Can I retire at age 60 with 1,540,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,540,000?

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$127,172$126,039$124,934$123,855$122,802$118,398
2 years$62,956$61,784$60,647$59,546$58,477$54,088
3 years$41,554$40,376$39,243$38,152$37,100$32,863
4 years$30,855$29,681$28,559$27,486$26,460$22,408
5 years$24,437$23,270$22,163$21,112$20,115$16,258
6 years$20,160$19,002$17,911$16,883$15,916$12,258
7 years$17,106$15,958$14,884$13,881$12,944$9,484
8 years$14,817$13,679$12,623$11,644$10,738$7,473
9 years$13,037$11,910$10,872$9,918$9,043$5,968
10 years$11,614$10,498$9,478$8,550$7,705$4,815
11 years$10,451$9,346$8,345$7,441$6,627$3,916
12 years$9,482$8,388$7,406$6,527$5,743$3,204
13 years$8,663$7,580$6,617$5,762$5,008$2,635
14 years$7,961$6,890$5,945$5,115$4,390$2,175
15 years$7,354$6,295$5,368$4,562$3,865$1,802
16 years$6,823$5,775$4,866$4,084$3,416$1,496
17 years$6,355$5,319$4,428$3,670$3,029$1,245
18 years$5,939$4,915$4,042$3,307$2,693$1,038
19 years$5,568$4,555$3,701$2,988$2,400$867
20 years$5,234$4,233$3,396$2,707$2,144$724
21 years$4,932$3,943$3,124$2,456$1,919$606
22 years$4,658$3,680$2,879$2,233$1,720$508
23 years$4,409$3,442$2,658$2,034$1,544$425
24 years$4,180$3,225$2,459$1,855$1,388$357
25 years$3,970$3,026$2,277$1,694$1,249$299
26 years$3,777$2,844$2,112$1,549$1,125$251
27 years$3,598$2,677$1,961$1,418$1,014$211
28 years$3,432$2,522$1,823$1,299$915$177
29 years$3,278$2,380$1,697$1,191$826$149
30 years$3,135$2,247$1,580$1,093$747$125
31 years$3,001$2,124$1,473$1,004$675$105
32 years$2,875$2,010$1,375$923$611$88
33 years$2,758$1,904$1,283$849$553$74
34 years$2,648$1,804$1,199$781$500$62
35 years$2,544$1,711$1,121$719$453$52
36 years$2,446$1,624$1,049$662$411$44
37 years$2,354$1,543$982$610$372$37
38 years$2,266$1,466$919$562$337$31
39 years$2,184$1,394$861$518$306$26
40 years$2,105$1,326$807$478$277$22
41 years$2,031$1,263$757$441$252$19
42 years$1,961$1,202$710$407$228$16
43 years$1,894$1,146$666$376$207$13
44 years$1,830$1,092$625$347$188$11
45 years$1,769$1,041$587$320$171$9
46 years$1,711$993$552$296$155$8
47 years$1,656$948$518$273$141$7
48 years$1,603$905$487$253$128$6
49 years$1,552$864$458$234$116$5
50 years$1,504$826$430$216$106$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,540,000, adding $3,066 every year, while hoping to spend $52,480 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: 32/49/19 Blend
59$1,540,000$1,540,000$1,540,000$1,540,000
60$1,700,243$1,618,623$1,594,753$1,744,516
61$1,817,829$1,642,097$1,592,338$1,801,292
62$1,945,650$1,664,962$1,588,085$1,857,395
63$2,084,695$1,687,134$1,581,874$1,916,719
64$2,236,051$1,708,520$1,573,584$1,979,576
65$2,400,915$1,729,025$1,563,085$2,046,313
66$2,580,604$1,748,542$1,550,244$2,117,315
67$2,776,567$1,766,962$1,534,919$2,193,007
68$2,990,399$1,784,166$1,516,961$2,273,863
69$3,223,857$1,800,028$1,496,217$2,360,407
70$3,478,874$1,814,412$1,472,523$2,453,220
71$3,757,577$1,827,176$1,445,711$2,552,944
72$4,062,309$1,838,167$1,415,601$2,660,293
73$4,395,650$1,847,223$1,382,010$2,776,057
74$4,760,440$1,854,170$1,344,740$2,901,110
75$5,159,806$1,858,826$1,303,590$3,036,420
76$5,597,192$1,860,994$1,258,346$3,183,062
77$6,076,391$1,860,468$1,208,786$3,342,220
78$6,601,579$1,857,027$1,154,677$3,515,211
79$7,177,356$1,850,437$1,095,774$3,703,487
80$7,808,788$1,840,451$1,031,825$3,908,658
81$8,501,456$1,826,804$962,562$4,132,505
82$9,261,505$1,809,219$887,709$4,376,997
83$10,095,706$1,787,398$806,974$4,644,313
84$11,011,515$1,761,027$720,055$4,936,861
85$12,017,147$1,729,775$626,635$5,257,305
86$13,121,652$1,693,290$526,382$5,608,590
87$14,334,996$1,651,197$418,952$5,993,973
88$15,668,162$1,603,102$303,984$6,417,052
89$17,133,248$1,548,587$181,100$6,881,805
90$18,743,580$1,487,209$49,908$7,392,626
91$20,513,843$1,418,500$0$7,954,373
92$22,460,213$1,341,964$0$8,590,678
93$24,600,512$1,257,078$0$9,301,187
94$26,954,376$1,163,287$0$10,082,411
95$29,543,440$1,060,005$0$10,941,678
96$32,391,540$946,614$0$11,887,075
97$35,524,937$822,459$0$12,927,524
98$38,972,570$686,848$0$14,072,876
99$42,766,319$539,051$0$15,333,996
100$46,941,315$378,296$0$16,722,874