Can I retire at age 60 with 1,070,000?

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 $1,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$88,360$87,573$86,805$86,055$85,323$82,035
2 years$43,742$42,928$42,138$41,373$40,630$37,357
3 years$28,872$28,054$27,266$26,508$25,777$22,622
4 years$21,438$20,622$19,843$19,097$18,385$15,370
5 years$16,979$16,168$15,399$14,669$13,976$11,111
6 years$14,007$13,203$12,445$11,731$11,059$8,345
7 years$11,885$11,088$10,341$9,644$8,994$6,431
8 years$10,295$9,504$8,770$8,090$7,461$5,046
9 years$9,058$8,275$7,554$6,891$6,283$4,013
10 years$8,070$7,294$6,586$5,940$5,354$3,223
11 years$7,261$6,493$5,798$5,170$4,604$2,609
12 years$6,588$5,828$5,146$4,535$3,990$2,125
13 years$6,019$5,267$4,597$4,003$3,479$1,739
14 years$5,531$4,788$4,131$3,554$3,050$1,429
15 years$5,109$4,373$3,729$3,169$2,685$1,178
16 years$4,741$4,013$3,381$2,838$2,373$973
17 years$4,415$3,695$3,077$2,550$2,104$805
18 years$4,127$3,415$2,809$2,298$1,871$668
19 years$3,869$3,165$2,571$2,076$1,668$555
20 years$3,637$2,941$2,360$1,880$1,490$461
21 years$3,427$2,739$2,171$1,707$1,333$384
22 years$3,237$2,557$2,000$1,552$1,195$320
23 years$3,063$2,392$1,847$1,413$1,073$266
24 years$2,904$2,241$1,708$1,289$964$222
25 years$2,759$2,103$1,582$1,177$868$185
26 years$2,624$1,976$1,467$1,076$781$155
27 years$2,500$1,860$1,363$985$705$129
28 years$2,385$1,753$1,267$903$636$108
29 years$2,278$1,653$1,179$828$574$90
30 years$2,178$1,561$1,098$760$519$75
31 years$2,085$1,476$1,024$698$469$63
32 years$1,998$1,397$955$641$424$53
33 years$1,916$1,323$892$590$384$44
34 years$1,840$1,254$833$543$348$37
35 years$1,767$1,189$779$499$315$31
36 years$1,699$1,129$729$460$285$26
37 years$1,635$1,072$682$424$259$21
38 years$1,575$1,019$639$391$234$18
39 years$1,517$969$598$360$213$15
40 years$1,463$922$561$332$193$13
41 years$1,411$877$526$306$175$10
42 years$1,362$835$493$283$159$9
43 years$1,316$796$463$261$144$7
44 years$1,271$759$435$241$131$6
45 years$1,229$724$408$223$119$5
46 years$1,189$690$383$206$108$4
47 years$1,150$659$360$190$98$4
48 years$1,113$629$338$176$89$3
49 years$1,078$600$318$162$81$2
50 years$1,045$574$299$150$73$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,070,000, adding $3,217 every year, while hoping to spend $46,376 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: 36/44/20 Blend
59$1,070,000$1,070,000$1,070,000$1,070,000
60$1,182,458$1,125,748$1,109,163$1,217,754
61$1,253,725$1,131,566$1,096,977$1,249,615
62$1,330,707$1,136,115$1,082,827$1,279,431
63$1,413,938$1,139,283$1,066,601$1,310,663
64$1,504,005$1,140,953$1,048,177$1,343,464
65$1,601,552$1,140,999$1,027,430$1,378,007
66$1,707,290$1,139,287$1,004,228$1,414,484
67$1,821,998$1,135,677$978,434$1,453,110
68$1,946,534$1,130,017$949,904$1,494,128
69$2,081,841$1,122,149$918,486$1,537,807
70$2,228,958$1,111,903$884,024$1,584,448
71$2,389,026$1,099,100$846,353$1,634,388
72$2,563,301$1,083,551$805,301$1,688,002
73$2,753,166$1,065,053$760,687$1,745,708
74$2,960,142$1,043,394$712,323$1,807,972
75$3,185,903$1,018,347$660,013$1,875,314
76$3,432,293$989,673$603,551$1,948,312
77$3,701,339$957,120$542,722$2,027,611
78$3,995,276$920,418$477,303$2,113,925
79$4,316,560$879,285$407,059$2,208,051
80$4,667,899$833,420$331,745$2,310,874
81$5,052,272$782,505$251,106$2,423,376
82$5,472,962$726,205$164,876$2,546,650
83$5,933,580$664,166$72,775$2,681,909
84$6,438,106$596,011$0$2,830,496
85$6,990,923$521,345$0$2,999,350
86$7,596,854$439,748$0$3,201,610
87$8,261,215$350,778$0$3,423,632
88$8,989,860$253,967$0$3,667,523
89$9,789,236$148,822$0$3,935,611
90$10,666,444$34,820$0$4,230,473
91$11,629,307$0$0$4,554,958
92$12,686,440$0$0$4,955,108
93$13,847,336$0$0$5,413,206
94$15,122,449$0$0$5,916,539
95$16,523,299$0$0$6,469,675
96$18,062,574$0$0$7,077,644
97$19,754,253$0$0$7,745,991
98$21,613,736$0$0$8,480,821
99$23,657,989$0$0$9,288,863
100$25,905,706$0$0$10,177,530