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

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 $1,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$109,004$108,033$107,086$106,161$105,259$101,524
2 years$53,963$52,958$51,984$51,039$50,123$46,400
3 years$35,618$34,608$33,637$32,701$31,800$28,206
4 years$26,447$25,441$24,479$23,559$22,680$19,243
5 years$20,946$19,946$18,997$18,096$17,241$13,969
6 years$17,280$16,287$15,352$14,471$13,642$10,538
7 years$14,662$13,678$12,758$11,898$11,095$8,157
8 years$12,700$11,725$10,820$9,981$9,204$6,432
9 years$11,175$10,208$9,319$8,501$7,751$5,140
10 years$9,955$8,998$8,124$7,328$6,604$4,150
11 years$8,958$8,011$7,153$6,378$5,680$3,377
12 years$8,127$7,190$6,348$5,594$4,922$2,765
13 years$7,425$6,498$5,671$4,939$4,292$2,275
14 years$6,824$5,906$5,096$4,384$3,763$1,880
15 years$6,303$5,395$4,601$3,910$3,313$1,558
16 years$5,848$4,950$4,171$3,501$2,928$1,295
17 years$5,447$4,559$3,796$3,146$2,596$1,078
18 years$5,091$4,213$3,465$2,835$2,308$900
19 years$4,772$3,904$3,172$2,561$2,057$752
20 years$4,486$3,628$2,911$2,320$1,838$629
21 years$4,228$3,379$2,678$2,105$1,645$527
22 years$3,993$3,154$2,468$1,914$1,474$441
23 years$3,779$2,950$2,279$1,743$1,323$370
24 years$3,583$2,764$2,107$1,590$1,189$311
25 years$3,403$2,594$1,952$1,452$1,070$261
26 years$3,237$2,438$1,810$1,328$964$219
27 years$3,084$2,294$1,681$1,215$869$184
28 years$2,942$2,162$1,563$1,114$784$155
29 years$2,810$2,040$1,454$1,021$708$130
30 years$2,687$1,926$1,355$937$640$109
31 years$2,572$1,821$1,263$861$579$92
32 years$2,465$1,723$1,178$791$523$77
33 years$2,364$1,632$1,100$727$474$65
34 years$2,269$1,546$1,028$669$429$55
35 years$2,180$1,467$961$616$388$46
36 years$2,096$1,392$899$567$352$39
37 years$2,017$1,322$841$523$319$33
38 years$1,943$1,257$788$482$289$27
39 years$1,872$1,195$738$444$262$23
40 years$1,805$1,137$692$410$238$19
41 years$1,741$1,082$649$378$216$16
42 years$1,681$1,031$609$349$196$14
43 years$1,623$982$571$322$178$12
44 years$1,568$936$536$297$161$10
45 years$1,516$893$503$275$146$8
46 years$1,466$852$473$254$133$7
47 years$1,419$813$444$234$121$6
48 years$1,374$776$417$217$110$5
49 years$1,330$741$392$200$100$4
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 $6,002 every year, while hoping to spend $57,177 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: 61/20/19 Blend
59$1,320,000$1,320,000$1,320,000$1,320,000
60$1,460,831$1,390,871$1,370,411$1,542,420
61$1,549,000$1,398,188$1,355,484$1,605,547
62$1,644,246$1,403,947$1,338,140$1,667,526
63$1,747,230$1,408,011$1,318,239$1,733,853
64$1,858,679$1,410,236$1,295,632$1,804,959
65$1,979,394$1,410,467$1,270,165$1,881,318
66$2,110,251$1,408,539$1,241,675$1,963,455
67$2,252,219$1,404,279$1,209,993$2,051,948
68$2,406,359$1,397,502$1,174,941$2,147,440
69$2,573,840$1,388,012$1,136,334$2,250,639
70$2,755,948$1,375,601$1,093,978$2,362,327
71$2,954,098$1,360,049$1,047,669$2,483,370
72$3,169,846$1,341,121$997,196$2,614,723
73$3,404,904$1,318,571$942,337$2,757,442
74$3,661,159$1,292,135$882,859$2,912,693
75$3,940,683$1,261,536$818,521$3,081,767
76$4,245,761$1,226,479$749,070$3,266,085
77$4,578,905$1,186,653$674,240$3,467,221
78$4,942,882$1,141,728$593,756$3,686,911
79$5,340,739$1,091,355$507,329$3,927,073
80$5,775,827$1,035,165$414,658$4,189,825
81$6,251,840$972,766$315,428$4,477,504
82$6,772,843$903,747$209,310$4,792,694
83$7,343,313$827,671$95,962$5,138,245
84$7,968,179$744,075$0$5,517,304
85$8,652,871$652,472$0$5,938,413
86$9,403,368$552,347$0$6,421,430
87$10,226,254$443,155$0$6,951,191
88$11,128,782$324,320$0$7,532,450
89$12,118,941$195,235$0$8,170,451
90$13,205,530$55,258$0$8,870,971
91$14,398,240$0$0$9,640,385
92$15,707,747$0$0$10,506,908
93$17,145,812$0$0$11,471,961
94$18,725,390$0$0$12,532,090
95$20,460,752$0$0$13,696,887
96$22,367,620$0$0$14,976,919
97$24,463,314$0$0$16,383,827
98$26,766,917$0$0$17,930,436
99$29,299,449$0$0$19,630,876
100$32,084,073$0$0$21,500,715