Can I retire at age 60 with 1,200,000?

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 $1,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$99,095$98,212$97,351$96,510$95,690$93,567
2 years$49,057$48,143$47,258$46,399$45,567$43,438
3 years$32,380$31,462$30,579$29,728$28,909$26,843
4 years$24,043$23,128$22,254$21,418$20,618$18,629
5 years$19,042$18,133$17,270$16,451$15,674$13,768
6 years$15,709$14,807$13,956$13,156$12,402$10,581
7 years$13,329$12,435$11,598$10,816$10,086$8,351
8 years$11,546$10,659$9,836$9,073$8,367$6,717
9 years$10,159$9,280$8,472$7,729$7,047$5,480
10 years$9,050$8,180$7,386$6,662$6,004$4,519
11 years$8,143$7,282$6,502$5,798$5,164$3,759
12 years$7,388$6,536$5,771$5,086$4,475$3,148
13 years$6,750$5,907$5,156$4,490$3,902$2,650
14 years$6,204$5,369$4,632$3,986$3,421$2,242
15 years$5,730$4,905$4,182$3,554$3,012$1,903
16 years$5,316$4,500$3,792$3,183$2,662$1,620
17 years$4,952$4,144$3,451$2,860$2,360$1,383
18 years$4,628$3,830$3,150$2,577$2,098$1,184
19 years$4,339$3,549$2,884$2,329$1,870$1,015
20 years$4,078$3,298$2,646$2,109$1,671$871
21 years$3,843$3,072$2,434$1,914$1,495$749
22 years$3,630$2,868$2,244$1,740$1,340$644
23 years$3,435$2,682$2,071$1,585$1,203$555
24 years$3,257$2,513$1,916$1,446$1,081$479
25 years$3,094$2,358$1,774$1,320$973$413
26 years$2,943$2,216$1,646$1,207$876$356
27 years$2,804$2,086$1,528$1,105$790$308
28 years$2,675$1,966$1,421$1,012$713$266
29 years$2,555$1,854$1,322$928$644$230
30 years$2,443$1,751$1,231$852$582$199
31 years$2,338$1,655$1,148$782$526$172
32 years$2,241$1,566$1,071$719$476$149
33 years$2,149$1,483$1,000$661$431$129
34 years$2,063$1,406$934$608$390$111
35 years$1,982$1,333$874$560$353$96
36 years$1,906$1,266$817$516$320$84
37 years$1,834$1,202$765$475$290$72
38 years$1,766$1,142$716$438$263$63
39 years$1,702$1,086$671$404$238$54
40 years$1,641$1,034$629$373$216$47
41 years$1,583$984$590$344$196$41
42 years$1,528$937$553$317$178$35
43 years$1,476$893$519$293$162$31
44 years$1,426$851$487$270$147$26
45 years$1,378$811$458$250$133$23
46 years$1,333$774$430$231$121$20
47 years$1,290$739$404$213$110$17
48 years$1,249$705$379$197$100$15
49 years$1,209$673$357$182$91$13
50 years$1,172$643$335$168$82$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,200,000, adding $6,486 every year, while hoping to spend $47,389 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: 86/9/5 Blend
59$1,200,000$1,200,000$1,200,000$1,200,000
60$1,329,090$1,265,490$1,246,890$1,442,886
61$1,414,236$1,277,078$1,238,240$1,529,584
62$1,506,478$1,287,645$1,227,711$1,617,607
63$1,606,491$1,297,091$1,215,191$1,712,789
64$1,715,015$1,305,311$1,200,562$1,815,818
65$1,832,865$1,312,190$1,183,700$1,927,449
66$1,960,938$1,317,608$1,164,474$2,048,513
67$2,100,220$1,321,437$1,142,750$2,179,926
68$2,251,796$1,323,540$1,118,385$2,322,696
69$2,416,858$1,323,773$1,091,231$2,477,933
70$2,596,722$1,321,982$1,061,131$2,646,860
71$2,792,832$1,318,003$1,027,923$2,830,823
72$3,006,779$1,311,664$991,437$3,031,304
73$3,240,315$1,302,780$951,495$3,249,938
74$3,495,367$1,291,157$907,910$3,488,523
75$3,774,058$1,276,586$860,488$3,749,040
76$4,078,723$1,258,850$809,026$4,033,674
77$4,411,935$1,237,716$753,310$4,344,828
78$4,776,526$1,212,938$693,120$4,685,153
79$5,175,614$1,184,254$628,222$5,057,568
80$5,612,634$1,151,390$558,374$5,465,288
81$6,091,366$1,114,051$483,323$5,911,858
82$6,615,976$1,071,930$402,805$6,401,180
83$7,191,049$1,024,699$316,543$6,937,558
84$7,821,638$972,011$224,249$7,525,731
85$8,513,305$913,500$125,621$8,170,921
86$9,272,179$848,778$20,347$8,878,884
87$10,105,010$777,436$0$9,655,962
88$11,019,232$699,042$0$10,514,051
89$12,023,035$613,136$0$11,457,419
90$13,125,441$519,236$0$12,493,486
91$14,336,388$416,831$0$13,631,621
92$15,666,825$305,381$0$14,882,150
93$17,128,812$184,316$0$16,256,450
94$18,735,637$53,033$0$17,767,056
95$20,501,938$0$0$19,427,782
96$22,443,843$0$0$21,262,674
97$24,579,119$0$0$23,286,072
98$26,927,343$0$0$25,511,277
99$29,510,082$0$0$27,958,729
100$32,351,099$0$0$30,650,948