Can I retire at age 60 with 1,130,000?

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 $1,130,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$93,314$92,483$91,672$90,881$90,108$89,241
2 years$46,195$45,335$44,501$43,693$42,908$42,035
3 years$30,491$29,627$28,795$27,994$27,223$26,370
4 years$22,640$21,779$20,955$20,168$19,416$18,590
5 years$17,931$17,075$16,262$15,491$14,759$13,964
6 years$14,793$13,943$13,142$12,388$11,679$10,914
7 years$12,552$11,709$10,921$10,185$9,498$8,764
8 years$10,872$10,037$9,262$8,544$7,879$7,177
9 years$9,566$8,739$7,978$7,278$6,636$5,963
10 years$8,522$7,703$6,955$6,273$5,654$5,012
11 years$7,668$6,858$6,123$5,460$4,862$4,251
12 years$6,957$6,155$5,434$4,789$4,214$3,631
13 years$6,356$5,562$4,855$4,228$3,674$3,120
14 years$5,842$5,056$4,362$3,753$3,221$2,695
15 years$5,396$4,619$3,938$3,347$2,836$2,337
16 years$5,006$4,238$3,571$2,997$2,506$2,033
17 years$4,663$3,903$3,249$2,693$2,222$1,775
18 years$4,358$3,606$2,966$2,427$1,976$1,553
19 years$4,085$3,342$2,715$2,193$1,761$1,362
20 years$3,841$3,106$2,492$1,986$1,573$1,196
21 years$3,619$2,893$2,292$1,802$1,408$1,053
22 years$3,418$2,700$2,113$1,639$1,262$928
23 years$3,235$2,526$1,951$1,492$1,133$818
24 years$3,067$2,366$1,804$1,361$1,018$723
25 years$2,913$2,221$1,671$1,243$916$639
26 years$2,771$2,087$1,550$1,137$825$565
27 years$2,640$1,964$1,439$1,040$744$501
28 years$2,519$1,851$1,338$953$671$444
29 years$2,405$1,746$1,245$874$606$393
30 years$2,300$1,649$1,160$802$548$349
31 years$2,202$1,559$1,081$737$495$310
32 years$2,110$1,475$1,009$677$448$275
33 years$2,024$1,397$942$623$405$244
34 years$1,943$1,324$880$573$367$217
35 years$1,866$1,256$823$527$332$193
36 years$1,795$1,192$770$486$301$171
37 years$1,727$1,132$720$448$273$152
38 years$1,663$1,076$675$413$248$135
39 years$1,602$1,023$632$380$224$120
40 years$1,545$973$592$351$204$107
41 years$1,490$926$555$324$185$95
42 years$1,439$882$521$299$168$85
43 years$1,389$841$489$276$152$75
44 years$1,343$801$459$255$138$67
45 years$1,298$764$431$235$125$60
46 years$1,255$729$405$217$114$53
47 years$1,215$696$380$201$103$47
48 years$1,176$664$357$185$94$42
49 years$1,139$634$336$171$85$37
50 years$1,103$606$316$158$77$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,130,000, adding $5,344 every year, while hoping to spend $22,641 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: 43/49/8 Blend
59$1,130,000$1,130,000$1,130,000$1,130,000
60$1,250,772$1,190,882$1,173,367$1,301,442
61$1,354,261$1,225,146$1,188,585$1,371,439
62$1,467,547$1,260,329$1,203,554$1,444,497
63$1,591,606$1,296,454$1,218,242$1,523,121
64$1,727,511$1,333,541$1,232,614$1,607,830
65$1,876,445$1,371,613$1,246,635$1,699,191
66$2,039,712$1,410,692$1,260,267$1,797,831
67$2,218,746$1,450,799$1,273,469$1,904,437
68$2,415,127$1,491,957$1,286,199$2,019,767
69$2,630,596$1,534,189$1,298,413$2,144,654
70$2,867,071$1,577,518$1,310,064$2,280,013
71$3,126,663$1,621,967$1,321,102$2,426,854
72$3,411,698$1,667,560$1,331,475$2,586,287
73$3,724,740$1,714,319$1,341,128$2,759,533
74$4,068,611$1,762,268$1,350,003$2,947,937
75$4,446,421$1,811,431$1,358,040$3,152,981
76$4,861,597$1,861,832$1,365,175$3,376,295
77$5,317,912$1,913,494$1,371,340$3,619,675
78$5,819,525$1,966,441$1,376,466$3,885,096
79$6,371,016$2,020,697$1,380,478$4,174,736
80$6,977,434$2,076,285$1,383,298$4,490,993
81$7,644,339$2,133,229$1,384,845$4,836,506
82$8,377,856$2,191,552$1,385,032$5,214,185
83$9,184,737$2,251,278$1,383,770$5,627,231
84$10,072,419$2,312,429$1,380,965$6,079,174
85$11,049,095$2,375,028$1,376,517$6,573,900
86$12,123,795$2,439,096$1,370,323$7,115,690
87$13,306,467$2,504,657$1,362,273$7,709,260
88$14,608,072$2,571,730$1,352,255$8,359,807
89$16,040,687$2,640,337$1,340,147$9,073,053
90$17,617,621$2,710,497$1,325,826$9,855,305
91$19,353,537$2,782,229$1,309,159$10,713,511
92$21,264,592$2,855,553$1,290,010$11,655,325
93$23,368,589$2,930,485$1,268,235$12,689,181
94$25,685,148$3,007,041$1,243,683$13,824,370
95$28,235,884$3,085,236$1,216,197$15,071,132
96$31,044,616$3,165,085$1,185,612$16,440,746
97$34,137,593$3,246,600$1,151,756$17,945,643
98$37,543,735$3,329,792$1,114,448$19,599,517
99$41,294,914$3,414,669$1,073,499$21,417,462
100$45,426,247$3,501,239$1,028,713$23,416,104