Can I retire at age 60 with 1,550,000?

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 $1,550,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$127,998$126,857$125,745$124,659$123,599$120,513
2 years$63,365$62,185$61,041$59,932$58,857$55,767
3 years$41,824$40,639$39,498$38,399$37,341$34,345
4 years$31,055$29,874$28,744$27,664$26,632$23,752
5 years$24,596$23,421$22,307$21,249$20,245$17,489
6 years$20,291$19,125$18,027$16,993$16,019$13,390
7 years$17,217$16,061$14,981$13,971$13,028$10,526
8 years$14,913$13,768$12,705$11,720$10,808$8,432
9 years$13,122$11,987$10,943$9,983$9,102$6,850
10 years$11,690$10,566$9,540$8,605$7,755$5,625
11 years$10,519$9,406$8,399$7,489$6,670$4,657
12 years$9,543$8,443$7,454$6,569$5,780$3,882
13 years$8,719$7,630$6,659$5,799$5,040$3,254
14 years$8,013$6,935$5,984$5,148$4,418$2,739
15 years$7,402$6,335$5,402$4,591$3,890$2,314
16 years$6,867$5,813$4,898$4,111$3,438$1,960
17 years$6,396$5,353$4,457$3,694$3,048$1,665
18 years$5,978$4,947$4,069$3,329$2,711$1,417
19 years$5,604$4,584$3,725$3,008$2,416$1,209
20 years$5,268$4,260$3,418$2,724$2,158$1,032
21 years$4,964$3,968$3,144$2,472$1,931$882
22 years$4,689$3,704$2,898$2,248$1,731$755
23 years$4,437$3,464$2,676$2,047$1,554$647
24 years$4,207$3,246$2,475$1,867$1,397$555
25 years$3,996$3,046$2,292$1,705$1,257$476
26 years$3,801$2,863$2,126$1,559$1,132$409
27 years$3,621$2,694$1,974$1,427$1,021$351
28 years$3,455$2,539$1,835$1,308$921$301
29 years$3,300$2,395$1,708$1,199$832$259
30 years$3,155$2,262$1,591$1,100$751$223
31 years$3,020$2,138$1,483$1,011$679$192
32 years$2,894$2,023$1,383$929$615$165
33 years$2,776$1,916$1,292$854$556$142
34 years$2,665$1,816$1,207$786$504$122
35 years$2,560$1,722$1,128$723$456$105
36 years$2,462$1,635$1,056$666$413$90
37 years$2,369$1,553$988$614$374$78
38 years$2,281$1,476$925$566$340$67
39 years$2,198$1,403$867$522$308$58
40 years$2,119$1,335$813$481$279$50
41 years$2,044$1,271$762$444$253$43
42 years$1,973$1,210$715$410$230$37
43 years$1,906$1,153$671$378$209$32
44 years$1,842$1,099$629$349$189$27
45 years$1,780$1,048$591$323$172$23
46 years$1,722$1,000$555$298$156$20
47 years$1,666$954$522$275$142$17
48 years$1,613$911$490$254$129$15
49 years$1,562$870$461$235$117$13
50 years$1,513$831$433$217$106$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,550,000, adding $2,785 every year, while hoping to spend $46,896 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: 33/50/17 Blend
59$1,550,000$1,550,000$1,550,000$1,550,000
60$1,710,973$1,628,823$1,604,798$1,758,301
61$1,835,595$1,658,738$1,608,661$1,823,361
62$1,971,357$1,688,547$1,611,083$1,888,893
63$2,119,345$1,718,196$1,611,964$1,958,519
64$2,280,756$1,747,626$1,611,203$2,032,627
65$2,456,906$1,776,772$1,608,691$2,111,641
66$2,649,244$1,805,567$1,604,315$2,196,035
67$2,859,364$1,833,938$1,597,957$2,286,328
68$3,089,024$1,861,805$1,589,494$2,383,096
69$3,340,157$1,889,086$1,578,794$2,486,976
70$3,614,890$1,915,688$1,565,721$2,598,671
71$3,915,568$1,941,517$1,550,132$2,718,956
72$4,244,773$1,966,467$1,531,878$2,848,691
73$4,605,345$1,990,430$1,510,801$2,988,823
74$5,000,416$2,013,286$1,486,738$3,140,401
75$5,433,431$2,034,910$1,459,517$3,304,580
76$5,908,187$2,055,167$1,428,957$3,482,641
77$6,428,866$2,073,914$1,394,871$3,675,995
78$7,000,073$2,090,998$1,357,061$3,886,202
79$7,626,879$2,106,256$1,315,322$4,114,986
80$8,314,874$2,119,515$1,269,438$4,364,250
81$9,070,210$2,130,590$1,219,183$4,636,096
82$9,899,668$2,139,286$1,164,322$4,932,845
83$10,810,715$2,145,392$1,104,609$5,257,061
84$11,811,581$2,148,689$1,039,785$5,611,574
85$12,911,326$2,148,939$969,582$5,999,509
86$14,119,938$2,145,893$893,719$6,424,318
87$15,448,414$2,139,285$811,902$6,889,809
88$16,908,875$2,128,833$723,824$7,400,188
89$18,514,672$2,114,237$629,163$7,960,097
90$20,280,515$2,095,181$527,586$8,574,660
91$22,222,609$2,071,327$418,743$9,249,535
92$24,358,813$2,042,319$302,268$9,990,962
93$26,708,798$2,007,779$177,780$10,805,832
94$29,294,241$1,967,305$44,881$11,701,747
95$32,139,025$1,920,475$0$12,687,098
96$35,269,466$1,866,839$0$13,788,728
97$38,714,558$1,805,920$0$15,009,098
98$42,506,249$1,737,217$0$16,351,412
99$46,679,741$1,660,195$0$17,828,192
100$51,273,821$1,574,291$0$19,453,248