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%15.6%
1 years$118,914$117,855$116,821$115,813$114,828$112,188
2 years$58,868$57,772$56,709$55,679$54,680$52,035
3 years$38,856$37,755$36,695$35,674$34,691$32,124
4 years$28,851$27,754$26,704$25,701$24,742$22,272
5 years$22,850$21,759$20,724$19,741$18,808$16,443
6 years$18,851$17,768$16,748$15,787$14,883$12,623
7 years$15,995$14,922$13,917$12,979$12,103$9,951
8 years$13,855$12,791$11,803$10,888$10,041$7,995
9 years$12,191$11,136$10,166$9,274$8,456$6,514
10 years$10,860$9,816$8,863$7,994$7,205$5,366
11 years$9,772$8,739$7,803$6,958$6,196$4,457
12 years$8,866$7,843$6,925$6,103$5,370$3,728
13 years$8,100$7,088$6,187$5,388$4,683$3,135
14 years$7,444$6,443$5,559$4,783$4,105$2,648
15 years$6,876$5,886$5,019$4,265$3,614$2,244
16 years$6,380$5,400$4,550$3,819$3,194$1,909
17 years$5,942$4,973$4,141$3,431$2,832$1,627
18 years$5,554$4,596$3,780$3,092$2,518$1,390
19 years$5,206$4,259$3,460$2,794$2,245$1,190
20 years$4,894$3,958$3,176$2,531$2,005$1,020
21 years$4,612$3,687$2,921$2,297$1,794$875
22 years$4,356$3,441$2,692$2,088$1,608$752
23 years$4,123$3,218$2,486$1,902$1,444$647
24 years$3,909$3,016$2,299$1,735$1,298$557
25 years$3,713$2,830$2,129$1,584$1,168$480
26 years$3,532$2,660$1,975$1,448$1,052$413
27 years$3,364$2,503$1,834$1,326$948$356
28 years$3,209$2,359$1,705$1,215$856$307
29 years$3,065$2,225$1,586$1,114$773$265
30 years$2,931$2,101$1,478$1,022$698$229
31 years$2,806$1,986$1,378$939$631$198
32 years$2,689$1,880$1,285$863$571$171
33 years$2,579$1,780$1,200$794$517$148
34 years$2,476$1,687$1,121$730$468$128
35 years$2,379$1,600$1,048$672$424$110
36 years$2,287$1,519$981$619$384$95
37 years$2,201$1,442$918$570$348$82
38 years$2,119$1,371$860$526$315$71
39 years$2,042$1,304$805$485$286$62
40 years$1,969$1,240$755$447$259$53
41 years$1,899$1,181$708$412$235$46
42 years$1,833$1,124$664$381$214$40
43 years$1,771$1,071$623$351$194$34
44 years$1,711$1,021$585$324$176$30
45 years$1,654$974$549$300$160$26
46 years$1,600$929$516$277$145$22
47 years$1,548$886$485$256$132$19
48 years$1,499$846$455$236$120$17
49 years$1,451$808$428$218$109$14
50 years$1,406$772$402$202$99$12

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 $4,412 every year, while hoping to spend $37,474 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: 56/16/28 Blend
59$1,440,000$1,440,000$1,440,000$1,440,000
60$1,591,431$1,515,111$1,492,791$1,668,046
61$1,713,885$1,549,479$1,502,927$1,755,618
62$1,847,573$1,584,276$1,512,147$1,846,722
63$1,993,602$1,619,482$1,520,381$1,945,227
64$2,153,190$1,655,077$1,527,554$2,051,861
65$2,327,677$1,691,037$1,533,588$2,167,425
66$2,518,539$1,727,338$1,538,404$2,292,802
67$2,727,404$1,763,950$1,541,913$2,428,966
68$2,956,059$1,800,844$1,544,028$2,576,990
69$3,206,477$1,837,985$1,544,652$2,738,059
70$3,480,828$1,875,337$1,543,688$2,913,476
71$3,781,502$1,912,858$1,541,032$3,104,680
72$4,111,132$1,950,505$1,536,573$3,313,258
73$4,472,618$1,988,231$1,530,199$3,540,956
74$4,869,154$2,025,982$1,521,789$3,789,704
75$5,304,256$2,063,704$1,511,218$4,061,627
76$5,781,800$2,101,335$1,498,353$4,359,066
77$6,306,053$2,138,810$1,483,058$4,684,605
78$6,881,718$2,176,059$1,465,187$5,041,093
79$7,513,972$2,213,005$1,444,590$5,431,669
80$8,208,521$2,249,566$1,421,108$5,859,793
81$8,971,650$2,285,655$1,394,575$6,329,283
82$9,810,283$2,321,176$1,364,817$6,844,344
83$10,732,047$2,356,030$1,331,654$7,409,615
84$11,745,347$2,390,106$1,294,895$8,030,209
85$12,859,439$2,423,288$1,254,342$8,711,763
86$14,084,526$2,455,453$1,209,786$9,460,490
87$15,431,844$2,486,467$1,161,010$10,283,240
88$16,913,776$2,516,187$1,107,788$11,187,566
89$18,543,962$2,544,462$1,049,880$12,181,791
90$20,337,435$2,571,129$987,040$13,275,092
91$22,310,755$2,596,016$919,007$14,477,586
92$24,482,169$2,618,937$845,511$15,800,425
93$26,871,782$2,639,697$766,267$17,255,900
94$29,501,747$2,658,086$680,980$18,857,562
95$32,396,473$2,673,880$589,341$20,620,348
96$35,582,856$2,686,843$491,027$22,560,722
97$39,090,532$2,696,723$385,701$24,696,834
98$42,952,155$2,703,251$273,010$27,048,689
99$47,203,706$2,706,141$152,588$29,638,338
100$51,884,834$2,705,092$24,049$32,490,086