Can I retire at age 60 with 1,480,000?

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 $1,480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$122,217$121,128$120,066$119,030$118,017$114,377
2 years$60,503$59,377$58,285$57,226$56,199$52,563
3 years$39,935$38,803$37,714$36,665$35,655$32,138
4 years$29,653$28,525$27,446$26,415$25,429$22,058
5 years$23,485$22,364$21,299$20,289$19,331$16,114
6 years$19,375$18,262$17,213$16,226$15,296$12,236
7 years$16,440$15,336$14,304$13,340$12,440$9,537
8 years$14,239$13,146$12,131$11,191$10,320$7,573
9 years$12,529$11,446$10,448$9,532$8,691$6,096
10 years$11,162$10,089$9,109$8,217$7,405$4,959
11 years$10,044$8,982$8,020$7,151$6,369$4,067
12 years$9,112$8,061$7,117$6,272$5,519$3,357
13 years$8,325$7,285$6,359$5,537$4,813$2,785
14 years$7,651$6,622$5,713$4,916$4,219$2,320
15 years$7,067$6,049$5,158$4,384$3,714$1,939
16 years$6,557$5,550$4,677$3,925$3,283$1,626
17 years$6,107$5,111$4,256$3,527$2,911$1,366
18 years$5,708$4,723$3,885$3,178$2,588$1,150
19 years$5,351$4,377$3,556$2,872$2,307$969
20 years$5,030$4,068$3,264$2,601$2,061$818
21 years$4,740$3,789$3,002$2,361$1,844$692
22 years$4,477$3,537$2,767$2,146$1,653$585
23 years$4,237$3,308$2,555$1,955$1,484$495
24 years$4,017$3,099$2,363$1,783$1,334$420
25 years$3,816$2,909$2,188$1,628$1,200$356
26 years$3,630$2,734$2,030$1,489$1,081$302
27 years$3,458$2,573$1,885$1,363$975$256
28 years$3,299$2,424$1,752$1,248$879$217
29 years$3,151$2,287$1,630$1,145$794$185
30 years$3,013$2,160$1,519$1,051$717$157
31 years$2,884$2,042$1,416$965$649$133
32 years$2,763$1,932$1,321$887$587$113
33 years$2,650$1,829$1,233$816$531$96
34 years$2,544$1,734$1,152$750$481$82
35 years$2,445$1,645$1,077$691$435$69
36 years$2,351$1,561$1,008$636$395$59
37 years$2,262$1,483$943$586$358$50
38 years$2,178$1,409$883$540$324$43
39 years$2,099$1,340$828$498$294$36
40 years$2,023$1,275$776$459$267$31
41 years$1,952$1,213$727$424$242$26
42 years$1,884$1,156$682$391$220$22
43 years$1,820$1,101$640$361$199$19
44 years$1,758$1,050$601$333$181$16
45 years$1,700$1,001$564$308$164$14
46 years$1,644$955$530$284$149$12
47 years$1,591$911$498$263$135$10
48 years$1,540$870$468$243$123$8
49 years$1,492$831$440$224$112$7
50 years$1,445$793$414$207$101$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,480,000, adding $5,411 every year, while hoping to spend $28,077 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: 38/48/14 Blend
59$1,480,000$1,480,000$1,480,000$1,480,000
60$1,636,541$1,558,101$1,535,161$1,691,602
61$1,773,595$1,604,575$1,556,716$1,777,888
62$1,923,687$1,652,384$1,578,051$1,867,963
63$2,088,118$1,701,566$1,599,130$1,964,699
64$2,268,319$1,752,156$1,619,914$2,068,708
65$2,465,868$1,804,192$1,640,362$2,180,662
66$2,682,502$1,857,713$1,660,430$2,301,304
67$2,920,133$1,912,757$1,680,070$2,431,446
68$3,180,870$1,969,365$1,699,236$2,571,984
69$3,467,032$2,027,577$1,717,874$2,723,904
70$3,781,178$2,087,436$1,735,930$2,888,288
71$4,126,121$2,148,985$1,753,348$3,066,331
72$4,504,966$2,212,265$1,770,065$3,259,344
73$4,921,130$2,277,323$1,786,019$3,468,772
74$5,378,376$2,344,204$1,801,143$3,696,204
75$5,880,854$2,412,953$1,815,364$3,943,390
76$6,433,132$2,483,618$1,828,609$4,212,257
77$7,040,244$2,556,248$1,840,800$4,504,926
78$7,707,735$2,630,890$1,851,853$4,823,731
79$8,441,716$2,707,596$1,861,683$5,171,245
80$9,248,919$2,786,416$1,870,197$5,550,299
81$10,136,760$2,867,402$1,877,300$5,964,010
82$11,113,411$2,950,606$1,882,891$6,415,814
83$12,187,875$3,036,082$1,886,864$6,909,491
84$13,370,073$3,123,885$1,889,109$7,449,209
85$14,670,935$3,214,070$1,889,509$8,039,554
86$16,102,504$3,306,693$1,887,941$8,685,581
87$17,678,050$3,401,811$1,884,277$9,392,857
88$19,412,194$3,499,483$1,878,383$10,167,515
89$21,321,046$3,599,766$1,870,117$11,016,310
90$23,422,359$3,702,720$1,859,332$11,946,685
91$25,735,693$3,808,407$1,845,873$12,966,840
92$28,282,600$3,916,885$1,829,576$14,085,806
93$31,086,831$4,028,218$1,810,273$15,313,536
94$34,174,555$4,142,468$1,787,784$16,660,994
95$37,574,607$4,259,697$1,761,923$18,140,261
96$41,318,764$4,379,969$1,732,494$19,764,646
97$45,442,039$4,503,349$1,699,294$21,548,816
98$49,983,014$4,629,900$1,662,107$23,508,927
99$54,984,203$4,759,687$1,620,709$25,662,784
100$60,492,456$4,892,776$1,574,867$28,030,005