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

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 $1,540,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$127,172$126,039$124,934$123,855$122,802$119,687
2 years$62,956$61,784$60,647$59,546$58,477$55,360
3 years$41,554$40,376$39,243$38,152$37,100$34,077
4 years$30,855$29,681$28,559$27,486$26,460$23,555
5 years$24,437$23,270$22,163$21,112$20,115$17,335
6 years$20,160$19,002$17,911$16,883$15,916$13,265
7 years$17,106$15,958$14,884$13,881$12,944$10,422
8 years$14,817$13,679$12,623$11,644$10,738$8,343
9 years$13,037$11,910$10,872$9,918$9,043$6,774
10 years$11,614$10,498$9,478$8,550$7,705$5,559
11 years$10,451$9,346$8,345$7,441$6,627$4,600
12 years$9,482$8,388$7,406$6,527$5,743$3,832
13 years$8,663$7,580$6,617$5,762$5,008$3,209
14 years$7,961$6,890$5,945$5,115$4,390$2,700
15 years$7,354$6,295$5,368$4,562$3,865$2,279
16 years$6,823$5,775$4,866$4,084$3,416$1,930
17 years$6,355$5,319$4,428$3,670$3,029$1,638
18 years$5,939$4,915$4,042$3,307$2,693$1,393
19 years$5,568$4,555$3,701$2,988$2,400$1,187
20 years$5,234$4,233$3,396$2,707$2,144$1,013
21 years$4,932$3,943$3,124$2,456$1,919$865
22 years$4,658$3,680$2,879$2,233$1,720$740
23 years$4,409$3,442$2,658$2,034$1,544$634
24 years$4,180$3,225$2,459$1,855$1,388$543
25 years$3,970$3,026$2,277$1,694$1,249$465
26 years$3,777$2,844$2,112$1,549$1,125$399
27 years$3,598$2,677$1,961$1,418$1,014$342
28 years$3,432$2,522$1,823$1,299$915$294
29 years$3,278$2,380$1,697$1,191$826$252
30 years$3,135$2,247$1,580$1,093$747$217
31 years$3,001$2,124$1,473$1,004$675$186
32 years$2,875$2,010$1,375$923$611$160
33 years$2,758$1,904$1,283$849$553$138
34 years$2,648$1,804$1,199$781$500$118
35 years$2,544$1,711$1,121$719$453$102
36 years$2,446$1,624$1,049$662$411$88
37 years$2,354$1,543$982$610$372$75
38 years$2,266$1,466$919$562$337$65
39 years$2,184$1,394$861$518$306$56
40 years$2,105$1,326$807$478$277$48
41 years$2,031$1,263$757$441$252$41
42 years$1,961$1,202$710$407$228$35
43 years$1,894$1,146$666$376$207$31
44 years$1,830$1,092$625$347$188$26
45 years$1,769$1,041$587$320$171$23
46 years$1,711$993$552$296$155$19
47 years$1,656$948$518$273$141$17
48 years$1,603$905$487$253$128$14
49 years$1,552$864$458$234$116$12
50 years$1,504$826$430$216$106$11

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 $4,387 every year, while hoping to spend $49,436 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: 69/18/13 Blend
59$1,540,000$1,540,000$1,540,000$1,540,000
60$1,701,605$1,619,985$1,596,115$1,813,820
61$1,822,569$1,646,765$1,596,986$1,915,745
62$1,954,215$1,673,200$1,596,228$2,020,874
63$2,097,580$1,699,221$1,593,736$2,134,607
64$2,253,804$1,724,755$1,589,398$2,257,783
65$2,424,145$1,749,721$1,583,096$2,391,326
66$2,609,986$1,774,035$1,574,707$2,536,256
67$2,812,847$1,797,605$1,564,103$2,693,695
68$3,034,404$1,820,335$1,551,147$2,864,881
69$3,276,502$1,842,119$1,535,698$3,051,177
70$3,541,170$1,862,848$1,517,609$3,254,086
71$3,830,643$1,882,402$1,496,723$3,475,265
72$4,147,384$1,900,654$1,472,879$3,716,540
73$4,494,102$1,917,471$1,445,905$3,979,923
74$4,873,781$1,932,708$1,415,623$4,267,633
75$5,289,707$1,946,211$1,381,847$4,582,114
76$5,745,500$1,957,819$1,344,383$4,926,062
77$6,245,146$1,967,357$1,303,024$5,302,447
78$6,793,035$1,974,641$1,257,559$5,714,545
79$7,394,000$1,979,474$1,207,763$6,165,964
80$8,053,369$1,981,649$1,153,404$6,660,684
81$8,777,006$1,980,944$1,094,237$7,203,090
82$9,571,374$1,977,123$1,030,007$7,798,018
83$10,443,589$1,969,937$960,447$8,450,796
84$11,401,492$1,959,121$885,279$9,167,298
85$12,453,720$1,944,393$804,211$9,954,001
86$13,609,787$1,925,456$716,940$10,818,042
87$14,880,175$1,901,994$623,147$11,767,289
88$16,276,432$1,873,670$522,502$12,810,414
89$17,811,279$1,840,131$414,657$13,956,979
90$19,498,732$1,801,001$299,251$15,217,520
91$21,354,233$1,755,879$175,905$16,603,654
92$23,394,793$1,704,346$44,227$18,128,184
93$25,639,157$1,645,954$0$19,805,224
94$28,107,977$1,580,231$0$21,663,687
95$30,824,005$1,506,677$0$23,714,777
96$33,812,311$1,424,762$0$25,971,317
97$37,100,520$1,333,928$0$28,454,204
98$40,719,065$1,233,583$0$31,186,469
99$44,701,481$1,123,100$0$34,193,493
100$49,084,721$1,001,820$0$37,503,247