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

Use the below retirement simulation to view the chances of a successful retirement.
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%15.9%
1 years$93,314$92,483$91,672$90,881$90,108$87,929
2 years$46,195$45,335$44,501$43,693$42,908$40,727
3 years$30,491$29,627$28,795$27,994$27,223$25,106
4 years$22,640$21,779$20,955$20,168$19,416$17,380
5 years$17,931$17,075$16,262$15,491$14,759$12,811
6 years$14,793$13,943$13,142$12,388$11,679$9,819
7 years$12,552$11,709$10,921$10,185$9,498$7,728
8 years$10,872$10,037$9,262$8,544$7,879$6,198
9 years$9,566$8,739$7,978$7,278$6,636$5,041
10 years$8,522$7,703$6,955$6,273$5,654$4,144
11 years$7,668$6,858$6,123$5,460$4,862$3,436
12 years$6,957$6,155$5,434$4,789$4,214$2,868
13 years$6,356$5,562$4,855$4,228$3,674$2,407
14 years$5,842$5,056$4,362$3,753$3,221$2,029
15 years$5,396$4,619$3,938$3,347$2,836$1,716
16 years$5,006$4,238$3,571$2,997$2,506$1,456
17 years$4,663$3,903$3,249$2,693$2,222$1,239
18 years$4,358$3,606$2,966$2,427$1,976$1,056
19 years$4,085$3,342$2,715$2,193$1,761$902
20 years$3,841$3,106$2,492$1,986$1,573$771
21 years$3,619$2,893$2,292$1,802$1,408$660
22 years$3,418$2,700$2,113$1,639$1,262$566
23 years$3,235$2,526$1,951$1,492$1,133$486
24 years$3,067$2,366$1,804$1,361$1,018$417
25 years$2,913$2,221$1,671$1,243$916$358
26 years$2,771$2,087$1,550$1,137$825$308
27 years$2,640$1,964$1,439$1,040$744$265
28 years$2,519$1,851$1,338$953$671$228
29 years$2,405$1,746$1,245$874$606$196
30 years$2,300$1,649$1,160$802$548$169
31 years$2,202$1,559$1,081$737$495$146
32 years$2,110$1,475$1,009$677$448$126
33 years$2,024$1,397$942$623$405$108
34 years$1,943$1,324$880$573$367$93
35 years$1,866$1,256$823$527$332$80
36 years$1,795$1,192$770$486$301$69
37 years$1,727$1,132$720$448$273$60
38 years$1,663$1,076$675$413$248$52
39 years$1,602$1,023$632$380$224$44
40 years$1,545$973$592$351$204$38
41 years$1,490$926$555$324$185$33
42 years$1,439$882$521$299$168$29
43 years$1,389$841$489$276$152$25
44 years$1,343$801$459$255$138$21
45 years$1,298$764$431$235$125$18
46 years$1,255$729$405$217$114$16
47 years$1,215$696$380$201$103$14
48 years$1,176$664$357$185$94$12
49 years$1,139$634$336$171$85$10
50 years$1,103$606$316$158$77$9

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 $5,865 every year, while hoping to spend $31,995 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: 76/17/7 Blend
59$1,130,000$1,130,000$1,130,000$1,130,000
60$1,251,310$1,191,420$1,173,905$1,344,855
61$1,344,901$1,215,757$1,179,188$1,431,498
62$1,446,966$1,240,214$1,183,576$1,521,753
63$1,558,336$1,264,764$1,187,005$1,619,751
64$1,679,924$1,289,375$1,189,408$1,726,247
65$1,812,738$1,314,016$1,190,714$1,842,074
66$1,957,884$1,338,650$1,190,851$1,968,147
67$2,116,583$1,363,239$1,189,739$2,105,475
68$2,290,178$1,387,741$1,187,299$2,255,172
69$2,480,148$1,412,112$1,183,444$2,418,459
70$2,688,119$1,436,302$1,178,087$2,596,687
71$2,915,887$1,460,260$1,171,132$2,791,341
72$3,165,424$1,483,929$1,162,481$3,004,058
73$3,438,906$1,507,251$1,152,033$3,236,640
74$3,738,727$1,530,159$1,139,679$3,491,075
75$4,067,525$1,552,584$1,125,306$3,769,551
76$4,428,205$1,574,454$1,108,797$4,074,480
77$4,823,967$1,595,687$1,090,026$4,408,517
78$5,258,336$1,616,199$1,068,866$4,774,592
79$5,735,193$1,635,900$1,045,180$5,175,929
80$6,258,815$1,654,692$1,018,826$5,616,083
81$6,833,914$1,672,471$989,656$6,098,971
82$7,465,679$1,689,128$957,516$6,628,908
83$8,159,828$1,704,545$922,242$7,210,650
84$8,922,658$1,718,595$883,664$7,849,437
85$9,761,108$1,731,145$841,606$8,551,044
86$10,682,823$1,742,053$795,882$9,321,835
87$11,696,224$1,751,167$746,297$10,168,822
88$12,810,590$1,758,326$692,650$11,099,734
89$14,036,145$1,763,358$634,728$12,123,086
90$15,384,150$1,766,081$572,310$13,248,263
91$16,867,016$1,766,302$505,165$14,485,607
92$18,498,416$1,763,814$433,052$15,846,516
93$20,293,413$1,758,400$355,718$17,343,549
94$22,268,607$1,749,828$272,901$18,990,549
95$24,442,287$1,737,852$184,325$20,802,769
96$26,834,605$1,722,210$89,704$22,797,019
97$29,467,763$1,702,627$0$24,991,826
98$32,366,229$1,678,810$0$27,408,446
99$35,556,960$1,650,447$0$30,075,742
100$39,069,660$1,617,210$0$33,011,828