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%18.9%
1 years$122,217$121,128$120,066$119,030$118,017$113,785
2 years$60,503$59,377$58,285$57,226$56,199$51,980
3 years$39,935$38,803$37,714$36,665$35,655$31,583
4 years$29,653$28,525$27,446$26,415$25,429$21,535
5 years$23,485$22,364$21,299$20,289$19,331$15,625
6 years$19,375$18,262$17,213$16,226$15,296$11,781
7 years$16,440$15,336$14,304$13,340$12,440$9,114
8 years$14,239$13,146$12,131$11,191$10,320$7,182
9 years$12,529$11,446$10,448$9,532$8,691$5,736
10 years$11,162$10,089$9,109$8,217$7,405$4,628
11 years$10,044$8,982$8,020$7,151$6,369$3,763
12 years$9,112$8,061$7,117$6,272$5,519$3,080
13 years$8,325$7,285$6,359$5,537$4,813$2,532
14 years$7,651$6,622$5,713$4,916$4,219$2,091
15 years$7,067$6,049$5,158$4,384$3,714$1,732
16 years$6,557$5,550$4,677$3,925$3,283$1,438
17 years$6,107$5,111$4,256$3,527$2,911$1,197
18 years$5,708$4,723$3,885$3,178$2,588$998
19 years$5,351$4,377$3,556$2,872$2,307$833
20 years$5,030$4,068$3,264$2,601$2,061$696
21 years$4,740$3,789$3,002$2,361$1,844$583
22 years$4,477$3,537$2,767$2,146$1,653$488
23 years$4,237$3,308$2,555$1,955$1,484$409
24 years$4,017$3,099$2,363$1,783$1,334$343
25 years$3,816$2,909$2,188$1,628$1,200$288
26 years$3,630$2,734$2,030$1,489$1,081$241
27 years$3,458$2,573$1,885$1,363$975$203
28 years$3,299$2,424$1,752$1,248$879$170
29 years$3,151$2,287$1,630$1,145$794$143
30 years$3,013$2,160$1,519$1,051$717$120
31 years$2,884$2,042$1,416$965$649$101
32 years$2,763$1,932$1,321$887$587$85
33 years$2,650$1,829$1,233$816$531$71
34 years$2,544$1,734$1,152$750$481$60
35 years$2,445$1,645$1,077$691$435$50
36 years$2,351$1,561$1,008$636$395$42
37 years$2,262$1,483$943$586$358$36
38 years$2,178$1,409$883$540$324$30
39 years$2,099$1,340$828$498$294$25
40 years$2,023$1,275$776$459$267$21
41 years$1,952$1,213$727$424$242$18
42 years$1,884$1,156$682$391$220$15
43 years$1,820$1,101$640$361$199$13
44 years$1,758$1,050$601$333$181$11
45 years$1,700$1,001$564$308$164$9
46 years$1,644$955$530$284$149$7
47 years$1,591$911$498$263$135$6
48 years$1,540$870$468$243$123$5
49 years$1,492$831$440$224$112$4
50 years$1,445$793$414$207$101$4

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 $4,143 every year, while hoping to spend $25,341 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: 40/46/14 Blend
59$1,480,000$1,480,000$1,480,000$1,480,000
60$1,635,234$1,556,794$1,533,854$1,693,669
61$1,775,065$1,606,114$1,558,275$1,784,764
62$1,928,309$1,657,001$1,582,665$1,880,456
63$2,096,309$1,709,506$1,606,996$1,983,426
64$2,280,541$1,763,681$1,631,239$2,094,346
65$2,482,632$1,819,577$1,655,362$2,213,954
66$2,704,375$1,877,251$1,679,331$2,343,062
67$2,947,744$1,936,759$1,703,112$2,482,562
68$3,214,914$1,998,160$1,726,666$2,633,437
69$3,508,280$2,061,515$1,749,954$2,796,765
70$3,830,480$2,126,885$1,772,933$2,973,733
71$4,184,423$2,194,336$1,795,560$3,165,649
72$4,573,309$2,263,933$1,817,786$3,373,948
73$5,000,667$2,335,746$1,839,562$3,600,213
74$5,470,383$2,409,846$1,860,836$3,846,182
75$5,986,740$2,486,306$1,881,551$4,113,770
76$6,554,453$2,565,201$1,901,649$4,405,086
77$7,178,721$2,646,610$1,921,068$4,722,447
78$7,865,269$2,730,612$1,939,743$5,068,409
79$8,620,406$2,817,292$1,957,604$5,445,782
80$9,451,083$2,906,734$1,974,579$5,857,661
81$10,364,958$2,999,029$1,990,591$6,307,454
82$11,370,469$3,094,266$2,005,561$6,798,913
83$12,476,913$3,192,541$2,019,404$7,336,168
84$13,694,533$3,293,951$2,032,029$7,923,771
85$15,034,618$3,398,597$2,043,345$8,566,732
86$16,509,604$3,506,583$2,053,251$9,270,568
87$18,133,194$3,618,016$2,061,646$10,041,357
88$19,920,488$3,733,007$2,068,419$10,885,794
89$21,888,123$3,851,670$2,073,457$11,811,250
90$24,054,434$3,974,124$2,076,640$12,825,846
91$26,439,620$4,100,490$2,077,841$13,938,529
92$29,065,942$4,230,895$2,076,929$15,159,152
93$31,957,928$4,365,468$2,073,766$16,498,569
94$35,142,604$4,504,344$2,068,205$17,968,739
95$38,649,754$4,647,661$2,060,094$19,582,834
96$42,512,196$4,795,563$2,049,274$21,355,367
97$46,766,091$4,948,198$2,035,576$23,302,326
98$51,451,290$5,105,717$2,018,826$25,441,324
99$56,611,704$5,268,279$1,998,839$27,791,767
100$62,295,720$5,436,047$1,975,422$30,375,036