Can I retire at age 60 with 1,180,000?

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 $1,180,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$97,443$96,575$95,728$94,902$94,095$90,326
2 years$48,239$47,341$46,470$45,626$44,807$41,057
3 years$31,840$30,938$30,069$29,233$28,427$24,815
4 years$23,642$22,743$21,883$21,061$20,275$16,827
5 years$18,725$17,830$16,982$16,177$15,413$12,138
6 years$15,447$14,560$13,724$12,937$12,195$9,096
7 years$13,107$12,227$11,405$10,636$9,918$6,993
8 years$11,353$10,481$9,672$8,922$8,228$5,475
9 years$9,989$9,126$8,331$7,600$6,929$4,343
10 years$8,899$8,044$7,263$6,551$5,904$3,480
11 years$8,008$7,161$6,394$5,701$5,078$2,809
12 years$7,265$6,427$5,675$5,001$4,400$2,282
13 years$6,638$5,808$5,070$4,415$3,837$1,863
14 years$6,100$5,280$4,555$3,919$3,364$1,526
15 years$5,635$4,823$4,113$3,495$2,962$1,254
16 years$5,228$4,425$3,729$3,130$2,617$1,033
17 years$4,869$4,075$3,393$2,812$2,321$853
18 years$4,551$3,766$3,097$2,534$2,064$705
19 years$4,266$3,490$2,836$2,290$1,839$584
20 years$4,010$3,243$2,602$2,074$1,643$484
21 years$3,779$3,021$2,394$1,882$1,470$401
22 years$3,569$2,820$2,206$1,711$1,318$333
23 years$3,378$2,637$2,037$1,558$1,183$277
24 years$3,203$2,471$1,884$1,421$1,063$230
25 years$3,042$2,319$1,745$1,298$957$191
26 years$2,894$2,179$1,618$1,187$862$159
27 years$2,757$2,051$1,503$1,086$777$132
28 years$2,630$1,933$1,397$995$701$110
29 years$2,512$1,823$1,300$913$633$92
30 years$2,402$1,722$1,211$838$572$76
31 years$2,299$1,628$1,129$769$517$64
32 years$2,203$1,540$1,053$707$468$53
33 years$2,113$1,459$983$650$423$44
34 years$2,029$1,382$919$598$383$37
35 years$1,949$1,311$859$551$347$31
36 years$1,874$1,245$804$507$315$26
37 years$1,803$1,182$752$467$285$21
38 years$1,736$1,123$704$431$258$18
39 years$1,673$1,068$660$397$234$15
40 years$1,613$1,016$619$366$213$12
41 years$1,556$967$580$338$193$10
42 years$1,502$921$544$312$175$9
43 years$1,451$878$511$288$159$7
44 years$1,402$837$479$266$144$6
45 years$1,355$798$450$246$131$5
46 years$1,311$761$423$227$119$4
47 years$1,269$726$397$210$108$3
48 years$1,228$693$373$194$98$3
49 years$1,189$662$351$179$89$2
50 years$1,152$633$330$165$81$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,180,000, adding $4,007 every year, while hoping to spend $32,486 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: 26/48/26 Blend
59$1,180,000$1,180,000$1,180,000$1,180,000
60$1,304,493$1,241,953$1,223,663$1,327,679
61$1,402,987$1,268,244$1,230,091$1,373,138
62$1,510,438$1,294,734$1,235,645$1,418,820
63$1,627,726$1,321,400$1,240,263$1,467,159
64$1,755,818$1,348,213$1,243,876$1,518,400
65$1,895,782$1,375,145$1,246,416$1,572,816
66$2,048,789$1,402,165$1,247,808$1,630,707
67$2,216,131$1,429,237$1,247,976$1,692,405
68$2,399,231$1,456,323$1,246,837$1,758,276
69$2,599,654$1,483,385$1,244,308$1,828,727
70$2,819,125$1,510,377$1,240,298$1,904,206
71$3,059,542$1,537,252$1,234,715$1,985,207
72$3,322,997$1,563,960$1,227,460$2,072,277
73$3,611,794$1,590,444$1,218,431$2,166,022
74$3,928,468$1,616,647$1,207,519$2,267,110
75$4,275,813$1,642,504$1,194,612$2,376,279
76$4,656,906$1,667,947$1,179,593$2,494,344
77$5,075,138$1,692,904$1,162,336$2,622,206
78$5,534,240$1,717,295$1,142,713$2,760,862
79$6,038,327$1,741,036$1,120,587$2,911,410
80$6,591,927$1,764,038$1,095,818$3,075,065
81$7,200,032$1,786,204$1,068,257$3,253,170
82$7,868,139$1,807,432$1,037,747$3,447,205
83$8,602,305$1,827,611$1,004,127$3,658,808
84$9,409,201$1,846,626$967,227$3,889,785
85$10,296,179$1,864,350$926,868$4,142,132
86$11,271,337$1,880,650$882,866$4,418,053
87$12,343,597$1,895,386$835,025$4,719,980
88$13,522,788$1,908,404$783,143$5,050,599
89$14,819,742$1,919,545$727,007$5,412,875
90$16,246,390$1,928,637$666,397$5,810,082
91$17,815,880$1,935,499$601,079$6,245,833
92$19,542,697$1,939,936$530,813$6,724,116
93$21,442,802$1,941,742$455,344$7,249,332
94$23,533,780$1,940,700$374,411$7,826,339
95$25,835,008$1,936,577$287,736$8,460,498
96$28,367,836$1,929,126$195,032$9,157,726
97$31,155,788$1,918,086$95,999$9,924,549
98$34,224,787$1,903,181$0$10,768,172
99$37,603,393$1,884,114$0$11,699,230
100$41,323,078$1,860,575$0$12,752,399