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%18.8%
1 years$117,262$116,218$115,199$114,204$113,233$109,215
2 years$58,051$56,969$55,922$54,906$53,920$49,916
3 years$38,316$37,230$36,185$35,179$34,209$30,343
4 years$28,451$27,368$26,333$25,344$24,398$20,700
5 years$22,533$21,457$20,436$19,467$18,547$15,027
6 years$18,589$17,521$16,515$15,568$14,676$11,336
7 years$15,773$14,714$13,724$12,799$11,935$8,775
8 years$13,662$12,613$11,639$10,737$9,902$6,919
9 years$12,021$10,982$10,025$9,145$8,339$5,529
10 years$10,709$9,680$8,740$7,883$7,105$4,464
11 years$9,636$8,617$7,694$6,861$6,110$3,632
12 years$8,743$7,735$6,829$6,018$5,295$2,974
13 years$7,988$6,990$6,101$5,313$4,617$2,448
14 years$7,341$6,354$5,482$4,716$4,048$2,022
15 years$6,781$5,804$4,949$4,206$3,564$1,676
16 years$6,291$5,325$4,487$3,766$3,150$1,393
17 years$5,860$4,904$4,083$3,384$2,793$1,160
18 years$5,476$4,532$3,727$3,049$2,483$968
19 years$5,134$4,200$3,412$2,755$2,213$809
20 years$4,826$3,903$3,132$2,496$1,977$676
21 years$4,548$3,635$2,880$2,265$1,769$566
22 years$4,295$3,393$2,655$2,059$1,586$475
23 years$4,065$3,174$2,451$1,875$1,424$398
24 years$3,855$2,974$2,267$1,711$1,280$334
25 years$3,661$2,791$2,100$1,562$1,151$280
26 years$3,483$2,623$1,947$1,428$1,037$236
27 years$3,318$2,468$1,808$1,307$935$198
28 years$3,165$2,326$1,681$1,198$844$166
29 years$3,023$2,194$1,564$1,098$762$140
30 years$2,891$2,072$1,457$1,008$688$118
31 years$2,767$1,959$1,358$926$622$99
32 years$2,651$1,854$1,267$851$563$83
33 years$2,543$1,755$1,183$782$509$70
34 years$2,441$1,664$1,106$720$461$59
35 years$2,346$1,578$1,034$663$418$50
36 years$2,255$1,498$967$610$379$42
37 years$2,170$1,422$905$562$343$35
38 years$2,090$1,352$848$518$311$30
39 years$2,014$1,285$794$478$282$25
40 years$1,941$1,223$744$441$256$21
41 years$1,873$1,164$698$407$232$18
42 years$1,808$1,109$655$375$211$15
43 years$1,746$1,056$614$347$191$12
44 years$1,687$1,007$577$320$173$10
45 years$1,631$960$541$295$158$9
46 years$1,578$916$509$273$143$7
47 years$1,527$874$478$252$130$6
48 years$1,478$835$449$233$118$5
49 years$1,431$797$422$215$107$4
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 $5,353 every year, while hoping to spend $42,094 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: 64/25/11 Blend
59$1,420,000$1,420,000$1,420,000$1,420,000
60$1,570,362$1,495,102$1,473,092$1,666,655
61$1,685,751$1,523,574$1,477,652$1,760,108
62$1,811,499$1,552,031$1,480,955$1,856,748
63$1,948,618$1,580,426$1,482,914$1,961,243
64$2,098,222$1,608,712$1,483,436$2,074,356
65$2,261,538$1,636,836$1,482,428$2,196,925
66$2,439,914$1,664,741$1,479,789$2,329,878
67$2,634,838$1,692,365$1,475,414$2,474,235
68$2,847,944$1,719,644$1,469,194$2,631,119
69$3,081,034$1,746,506$1,461,011$2,801,770
70$3,336,091$1,772,877$1,450,747$2,987,552
71$3,615,299$1,798,675$1,438,274$3,189,971
72$3,921,063$1,823,813$1,423,459$3,410,684
73$4,256,030$1,848,198$1,406,163$3,651,520
74$4,623,116$1,871,731$1,386,242$3,914,492
75$5,025,534$1,894,306$1,363,541$4,201,820
76$5,466,821$1,915,810$1,337,902$4,515,952
77$5,950,873$1,936,120$1,309,157$4,859,585
78$6,481,980$1,955,109$1,277,133$5,235,692
79$7,064,871$1,972,637$1,241,645$5,647,549
80$7,704,750$1,988,559$1,202,503$6,098,770
81$8,407,354$2,002,718$1,159,506$6,593,334
82$9,179,001$2,014,947$1,112,446$7,135,631
83$10,026,649$2,025,070$1,061,103$7,730,497
84$10,957,966$2,032,897$1,005,249$8,383,266
85$11,981,398$2,038,229$944,644$9,099,815
86$13,106,251$2,040,852$879,040$9,886,622
87$14,342,775$2,040,541$808,175$10,750,829
88$15,702,265$2,037,054$731,775$11,700,307
89$17,197,164$2,030,137$649,557$12,743,732
90$18,841,180$2,019,519$561,223$13,890,670
91$20,649,417$2,004,913$466,461$15,151,662
92$22,638,518$1,986,014$364,947$16,538,329
93$24,826,817$1,962,499$256,343$18,063,478
94$27,234,517$1,934,025$140,295$19,741,230
95$29,883,875$1,900,230$16,433$21,587,144
96$32,799,419$1,860,730$0$23,618,375
97$36,008,171$1,815,117$0$25,867,415
98$39,539,906$1,762,960$0$28,344,460
99$43,427,434$1,703,802$0$31,070,597
100$47,706,906$1,637,162$0$34,071,197