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%19.2%
1 years$109,004$108,033$107,086$106,161$105,259$101,363
2 years$53,963$52,958$51,984$51,039$50,123$46,242
3 years$35,618$34,608$33,637$32,701$31,800$28,056
4 years$26,447$25,441$24,479$23,559$22,680$19,102
5 years$20,946$19,946$18,997$18,096$17,241$13,837
6 years$17,280$16,287$15,352$14,471$13,642$10,416
7 years$14,662$13,678$12,758$11,898$11,095$8,044
8 years$12,700$11,725$10,820$9,981$9,204$6,327
9 years$11,175$10,208$9,319$8,501$7,751$5,044
10 years$9,955$8,998$8,124$7,328$6,604$4,062
11 years$8,958$8,011$7,153$6,378$5,680$3,297
12 years$8,127$7,190$6,348$5,594$4,922$2,692
13 years$7,425$6,498$5,671$4,939$4,292$2,209
14 years$6,824$5,906$5,096$4,384$3,763$1,820
15 years$6,303$5,395$4,601$3,910$3,313$1,504
16 years$5,848$4,950$4,171$3,501$2,928$1,247
17 years$5,447$4,559$3,796$3,146$2,596$1,035
18 years$5,091$4,213$3,465$2,835$2,308$861
19 years$4,772$3,904$3,172$2,561$2,057$717
20 years$4,486$3,628$2,911$2,320$1,838$598
21 years$4,228$3,379$2,678$2,105$1,645$499
22 years$3,993$3,154$2,468$1,914$1,474$417
23 years$3,779$2,950$2,279$1,743$1,323$349
24 years$3,583$2,764$2,107$1,590$1,189$292
25 years$3,403$2,594$1,952$1,452$1,070$244
26 years$3,237$2,438$1,810$1,328$964$204
27 years$3,084$2,294$1,681$1,215$869$171
28 years$2,942$2,162$1,563$1,114$784$143
29 years$2,810$2,040$1,454$1,021$708$120
30 years$2,687$1,926$1,355$937$640$101
31 years$2,572$1,821$1,263$861$579$84
32 years$2,465$1,723$1,178$791$523$71
33 years$2,364$1,632$1,100$727$474$59
34 years$2,269$1,546$1,028$669$429$50
35 years$2,180$1,467$961$616$388$42
36 years$2,096$1,392$899$567$352$35
37 years$2,017$1,322$841$523$319$29
38 years$1,943$1,257$788$482$289$25
39 years$1,872$1,195$738$444$262$21
40 years$1,805$1,137$692$410$238$17
41 years$1,741$1,082$649$378$216$15
42 years$1,681$1,031$609$349$196$12
43 years$1,623$982$571$322$178$10
44 years$1,568$936$536$297$161$9
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$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 $6,083 every year, while hoping to spend $41,434 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: 45/36/19 Blend
59$1,320,000$1,320,000$1,320,000$1,320,000
60$1,460,915$1,390,955$1,370,495$1,518,426
61$1,565,842$1,415,026$1,372,321$1,583,429
62$1,680,084$1,438,888$1,372,819$1,649,288
63$1,804,546$1,462,487$1,371,902$1,719,841
64$1,940,226$1,485,765$1,369,477$1,795,542
65$2,088,221$1,508,659$1,365,446$1,876,893
66$2,249,739$1,531,103$1,359,708$1,964,449
67$2,426,110$1,553,025$1,352,156$2,058,821
68$2,618,799$1,574,348$1,342,679$2,160,683
69$2,829,416$1,594,991$1,331,159$2,270,783
70$3,059,737$1,614,866$1,317,472$2,389,941
71$3,311,714$1,633,879$1,301,492$2,519,067
72$3,587,500$1,651,930$1,283,083$2,659,163
73$3,889,462$1,668,912$1,262,104$2,811,336
74$4,220,210$1,684,711$1,238,407$2,976,808
75$4,582,615$1,699,206$1,211,837$3,156,927
76$4,979,843$1,712,268$1,182,235$3,353,182
77$5,415,376$1,723,758$1,149,429$3,567,214
78$5,893,053$1,733,531$1,113,243$3,800,838
79$6,417,099$1,741,429$1,073,492$4,056,055
80$6,992,172$1,747,288$1,029,983$4,335,072
81$7,623,399$1,750,930$982,512$4,640,326
82$8,316,429$1,752,169$930,870$4,974,507
83$9,077,484$1,750,804$874,833$5,340,582
84$9,913,420$1,746,626$814,172$5,741,825
85$10,831,786$1,739,409$748,645$6,181,848
86$11,840,903$1,728,915$677,999$6,664,638
87$12,949,935$1,714,891$601,972$7,194,593
88$14,168,978$1,697,070$520,287$7,776,564
89$15,509,154$1,675,167$432,658$8,415,903
90$16,982,719$1,648,882$338,783$9,118,515
91$18,603,175$1,617,895$238,350$9,890,914
92$20,385,395$1,581,868$131,032$10,740,285
93$22,345,770$1,540,445$16,486$11,674,552
94$24,502,357$1,493,245$0$12,702,459
95$26,875,051$1,439,867$0$13,855,086
96$29,485,774$1,379,888$0$15,126,589
97$32,358,679$1,312,859$0$16,525,430
98$35,520,379$1,238,303$0$18,064,625
99$39,000,197$1,155,720$0$19,758,527
100$42,830,444$1,064,577$0$21,622,957