Can I retire at age 60 with 1,230,000?

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 $1,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$101,572$100,667$99,785$98,923$98,082$96,299
2 years$50,283$49,347$48,439$47,559$46,706$44,915
3 years$33,189$32,249$31,343$30,472$29,632$27,891
4 years$24,644$23,706$22,810$21,953$21,134$19,455
5 years$19,518$18,586$17,701$16,862$16,066$14,453
6 years$16,102$15,177$14,305$13,485$12,712$11,169
7 years$13,663$12,745$11,888$11,087$10,338$8,864
8 years$11,834$10,925$10,082$9,300$8,577$7,171
9 years$10,413$9,512$8,683$7,922$7,223$5,886
10 years$9,276$8,385$7,570$6,829$6,154$4,884
11 years$8,347$7,464$6,665$5,943$5,293$4,088
12 years$7,573$6,700$5,915$5,213$4,587$3,445
13 years$6,919$6,055$5,285$4,602$4,000$2,920
14 years$6,359$5,503$4,748$4,085$3,506$2,487
15 years$5,873$5,027$4,287$3,643$3,087$2,126
16 years$5,449$4,613$3,887$3,262$2,728$1,823
17 years$5,076$4,248$3,537$2,931$2,419$1,568
18 years$4,744$3,925$3,229$2,641$2,151$1,351
19 years$4,447$3,638$2,956$2,387$1,917$1,167
20 years$4,180$3,381$2,713$2,162$1,712$1,009
21 years$3,939$3,149$2,495$1,962$1,532$874
22 years$3,721$2,939$2,300$1,784$1,374$758
23 years$3,521$2,749$2,123$1,625$1,233$658
24 years$3,339$2,576$1,964$1,482$1,108$572
25 years$3,171$2,417$1,819$1,353$997$497
26 years$3,017$2,272$1,687$1,237$898$433
27 years$2,874$2,138$1,566$1,132$810$377
28 years$2,741$2,015$1,456$1,038$731$328
29 years$2,618$1,901$1,355$951$660$286
30 years$2,504$1,795$1,262$873$596$249
31 years$2,397$1,697$1,177$802$539$218
32 years$2,297$1,606$1,098$737$488$190
33 years$2,203$1,520$1,025$678$441$166
34 years$2,115$1,441$958$624$400$145
35 years$2,032$1,367$895$574$362$126
36 years$1,954$1,297$838$529$328$110
37 years$1,880$1,232$784$487$297$96
38 years$1,810$1,171$734$449$269$84
39 years$1,744$1,113$688$414$244$73
40 years$1,682$1,059$645$382$222$64
41 years$1,622$1,008$605$352$201$56
42 years$1,566$960$567$325$182$49
43 years$1,512$915$532$300$166$43
44 years$1,461$872$500$277$150$37
45 years$1,413$832$469$256$136$33
46 years$1,366$793$441$236$124$29
47 years$1,322$757$414$218$112$25
48 years$1,280$723$389$202$102$22
49 years$1,240$690$366$187$93$19
50 years$1,201$659$344$172$84$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,230,000, adding $3,739 every year, while hoping to spend $53,034 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: 77/10/13 Blend
59$1,230,000$1,230,000$1,230,000$1,230,000
60$1,359,317$1,294,127$1,275,062$1,460,161
61$1,441,539$1,301,111$1,261,349$1,534,113
62$1,530,371$1,306,660$1,245,399$1,608,085
63$1,626,430$1,310,648$1,227,081$1,687,714
64$1,730,396$1,312,940$1,206,258$1,773,542
65$1,843,016$1,313,393$1,182,787$1,866,169
66$1,965,111$1,311,857$1,156,517$1,966,258
67$2,097,583$1,308,169$1,127,292$2,074,535
68$2,241,427$1,302,160$1,094,947$2,191,804
69$2,397,735$1,293,647$1,059,309$2,318,950
70$2,567,708$1,282,440$1,020,200$2,456,949
71$2,752,668$1,268,334$977,431$2,606,875
72$2,954,070$1,251,113$930,805$2,769,915
73$3,173,516$1,230,547$880,118$2,947,375
74$3,412,766$1,206,395$825,153$3,140,697
75$3,673,759$1,178,400$765,687$3,351,467
76$3,958,630$1,146,289$701,484$3,581,438
77$4,269,727$1,109,774$632,301$3,832,539
78$4,609,636$1,068,550$557,880$4,106,899
79$4,981,205$1,022,295$477,955$4,406,864
80$5,387,567$970,667$392,246$4,735,020
81$5,832,175$913,305$300,462$5,094,220
82$6,318,827$849,827$202,298$5,487,606
83$6,851,708$779,830$97,436$5,918,645
84$7,435,427$702,886$0$6,391,158
85$8,075,057$618,544$0$6,911,364
86$8,776,188$526,328$0$7,496,454
87$9,544,975$425,734$0$8,138,068
88$10,388,197$316,230$0$8,841,904
89$11,313,322$197,253$0$9,614,237
90$12,328,573$68,211$0$10,461,984
91$13,443,010$0$0$11,392,767
92$14,666,613$0$0$12,422,855
93$16,010,375$0$0$13,562,387
94$17,486,405$0$0$14,814,131
95$19,108,044$0$0$16,189,407
96$20,889,988$0$0$17,700,685
97$22,848,427$0$0$19,361,702
98$25,001,198$0$0$21,187,592
99$27,367,952$0$0$23,195,029
100$29,970,339$0$0$25,402,384