Can I retire at age 60 with 1,500,000?

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 $1,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$123,869$122,765$121,689$120,638$119,612$115,368
2 years$61,321$60,179$59,072$57,999$56,958$52,728
3 years$40,475$39,328$38,224$37,161$36,137$32,053
4 years$30,053$28,910$27,817$26,772$25,773$21,867
5 years$23,802$22,666$21,587$20,564$19,592$15,874
6 years$19,636$18,508$17,446$16,445$15,503$11,975
7 years$16,662$15,543$14,497$13,520$12,608$9,270
8 years$14,432$13,323$12,295$11,342$10,459$7,309
9 years$12,698$11,600$10,590$9,661$8,808$5,841
10 years$11,312$10,225$9,232$8,328$7,505$4,715
11 years$10,179$9,103$8,128$7,247$6,455$3,837
12 years$9,236$8,170$7,213$6,357$5,593$3,142
13 years$8,438$7,384$6,445$5,612$4,878$2,585
14 years$7,754$6,711$5,791$4,982$4,276$2,136
15 years$7,163$6,131$5,228$4,443$3,765$1,770
16 years$6,646$5,625$4,740$3,978$3,327$1,471
17 years$6,190$5,181$4,313$3,574$2,950$1,225
18 years$5,785$4,787$3,937$3,221$2,623$1,022
19 years$5,423$4,437$3,605$2,911$2,338$854
20 years$5,098$4,123$3,308$2,636$2,088$714
21 years$4,804$3,840$3,043$2,393$1,869$598
22 years$4,537$3,585$2,804$2,175$1,675$501
23 years$4,294$3,353$2,589$1,981$1,504$421
24 years$4,072$3,141$2,395$1,807$1,352$353
25 years$3,867$2,948$2,218$1,650$1,216$296
26 years$3,679$2,770$2,057$1,509$1,096$249
27 years$3,505$2,607$1,910$1,381$988$209
28 years$3,343$2,457$1,776$1,265$891$176
29 years$3,193$2,318$1,652$1,160$805$148
30 years$3,053$2,189$1,539$1,065$727$124
31 years$2,923$2,069$1,435$978$657$104
32 years$2,801$1,958$1,339$899$595$88
33 years$2,686$1,854$1,250$827$538$74
34 years$2,579$1,757$1,168$761$487$62
35 years$2,478$1,667$1,092$700$441$52
36 years$2,382$1,582$1,022$645$400$44
37 years$2,292$1,503$956$594$362$37
38 years$2,207$1,428$895$548$329$31
39 years$2,127$1,358$839$505$298$26
40 years$2,051$1,292$786$466$270$22
41 years$1,978$1,230$737$430$245$19
42 years$1,910$1,171$692$397$222$16
43 years$1,844$1,116$649$366$202$13
44 years$1,782$1,064$609$338$183$11
45 years$1,723$1,014$572$312$166$9
46 years$1,666$968$537$288$151$8
47 years$1,613$923$505$266$137$7
48 years$1,561$882$474$246$125$6
49 years$1,512$842$446$227$113$5
50 years$1,465$804$419$210$103$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,500,000, adding $5,650 every year, while hoping to spend $56,646 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: 72/19/9 Blend
59$1,500,000$1,500,000$1,500,000$1,500,000
60$1,658,828$1,579,328$1,556,078$1,775,195
61$1,767,758$1,596,444$1,547,936$1,869,947
62$1,885,899$1,612,500$1,537,622$1,966,089
63$2,014,133$1,627,385$1,525,005$2,069,796
64$2,153,427$1,640,979$1,509,945$2,181,799
65$2,304,845$1,653,156$1,492,296$2,302,905
66$2,469,559$1,663,780$1,471,907$2,434,000
67$2,648,856$1,672,707$1,448,619$2,576,065
68$2,844,155$1,679,785$1,422,263$2,730,178
69$3,057,015$1,684,851$1,392,665$2,897,529
70$3,289,154$1,687,732$1,359,643$3,079,429
71$3,542,461$1,688,245$1,323,004$3,277,322
72$3,819,017$1,686,194$1,282,550$3,492,803
73$4,121,111$1,681,371$1,238,069$3,727,627
74$4,451,264$1,673,558$1,189,344$3,983,731
75$4,812,251$1,662,521$1,136,146$4,263,248
76$5,207,129$1,648,012$1,078,234$4,568,533
77$5,639,260$1,629,769$1,015,360$4,902,178
78$6,112,351$1,607,514$947,261$5,267,045
79$6,630,480$1,580,952$873,663$5,666,285
80$7,198,141$1,549,770$794,283$6,103,376
81$7,820,281$1,513,638$708,820$6,582,149
82$8,502,348$1,472,206$616,965$7,106,830
83$9,250,345$1,425,101$518,391$7,682,076
84$10,070,882$1,371,933$412,758$8,313,022
85$10,971,239$1,312,284$299,713$9,005,330
86$11,959,436$1,245,717$178,884$9,765,242
87$13,044,306$1,171,765$49,884$10,599,637
88$14,235,582$1,089,937$0$11,516,101
89$15,543,981$999,714$0$12,531,428
90$16,981,312$900,545$0$13,652,066
91$18,560,584$791,850$0$14,883,426
92$20,296,128$673,015$0$16,236,756
93$22,203,732$543,392$0$17,724,454
94$24,300,790$402,295$0$19,360,184
95$26,606,465$249,002$0$21,159,007
96$29,141,868$82,747$0$23,137,522
97$31,930,261$0$0$25,314,024
98$34,997,272$0$0$27,729,015
99$38,371,137$0$0$30,404,739
100$42,082,967$0$0$33,348,579