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%11.4%
1 years$123,869$122,765$121,689$120,638$119,612$118,908
2 years$61,321$60,179$59,072$57,999$56,958$56,248
3 years$40,475$39,328$38,224$37,161$36,137$35,442
4 years$30,053$28,910$27,817$26,772$25,773$25,100
5 years$23,802$22,666$21,587$20,564$19,592$18,942
6 years$19,636$18,508$17,446$16,445$15,503$14,876
7 years$16,662$15,543$14,497$13,520$12,608$12,006
8 years$14,432$13,323$12,295$11,342$10,459$9,881
9 years$12,698$11,600$10,590$9,661$8,808$8,254
10 years$11,312$10,225$9,232$8,328$7,505$6,975
11 years$10,179$9,103$8,128$7,247$6,455$5,948
12 years$9,236$8,170$7,213$6,357$5,593$5,110
13 years$8,438$7,384$6,445$5,612$4,878$4,417
14 years$7,754$6,711$5,791$4,982$4,276$3,837
15 years$7,163$6,131$5,228$4,443$3,765$3,347
16 years$6,646$5,625$4,740$3,978$3,327$2,931
17 years$6,190$5,181$4,313$3,574$2,950$2,574
18 years$5,785$4,787$3,937$3,221$2,623$2,266
19 years$5,423$4,437$3,605$2,911$2,338$2,000
20 years$5,098$4,123$3,308$2,636$2,088$1,769
21 years$4,804$3,840$3,043$2,393$1,869$1,567
22 years$4,537$3,585$2,804$2,175$1,675$1,390
23 years$4,294$3,353$2,589$1,981$1,504$1,235
24 years$4,072$3,141$2,395$1,807$1,352$1,098
25 years$3,867$2,948$2,218$1,650$1,216$978
26 years$3,679$2,770$2,057$1,509$1,096$871
27 years$3,505$2,607$1,910$1,381$988$777
28 years$3,343$2,457$1,776$1,265$891$693
29 years$3,193$2,318$1,652$1,160$805$619
30 years$3,053$2,189$1,539$1,065$727$553
31 years$2,923$2,069$1,435$978$657$495
32 years$2,801$1,958$1,339$899$595$442
33 years$2,686$1,854$1,250$827$538$396
34 years$2,579$1,757$1,168$761$487$354
35 years$2,478$1,667$1,092$700$441$317
36 years$2,382$1,582$1,022$645$400$284
37 years$2,292$1,503$956$594$362$254
38 years$2,207$1,428$895$548$329$228
39 years$2,127$1,358$839$505$298$204
40 years$2,051$1,292$786$466$270$183
41 years$1,978$1,230$737$430$245$164
42 years$1,910$1,171$692$397$222$147
43 years$1,844$1,116$649$366$202$132
44 years$1,782$1,064$609$338$183$118
45 years$1,723$1,014$572$312$166$106
46 years$1,666$968$537$288$151$95
47 years$1,613$923$505$266$137$85
48 years$1,561$882$474$246$125$77
49 years$1,512$842$446$227$113$69
50 years$1,465$804$419$210$103$62

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 $4,911 every year, while hoping to spend $24,783 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: 59/19/22 Blend
59$1,500,000$1,500,000$1,500,000$1,500,000
60$1,658,066$1,578,566$1,555,316$1,745,908
61$1,800,819$1,629,546$1,581,050$1,857,152
62$1,957,304$1,682,195$1,606,815$1,975,310
63$2,128,892$1,736,566$1,632,587$2,103,636
64$2,317,099$1,792,718$1,658,339$2,243,119
65$2,523,591$1,850,709$1,684,042$2,394,848
66$2,750,206$1,910,602$1,709,665$2,560,024
67$2,998,965$1,972,459$1,735,177$2,739,966
68$3,272,097$2,036,347$1,760,543$2,936,129
69$3,572,056$2,102,334$1,785,726$3,150,114
70$3,901,547$2,170,489$1,810,689$3,383,683
71$4,263,547$2,240,886$1,835,390$3,638,780
72$4,661,339$2,313,600$1,859,786$3,917,543
73$5,098,538$2,388,708$1,883,831$4,222,328
74$5,579,126$2,466,291$1,907,476$4,555,728
75$6,107,490$2,546,433$1,930,670$4,920,603
76$6,688,466$2,629,220$1,953,359$5,320,099
77$7,327,378$2,714,741$1,975,485$5,757,684
78$8,030,095$2,803,087$1,996,989$6,237,179
79$8,803,082$2,894,356$2,017,805$6,762,792
80$9,653,462$2,988,645$2,037,867$7,339,158
81$10,589,083$3,086,057$2,057,104$7,971,384
82$11,618,593$3,186,697$2,075,441$8,665,098
83$12,751,521$3,290,676$2,092,799$9,426,498
84$13,998,363$3,398,107$2,109,095$10,262,413
85$15,370,688$3,509,106$2,124,242$11,180,369
86$16,881,242$3,623,796$2,138,147$12,188,656
87$18,544,069$3,742,302$2,150,715$13,296,409
88$20,374,644$3,864,755$2,161,844$14,513,691
89$22,390,018$3,991,289$2,171,427$15,851,593
90$24,608,981$4,122,043$2,179,351$17,322,333
91$27,052,237$4,257,163$2,185,499$18,939,374
92$29,742,599$4,396,797$2,189,746$20,717,552
93$32,705,205$4,541,101$2,191,964$22,673,212
94$35,967,756$4,690,235$2,192,015$24,824,365
95$39,560,776$4,844,365$2,189,756$27,190,858
96$43,517,899$5,003,664$2,185,037$29,794,561
97$47,876,190$5,168,308$2,177,701$32,659,570
98$52,676,489$5,338,484$2,167,582$35,812,441
99$57,963,803$5,514,381$2,154,507$39,282,433
100$63,787,723$5,696,197$2,138,295$43,101,788