Can I retire at age 60 with 1,160,000?

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 $1,160,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$95,792$94,938$94,106$93,293$92,500$91,344
2 years$47,422$46,538$45,683$44,853$44,048$42,885
3 years$31,300$30,413$29,560$28,738$27,946$26,812
4 years$23,241$22,357$21,512$20,704$19,931$18,835
5 years$18,407$17,528$16,694$15,902$15,151$14,096
6 years$15,185$14,313$13,491$12,717$11,989$10,975
7 years$12,885$12,020$11,211$10,456$9,750$8,779
8 years$11,161$10,303$9,508$8,771$8,089$7,160
9 years$9,820$8,971$8,189$7,471$6,812$5,925
10 years$8,748$7,908$7,140$6,440$5,804$4,959
11 years$7,872$7,040$6,286$5,605$4,992$4,187
12 years$7,142$6,318$5,578$4,916$4,326$3,561
13 years$6,525$5,710$4,984$4,340$3,772$3,046
14 years$5,997$5,190$4,478$3,853$3,307$2,619
15 years$5,539$4,741$4,043$3,436$2,911$2,260
16 years$5,139$4,350$3,666$3,077$2,573$1,957
17 years$4,787$4,006$3,336$2,764$2,281$1,700
18 years$4,474$3,702$3,045$2,491$2,029$1,480
19 years$4,194$3,431$2,788$2,251$1,808$1,291
20 years$3,942$3,188$2,558$2,039$1,615$1,128
21 years$3,715$2,970$2,353$1,850$1,445$988
22 years$3,509$2,772$2,169$1,682$1,295$866
23 years$3,321$2,593$2,002$1,532$1,163$760
24 years$3,149$2,429$1,852$1,397$1,045$668
25 years$2,991$2,280$1,715$1,276$941$587
26 years$2,845$2,143$1,591$1,167$847$517
27 years$2,710$2,016$1,477$1,068$764$455
28 years$2,585$1,900$1,373$979$689$401
29 years$2,469$1,792$1,278$897$622$353
30 years$2,361$1,693$1,190$824$562$312
31 years$2,260$1,600$1,110$756$508$275
32 years$2,166$1,514$1,035$695$460$243
33 years$2,077$1,434$967$639$416$214
34 years$1,994$1,359$903$588$377$189
35 years$1,916$1,289$844$541$341$167
36 years$1,842$1,223$790$499$309$148
37 years$1,773$1,162$739$459$280$130
38 years$1,707$1,104$692$423$254$115
39 years$1,645$1,050$649$390$230$102
40 years$1,586$999$608$360$209$90
41 years$1,530$951$570$332$190$80
42 years$1,477$906$535$307$172$70
43 years$1,426$863$502$283$156$62
44 years$1,378$823$471$261$142$55
45 years$1,332$784$442$241$129$49
46 years$1,289$748$415$223$117$43
47 years$1,247$714$390$206$106$38
48 years$1,207$682$367$190$96$34
49 years$1,169$651$345$176$87$30
50 years$1,133$622$324$163$79$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,160,000, adding $6,015 every year, while hoping to spend $51,498 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: 50/21/29 Blend
59$1,160,000$1,160,000$1,160,000$1,160,000
60$1,284,524$1,223,044$1,205,064$1,337,933
61$1,360,752$1,228,180$1,190,641$1,381,074
62$1,443,030$1,231,842$1,174,008$1,422,353
63$1,531,919$1,233,902$1,155,037$1,466,225
64$1,628,038$1,234,227$1,133,595$1,512,962
65$1,732,068$1,232,673$1,109,539$1,562,865
66$1,844,754$1,229,090$1,082,724$1,616,268
67$1,966,919$1,223,315$1,052,996$1,673,541
68$2,099,466$1,215,179$1,020,192$1,735,098
69$2,243,388$1,204,499$984,145$1,801,395
70$2,399,778$1,191,084$944,678$1,872,939
71$2,569,838$1,174,730$901,608$1,950,292
72$2,754,890$1,155,220$854,741$2,034,079
73$2,956,391$1,132,328$803,876$2,124,990
74$3,175,940$1,105,809$748,803$2,223,791
75$3,415,299$1,075,407$689,302$2,331,332
76$3,676,410$1,040,852$625,143$2,448,551
77$3,961,405$1,001,855$556,086$2,576,490
78$4,272,634$958,112$481,882$2,716,303
79$4,612,685$909,302$402,267$2,869,264
80$4,984,404$855,083$316,968$3,036,787
81$5,390,928$795,097$225,701$3,220,433
82$5,835,707$728,961$128,167$3,421,933
83$6,322,544$656,275$24,055$3,643,199
84$6,855,623$576,612$0$3,886,347
85$7,439,554$489,523$0$4,180,651
86$8,079,412$394,533$0$4,511,457
87$8,780,788$291,142$0$4,874,282
88$9,549,839$178,818$0$5,272,401
89$10,393,345$57,003$0$5,709,426
90$11,318,776$0$0$6,189,342
91$12,334,358$0$0$6,733,850
92$13,449,153$0$0$7,346,137
93$14,673,143$0$0$8,018,529
94$16,017,323$0$0$8,757,082
95$17,493,807$0$0$9,568,467
96$19,115,938$0$0$10,460,037
97$20,898,415$0$0$11,439,887
98$22,857,434$0$0$12,516,940
99$25,010,835$0$0$13,701,022
100$27,378,274$0$0$15,002,963