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

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 $1,160,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$95,792$94,938$94,106$93,293$92,500$89,936
2 years$47,422$46,538$45,683$44,853$44,048$41,483
3 years$31,300$30,413$29,560$28,738$27,946$25,461
4 years$23,241$22,357$21,512$20,704$19,931$17,546
5 years$18,407$17,528$16,694$15,902$15,151$12,872
6 years$15,185$14,313$13,491$12,717$11,989$9,818
7 years$12,885$12,020$11,211$10,456$9,750$7,687
8 years$11,161$10,303$9,508$8,771$8,089$6,133
9 years$9,820$8,971$8,189$7,471$6,812$4,961
10 years$8,748$7,908$7,140$6,440$5,804$4,056
11 years$7,872$7,040$6,286$5,605$4,992$3,343
12 years$7,142$6,318$5,578$4,916$4,326$2,774
13 years$6,525$5,710$4,984$4,340$3,772$2,314
14 years$5,997$5,190$4,478$3,853$3,307$1,939
15 years$5,539$4,741$4,043$3,436$2,911$1,630
16 years$5,139$4,350$3,666$3,077$2,573$1,374
17 years$4,787$4,006$3,336$2,764$2,281$1,161
18 years$4,474$3,702$3,045$2,491$2,029$983
19 years$4,194$3,431$2,788$2,251$1,808$834
20 years$3,942$3,188$2,558$2,039$1,615$708
21 years$3,715$2,970$2,353$1,850$1,445$602
22 years$3,509$2,772$2,169$1,682$1,295$513
23 years$3,321$2,593$2,002$1,532$1,163$437
24 years$3,149$2,429$1,852$1,397$1,045$373
25 years$2,991$2,280$1,715$1,276$941$318
26 years$2,845$2,143$1,591$1,167$847$271
27 years$2,710$2,016$1,477$1,068$764$232
28 years$2,585$1,900$1,373$979$689$198
29 years$2,469$1,792$1,278$897$622$169
30 years$2,361$1,693$1,190$824$562$145
31 years$2,260$1,600$1,110$756$508$124
32 years$2,166$1,514$1,035$695$460$106
33 years$2,077$1,434$967$639$416$90
34 years$1,994$1,359$903$588$377$77
35 years$1,916$1,289$844$541$341$66
36 years$1,842$1,223$790$499$309$57
37 years$1,773$1,162$739$459$280$48
38 years$1,707$1,104$692$423$254$41
39 years$1,645$1,050$649$390$230$35
40 years$1,586$999$608$360$209$30
41 years$1,530$951$570$332$190$26
42 years$1,477$906$535$307$172$22
43 years$1,426$863$502$283$156$19
44 years$1,378$823$471$261$142$16
45 years$1,332$784$442$241$129$14
46 years$1,289$748$415$223$117$12
47 years$1,247$714$390$206$106$10
48 years$1,207$682$367$190$96$9
49 years$1,169$651$345$176$87$7
50 years$1,133$622$324$163$79$6

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 $3,772 every year, while hoping to spend $43,553 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: 68/26/6 Blend
59$1,160,000$1,160,000$1,160,000$1,160,000
60$1,282,211$1,220,731$1,202,751$1,368,035
61$1,366,656$1,234,207$1,196,703$1,438,840
62$1,458,255$1,246,883$1,188,993$1,510,583
63$1,557,692$1,258,675$1,179,518$1,587,852
64$1,665,718$1,269,491$1,168,174$1,671,180
65$1,783,161$1,279,236$1,154,847$1,761,153
66$1,910,930$1,287,805$1,139,421$1,858,417
67$2,050,027$1,295,090$1,121,774$1,963,687
68$2,201,554$1,300,973$1,101,778$2,077,748
69$2,366,723$1,305,331$1,079,298$2,201,466
70$2,546,868$1,308,032$1,054,194$2,335,797
71$2,743,459$1,308,936$1,026,319$2,481,794
72$2,958,111$1,307,893$995,520$2,640,619
73$3,192,604$1,304,746$961,636$2,813,553
74$3,448,898$1,299,327$924,500$3,002,006
75$3,729,150$1,291,458$883,934$3,207,538
76$4,035,734$1,280,950$839,756$3,431,863
77$4,371,264$1,267,602$791,774$3,676,876
78$4,738,622$1,251,203$739,787$3,944,665
79$5,140,977$1,231,528$683,585$4,237,530
80$5,581,821$1,208,337$622,950$4,558,010
81$6,064,999$1,181,378$557,652$4,908,904
82$6,594,748$1,150,384$487,452$5,293,299
83$7,175,731$1,115,072$412,100$5,714,596
84$7,813,087$1,075,142$331,336$6,176,549
85$8,512,473$1,030,276$244,888$6,683,295
86$9,280,125$980,138$152,471$7,239,395
87$10,122,908$924,375$53,789$7,849,881
88$11,048,384$862,610$0$8,520,299
89$12,064,888$794,446$0$9,260,062
90$13,181,596$719,463$0$10,076,504
91$14,408,619$637,218$0$10,973,635
92$15,757,099$547,241$0$11,959,673
93$17,239,305$449,038$0$13,043,679
94$18,868,758$342,085$0$14,235,643
95$20,660,353$225,829$0$15,546,575
96$22,630,501$99,687$0$16,988,613
97$24,797,282$0$0$18,575,139
98$27,180,617$0$0$20,331,477
99$29,802,453$0$0$22,295,023
100$32,686,973$0$0$24,455,378