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

Use the below retirement simulation to view the chances of a successful retirement.
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%16.2%
1 years$98,269$97,394$96,540$95,706$94,892$92,486
2 years$48,648$47,742$46,864$46,013$45,187$42,778
3 years$32,110$31,200$30,324$29,481$28,668$26,332
4 years$23,842$22,935$22,068$21,239$20,447$18,201
5 years$18,883$17,982$17,126$16,314$15,543$13,395
6 years$15,578$14,683$13,840$13,046$12,299$10,250
7 years$13,218$12,331$11,501$10,726$10,002$8,053
8 years$11,449$10,570$9,754$8,998$8,298$6,447
9 years$10,074$9,203$8,401$7,664$6,988$5,234
10 years$8,975$8,112$7,324$6,607$5,954$4,295
11 years$8,076$7,222$6,448$5,750$5,121$3,554
12 years$7,327$6,482$5,723$5,043$4,437$2,961
13 years$6,694$5,858$5,113$4,452$3,870$2,480
14 years$6,152$5,324$4,594$3,952$3,392$2,086
15 years$5,682$4,864$4,148$3,525$2,987$1,761
16 years$5,272$4,463$3,760$3,156$2,640$1,491
17 years$4,910$4,110$3,422$2,836$2,340$1,266
18 years$4,589$3,798$3,124$2,556$2,081$1,076
19 years$4,302$3,520$2,860$2,309$1,855$917
20 years$4,044$3,271$2,624$2,091$1,657$783
21 years$3,811$3,046$2,414$1,898$1,483$669
22 years$3,600$2,844$2,225$1,726$1,329$572
23 years$3,407$2,660$2,054$1,572$1,193$490
24 years$3,230$2,492$1,900$1,433$1,072$419
25 years$3,068$2,339$1,760$1,309$965$360
26 years$2,919$2,198$1,632$1,197$869$308
27 years$2,780$2,069$1,515$1,096$784$265
28 years$2,652$1,949$1,409$1,004$707$227
29 years$2,533$1,839$1,311$921$638$195
30 years$2,422$1,737$1,221$845$577$168
31 years$2,319$1,642$1,138$776$522$144
32 years$2,222$1,553$1,062$713$472$124
33 years$2,131$1,471$992$656$427$106
34 years$2,046$1,394$927$603$387$91
35 years$1,966$1,322$866$555$350$79
36 years$1,890$1,255$810$512$317$68
37 years$1,819$1,192$759$471$288$58
38 years$1,751$1,133$710$434$261$50
39 years$1,687$1,077$666$401$236$43
40 years$1,627$1,025$624$369$214$37
41 years$1,570$976$585$341$195$32
42 years$1,515$929$549$315$176$27
43 years$1,463$885$515$290$160$24
44 years$1,414$844$483$268$145$20
45 years$1,367$805$454$248$132$17
46 years$1,322$768$426$229$120$15
47 years$1,279$733$400$211$109$13
48 years$1,238$699$376$195$99$11
49 years$1,199$668$354$180$90$10
50 years$1,162$638$333$167$82$8

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 $4,198 every year, while hoping to spend $28,530 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: 45/34/21 Blend
59$1,190,000$1,190,000$1,190,000$1,190,000
60$1,315,710$1,252,640$1,234,195$1,366,790
61$1,419,557$1,283,664$1,245,185$1,434,151
62$1,533,040$1,315,252$1,255,587$1,504,018
63$1,657,112$1,347,401$1,265,351$1,579,199
64$1,792,822$1,380,108$1,274,424$1,660,203
65$1,941,324$1,413,368$1,282,753$1,747,588
66$2,103,892$1,447,175$1,290,277$1,841,972
67$2,281,925$1,481,523$1,296,937$1,944,032
68$2,476,965$1,516,401$1,302,669$2,054,516
69$2,690,711$1,551,801$1,307,404$2,174,249
70$2,925,034$1,587,710$1,311,073$2,304,139
71$3,181,994$1,624,114$1,313,600$2,445,186
72$3,463,860$1,660,998$1,314,908$2,598,493
73$3,773,132$1,698,345$1,314,915$2,765,276
74$4,112,561$1,736,134$1,313,535$2,946,874
75$4,485,182$1,774,344$1,310,678$3,144,763
76$4,894,334$1,812,950$1,306,249$3,360,572
77$5,343,696$1,851,925$1,300,149$3,596,094
78$5,837,323$1,891,239$1,292,274$3,853,306
79$6,379,680$1,930,860$1,282,515$4,134,386
80$6,975,686$1,970,750$1,270,758$4,441,738
81$7,630,761$2,010,872$1,256,883$4,778,008
82$8,350,876$2,051,182$1,240,766$5,146,116
83$9,142,608$2,091,633$1,222,274$5,549,277
84$10,013,205$2,132,174$1,201,272$5,991,039
85$10,970,652$2,172,751$1,177,614$6,475,310
86$12,023,746$2,213,303$1,151,151$7,006,399
87$13,182,179$2,253,765$1,121,726$7,589,056
88$14,456,630$2,294,069$1,089,173$8,228,515
89$15,858,866$2,334,138$1,053,320$8,930,547
90$17,401,852$2,373,892$1,013,987$9,701,514
91$19,099,871$2,413,244$970,987$10,548,428
92$20,968,664$2,452,099$924,121$11,479,018
93$23,025,574$2,490,357$873,184$12,501,804
94$25,289,708$2,527,910$817,962$13,626,176
95$27,782,123$2,564,642$758,228$14,862,486
96$30,526,019$2,600,430$693,749$16,222,145
97$33,546,962$2,635,139$624,278$17,717,730
98$36,873,120$2,668,630$549,560$19,363,103
99$40,535,534$2,700,748$469,326$21,173,546
100$44,568,407$2,731,334$383,297$23,165,901