Can I retire at age 60 with 1,190,000?

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 $1,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$98,269$97,394$96,540$95,706$94,892$93,823
2 years$48,648$47,742$46,864$46,013$45,187$44,111
3 years$32,110$31,200$30,324$29,481$28,668$27,618
4 years$23,842$22,935$22,068$21,239$20,447$19,431
5 years$18,883$17,982$17,126$16,314$15,543$14,565
6 years$15,578$14,683$13,840$13,046$12,299$11,359
7 years$13,218$12,331$11,501$10,726$10,002$9,101
8 years$11,449$10,570$9,754$8,998$8,298$7,436
9 years$10,074$9,203$8,401$7,664$6,988$6,164
10 years$8,975$8,112$7,324$6,607$5,954$5,168
11 years$8,076$7,222$6,448$5,750$5,121$4,372
12 years$7,327$6,482$5,723$5,043$4,437$3,725
13 years$6,694$5,858$5,113$4,452$3,870$3,193
14 years$6,152$5,324$4,594$3,952$3,392$2,750
15 years$5,682$4,864$4,148$3,525$2,987$2,378
16 years$5,272$4,463$3,760$3,156$2,640$2,064
17 years$4,910$4,110$3,422$2,836$2,340$1,796
18 years$4,589$3,798$3,124$2,556$2,081$1,567
19 years$4,302$3,520$2,860$2,309$1,855$1,370
20 years$4,044$3,271$2,624$2,091$1,657$1,200
21 years$3,811$3,046$2,414$1,898$1,483$1,053
22 years$3,600$2,844$2,225$1,726$1,329$925
23 years$3,407$2,660$2,054$1,572$1,193$814
24 years$3,230$2,492$1,900$1,433$1,072$717
25 years$3,068$2,339$1,760$1,309$965$632
26 years$2,919$2,198$1,632$1,197$869$557
27 years$2,780$2,069$1,515$1,096$784$492
28 years$2,652$1,949$1,409$1,004$707$434
29 years$2,533$1,839$1,311$921$638$384
30 years$2,422$1,737$1,221$845$577$339
31 years$2,319$1,642$1,138$776$522$300
32 years$2,222$1,553$1,062$713$472$266
33 years$2,131$1,471$992$656$427$235
34 years$2,046$1,394$927$603$387$208
35 years$1,966$1,322$866$555$350$184
36 years$1,890$1,255$810$512$317$163
37 years$1,819$1,192$759$471$288$145
38 years$1,751$1,133$710$434$261$128
39 years$1,687$1,077$666$401$236$114
40 years$1,627$1,025$624$369$214$101
41 years$1,570$976$585$341$195$89
42 years$1,515$929$549$315$176$79
43 years$1,463$885$515$290$160$70
44 years$1,414$844$483$268$145$62
45 years$1,367$805$454$248$132$55
46 years$1,322$768$426$229$120$49
47 years$1,279$733$400$211$109$43
48 years$1,238$699$376$195$99$38
49 years$1,199$668$354$180$90$34
50 years$1,162$638$333$167$82$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,190,000, adding $3,872 every year, while hoping to spend $56,755 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: 51/28/21 Blend
59$1,190,000$1,190,000$1,190,000$1,190,000
60$1,315,374$1,252,304$1,233,859$1,374,593
61$1,389,155$1,253,280$1,214,806$1,416,897
62$1,468,560$1,252,402$1,193,213$1,456,718
63$1,554,102$1,249,518$1,168,935$1,498,820
64$1,646,345$1,244,469$1,141,819$1,543,442
65$1,745,910$1,237,086$1,111,707$1,590,847
66$1,853,476$1,227,187$1,078,433$1,641,330
67$1,969,793$1,214,581$1,041,823$1,695,216
68$2,095,684$1,199,067$1,001,696$1,752,869
69$2,232,051$1,180,429$957,860$1,814,695
70$2,379,891$1,158,441$910,119$1,881,141
71$2,540,295$1,132,860$858,263$1,952,706
72$2,714,467$1,103,431$802,077$2,029,945
73$2,903,728$1,069,886$741,332$2,113,471
74$3,109,535$1,031,936$675,793$2,203,969
75$3,333,487$989,280$605,212$2,302,194
76$3,577,345$941,598$529,329$2,408,987
77$3,843,049$888,550$447,876$2,525,278
78$4,132,729$829,779$360,569$2,652,101
79$4,448,735$764,905$267,115$2,790,599
80$4,793,648$693,528$167,206$2,942,041
81$5,170,314$615,224$60,521$3,107,830
82$5,581,862$529,547$0$3,289,523
83$6,031,740$436,023$0$3,500,792
84$6,523,743$334,153$0$3,746,843
85$7,062,047$223,409$0$4,016,294
86$7,651,255$103,235$0$4,311,565
87$8,296,431$0$0$4,635,331
88$9,003,155$0$0$4,998,850
89$9,777,570$0$0$5,432,162
90$10,626,442$0$0$5,907,260
91$11,557,224$0$0$6,428,329
92$12,578,122$0$0$6,999,982
93$13,698,177$0$0$7,627,296
94$14,927,345$0$0$8,315,866
95$16,276,595$0$0$9,071,853
96$17,758,009$0$0$9,902,045
97$19,384,894$0$0$10,813,921
98$21,171,912$0$0$11,815,716
99$23,135,214$0$0$12,916,506
100$25,292,590$0$0$14,126,288