Can I retire at age 60 with 1,170,000?

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 $1,170,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$96,618$95,757$94,917$94,098$93,297$91,376
2 years$47,830$46,940$46,076$45,239$44,427$42,501
3 years$31,570$30,676$29,814$28,985$28,187$26,314
4 years$23,442$22,550$21,697$20,882$20,103$18,300
5 years$18,566$17,679$16,838$16,040$15,282$13,553
6 years$15,316$14,436$13,608$12,827$12,092$10,439
7 years$12,996$12,124$11,308$10,546$9,834$8,257
8 years$11,257$10,392$9,590$8,847$8,158$6,657
9 years$9,905$9,048$8,260$7,535$6,870$5,444
10 years$8,824$7,976$7,201$6,496$5,854$4,500
11 years$7,940$7,100$6,340$5,653$5,035$3,753
12 years$7,204$6,373$5,626$4,958$4,363$3,151
13 years$6,581$5,759$5,027$4,378$3,805$2,660
14 years$6,048$5,235$4,517$3,886$3,335$2,256
15 years$5,587$4,782$4,078$3,466$2,936$1,920
16 years$5,184$4,388$3,697$3,103$2,595$1,640
17 years$4,828$4,041$3,364$2,788$2,301$1,404
18 years$4,512$3,734$3,071$2,513$2,046$1,205
19 years$4,230$3,461$2,812$2,270$1,824$1,036
20 years$3,976$3,216$2,580$2,056$1,629$892
21 years$3,747$2,995$2,373$1,866$1,458$769
22 years$3,539$2,796$2,187$1,697$1,307$664
23 years$3,350$2,615$2,020$1,545$1,173$574
24 years$3,176$2,450$1,868$1,409$1,054$496
25 years$3,016$2,299$1,730$1,287$949$429
26 years$2,869$2,161$1,605$1,177$855$372
27 years$2,734$2,034$1,490$1,077$770$322
28 years$2,608$1,916$1,385$987$695$279
29 years$2,491$1,808$1,289$905$628$242
30 years$2,382$1,707$1,201$831$567$210
31 years$2,280$1,614$1,119$763$513$182
32 years$2,185$1,527$1,044$701$464$158
33 years$2,095$1,446$975$645$420$137
34 years$2,011$1,371$911$593$380$119
35 years$1,933$1,300$852$546$344$104
36 years$1,858$1,234$797$503$312$90
37 years$1,788$1,172$746$463$283$78
38 years$1,722$1,114$698$427$256$68
39 years$1,659$1,059$654$394$232$59
40 years$1,600$1,008$613$363$211$51
41 years$1,543$959$575$335$191$45
42 years$1,490$914$539$309$174$39
43 years$1,439$870$506$286$157$34
44 years$1,390$830$475$264$143$29
45 years$1,344$791$446$243$130$25
46 years$1,300$755$419$225$118$22
47 years$1,258$720$394$208$107$19
48 years$1,218$688$370$192$97$17
49 years$1,179$657$348$177$88$15
50 years$1,142$627$327$164$80$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,170,000, adding $4,548 every year, while hoping to spend $44,337 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: 48/38/14 Blend
59$1,170,000$1,170,000$1,170,000$1,170,000
60$1,294,031$1,232,021$1,213,886$1,350,897
61$1,378,848$1,245,216$1,207,377$1,403,828
62$1,470,831$1,257,571$1,199,164$1,456,327
63$1,570,662$1,268,999$1,189,143$1,512,351
64$1,679,096$1,279,406$1,177,205$1,572,243
65$1,796,958$1,288,692$1,163,237$1,636,386
66$1,925,161$1,296,751$1,147,118$1,705,202
67$2,064,705$1,303,469$1,128,724$1,779,157
68$2,216,692$1,308,727$1,107,924$1,858,768
69$2,382,336$1,312,396$1,084,581$1,944,605
70$2,562,972$1,314,340$1,058,551$2,037,300
71$2,760,067$1,314,415$1,029,685$2,137,551
72$2,975,240$1,312,468$997,825$2,246,130
73$3,210,271$1,308,335$962,808$2,363,888
74$3,467,118$1,301,843$924,463$2,491,770
75$3,747,940$1,292,809$882,608$2,630,818
76$4,055,112$1,281,039$837,058$2,782,183
77$4,391,250$1,266,326$787,615$2,947,138
78$4,759,232$1,248,451$734,075$3,127,091
79$5,162,232$1,227,183$676,224$3,323,595
80$5,603,740$1,202,275$613,838$3,538,367
81$6,087,603$1,173,469$546,684$3,773,306
82$6,618,058$1,140,487$474,517$4,030,506
83$7,199,768$1,103,040$397,081$4,312,282
84$7,837,873$1,060,817$314,112$4,621,191
85$8,538,032$1,013,494$225,331$4,960,056
86$9,306,479$960,723$130,448$5,331,996
87$10,150,082$902,140$29,159$5,740,453
88$11,076,403$837,358$0$6,189,229
89$12,093,776$765,968$0$6,694,313
90$13,211,380$687,539$0$7,253,961
91$14,439,327$601,615$0$7,868,980
92$15,788,757$507,712$0$8,545,070
93$17,271,942$405,322$0$9,288,519
94$18,902,403$293,905$0$10,106,264
95$20,695,035$172,894$0$11,005,958
96$22,666,251$41,688$0$11,996,042
97$24,834,131$0$0$13,085,827
98$27,218,596$0$0$14,327,544
99$29,841,595$0$0$15,712,801
100$32,727,311$0$0$17,236,954