Can I retire at age 60 with 1,080,000?

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 $1,080,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$89,185$88,391$87,616$86,859$86,121$82,769
2 years$44,151$43,329$42,532$41,759$41,010$37,674
3 years$29,142$28,316$27,521$26,756$26,018$22,803
4 years$21,638$20,815$20,028$19,276$18,557$15,486
5 years$17,138$16,319$15,543$14,806$14,106$11,188
6 years$14,138$13,326$12,561$11,840$11,162$8,399
7 years$11,997$11,191$10,438$9,735$9,078$6,468
8 years$10,391$9,593$8,852$8,166$7,531$5,072
9 years$9,143$8,352$7,625$6,956$6,342$4,031
10 years$8,145$7,362$6,647$5,996$5,404$3,236
11 years$7,329$6,554$5,852$5,218$4,647$2,618
12 years$6,650$5,883$5,194$4,577$4,027$2,131
13 years$6,075$5,316$4,640$4,041$3,512$1,743
14 years$5,583$4,832$4,169$3,587$3,078$1,431
15 years$5,157$4,414$3,764$3,199$2,711$1,178
16 years$4,785$4,050$3,413$2,864$2,396$973
17 years$4,457$3,730$3,106$2,574$2,124$805
18 years$4,165$3,447$2,835$2,319$1,889$667
19 years$3,905$3,194$2,595$2,096$1,683$553
20 years$3,671$2,968$2,382$1,898$1,504$460
21 years$3,459$2,765$2,191$1,723$1,346$382
22 years$3,267$2,581$2,019$1,566$1,206$318
23 years$3,092$2,414$1,864$1,426$1,083$265
24 years$2,932$2,262$1,724$1,301$973$221
25 years$2,784$2,122$1,597$1,188$876$184
26 years$2,649$1,995$1,481$1,086$789$153
27 years$2,523$1,877$1,375$994$711$128
28 years$2,407$1,769$1,279$911$642$107
29 years$2,299$1,669$1,190$835$579$89
30 years$2,198$1,576$1,108$767$524$74
31 years$2,104$1,490$1,033$704$473$62
32 years$2,017$1,410$964$647$428$52
33 years$1,934$1,335$900$595$387$43
34 years$1,857$1,265$841$548$351$36
35 years$1,784$1,200$786$504$318$30
36 years$1,715$1,139$736$464$288$25
37 years$1,651$1,082$688$428$261$21
38 years$1,589$1,028$645$394$237$18
39 years$1,531$978$604$364$215$15
40 years$1,477$930$566$335$195$12
41 years$1,424$885$531$309$177$10
42 years$1,375$843$498$285$160$9
43 years$1,328$803$467$264$145$7
44 years$1,283$766$439$243$132$6
45 years$1,241$730$412$225$120$5
46 years$1,200$697$387$208$109$4
47 years$1,161$665$363$192$99$3
48 years$1,124$635$341$177$90$3
49 years$1,088$606$321$164$81$2
50 years$1,054$579$302$151$74$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,080,000, adding $3,869 every year, while hoping to spend $56,204 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: 62/33/5 Blend
59$1,080,000$1,080,000$1,080,000$1,080,000
60$1,194,151$1,136,911$1,120,171$1,267,017
61$1,256,154$1,132,819$1,097,896$1,311,985
62$1,322,597$1,126,643$1,072,991$1,354,110
63$1,393,874$1,118,221$1,045,309$1,398,621
64$1,470,418$1,107,382$1,014,695$1,445,747
65$1,552,702$1,093,945$980,988$1,495,741
66$1,641,246$1,077,716$944,020$1,548,882
67$1,736,621$1,058,493$903,613$1,605,483
68$1,839,456$1,036,059$859,584$1,665,886
69$1,950,440$1,010,185$811,739$1,730,476
70$2,070,330$980,629$759,878$1,799,674
71$2,199,959$947,135$703,789$1,873,950
72$2,340,241$909,431$643,252$1,953,824
73$2,492,182$867,230$578,037$2,039,873
74$2,656,888$820,227$507,905$2,132,733
75$2,835,575$768,103$432,604$2,233,113
76$3,029,580$710,517$351,873$2,341,794
77$3,240,375$647,109$265,438$2,459,644
78$3,469,576$577,500$173,013$2,587,622
79$3,718,964$501,289$74,300$2,726,790
80$3,990,498$418,052$0$2,878,323
81$4,286,332$327,340$0$3,045,179
82$4,608,839$228,681$0$3,231,479
83$4,960,629$121,574$0$3,434,865
84$5,344,574$5,492$0$3,657,117
85$5,763,837$0$0$3,900,204
86$6,221,900$0$0$4,209,920
87$6,722,596$0$0$4,550,720
88$7,270,143$0$0$4,923,489
89$7,869,188$0$0$5,331,402
90$8,524,846$0$0$5,777,953
91$9,242,751$0$0$6,266,987
92$10,029,106$0$0$6,802,744
93$10,890,743$0$0$7,389,888
94$11,835,185$0$0$8,033,558
95$12,870,717$0$0$8,739,415
96$14,006,467$0$0$9,513,692
97$15,252,486$0$0$10,363,255
98$16,619,845$0$0$11,295,667
99$18,120,741$0$0$12,319,259
100$19,768,606$0$0$13,443,208