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%18.7%
1 years$97,443$96,575$95,728$94,902$94,095$90,792
2 years$48,239$47,341$46,470$45,626$44,807$41,515
3 years$31,840$30,938$30,069$29,233$28,427$25,248
4 years$23,642$22,743$21,883$21,061$20,275$17,233
5 years$18,725$17,830$16,982$16,177$15,413$12,517
6 years$15,447$14,560$13,724$12,937$12,195$9,448
7 years$13,107$12,227$11,405$10,636$9,918$7,318
8 years$11,353$10,481$9,672$8,922$8,228$5,773
9 years$9,989$9,126$8,331$7,600$6,929$4,616
10 years$8,899$8,044$7,263$6,551$5,904$3,729
11 years$8,008$7,161$6,394$5,701$5,078$3,037
12 years$7,265$6,427$5,675$5,001$4,400$2,488
13 years$6,638$5,808$5,070$4,415$3,837$2,049
14 years$6,100$5,280$4,555$3,919$3,364$1,694
15 years$5,635$4,823$4,113$3,495$2,962$1,405
16 years$5,228$4,425$3,729$3,130$2,617$1,168
17 years$4,869$4,075$3,393$2,812$2,321$974
18 years$4,551$3,766$3,097$2,534$2,064$813
19 years$4,266$3,490$2,836$2,290$1,839$680
20 years$4,010$3,243$2,602$2,074$1,643$569
21 years$3,779$3,021$2,394$1,882$1,470$477
22 years$3,569$2,820$2,206$1,711$1,318$400
23 years$3,378$2,637$2,037$1,558$1,183$336
24 years$3,203$2,471$1,884$1,421$1,063$282
25 years$3,042$2,319$1,745$1,298$957$237
26 years$2,894$2,179$1,618$1,187$862$199
27 years$2,757$2,051$1,503$1,086$777$167
28 years$2,630$1,933$1,397$995$701$141
29 years$2,512$1,823$1,300$913$633$119
30 years$2,402$1,722$1,211$838$572$100
31 years$2,299$1,628$1,129$769$517$84
32 years$2,203$1,540$1,053$707$468$71
33 years$2,113$1,459$983$650$423$60
34 years$2,029$1,382$919$598$383$50
35 years$1,949$1,311$859$551$347$42
36 years$1,874$1,245$804$507$315$36
37 years$1,803$1,182$752$467$285$30
38 years$1,736$1,123$704$431$258$25
39 years$1,673$1,068$660$397$234$21
40 years$1,613$1,016$619$366$213$18
41 years$1,556$967$580$338$193$15
42 years$1,502$921$544$312$175$13
43 years$1,451$878$511$288$159$11
44 years$1,402$837$479$266$144$9
45 years$1,355$798$450$246$131$8
46 years$1,311$761$423$227$119$6
47 years$1,269$726$397$210$108$5
48 years$1,228$693$373$194$98$5
49 years$1,189$662$351$179$89$4
50 years$1,152$633$330$165$81$3

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 $6,596 every year, while hoping to spend $52,075 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: 55/22/23 Blend
59$1,180,000$1,180,000$1,180,000$1,180,000
60$1,307,164$1,244,624$1,226,334$1,370,504
61$1,385,087$1,250,203$1,212,009$1,420,256
62$1,469,213$1,254,310$1,195,458$1,468,389
63$1,560,120$1,256,818$1,176,553$1,519,707
64$1,658,442$1,257,592$1,155,157$1,574,531
65$1,764,878$1,256,489$1,131,130$1,633,218
66$1,880,194$1,253,355$1,104,321$1,696,163
67$2,005,234$1,248,030$1,074,576$1,763,803
68$2,140,926$1,240,342$1,041,733$1,836,621
69$2,288,290$1,230,108$1,005,620$1,915,154
70$2,448,449$1,217,136$966,062$1,999,996
71$2,622,636$1,201,222$922,870$2,091,804
72$2,812,210$1,182,147$875,852$2,191,304
73$3,018,666$1,159,683$824,804$2,299,301
74$3,243,649$1,133,586$769,513$2,416,686
75$3,488,967$1,103,598$709,758$2,544,444
76$3,756,614$1,069,446$645,307$2,683,664
77$4,048,781$1,030,842$575,917$2,835,550
78$4,367,883$987,479$501,337$3,001,436
79$4,716,576$939,035$421,301$3,182,795
80$5,097,786$885,167$335,533$3,381,254
81$5,514,733$825,512$243,746$3,598,615
82$5,970,963$759,690$145,639$3,836,867
83$6,470,381$687,294$40,898$4,098,209
84$7,017,287$607,898$0$4,385,071
85$7,616,415$521,050$0$4,717,531
86$8,272,980$426,273$0$5,093,004
87$8,992,725$323,061$0$5,504,804
88$9,781,975$210,883$0$5,956,642
89$10,647,696$89,176$0$6,452,610
90$11,597,562$0$0$6,997,222
91$12,640,023$0$0$7,605,779
92$13,784,391$0$0$8,297,637
93$15,040,918$0$0$9,057,420
94$16,420,903$0$0$9,891,975
95$17,936,790$0$0$10,808,840
96$19,602,287$0$0$11,816,325
97$21,432,497$0$0$12,923,579
98$23,444,058$0$0$14,140,687
99$25,655,300$0$0$15,478,754
100$28,086,416$0$0$16,950,020