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%17.8%
1 years$89,185$88,391$87,616$86,859$86,121$83,397
2 years$44,151$43,329$42,532$41,759$41,010$38,291
3 years$29,142$28,316$27,521$26,756$26,018$23,389
4 years$21,638$20,815$20,028$19,276$18,557$16,037
5 years$17,138$16,319$15,543$14,806$14,106$11,703
6 years$14,138$13,326$12,561$11,840$11,162$8,877
7 years$11,997$11,191$10,438$9,735$9,078$6,911
8 years$10,391$9,593$8,852$8,166$7,531$5,481
9 years$9,143$8,352$7,625$6,956$6,342$4,407
10 years$8,145$7,362$6,647$5,996$5,404$3,581
11 years$7,329$6,554$5,852$5,218$4,647$2,933
12 years$6,650$5,883$5,194$4,577$4,027$2,417
13 years$6,075$5,316$4,640$4,041$3,512$2,003
14 years$5,583$4,832$4,169$3,587$3,078$1,666
15 years$5,157$4,414$3,764$3,199$2,711$1,391
16 years$4,785$4,050$3,413$2,864$2,396$1,164
17 years$4,457$3,730$3,106$2,574$2,124$977
18 years$4,165$3,447$2,835$2,319$1,889$821
19 years$3,905$3,194$2,595$2,096$1,683$691
20 years$3,671$2,968$2,382$1,898$1,504$583
21 years$3,459$2,765$2,191$1,723$1,346$492
22 years$3,267$2,581$2,019$1,566$1,206$415
23 years$3,092$2,414$1,864$1,426$1,083$351
24 years$2,932$2,262$1,724$1,301$973$297
25 years$2,784$2,122$1,597$1,188$876$251
26 years$2,649$1,995$1,481$1,086$789$213
27 years$2,523$1,877$1,375$994$711$180
28 years$2,407$1,769$1,279$911$642$153
29 years$2,299$1,669$1,190$835$579$129
30 years$2,198$1,576$1,108$767$524$110
31 years$2,104$1,490$1,033$704$473$93
32 years$2,017$1,410$964$647$428$79
33 years$1,934$1,335$900$595$387$67
34 years$1,857$1,265$841$548$351$57
35 years$1,784$1,200$786$504$318$48
36 years$1,715$1,139$736$464$288$41
37 years$1,651$1,082$688$428$261$35
38 years$1,589$1,028$645$394$237$29
39 years$1,531$978$604$364$215$25
40 years$1,477$930$566$335$195$21
41 years$1,424$885$531$309$177$18
42 years$1,375$843$498$285$160$15
43 years$1,328$803$467$264$145$13
44 years$1,283$766$439$243$132$11
45 years$1,241$730$412$225$120$9
46 years$1,200$697$387$208$109$8
47 years$1,161$665$363$192$99$7
48 years$1,124$635$341$177$90$6
49 years$1,088$606$321$164$81$5
50 years$1,054$579$302$151$74$4

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 $2,037 every year, while hoping to spend $57,767 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: 68/13/19 Blend
59$1,080,000$1,080,000$1,080,000$1,080,000
60$1,192,261$1,135,021$1,118,281$1,267,634
61$1,252,408$1,129,174$1,094,280$1,312,414
62$1,316,754$1,121,103$1,067,539$1,354,440
63$1,385,666$1,110,641$1,037,904$1,398,998
64$1,459,547$1,097,605$1,005,217$1,446,334
65$1,538,839$1,081,806$969,310$1,496,721
66$1,624,027$1,063,041$930,009$1,550,461
67$1,715,644$1,041,096$887,130$1,607,888
68$1,814,273$1,015,743$840,482$1,669,371
69$1,920,557$986,742$789,866$1,735,319
70$2,035,200$953,839$735,073$1,806,186
71$2,158,978$916,764$675,885$1,882,471
72$2,292,740$875,233$612,074$1,964,731
73$2,437,424$828,943$543,403$2,053,577
74$2,594,056$777,576$469,621$2,149,688
75$2,763,767$720,794$390,471$2,253,815
76$2,947,799$658,242$305,680$2,366,787
77$3,147,520$589,541$214,966$2,489,521
78$3,364,433$514,294$118,032$2,623,032
79$3,600,190$432,079$14,572$2,768,440
80$3,856,611$342,453$0$2,926,986
81$4,135,696$244,944$0$3,119,469
82$4,439,649$139,058$0$3,332,387
83$4,770,891$24,270$0$3,564,529
84$5,132,089$0$0$3,817,815
85$5,526,178$0$0$4,108,668
86$5,956,389$0$0$4,430,029
87$6,426,277$0$0$4,781,091
88$6,939,758$0$0$5,164,786
89$7,501,140$0$0$5,584,343
90$8,115,170$0$0$6,043,315
91$8,787,072$0$0$6,545,619
92$9,522,598$0$0$7,095,562
93$10,328,084$0$0$7,697,892
94$11,210,507$0$0$8,357,835
95$12,177,548$0$0$9,081,147
96$13,237,671$0$0$9,874,168
97$14,400,193$0$0$10,743,879
98$15,675,380$0$0$11,697,970
99$17,074,536$0$0$12,744,913
100$18,610,114$0$0$13,894,037