Can I retire at age 60 with 1,110,000?

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 $1,110,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$91,663$90,846$90,050$89,272$88,513$87,479
2 years$45,378$44,532$43,713$42,919$42,149$41,109
3 years$29,951$29,102$28,285$27,499$26,741$25,726
4 years$22,240$21,393$20,585$19,811$19,072$18,091
5 years$17,614$16,773$15,974$15,217$14,498$13,553
6 years$14,531$13,696$12,910$12,169$11,472$10,564
7 years$12,330$11,502$10,728$10,005$9,330$8,460
8 years$10,680$9,859$9,098$8,393$7,740$6,908
9 years$9,397$8,584$7,836$7,149$6,518$5,723
10 years$8,371$7,567$6,832$6,162$5,554$4,796
11 years$7,533$6,736$6,015$5,363$4,776$4,054
12 years$6,834$6,046$5,338$4,704$4,139$3,452
13 years$6,244$5,464$4,769$4,153$3,609$2,957
14 years$5,738$4,966$4,285$3,687$3,164$2,545
15 years$5,300$4,537$3,869$3,288$2,786$2,200
16 years$4,918$4,163$3,508$2,944$2,462$1,908
17 years$4,580$3,834$3,192$2,645$2,183$1,659
18 years$4,281$3,542$2,914$2,384$1,941$1,446
19 years$4,013$3,283$2,667$2,154$1,730$1,264
20 years$3,773$3,051$2,448$1,951$1,545$1,106
21 years$3,555$2,842$2,252$1,770$1,383$970
22 years$3,358$2,653$2,075$1,610$1,240$851
23 years$3,178$2,481$1,916$1,466$1,113$748
24 years$3,013$2,324$1,772$1,337$1,000$658
25 years$2,862$2,181$1,641$1,221$900$580
26 years$2,722$2,050$1,522$1,117$811$511
27 years$2,593$1,929$1,414$1,022$731$451
28 years$2,474$1,818$1,314$936$660$398
29 years$2,363$1,715$1,223$859$596$351
30 years$2,259$1,620$1,139$788$538$310
31 years$2,163$1,531$1,062$724$486$274
32 years$2,073$1,449$991$665$440$242
33 years$1,988$1,372$925$612$398$214
34 years$1,908$1,300$864$563$361$190
35 years$1,833$1,233$808$518$327$168
36 years$1,763$1,171$756$477$296$148
37 years$1,696$1,112$708$440$268$131
38 years$1,633$1,057$663$405$243$116
39 years$1,574$1,005$621$374$220$103
40 years$1,518$956$582$345$200$91
41 years$1,464$910$546$318$181$81
42 years$1,413$867$512$293$165$72
43 years$1,365$826$480$271$149$63
44 years$1,319$787$451$250$136$56
45 years$1,275$751$423$231$123$50
46 years$1,233$716$398$213$112$44
47 years$1,193$683$373$197$102$39
48 years$1,155$652$351$182$92$35
49 years$1,119$623$330$168$84$31
50 years$1,084$595$310$156$76$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,110,000, adding $5,593 every year, while hoping to spend $31,112 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: 64/22/14 Blend
59$1,110,000$1,110,000$1,110,000$1,110,000
60$1,228,989$1,170,159$1,152,954$1,303,186
61$1,321,243$1,194,394$1,158,475$1,377,781
62$1,421,864$1,218,774$1,163,138$1,455,133
63$1,531,673$1,243,272$1,166,882$1,538,861
64$1,651,573$1,267,862$1,169,642$1,629,588
65$1,782,558$1,292,512$1,171,350$1,727,997
66$1,925,724$1,317,190$1,171,935$1,834,844
67$2,082,274$1,341,859$1,171,321$1,950,959
68$2,253,537$1,366,480$1,169,431$2,077,257
69$2,440,973$1,391,013$1,166,182$2,214,748
70$2,646,191$1,415,411$1,161,488$2,364,544
71$2,870,963$1,439,627$1,155,258$2,527,869
72$3,117,239$1,463,607$1,147,398$2,706,075
73$3,387,169$1,487,295$1,137,807$2,900,649
74$3,683,120$1,510,632$1,126,383$3,113,231
75$4,007,696$1,533,551$1,113,015$3,345,629
76$4,363,770$1,555,984$1,097,589$3,599,836
77$4,754,502$1,577,855$1,079,987$3,878,047
78$5,183,377$1,599,085$1,060,082$4,182,681
79$5,654,230$1,619,589$1,037,743$4,516,407
80$6,171,288$1,639,275$1,012,834$4,882,164
81$6,739,206$1,658,047$985,211$5,283,192
82$7,363,113$1,675,799$954,723$5,723,063
83$8,048,658$1,692,421$921,214$6,205,714
84$8,802,066$1,707,794$884,520$6,735,482
85$9,630,194$1,721,793$844,468$7,317,152
86$10,540,596$1,734,283$800,879$7,955,992
87$11,541,594$1,745,120$753,567$8,657,815
88$12,642,359$1,754,153$702,333$9,429,022
89$13,852,992$1,761,220$646,974$10,276,674
90$15,184,626$1,766,148$587,276$11,208,548
91$16,649,523$1,768,754$523,015$12,233,221
92$18,261,195$1,768,844$453,957$13,360,144
93$20,034,530$1,766,211$379,858$14,599,733
94$21,985,933$1,760,636$300,464$15,963,471
95$24,133,477$1,751,886$215,509$17,464,014
96$26,497,078$1,739,714$124,714$19,115,309
97$29,098,678$1,723,858$27,790$20,932,732
98$31,962,456$1,704,041$0$22,933,227
99$35,115,055$1,679,967$0$25,146,771
100$38,585,831$1,651,326$0$27,587,813