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%13.6%
1 years$93,314$92,483$91,672$90,881$90,108$88,761
2 years$46,195$45,335$44,501$43,693$42,908$41,555
3 years$30,491$29,627$28,795$27,994$27,223$25,904
4 years$22,640$21,779$20,955$20,168$19,416$18,142
5 years$17,931$17,075$16,262$15,491$14,759$13,535
6 years$14,793$13,943$13,142$12,388$11,679$10,505
7 years$12,552$11,709$10,921$10,185$9,498$8,375
8 years$10,872$10,037$9,262$8,544$7,879$6,807
9 years$9,566$8,739$7,978$7,278$6,636$5,613
10 years$8,522$7,703$6,955$6,273$5,654$4,680
11 years$7,668$6,858$6,123$5,460$4,862$3,937
12 years$6,957$6,155$5,434$4,789$4,214$3,336
13 years$6,356$5,562$4,855$4,228$3,674$2,842
14 years$5,842$5,056$4,362$3,753$3,221$2,433
15 years$5,396$4,619$3,938$3,347$2,836$2,092
16 years$5,006$4,238$3,571$2,997$2,506$1,804
17 years$4,663$3,903$3,249$2,693$2,222$1,560
18 years$4,358$3,606$2,966$2,427$1,976$1,352
19 years$4,085$3,342$2,715$2,193$1,761$1,175
20 years$3,841$3,106$2,492$1,986$1,573$1,022
21 years$3,619$2,893$2,292$1,802$1,408$891
22 years$3,418$2,700$2,113$1,639$1,262$777
23 years$3,235$2,526$1,951$1,492$1,133$679
24 years$3,067$2,366$1,804$1,361$1,018$594
25 years$2,913$2,221$1,671$1,243$916$520
26 years$2,771$2,087$1,550$1,137$825$455
27 years$2,640$1,964$1,439$1,040$744$399
28 years$2,519$1,851$1,338$953$671$350
29 years$2,405$1,746$1,245$874$606$307
30 years$2,300$1,649$1,160$802$548$269
31 years$2,202$1,559$1,081$737$495$236
32 years$2,110$1,475$1,009$677$448$208
33 years$2,024$1,397$942$623$405$182
34 years$1,943$1,324$880$573$367$160
35 years$1,866$1,256$823$527$332$141
36 years$1,795$1,192$770$486$301$124
37 years$1,727$1,132$720$448$273$109
38 years$1,663$1,076$675$413$248$96
39 years$1,602$1,023$632$380$224$84
40 years$1,545$973$592$351$204$74
41 years$1,490$926$555$324$185$65
42 years$1,439$882$521$299$168$57
43 years$1,389$841$489$276$152$50
44 years$1,343$801$459$255$138$44
45 years$1,298$764$431$235$125$39
46 years$1,255$729$405$217$114$34
47 years$1,215$696$380$201$103$30
48 years$1,176$664$357$185$94$27
49 years$1,139$634$336$171$85$23
50 years$1,103$606$316$158$77$21

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 $3,895 every year, while hoping to spend $22,317 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: 88/6/6 Blend
59$1,130,000$1,130,000$1,130,000$1,130,000
60$1,249,278$1,189,388$1,171,873$1,358,647
61$1,352,959$1,223,923$1,187,385$1,464,958
62$1,466,468$1,259,402$1,202,670$1,578,286
63$1,590,783$1,295,848$1,217,694$1,702,140
64$1,726,982$1,333,284$1,232,427$1,837,566
65$1,876,253$1,371,733$1,246,832$1,985,714
66$2,039,903$1,411,220$1,260,872$2,147,851
67$2,219,371$1,451,768$1,274,510$2,325,373
68$2,416,244$1,493,403$1,287,704$2,519,817
69$2,632,270$1,536,147$1,300,410$2,732,875
70$2,869,371$1,580,028$1,312,583$2,966,414
71$3,129,667$1,625,070$1,324,176$3,222,487
72$3,415,494$1,671,300$1,335,136$3,503,356
73$3,729,423$1,718,742$1,345,412$3,811,515
74$4,074,288$1,767,424$1,354,947$4,149,709
75$4,453,209$1,817,372$1,363,682$4,520,963
76$4,869,626$1,868,613$1,371,555$4,928,610
77$5,327,326$1,921,173$1,378,500$5,376,321
78$5,830,484$1,975,080$1,384,450$5,868,141
79$6,383,696$2,030,362$1,389,331$6,408,526
80$6,992,028$2,087,045$1,393,069$7,002,386
81$7,661,062$2,145,158$1,395,584$7,655,130
82$8,396,947$2,204,727$1,396,793$8,372,717
83$9,206,457$2,265,780$1,396,607$9,161,715
84$10,097,057$2,328,345$1,394,935$10,029,358
85$11,076,973$2,392,449$1,391,681$10,983,618
86$12,155,265$2,458,120$1,386,743$12,033,279
87$13,341,919$2,525,385$1,380,016$13,188,019
88$14,647,936$2,594,270$1,371,388$14,458,501
89$16,085,439$2,664,803$1,360,743$15,856,477
90$17,667,785$2,737,010$1,347,959$17,394,893
91$19,409,691$2,810,915$1,332,908$19,088,017
92$21,327,375$2,886,546$1,315,456$20,951,568
93$23,438,707$2,963,927$1,295,464$23,002,869
94$25,763,377$3,043,081$1,272,783$25,261,008
95$28,323,082$3,124,032$1,247,262$27,747,017
96$31,141,729$3,206,803$1,218,738$30,484,072
97$34,245,664$3,291,414$1,187,045$33,497,714
98$37,663,916$3,377,888$1,152,005$36,816,084
99$41,428,473$3,466,242$1,113,435$40,470,194
100$45,574,585$3,556,495$1,071,142$44,494,215