Can I retire at age 60 with 1,440,000?

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 $1,440,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$118,914$117,855$116,821$115,813$114,828$112,694
2 years$58,868$57,772$56,709$55,679$54,680$52,538
3 years$38,856$37,755$36,695$35,674$34,691$32,608
4 years$28,851$27,754$26,704$25,701$24,742$22,734
5 years$22,850$21,759$20,724$19,741$18,808$16,881
6 years$18,851$17,768$16,748$15,787$14,883$13,037
7 years$15,995$14,922$13,917$12,979$12,103$10,341
8 years$13,855$12,791$11,803$10,888$10,041$8,362
9 years$12,191$11,136$10,166$9,274$8,456$6,858
10 years$10,860$9,816$8,863$7,994$7,205$5,688
11 years$9,772$8,739$7,803$6,958$6,196$4,758
12 years$8,866$7,843$6,925$6,103$5,370$4,007
13 years$8,100$7,088$6,187$5,388$4,683$3,394
14 years$7,444$6,443$5,559$4,783$4,105$2,889
15 years$6,876$5,886$5,019$4,265$3,614$2,468
16 years$6,380$5,400$4,550$3,819$3,194$2,115
17 years$5,942$4,973$4,141$3,431$2,832$1,817
18 years$5,554$4,596$3,780$3,092$2,518$1,565
19 years$5,206$4,259$3,460$2,794$2,245$1,350
20 years$4,894$3,958$3,176$2,531$2,005$1,167
21 years$4,612$3,687$2,921$2,297$1,794$1,010
22 years$4,356$3,441$2,692$2,088$1,608$875
23 years$4,123$3,218$2,486$1,902$1,444$759
24 years$3,909$3,016$2,299$1,735$1,298$659
25 years$3,713$2,830$2,129$1,584$1,168$573
26 years$3,532$2,660$1,975$1,448$1,052$498
27 years$3,364$2,503$1,834$1,326$948$433
28 years$3,209$2,359$1,705$1,215$856$377
29 years$3,065$2,225$1,586$1,114$773$329
30 years$2,931$2,101$1,478$1,022$698$286
31 years$2,806$1,986$1,378$939$631$249
32 years$2,689$1,880$1,285$863$571$217
33 years$2,579$1,780$1,200$794$517$190
34 years$2,476$1,687$1,121$730$468$165
35 years$2,379$1,600$1,048$672$424$144
36 years$2,287$1,519$981$619$384$126
37 years$2,201$1,442$918$570$348$110
38 years$2,119$1,371$860$526$315$96
39 years$2,042$1,304$805$485$286$84
40 years$1,969$1,240$755$447$259$73
41 years$1,899$1,181$708$412$235$64
42 years$1,833$1,124$664$381$214$56
43 years$1,771$1,071$623$351$194$49
44 years$1,711$1,021$585$324$176$42
45 years$1,654$974$549$300$160$37
46 years$1,600$929$516$277$145$32
47 years$1,548$886$485$256$132$28
48 years$1,499$846$455$236$120$25
49 years$1,451$808$428$218$109$21
50 years$1,406$772$402$202$99$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,440,000, adding $6,424 every year, while hoping to spend $52,906 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: 58/33/9 Blend
59$1,440,000$1,440,000$1,440,000$1,440,000
60$1,593,506$1,517,186$1,494,866$1,682,236
61$1,699,752$1,535,237$1,488,653$1,760,744
62$1,815,062$1,552,399$1,480,458$1,839,763
63$1,940,305$1,568,573$1,470,159$1,924,597
64$2,076,436$1,583,652$1,457,629$2,015,809
65$2,224,506$1,597,525$1,442,733$2,114,019
66$2,385,671$1,610,069$1,425,331$2,219,910
67$2,561,205$1,621,158$1,405,275$2,334,240
68$2,752,508$1,630,655$1,382,411$2,457,841
69$2,961,120$1,638,413$1,356,579$2,591,633
70$3,188,738$1,644,279$1,327,608$2,736,632
71$3,437,229$1,648,089$1,295,323$2,893,957
72$3,708,649$1,649,667$1,259,538$3,064,844
73$4,005,259$1,648,829$1,220,060$3,250,659
74$4,329,550$1,645,376$1,176,688$3,452,905
75$4,684,266$1,639,101$1,129,208$3,673,244
76$5,072,425$1,629,781$1,077,401$3,913,509
77$5,497,353$1,617,181$1,021,034$4,175,723
78$5,962,711$1,601,051$959,867$4,462,116
79$6,472,531$1,581,127$893,646$4,775,151
80$7,031,254$1,557,127$822,109$5,117,546
81$7,643,771$1,528,755$744,978$5,492,296
82$8,315,467$1,495,695$661,966$5,902,710
83$9,052,275$1,457,615$572,772$6,352,436
84$9,860,730$1,414,160$477,082$6,845,500
85$10,748,028$1,364,958$374,568$7,386,341
86$11,722,097$1,309,611$264,887$7,979,859
87$12,791,672$1,247,703$147,682$8,631,457
88$13,966,372$1,178,790$22,579$9,347,097
89$15,256,795$1,102,403$0$10,133,355
90$16,674,615$1,018,048$0$11,008,135
91$18,232,694$925,201$0$11,971,792
92$19,945,201$823,308$0$13,031,019
93$21,827,746$711,785$0$14,195,593
94$23,897,527$590,013$0$15,476,290
95$26,173,491$457,340$0$16,884,996
96$28,676,514$313,076$0$18,434,813
97$31,429,595$156,493$0$20,140,191
98$34,458,074$0$0$22,017,059
99$37,789,872$0$0$24,087,768
100$41,455,751$0$0$26,428,772