Can I retire at age 60 with 1,460,000?

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 $1,460,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$120,565$119,492$118,444$117,421$116,422$115,447
2 years$59,686$58,574$57,497$56,452$55,439$54,456
3 years$39,395$38,279$37,204$36,170$35,173$34,213
4 years$29,252$28,139$27,075$26,058$25,086$24,155
5 years$23,168$22,061$21,011$20,015$19,070$18,172
6 years$19,113$18,015$16,980$16,006$15,089$14,226
7 years$16,217$15,129$14,111$13,160$12,272$11,443
8 years$14,047$12,968$11,967$11,039$10,180$9,386
9 years$12,360$11,291$10,307$9,403$8,573$7,813
10 years$11,011$9,953$8,986$8,106$7,305$6,579
11 years$9,908$8,860$7,911$7,054$6,283$5,589
12 years$8,989$7,952$7,021$6,188$5,444$4,784
13 years$8,213$7,187$6,273$5,463$4,748$4,119
14 years$7,548$6,532$5,636$4,849$4,162$3,564
15 years$6,972$5,968$5,089$4,325$3,664$3,097
16 years$6,468$5,475$4,614$3,872$3,238$2,700
17 years$6,025$5,042$4,198$3,479$2,871$2,362
18 years$5,631$4,659$3,832$3,135$2,553$2,071
19 years$5,279$4,318$3,508$2,833$2,276$1,820
20 years$4,962$4,013$3,220$2,566$2,033$1,602
21 years$4,676$3,738$2,962$2,329$1,819$1,413
22 years$4,416$3,489$2,730$2,117$1,631$1,248
23 years$4,180$3,263$2,520$1,928$1,464$1,104
24 years$3,963$3,057$2,331$1,759$1,316$977
25 years$3,764$2,869$2,159$1,606$1,184$866
26 years$3,581$2,697$2,002$1,469$1,066$768
27 years$3,411$2,538$1,859$1,344$961$682
28 years$3,254$2,391$1,728$1,232$867$605
29 years$3,108$2,256$1,608$1,129$783$538
30 years$2,972$2,131$1,498$1,037$708$478
31 years$2,845$2,014$1,397$952$640$426
32 years$2,726$1,906$1,303$875$579$379
33 years$2,615$1,805$1,217$805$524$337
34 years$2,510$1,710$1,137$740$474$300
35 years$2,412$1,622$1,063$681$430$267
36 years$2,319$1,540$994$628$389$238
37 years$2,231$1,463$931$578$353$212
38 years$2,149$1,390$872$533$320$189
39 years$2,070$1,322$817$491$290$169
40 years$1,996$1,257$765$453$263$150
41 years$1,926$1,197$718$418$239$134
42 years$1,859$1,140$673$386$217$120
43 years$1,795$1,086$632$356$197$107
44 years$1,735$1,035$593$329$178$95
45 years$1,677$987$557$304$162$85
46 years$1,622$942$523$281$147$76
47 years$1,570$899$491$259$134$68
48 years$1,519$858$462$240$121$60
49 years$1,471$819$434$221$110$54
50 years$1,425$783$408$205$100$48

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,460,000, adding $2,247 every year, while hoping to spend $38,110 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: 65/29/6 Blend
59$1,460,000$1,460,000$1,460,000$1,460,000
60$1,611,238$1,533,858$1,511,228$1,714,264
61$1,735,035$1,568,468$1,521,305$1,817,632
62$1,870,183$1,603,497$1,530,443$1,925,766
63$2,017,798$1,638,925$1,538,569$2,042,893
64$2,179,111$1,674,730$1,545,609$2,169,882
65$2,355,476$1,710,887$1,551,482$2,307,692
66$2,548,384$1,747,370$1,556,106$2,457,376
67$2,759,477$1,784,149$1,559,394$2,620,098
68$2,990,563$1,821,192$1,561,253$2,797,136
69$3,243,633$1,858,463$1,561,588$2,989,900
70$3,520,879$1,895,923$1,560,297$3,199,942
71$3,824,716$1,933,531$1,557,274$3,428,973
72$4,157,803$1,971,239$1,552,408$3,678,876
73$4,523,067$2,008,998$1,545,582$3,951,727
74$4,923,736$2,046,755$1,536,675$4,249,812
75$5,363,361$2,084,450$1,525,557$4,575,651
76$5,845,856$2,122,020$1,512,095$4,932,019
77$6,375,531$2,159,397$1,496,149$5,321,975
78$6,957,136$2,196,508$1,477,570$5,748,889
79$7,595,900$2,233,273$1,456,205$6,216,474
80$8,297,586$2,269,608$1,431,892$6,728,822
81$9,068,541$2,305,420$1,404,462$7,290,441
82$9,915,759$2,340,612$1,373,738$7,906,299
83$10,846,943$2,375,079$1,339,535$8,581,873
84$11,870,581$2,408,708$1,301,659$9,323,195
85$12,996,023$2,441,377$1,259,908$10,136,913
86$14,233,572$2,472,959$1,214,069$11,030,356
87$15,594,577$2,503,315$1,163,921$12,011,598
88$17,091,544$2,532,297$1,109,233$13,089,537
89$18,738,251$2,559,749$1,049,761$14,273,980
90$20,549,877$2,585,502$985,253$15,575,733
91$22,543,150$2,609,377$915,445$17,006,708
92$24,736,498$2,631,184$840,059$18,580,030
93$27,150,227$2,650,718$758,807$20,310,164
94$29,806,711$2,667,763$671,388$22,213,052
95$32,730,601$2,682,089$577,485$24,306,263
96$35,949,062$2,693,451$476,770$26,609,160
97$39,492,024$2,701,588$368,899$29,143,082
98$43,392,467$2,706,222$253,514$31,931,545
99$47,686,731$2,707,059$130,239$35,000,469
100$52,414,859$2,703,787$0$38,378,417