Can I retire at age 60 with 1,470,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,470,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$121,391$120,310$119,255$118,225$117,220$116,530
2 years$60,095$58,975$57,891$56,839$55,819$55,123
3 years$39,665$38,541$37,459$36,417$35,414$34,733
4 years$29,452$28,332$27,261$26,237$25,257$24,598
5 years$23,326$22,212$21,155$20,152$19,200$18,563
6 years$19,244$18,138$17,097$16,116$15,193$14,579
7 years$16,329$15,232$14,207$13,250$12,356$11,765
8 years$14,143$13,057$12,049$11,115$10,250$9,684
9 years$12,444$11,368$10,378$9,467$8,632$8,089
10 years$11,086$10,021$9,048$8,161$7,355$6,836
11 years$9,976$8,921$7,965$7,103$6,326$5,829
12 years$9,051$8,007$7,069$6,230$5,482$5,008
13 years$8,269$7,236$6,316$5,500$4,780$4,328
14 years$7,599$6,577$5,675$4,882$4,190$3,760
15 years$7,020$6,008$5,124$4,354$3,689$3,280
16 years$6,513$5,513$4,645$3,899$3,261$2,872
17 years$6,066$5,077$4,227$3,503$2,891$2,522
18 years$5,669$4,691$3,859$3,157$2,571$2,221
19 years$5,315$4,348$3,532$2,852$2,291$1,960
20 years$4,996$4,040$3,242$2,583$2,047$1,733
21 years$4,708$3,763$2,982$2,345$1,831$1,536
22 years$4,447$3,513$2,748$2,132$1,642$1,362
23 years$4,208$3,286$2,538$1,942$1,474$1,210
24 years$3,990$3,078$2,347$1,771$1,325$1,076
25 years$3,790$2,889$2,174$1,617$1,192$958
26 years$3,605$2,715$2,016$1,479$1,074$854
27 years$3,435$2,555$1,872$1,353$968$761
28 years$3,276$2,408$1,740$1,240$873$680
29 years$3,129$2,271$1,619$1,137$789$607
30 years$2,992$2,145$1,508$1,044$713$542
31 years$2,864$2,028$1,406$958$644$485
32 years$2,745$1,919$1,312$881$583$433
33 years$2,633$1,817$1,225$810$527$388
34 years$2,527$1,722$1,145$745$478$347
35 years$2,428$1,633$1,070$686$433$311
36 years$2,335$1,550$1,001$632$392$278
37 years$2,247$1,473$937$582$355$249
38 years$2,163$1,399$877$537$322$223
39 years$2,084$1,331$822$495$292$200
40 years$2,010$1,266$771$456$265$179
41 years$1,939$1,205$723$421$240$161
42 years$1,872$1,148$678$389$218$144
43 years$1,808$1,094$636$359$198$129
44 years$1,747$1,042$597$331$180$116
45 years$1,689$994$561$306$163$104
46 years$1,633$948$526$283$148$93
47 years$1,580$905$495$261$134$84
48 years$1,530$864$465$241$122$75
49 years$1,481$825$437$223$111$67
50 years$1,435$788$411$206$101$60

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,470,000, adding $6,462 every year, while hoping to spend $49,058 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: 48/29/23 Blend
59$1,470,000$1,470,000$1,470,000$1,470,000
60$1,626,606$1,548,696$1,525,911$1,693,782
61$1,740,322$1,572,384$1,524,831$1,765,055
62$1,863,993$1,595,590$1,522,072$1,836,992
63$1,998,583$1,618,236$1,517,523$1,914,113
64$2,145,152$1,640,242$1,511,073$1,996,927
65$2,304,865$1,661,523$1,502,603$2,085,998
66$2,479,009$1,681,985$1,491,987$2,181,946
67$2,668,995$1,701,529$1,479,096$2,285,458
68$2,876,379$1,720,050$1,463,792$2,397,293
69$3,102,873$1,737,437$1,445,933$2,518,288
70$3,350,363$1,753,567$1,425,368$2,649,368
71$3,620,923$1,768,315$1,401,941$2,791,555
72$3,916,837$1,781,543$1,375,486$2,945,977
73$4,240,623$1,793,107$1,345,833$3,113,880
74$4,595,049$1,802,852$1,312,801$3,296,639
75$4,983,166$1,810,613$1,276,202$3,495,772
76$5,408,332$1,816,217$1,235,838$3,712,958
77$5,874,247$1,819,477$1,191,504$3,950,048
78$6,384,985$1,820,196$1,142,984$4,209,085
79$6,945,033$1,818,165$1,090,053$4,492,325
80$7,559,332$1,813,160$1,032,476$4,802,259
81$8,233,326$1,804,947$970,005$5,141,637
82$8,973,009$1,793,274$902,385$5,513,492
83$9,784,987$1,777,875$829,345$5,921,173
84$10,676,533$1,758,468$750,606$6,368,375
85$11,655,661$1,734,755$665,874$6,859,178
86$12,731,200$1,706,419$574,842$7,398,081
87$13,912,873$1,673,125$477,190$7,990,051
88$15,211,395$1,634,516$372,584$8,640,567
89$16,638,567$1,590,217$260,675$9,355,676
90$18,207,392$1,539,829$141,099$10,142,047
91$19,932,195$1,482,930$13,475$11,007,040
92$21,828,760$1,419,074$0$11,958,772
93$23,914,473$1,347,789$0$13,036,318
94$26,208,494$1,268,575$0$14,224,925
95$28,731,929$1,180,904$0$15,532,288
96$31,508,035$1,084,218$0$16,970,536
97$34,562,435$977,925$0$18,553,045
98$37,923,363$861,403$0$20,294,556
99$41,621,925$733,990$0$22,211,323
100$45,692,398$594,992$0$24,321,264