553$1,155$851$706
26 years$2,575$1,939$1,440$1,056$767$630
27 years$2,453$1,825$1,337$967$691$563
28 years$2,340$1,720$1,243$886$624$503
29 years$2,235$1,622$1,157$812$563$450
30 years$2,137$1,532$1,077$745$509$403
31 years$2,046$1,448$1,004$685$460$361
32 years$1,961$1,371$937$629$416$323
33 years$1,880$1,298$875$579$377$290
34 years$1,805$1,230$818$532$341$260
35 years$1,734$1,167$764$490$309$233
36 years$1,668$1,107$715$451$280$209
37 years$1,605$1,052$669$416$254$187
38 years$1,545$1,000$627$383$230$168
39 years$1,489$951$587$353$209$151
40 years$1,436$904$550$326$189$136
41 years$1,385$861$516$301$172$122
42 years$1,337$820$484$278$156$109
43 years$1,291$781$454$256$141$98
44 years$1,248$745$426$237$128$88
45 years$1,206$710$400$218$116$79
46 years$1,167$677$376$202$106$71
47 years$1,129$646$353$186$96$64
48 years$1,093$617$332$172$87$57
49 years$1,058$589$312$159$79$52
50 years$1,025$563$293$147$72$46

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,050,000, adding $3,552 every year, while hoping to spend $53,392 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: 61/21/18 Blend
59$1,050,000$1,050,000$1,050,000$1,050,000
60$1,160,764$1,105,114$1,088,839$1,226,003
61$1,222,353$1,102,456$1,068,506$1,267,786
62$1,288,435$1,097,878$1,045,703$1,307,098
63$1,359,411$1,091,230$1,020,290$1,348,762
64$1,435,723$1,082,352$992,122$1,393,015
65$1,517,855$1,071,076$961,046$1,440,114
66$1,606,339$1,057,221$926,903$1,490,350
67$1,701,758$1,040,597$889,527$1,544,042
68$1,804,754$1,021,003$848,744$1,601,544
69$1,916,033$998,226$804,370$1,663,250
70$2,036,369$972,040$756,217$1,729,596
71$2,166,613$942,204$704,085$1,801,064
72$2,307,702$908,467$647,766$1,878,190
73$2,460,665$870,560$587,044$1,961,565
74$2,626,635$828,198$521,691$2,051,848
75$2,806,854$781,083$451,471$2,149,763
76$3,002,694$728,897$376,136$2,256,117
77$3,215,660$671,304$295,428$2,371,800
78$3,447,410$607,950$209,077$2,497,797
79$3,699,766$538,460$116,801$2,635,200
80$3,974,735$462,437$18,307$2,785,215
81$4,274,525$379,464$0$2,949,178
82$4,601,566$289,097$0$3,145,238
83$4,958,533$190,870$0$3,363,191
84$5,348,370$84,290$0$3,601,388
85$5,774,319$0$0$3,861,893
86$6,239,948$0$0$4,154,186
87$6,749,185$0$0$4,495,232
88$7,306,357$0$0$4,868,460
89$7,916,226$0$0$5,277,071
90$8,584,037$0$0$5,724,589
91$9,315,566$0$0$6,214,895
92$10,117,173$0$0$6,752,265
93$10,995,864$0$0$7,341,404
94$11,959,354$0$0$7,987,499
95$13,016,141$0$0$8,696,260
96$14,175,582$0$0$9,473,976
97$15,447,989$0$0$10,327,576
98$16,844,715$0$0$11,264,692
99$18,378,270$0$0$12,293,731
100$20,062,433$0$0$13,423,953