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%16.1%
1 years$101,572$100,667$99,785$98,923$98,082$95,633
2 years$50,283$49,347$48,439$47,559$46,706$44,254
3 years$33,189$32,249$31,343$30,472$29,632$27,254
4 years$24,644$23,706$22,810$21,953$21,134$18,848
5 years$19,518$18,586$17,701$16,862$16,066$13,878
6 years$16,102$15,177$14,305$13,485$12,712$10,626
7 years$13,663$12,745$11,888$11,087$10,338$8,353
8 years$11,834$10,925$10,082$9,300$8,577$6,691
9 years$10,413$9,512$8,683$7,922$7,223$5,436
10 years$9,276$8,385$7,570$6,829$6,154$4,463
11 years$8,347$7,464$6,665$5,943$5,293$3,696
12 years$7,573$6,700$5,915$5,213$4,587$3,081
13 years$6,919$6,055$5,285$4,602$4,000$2,582
14 years$6,359$5,503$4,748$4,085$3,506$2,173
15 years$5,873$5,027$4,287$3,643$3,087$1,836
16 years$5,449$4,613$3,887$3,262$2,728$1,556
17 years$5,076$4,248$3,537$2,931$2,419$1,321
18 years$4,744$3,925$3,229$2,641$2,151$1,125
19 years$4,447$3,638$2,956$2,387$1,917$959
20 years$4,180$3,381$2,713$2,162$1,712$819
21 years$3,939$3,149$2,495$1,962$1,532$700
22 years$3,721$2,939$2,300$1,784$1,374$599
23 years$3,521$2,749$2,123$1,625$1,233$514
24 years$3,339$2,576$1,964$1,482$1,108$440
25 years$3,171$2,417$1,819$1,353$997$378
26 years$3,017$2,272$1,687$1,237$898$324
27 years$2,874$2,138$1,566$1,132$810$278
28 years$2,741$2,015$1,456$1,038$731$239
29 years$2,618$1,901$1,355$951$660$206
30 years$2,504$1,795$1,262$873$596$177
31 years$2,397$1,697$1,177$802$539$152
32 years$2,297$1,606$1,098$737$488$131
33 years$2,203$1,520$1,025$678$441$112
34 years$2,115$1,441$958$624$400$97
35 years$2,032$1,367$895$574$362$83
36 years$1,954$1,297$838$529$328$72
37 years$1,880$1,232$784$487$297$62
38 years$1,810$1,171$734$449$269$53
39 years$1,744$1,113$688$414$244$46
40 years$1,682$1,059$645$382$222$39
41 years$1,622$1,008$605$352$201$34
42 years$1,566$960$567$325$182$29
43 years$1,512$915$532$300$166$25
44 years$1,461$872$500$277$150$22
45 years$1,413$832$469$256$136$19
46 years$1,366$793$441$236$124$16
47 years$1,322$757$414$218$112$14
48 years$1,280$723$389$202$102$12
49 years$1,240$690$366$187$93$10
50 years$1,201$659$344$172$84$9

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 $5,744 every year, while hoping to spend $25,794 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: 69/6/25 Blend
59$1,230,000$1,230,000$1,230,000$1,230,000
60$1,361,385$1,296,195$1,277,130$1,446,247
61$1,472,802$1,332,264$1,292,469$1,539,925
62$1,594,718$1,369,236$1,307,458$1,638,899
63$1,728,179$1,407,127$1,322,057$1,746,609
64$1,874,332$1,445,956$1,336,225$1,863,921
65$2,034,445$1,485,738$1,349,919$1,991,787
66$2,209,910$1,526,491$1,363,093$2,131,256
67$2,402,263$1,568,232$1,375,699$2,283,484
68$2,613,195$1,610,976$1,387,686$2,449,745
69$2,844,567$1,654,741$1,399,000$2,631,442
70$3,098,432$1,699,542$1,409,586$2,830,121
71$3,377,048$1,745,396$1,419,383$3,047,486
72$3,682,904$1,792,317$1,428,329$3,285,414
73$4,018,742$1,840,322$1,436,360$3,545,973
74$4,387,580$1,889,425$1,443,405$3,831,444
75$4,792,747$1,939,639$1,449,392$4,144,337
76$5,237,906$1,990,980$1,454,245$4,487,422
77$5,727,094$2,043,460$1,457,884$4,863,747
78$6,264,759$2,097,092$1,460,225$5,276,673
79$6,855,802$2,151,887$1,461,180$5,729,905
80$7,505,621$2,207,856$1,460,656$6,227,525
81$8,220,162$2,265,009$1,458,556$6,774,030
82$9,005,979$2,323,355$1,454,779$7,374,377
83$9,870,291$2,382,902$1,449,216$8,034,029
84$10,821,053$2,443,656$1,441,757$8,759,006
85$11,867,028$2,505,623$1,432,284$9,555,941
86$13,017,873$2,568,806$1,420,673$10,432,146
87$14,284,227$2,633,209$1,406,797$11,395,678
88$15,677,813$2,698,831$1,390,519$12,455,415
89$17,211,547$2,765,671$1,371,698$13,621,143
90$18,899,662$2,833,726$1,350,188$14,903,646
91$20,757,840$2,902,990$1,325,831$16,314,807
92$22,803,359$2,973,457$1,298,466$17,867,723
93$25,055,261$3,045,115$1,267,924$19,576,828
94$27,534,524$3,117,952$1,234,026$21,458,026
95$30,264,267$3,191,953$1,196,587$23,528,849
96$33,269,961$3,267,098$1,155,412$25,808,612
97$36,579,677$3,343,365$1,110,298$28,318,607
98$40,224,343$3,420,729$1,061,032$31,082,294
99$44,238,042$3,499,161$1,007,392$34,125,530
100$48,658,329$3,578,626$949,146$37,476,810