Can I retire at age 60 with 1,320,000?

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 $1,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$109,004$108,033$107,086$106,161$105,259$101,282
2 years$53,963$52,958$51,984$51,039$50,123$46,163
3 years$35,618$34,608$33,637$32,701$31,800$27,981
4 years$26,447$25,441$24,479$23,559$22,680$19,031
5 years$20,946$19,946$18,997$18,096$17,241$13,772
6 years$17,280$16,287$15,352$14,471$13,642$10,355
7 years$14,662$13,678$12,758$11,898$11,095$7,989
8 years$12,700$11,725$10,820$9,981$9,204$6,276
9 years$11,175$10,208$9,319$8,501$7,751$4,997
10 years$9,955$8,998$8,124$7,328$6,604$4,019
11 years$8,958$8,011$7,153$6,378$5,680$3,258
12 years$8,127$7,190$6,348$5,594$4,922$2,657
13 years$7,425$6,498$5,671$4,939$4,292$2,177
14 years$6,824$5,906$5,096$4,384$3,763$1,791
15 years$6,303$5,395$4,601$3,910$3,313$1,478
16 years$5,848$4,950$4,171$3,501$2,928$1,223
17 years$5,447$4,559$3,796$3,146$2,596$1,014
18 years$5,091$4,213$3,465$2,835$2,308$842
19 years$4,772$3,904$3,172$2,561$2,057$701
20 years$4,486$3,628$2,911$2,320$1,838$583
21 years$4,228$3,379$2,678$2,105$1,645$486
22 years$3,993$3,154$2,468$1,914$1,474$406
23 years$3,779$2,950$2,279$1,743$1,323$339
24 years$3,583$2,764$2,107$1,590$1,189$283
25 years$3,403$2,594$1,952$1,452$1,070$236
26 years$3,237$2,438$1,810$1,328$964$197
27 years$3,084$2,294$1,681$1,215$869$165
28 years$2,942$2,162$1,563$1,114$784$138
29 years$2,810$2,040$1,454$1,021$708$116
30 years$2,687$1,926$1,355$937$640$97
31 years$2,572$1,821$1,263$861$579$81
32 years$2,465$1,723$1,178$791$523$68
33 years$2,364$1,632$1,100$727$474$57
34 years$2,269$1,546$1,028$669$429$47
35 years$2,180$1,467$961$616$388$40
36 years$2,096$1,392$899$567$352$33
37 years$2,017$1,322$841$523$319$28
38 years$1,943$1,257$788$482$289$23
39 years$1,872$1,195$738$444$262$20
40 years$1,805$1,137$692$410$238$16
41 years$1,741$1,082$649$378$216$14
42 years$1,681$1,031$609$349$196$11
43 years$1,623$982$571$322$178$10
44 years$1,568$936$536$297$161$8
45 years$1,516$893$503$275$146$7
46 years$1,466$852$473$254$133$6
47 years$1,419$813$444$234$121$5
48 years$1,374$776$417$217$110$4
49 years$1,330$741$392$200$100$3
50 years$1,289$708$369$185$90$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,320,000, adding $2,307 every year, while hoping to spend $59,066 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: 82/11/7 Blend
59$1,320,000$1,320,000$1,320,000$1,320,000
60$1,457,020$1,387,060$1,366,600$1,575,323
61$1,542,790$1,392,180$1,349,535$1,658,145
62$1,635,329$1,395,571$1,329,919$1,740,920
63$1,735,265$1,397,087$1,307,604$1,829,974
64$1,843,289$1,396,570$1,282,435$1,925,900
65$1,960,158$1,393,856$1,254,250$2,029,354
66$2,086,706$1,388,767$1,222,880$2,141,056
67$2,223,851$1,381,118$1,188,147$2,261,801
68$2,372,600$1,370,709$1,149,866$2,392,464
69$2,534,062$1,357,330$1,107,843$2,534,009
70$2,709,456$1,340,759$1,061,876$2,687,495
71$2,900,123$1,320,758$1,011,751$2,854,095
72$3,107,538$1,297,078$957,248$3,035,095
73$3,333,325$1,269,454$898,134$3,231,916
74$3,579,271$1,237,603$834,168$3,446,121
75$3,847,340$1,201,229$765,096$3,679,436
76$4,139,696$1,160,017$690,654$3,933,759
77$4,458,721$1,113,633$610,566$4,211,184
78$4,807,034$1,061,725$524,544$4,514,018
79$5,187,521$1,003,919$432,286$4,844,803
80$5,603,358$939,821$333,478$5,206,342
81$6,058,042$869,014$227,790$5,601,722
82$6,555,423$791,056$114,882$6,034,348
83$7,099,739$705,481$0$6,507,969
84$7,695,659$611,797$0$7,027,141
85$8,348,323$509,481$0$7,605,185
86$9,063,392$397,985$0$8,238,564
87$9,847,099$276,728$0$8,932,843
88$10,706,310$145,095$0$9,694,155
89$11,648,587$2,438$0$10,529,261
90$12,682,259$0$0$11,445,605
91$13,816,499$0$0$12,469,786
92$15,061,412$0$0$13,594,256
93$16,428,129$0$0$14,828,776
94$17,928,909$0$0$16,184,427
95$19,577,261$0$0$17,673,413
96$21,388,062$0$0$19,309,177
97$23,377,703$0$0$21,106,532
98$25,564,241$0$0$23,081,793
99$27,967,569$0$0$25,252,935
100$30,609,604$0$0$27,639,764