Can I retire at age 60 with 1,420,000?

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 $1,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$117,262$116,218$115,199$114,204$113,233$109,346
2 years$58,051$56,969$55,922$54,906$53,920$50,044
3 years$38,316$37,230$36,185$35,179$34,209$30,465
4 years$28,451$27,368$26,333$25,344$24,398$20,815
5 years$22,533$21,457$20,436$19,467$18,547$15,134
6 years$18,589$17,521$16,515$15,568$14,676$11,436
7 years$15,773$14,714$13,724$12,799$11,935$8,868
8 years$13,662$12,613$11,639$10,737$9,902$7,004
9 years$12,021$10,982$10,025$9,145$8,339$5,607
10 years$10,709$9,680$8,740$7,883$7,105$4,536
11 years$9,636$8,617$7,694$6,861$6,110$3,698
12 years$8,743$7,735$6,829$6,018$5,295$3,034
13 years$7,988$6,990$6,101$5,313$4,617$2,502
14 years$7,341$6,354$5,482$4,716$4,048$2,071
15 years$6,781$5,804$4,949$4,206$3,564$1,720
16 years$6,291$5,325$4,487$3,766$3,150$1,433
17 years$5,860$4,904$4,083$3,384$2,793$1,196
18 years$5,476$4,532$3,727$3,049$2,483$1,000
19 years$5,134$4,200$3,412$2,755$2,213$837
20 years$4,826$3,903$3,132$2,496$1,977$702
21 years$4,548$3,635$2,880$2,265$1,769$589
22 years$4,295$3,393$2,655$2,059$1,586$495
23 years$4,065$3,174$2,451$1,875$1,424$416
24 years$3,855$2,974$2,267$1,711$1,280$350
25 years$3,661$2,791$2,100$1,562$1,151$295
26 years$3,483$2,623$1,947$1,428$1,037$248
27 years$3,318$2,468$1,808$1,307$935$209
28 years$3,165$2,326$1,681$1,198$844$176
29 years$3,023$2,194$1,564$1,098$762$148
30 years$2,891$2,072$1,457$1,008$688$125
31 years$2,767$1,959$1,358$926$622$105
32 years$2,651$1,854$1,267$851$563$89
33 years$2,543$1,755$1,183$782$509$75
34 years$2,441$1,664$1,106$720$461$63
35 years$2,346$1,578$1,034$663$418$53
36 years$2,255$1,498$967$610$379$45
37 years$2,170$1,422$905$562$343$38
38 years$2,090$1,352$848$518$311$32
39 years$2,014$1,285$794$478$282$27
40 years$1,941$1,223$744$441$256$23
41 years$1,873$1,164$698$407$232$19
42 years$1,808$1,109$655$375$211$16
43 years$1,746$1,056$614$347$191$14
44 years$1,687$1,007$577$320$173$12
45 years$1,631$960$541$295$158$10
46 years$1,578$916$509$273$143$8
47 years$1,527$874$478$252$130$7
48 years$1,478$835$449$233$118$6
49 years$1,431$797$422$215$107$5
50 years$1,386$761$397$199$97$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,420,000, adding $6,441 every year, while hoping to spend $44,447 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: 47/25/28 Blend
59$1,420,000$1,420,000$1,420,000$1,420,000
60$1,571,484$1,496,224$1,474,214$1,632,465
61$1,684,484$1,522,248$1,476,309$1,702,175
62$1,807,520$1,548,057$1,476,984$1,772,968
63$1,941,570$1,573,594$1,476,146$1,848,959
64$2,087,708$1,598,798$1,473,694$1,930,660
65$2,247,116$1,623,601$1,469,525$2,018,637
66$2,421,098$1,647,934$1,463,530$2,113,513
67$2,611,087$1,671,719$1,455,595$2,215,978
68$2,818,660$1,694,876$1,445,600$2,326,793
69$3,045,554$1,717,316$1,433,419$2,446,800
70$3,293,683$1,738,946$1,418,921$2,576,926
71$3,565,152$1,759,668$1,401,967$2,718,195
72$3,862,279$1,779,373$1,382,415$2,871,740
73$4,187,617$1,797,948$1,360,112$3,038,809
74$4,543,979$1,815,273$1,334,900$3,220,781
75$4,934,460$1,831,216$1,306,615$3,419,178
76$5,362,471$1,845,642$1,275,082$3,635,680
77$5,831,767$1,858,402$1,240,121$3,872,141
78$6,346,484$1,869,340$1,201,542$4,130,609
79$6,911,178$1,878,291$1,159,147$4,413,341
80$7,530,868$1,885,077$1,112,728$4,722,831
81$8,211,081$1,889,510$1,062,068$5,061,830
82$8,957,905$1,891,390$1,006,942$5,433,374
83$9,778,049$1,890,505$947,111$5,840,812
84$10,678,899$1,886,630$882,329$6,287,840
85$11,668,597$1,879,524$812,337$6,778,538
86$12,756,107$1,868,935$736,864$7,317,404
87$13,951,310$1,854,592$655,629$7,909,403
88$15,265,086$1,836,210$568,335$8,560,010
89$16,709,426$1,813,485$474,675$9,275,269
90$18,297,539$1,786,097$374,328$10,061,842
91$20,043,977$1,753,705$266,957$10,927,081
92$21,964,775$1,715,949$152,213$11,879,095
93$24,077,598$1,672,446$29,728$12,926,829
94$26,401,910$1,622,793$0$14,080,146
95$28,959,156$1,566,562$0$15,380,097
96$31,772,965$1,503,299$0$16,819,951
97$34,869,373$1,432,525$0$18,404,174
98$38,277,064$1,353,734$0$20,147,491
99$42,027,646$1,266,389$0$22,066,130
100$46,155,947$1,169,923$0$24,177,980