Can I retire at age 60 with 1,220,000?

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 $1,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$100,746$99,849$98,974$98,119$97,285$93,684
2 years$49,874$48,946$48,045$47,173$46,326$42,739
3 years$32,919$31,987$31,089$30,224$29,391$25,931
4 years$24,443$23,513$22,625$21,775$20,962$17,654
5 years$19,359$18,435$17,558$16,725$15,935$12,789
6 years$15,971$15,053$14,189$13,375$12,609$9,627
7 years$13,552$12,642$11,791$10,996$10,254$7,435
8 years$11,738$10,836$10,000$9,225$8,507$5,848
9 years$10,328$9,435$8,613$7,857$7,164$4,662
10 years$9,201$8,317$7,509$6,773$6,104$3,754
11 years$8,279$7,404$6,611$5,895$5,250$3,047
12 years$7,512$6,645$5,867$5,170$4,549$2,488
13 years$6,863$6,005$5,242$4,565$3,967$2,042
14 years$6,307$5,459$4,710$4,052$3,478$1,682
15 years$5,826$4,987$4,252$3,614$3,062$1,390
16 years$5,405$4,575$3,855$3,236$2,706$1,152
17 years$5,034$4,213$3,508$2,907$2,399$957
18 years$4,705$3,893$3,202$2,620$2,133$796
19 years$4,411$3,608$2,932$2,367$1,902$663
20 years$4,146$3,353$2,691$2,144$1,699$553
21 years$3,907$3,123$2,475$1,946$1,520$461
22 years$3,690$2,915$2,281$1,769$1,362$386
23 years$3,493$2,727$2,106$1,611$1,223$322
24 years$3,312$2,555$1,948$1,470$1,099$270
25 years$3,145$2,398$1,804$1,342$989$226
26 years$2,992$2,253$1,673$1,227$891$189
27 years$2,850$2,121$1,554$1,123$803$158
28 years$2,719$1,998$1,444$1,029$725$133
29 years$2,597$1,885$1,344$944$655$111
30 years$2,483$1,780$1,252$866$591$93
31 years$2,377$1,683$1,167$795$535$78
32 years$2,278$1,592$1,089$731$484$65
33 years$2,185$1,508$1,017$672$438$55
34 years$2,097$1,429$950$619$396$46
35 years$2,015$1,356$888$569$359$39
36 years$1,938$1,287$831$524$325$32
37 years$1,864$1,222$778$483$295$27
38 years$1,795$1,161$728$445$267$23
39 years$1,730$1,104$682$411$242$19
40 years$1,668$1,051$640$379$220$16
41 years$1,609$1,000$600$349$199$13
42 years$1,553$953$563$323$181$11
43 years$1,500$908$528$298$164$9
44 years$1,450$865$495$275$149$8
45 years$1,401$825$465$254$135$7
46 years$1,355$787$437$234$123$6
47 years$1,312$751$411$217$112$5
48 years$1,270$717$386$200$101$4
49 years$1,230$685$363$185$92$3
50 years$1,191$654$341$171$84$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,220,000, adding $4,514 every year, while hoping to spend $30,381 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: 64/12/24 Blend
59$1,220,000$1,220,000$1,220,000$1,220,000
60$1,349,096$1,284,436$1,265,526$1,426,708
61$1,454,379$1,315,048$1,275,596$1,510,242
62$1,569,382$1,346,142$1,284,985$1,597,675
63$1,695,065$1,377,710$1,293,639$1,692,520
64$1,832,485$1,409,740$1,301,498$1,795,507
65$1,982,804$1,442,223$1,308,504$1,907,438
66$2,147,302$1,475,145$1,314,591$2,029,201
67$2,327,391$1,508,490$1,319,694$2,161,772
68$2,524,622$1,542,243$1,323,741$2,306,224
69$2,740,705$1,576,385$1,326,658$2,463,745
70$2,977,524$1,610,895$1,328,368$2,635,640
71$3,237,152$1,645,750$1,328,789$2,823,350
72$3,521,874$1,680,924$1,327,836$3,028,460
73$3,834,206$1,716,389$1,325,419$3,252,719
74$4,176,917$1,752,115$1,321,443$3,498,055
75$4,553,062$1,788,068$1,315,810$3,766,591
76$4,966,001$1,824,210$1,308,417$4,060,669
77$5,419,439$1,860,502$1,299,155$4,382,869
78$5,917,455$1,896,900$1,287,909$4,736,035
79$6,464,544$1,933,356$1,274,562$5,123,301
80$7,065,656$1,969,819$1,258,989$5,548,121
81$7,726,245$2,006,233$1,241,058$6,014,303
82$8,452,322$2,042,538$1,220,633$6,526,045
83$9,250,505$2,078,669$1,197,571$7,087,970
84$10,128,089$2,114,556$1,171,721$7,705,177
85$11,093,108$2,150,123$1,142,928$8,383,286
86$12,154,416$2,185,290$1,111,027$9,128,489
87$13,321,766$2,219,969$1,075,846$9,947,612
88$14,605,905$2,254,066$1,037,206$10,848,178
89$16,018,674$2,287,482$994,919$11,838,480
90$17,573,119$2,320,109$948,789$12,927,655
91$19,283,614$2,351,831$898,610$14,125,779
92$21,165,998$2,382,526$844,169$15,443,951
93$23,237,722$2,412,062$785,241$16,894,409
94$25,518,015$2,440,298$721,591$18,490,638
95$28,028,064$2,467,084$652,976$20,247,502
96$30,791,215$2,492,260$579,139$22,181,384
97$33,833,192$2,515,655$499,814$24,310,337
98$37,182,342$2,537,085$414,722$26,654,263
99$40,869,896$2,556,359$323,571$29,235,093
100$44,930,273$2,573,267$226,058$32,076,999