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

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 $1,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$101,572$100,667$99,785$98,923$98,082$96,180
2 years$50,283$49,347$48,439$47,559$46,706$44,798
3 years$33,189$32,249$31,343$30,472$29,632$27,777
4 years$24,644$23,706$22,810$21,953$21,134$19,346
5 years$19,518$18,586$17,701$16,862$16,066$14,350
6 years$16,102$15,177$14,305$13,485$12,712$11,071
7 years$13,663$12,745$11,888$11,087$10,338$8,772
8 years$11,834$10,925$10,082$9,300$8,577$7,084
9 years$10,413$9,512$8,683$7,922$7,223$5,804
10 years$9,276$8,385$7,570$6,829$6,154$4,807
11 years$8,347$7,464$6,665$5,943$5,293$4,016
12 years$7,573$6,700$5,915$5,213$4,587$3,378
13 years$6,919$6,055$5,285$4,602$4,000$2,858
14 years$6,359$5,503$4,748$4,085$3,506$2,429
15 years$5,873$5,027$4,287$3,643$3,087$2,072
16 years$5,449$4,613$3,887$3,262$2,728$1,773
17 years$5,076$4,248$3,537$2,931$2,419$1,521
18 years$4,744$3,925$3,229$2,641$2,151$1,308
19 years$4,447$3,638$2,956$2,387$1,917$1,127
20 years$4,180$3,381$2,713$2,162$1,712$973
21 years$3,939$3,149$2,495$1,962$1,532$841
22 years$3,721$2,939$2,300$1,784$1,374$727
23 years$3,521$2,749$2,123$1,625$1,233$630
24 years$3,339$2,576$1,964$1,482$1,108$546
25 years$3,171$2,417$1,819$1,353$997$474
26 years$3,017$2,272$1,687$1,237$898$411
27 years$2,874$2,138$1,566$1,132$810$357
28 years$2,741$2,015$1,456$1,038$731$311
29 years$2,618$1,901$1,355$951$660$270
30 years$2,504$1,795$1,262$873$596$235
31 years$2,397$1,697$1,177$802$539$204
32 years$2,297$1,606$1,098$737$488$178
33 years$2,203$1,520$1,025$678$441$155
34 years$2,115$1,441$958$624$400$135
35 years$2,032$1,367$895$574$362$117
36 years$1,954$1,297$838$529$328$102
37 years$1,880$1,232$784$487$297$89
38 years$1,810$1,171$734$449$269$78
39 years$1,744$1,113$688$414$244$68
40 years$1,682$1,059$645$382$222$59
41 years$1,622$1,008$605$352$201$51
42 years$1,566$960$567$325$182$45
43 years$1,512$915$532$300$166$39
44 years$1,461$872$500$277$150$34
45 years$1,413$832$469$256$136$30
46 years$1,366$793$441$236$124$26
47 years$1,322$757$414$218$112$22
48 years$1,280$723$389$202$102$20
49 years$1,240$690$366$187$93$17
50 years$1,201$659$344$172$84$15

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 $6,032 every year, while hoping to spend $22,431 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: 59/19/22 Blend
59$1,230,000$1,230,000$1,230,000$1,230,000
60$1,361,682$1,296,492$1,277,427$1,433,713
61$1,476,707$1,336,154$1,296,354$1,523,021
62$1,602,713$1,377,007$1,315,164$1,617,424
63$1,740,796$1,419,087$1,333,828$1,719,893
64$1,892,164$1,462,428$1,352,318$1,831,213
65$2,058,146$1,507,069$1,370,602$1,952,250
66$2,240,207$1,553,045$1,388,647$2,083,954
67$2,439,960$1,600,397$1,406,419$2,227,376
68$2,659,183$1,649,163$1,423,881$2,383,669
69$2,899,833$1,699,385$1,440,994$2,554,107
70$3,164,065$1,751,104$1,457,717$2,740,090
71$3,454,255$1,804,363$1,474,005$2,943,161
72$3,773,019$1,859,207$1,489,815$3,165,019
73$4,123,239$1,915,681$1,505,096$3,407,537
74$4,508,092$1,973,832$1,519,799$3,672,778
75$4,931,074$2,033,706$1,533,869$3,963,011
76$5,396,040$2,095,354$1,547,250$4,280,742
77$5,907,235$2,158,826$1,559,882$4,628,725
78$6,469,338$2,224,173$1,571,703$5,010,000
79$7,087,501$2,291,448$1,582,645$5,427,912
80$7,767,403$2,360,705$1,592,641$5,886,148
81$8,515,299$2,432,002$1,601,616$6,388,770
82$9,338,084$2,505,393$1,609,494$6,940,254
83$10,243,350$2,580,939$1,616,194$7,545,531
84$11,239,466$2,658,700$1,621,630$8,210,035
85$12,335,651$2,738,736$1,625,715$8,939,752
86$13,542,065$2,821,112$1,628,354$9,741,278
87$14,869,901$2,905,891$1,629,449$10,621,882
88$16,331,493$2,993,141$1,628,897$11,589,573
89$17,940,429$3,082,930$1,626,589$12,653,176
90$19,711,686$3,175,326$1,622,413$13,822,415
91$21,661,763$3,270,402$1,616,249$15,108,006
92$23,808,841$3,368,230$1,607,972$16,521,757
93$26,172,955$3,468,886$1,597,451$18,076,677
94$28,776,181$3,572,446$1,584,550$19,787,105
95$31,642,843$3,678,987$1,569,124$21,668,840
96$34,799,747$3,788,592$1,551,024$23,739,292
97$38,276,430$3,901,341$1,530,091$26,017,645
98$42,105,437$4,017,319$1,506,161$28,525,040
99$46,322,636$4,136,611$1,479,061$31,284,774
100$50,967,545$4,259,305$1,448,611$34,322,520