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%14.4%
1 years$96,618$95,757$94,917$94,098$93,297$91,601
2 years$47,830$46,940$46,076$45,239$44,427$42,724
3 years$31,570$30,676$29,814$28,985$28,187$26,530
4 years$23,442$22,550$21,697$20,882$20,103$18,506
5 years$18,566$17,679$16,838$16,040$15,282$13,748
6 years$15,316$14,436$13,608$12,827$12,092$10,624
7 years$12,996$12,124$11,308$10,546$9,834$8,432
8 years$11,257$10,392$9,590$8,847$8,158$6,822
9 years$9,905$9,048$8,260$7,535$6,870$5,598
10 years$8,824$7,976$7,201$6,496$5,854$4,646
11 years$7,940$7,100$6,340$5,653$5,035$3,888
12 years$7,204$6,373$5,626$4,958$4,363$3,277
13 years$6,581$5,759$5,027$4,378$3,805$2,778
14 years$6,048$5,235$4,517$3,886$3,335$2,366
15 years$5,587$4,782$4,078$3,466$2,936$2,022
16 years$5,184$4,388$3,697$3,103$2,595$1,734
17 years$4,828$4,041$3,364$2,788$2,301$1,491
18 years$4,512$3,734$3,071$2,513$2,046$1,285
19 years$4,230$3,461$2,812$2,270$1,824$1,110
20 years$3,976$3,216$2,580$2,056$1,629$960
21 years$3,747$2,995$2,373$1,866$1,458$832
22 years$3,539$2,796$2,187$1,697$1,307$721
23 years$3,350$2,615$2,020$1,545$1,173$626
24 years$3,176$2,450$1,868$1,409$1,054$544
25 years$3,016$2,299$1,730$1,287$949$473
26 years$2,869$2,161$1,605$1,177$855$412
27 years$2,734$2,034$1,490$1,077$770$358
28 years$2,608$1,916$1,385$987$695$312
29 years$2,491$1,808$1,289$905$628$272
30 years$2,382$1,707$1,201$831$567$237
31 years$2,280$1,614$1,119$763$513$207
32 years$2,185$1,527$1,044$701$464$181
33 years$2,095$1,446$975$645$420$158
34 years$2,011$1,371$911$593$380$137
35 years$1,933$1,300$852$546$344$120
36 years$1,858$1,234$797$503$312$105
37 years$1,788$1,172$746$463$283$92
38 years$1,722$1,114$698$427$256$80
39 years$1,659$1,059$654$394$232$70
40 years$1,600$1,008$613$363$211$61
41 years$1,543$959$575$335$191$53
42 years$1,490$914$539$309$174$47
43 years$1,439$870$506$286$157$41
44 years$1,390$830$475$264$143$36
45 years$1,344$791$446$243$130$31
46 years$1,300$755$419$225$118$27
47 years$1,258$720$394$208$107$24
48 years$1,218$688$370$192$97$21
49 years$1,179$657$348$177$88$18
50 years$1,142$627$327$164$80$16

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 $5,410 every year, while hoping to spend $23,466 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: 62/26/12 Blend
59$1,170,000$1,170,000$1,170,000$1,170,000
60$1,294,920$1,232,910$1,214,775$1,371,215
61$1,402,035$1,268,355$1,230,503$1,458,462
62$1,519,288$1,304,751$1,245,970$1,550,482
63$1,647,690$1,342,118$1,261,145$1,650,349
64$1,788,352$1,380,480$1,275,991$1,758,826
65$1,942,499$1,419,858$1,290,472$1,876,750
66$2,111,478$1,460,275$1,304,547$2,005,044
67$2,296,775$1,501,755$1,318,175$2,144,723
68$2,500,024$1,544,319$1,331,312$2,296,905
69$2,723,028$1,587,992$1,343,913$2,462,823
70$2,967,770$1,632,797$1,355,927$2,643,831
71$3,236,437$1,678,758$1,367,304$2,841,424
72$3,531,434$1,725,898$1,377,990$3,057,247
73$3,855,416$1,774,242$1,387,928$3,293,110
74$4,211,302$1,823,814$1,397,058$3,551,009
75$4,602,312$1,874,638$1,405,316$3,833,143
76$5,031,990$1,926,738$1,412,637$4,141,931
77$5,504,244$1,980,138$1,418,950$4,480,041
78$6,023,375$2,034,864$1,424,184$4,850,411
79$6,594,126$2,090,938$1,428,260$5,256,276
80$7,221,718$2,148,386$1,431,099$5,701,203
81$7,911,907$2,207,231$1,432,614$6,189,119
82$8,671,033$2,267,496$1,432,718$6,724,351
83$9,506,082$2,329,207$1,431,317$7,311,667
84$10,424,749$2,392,385$1,428,314$7,956,320
85$11,435,515$2,457,054$1,423,604$8,664,098
86$12,547,724$2,523,236$1,417,081$9,441,378
87$13,771,671$2,590,953$1,408,632$10,295,185
88$15,118,698$2,660,227$1,398,138$11,233,261
89$16,601,306$2,731,078$1,385,476$12,264,137
90$18,233,265$2,803,527$1,370,515$13,397,211
91$20,029,750$2,877,592$1,353,120$14,642,840
92$22,007,483$2,953,293$1,333,148$16,012,435
93$24,184,888$3,030,645$1,310,450$17,518,572
94$26,582,266$3,109,667$1,284,870$19,175,106
95$29,221,988$3,190,371$1,256,244$20,997,306
96$32,128,705$3,272,773$1,224,402$23,001,997
97$35,329,577$3,356,883$1,189,164$25,207,717
98$38,854,537$3,442,713$1,150,343$27,634,898
99$42,736,565$3,530,271$1,107,745$30,306,050
100$47,012,003$3,619,564$1,061,164$33,245,982