Can I retire at age 60 with 1,520,000?

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 $1,520,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$125,520$124,402$123,311$122,247$121,207$118,133
2 years$62,139$60,981$59,860$58,772$57,718$54,641
3 years$41,014$39,852$38,733$37,656$36,618$33,635
4 years$30,454$29,295$28,188$27,129$26,117$23,249
5 years$24,120$22,968$21,875$20,838$19,853$17,110
6 years$19,898$18,755$17,678$16,664$15,709$13,093
7 years$16,884$15,751$14,691$13,700$12,776$10,286
8 years$14,624$13,501$12,459$11,493$10,599$8,235
9 years$12,868$11,755$10,731$9,789$8,926$6,686
10 years$11,463$10,362$9,355$8,439$7,605$5,487
11 years$10,315$9,224$8,236$7,344$6,541$4,540
12 years$9,359$8,279$7,310$6,442$5,668$3,782
13 years$8,550$7,482$6,531$5,687$4,943$3,168
14 years$7,858$6,801$5,868$5,048$4,333$2,664
15 years$7,258$6,213$5,298$4,502$3,815$2,249
16 years$6,734$5,700$4,803$4,031$3,372$1,905
17 years$6,272$5,250$4,371$3,622$2,989$1,617
18 years$5,862$4,851$3,990$3,264$2,658$1,375
19 years$5,495$4,496$3,653$2,950$2,369$1,172
20 years$5,166$4,178$3,352$2,671$2,116$1,000
21 years$4,868$3,891$3,083$2,424$1,894$854
22 years$4,598$3,632$2,842$2,204$1,698$731
23 years$4,352$3,397$2,624$2,008$1,524$625
24 years$4,126$3,183$2,427$1,831$1,370$536
25 years$3,919$2,987$2,248$1,672$1,232$459
26 years$3,728$2,807$2,084$1,529$1,110$394
27 years$3,551$2,642$1,936$1,399$1,001$338
28 years$3,388$2,490$1,799$1,282$903$290
29 years$3,236$2,349$1,675$1,176$815$249
30 years$3,094$2,218$1,560$1,079$737$214
31 years$2,962$2,097$1,454$991$666$184
32 years$2,838$1,984$1,357$911$603$158
33 years$2,722$1,879$1,267$838$545$136
34 years$2,613$1,781$1,184$771$494$117
35 years$2,511$1,689$1,107$709$447$100
36 years$2,414$1,603$1,035$653$405$86
37 years$2,323$1,523$969$602$367$74
38 years$2,237$1,447$907$555$333$64
39 years$2,155$1,376$850$512$302$55
40 years$2,078$1,309$797$472$274$47
41 years$2,005$1,246$747$435$248$41
42 years$1,935$1,187$701$402$225$35
43 years$1,869$1,131$658$371$205$30
44 years$1,806$1,078$617$342$186$26
45 years$1,746$1,028$580$316$169$22
46 years$1,689$981$544$292$153$19
47 years$1,634$936$511$270$139$17
48 years$1,582$893$481$249$126$14
49 years$1,532$853$452$231$115$12
50 years$1,484$815$425$213$104$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,520,000, adding $2,430 every year, while hoping to spend $36,356 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: 52/30/18 Blend
59$1,520,000$1,520,000$1,520,000$1,520,000
60$1,677,547$1,596,987$1,573,427$1,756,393
61$1,809,974$1,636,556$1,587,454$1,850,379
62$1,954,690$1,676,847$1,600,733$1,948,547
63$2,112,911$1,717,854$1,613,199$2,054,531
64$2,285,973$1,759,575$1,624,787$2,169,083
65$2,475,351$1,802,002$1,635,426$2,293,034
66$2,682,665$1,845,129$1,645,041$2,427,296
67$2,909,703$1,888,947$1,653,556$2,572,876
68$3,158,431$1,933,443$1,660,889$2,730,883
69$3,431,016$1,978,606$1,666,953$2,902,537
70$3,729,842$2,024,421$1,671,658$3,089,185
71$4,057,538$2,070,869$1,674,911$3,292,309
72$4,416,997$2,117,932$1,676,611$3,513,543
73$4,811,407$2,165,587$1,676,654$3,754,687
74$5,244,279$2,213,810$1,674,930$4,017,725
75$5,719,481$2,262,571$1,671,325$4,304,844
76$6,241,271$2,311,841$1,665,718$4,618,452
77$6,814,345$2,361,585$1,657,984$4,961,205
78$7,443,870$2,411,765$1,647,988$5,336,028
79$8,135,543$2,462,339$1,635,594$5,746,146
80$8,895,636$2,513,262$1,620,655$6,195,114
81$9,731,063$2,564,484$1,603,018$6,686,847
82$10,649,438$2,615,950$1,582,525$7,225,664
83$11,659,149$2,667,600$1,559,009$7,816,321
84$12,769,441$2,719,371$1,532,294$8,464,062
85$13,990,495$2,771,191$1,502,197$9,174,668
86$15,333,532$2,822,986$1,468,528$9,954,508
87$16,810,913$2,874,673$1,431,084$10,810,602
88$18,436,258$2,926,164$1,389,657$11,750,688
89$20,224,573$2,977,363$1,344,027$12,783,295
90$22,192,392$3,028,166$1,293,965$13,917,823
91$24,357,934$3,078,464$1,239,230$15,164,632
92$26,741,271$3,128,136$1,179,572$16,535,142
93$29,364,522$3,177,056$1,114,729$18,041,937
94$32,252,056$3,225,086$1,044,426$19,698,888
95$35,430,729$3,272,078$968,377$21,521,286
96$38,930,129$3,317,874$886,283$23,525,980
97$42,782,859$3,362,308$797,830$25,731,543
98$47,024,846$3,405,196$702,694$28,158,445
99$51,695,678$3,446,348$600,531$30,829,247
100$56,838,974$3,485,557$490,986$33,768,814