Can I retire at age 60 with 1,560,000?

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 $1,560,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$128,823$127,676$126,556$125,464$124,397$123,561
2 years$63,774$62,586$61,435$60,319$59,236$58,394
3 years$42,094$40,901$39,753$38,647$37,582$36,758
4 years$31,256$30,066$28,930$27,843$26,804$26,005
5 years$24,754$23,572$22,451$21,386$20,376$19,605
6 years$20,422$19,249$18,143$17,103$16,123$15,380
7 years$17,328$16,165$15,077$14,061$13,112$12,399
8 years$15,009$13,856$12,787$11,795$10,878$10,193
9 years$13,206$12,064$11,013$10,047$9,161$8,505
10 years$11,765$10,634$9,602$8,661$7,805$7,178
11 years$10,586$9,467$8,453$7,537$6,713$6,114
12 years$9,605$8,497$7,502$6,611$5,817$5,246
13 years$8,775$7,679$6,702$5,837$5,073$4,528
14 years$8,065$6,980$6,022$5,181$4,447$3,929
15 years$7,449$6,376$5,437$4,621$3,915$3,423
16 years$6,911$5,850$4,930$4,137$3,460$2,993
17 years$6,437$5,388$4,486$3,717$3,068$2,625
18 years$6,016$4,979$4,095$3,350$2,728$2,308
19 years$5,640$4,614$3,749$3,027$2,432$2,034
20 years$5,302$4,288$3,440$2,742$2,172$1,796
21 years$4,996$3,994$3,164$2,488$1,944$1,589
22 years$4,719$3,728$2,917$2,262$1,742$1,407
23 years$4,466$3,487$2,693$2,060$1,564$1,248
24 years$4,235$3,267$2,491$1,879$1,406$1,109
25 years$4,022$3,066$2,307$1,716$1,265$985
26 years$3,826$2,881$2,139$1,569$1,139$877
27 years$3,645$2,712$1,987$1,436$1,027$781
28 years$3,477$2,555$1,847$1,316$927$696
29 years$3,321$2,411$1,719$1,207$837$620
30 years$3,175$2,276$1,601$1,108$756$553
31 years$3,040$2,152$1,492$1,017$684$494
32 years$2,913$2,036$1,392$935$618$441
33 years$2,794$1,928$1,300$860$560$394
34 years$2,682$1,828$1,215$791$507$352
35 years$2,577$1,733$1,136$728$459$314
36 years$2,478$1,645$1,062$671$416$281
37 years$2,384$1,563$994$618$377$251
38 years$2,296$1,485$931$569$342$225
39 years$2,212$1,412$872$525$310$201
40 years$2,133$1,344$818$484$281$180
41 years$2,058$1,279$767$447$255$161
42 years$1,986$1,218$719$412$231$144
43 years$1,918$1,161$675$381$210$129
44 years$1,854$1,106$634$351$191$116
45 years$1,792$1,055$595$325$173$103
46 years$1,733$1,006$559$300$157$93
47 years$1,677$960$525$277$143$83
48 years$1,623$917$493$256$130$74
49 years$1,572$875$464$237$118$66
50 years$1,523$836$436$219$107$60

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,560,000, adding $2,598 every year, while hoping to spend $35,990 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: 36/34/30 Blend
59$1,560,000$1,560,000$1,560,000$1,560,000
60$1,721,800$1,639,120$1,614,940$1,768,223
61$1,859,130$1,681,144$1,630,747$1,845,193
62$2,009,262$1,724,020$1,645,878$1,924,814
63$2,173,464$1,767,754$1,660,271$2,010,095
64$2,353,130$1,812,347$1,673,863$2,101,572
65$2,549,798$1,857,801$1,686,587$2,199,835
66$2,765,161$1,904,117$1,698,371$2,305,534
67$3,001,083$1,951,294$1,709,142$2,419,383
68$3,259,615$1,999,329$1,718,820$2,542,173
69$3,543,020$2,048,220$1,727,324$2,674,775
70$3,853,785$2,097,960$1,734,567$2,818,146
71$4,194,654$2,148,543$1,740,458$2,973,344
72$4,568,647$2,199,960$1,744,901$3,141,534
73$4,979,090$2,252,199$1,747,797$3,324,003
74$5,429,649$2,305,248$1,749,040$3,522,165
75$5,924,359$2,359,091$1,748,518$3,737,583
76$6,467,668$2,413,711$1,746,118$3,971,979
77$7,064,473$2,469,086$1,741,716$4,227,251
78$7,720,172$2,525,193$1,735,186$4,505,491
79$8,440,708$2,582,006$1,726,393$4,809,009
80$9,232,630$2,639,495$1,715,197$5,140,347
81$10,103,154$2,697,626$1,701,452$5,502,310
82$11,060,229$2,756,363$1,685,004$5,897,993
83$12,112,612$2,815,664$1,665,691$6,330,803
84$13,269,951$2,875,484$1,643,344$6,804,501
85$14,542,877$2,935,774$1,617,788$7,323,232
86$15,943,103$2,996,479$1,588,836$7,891,565
87$17,483,532$3,057,540$1,556,295$8,514,539
88$19,178,384$3,118,891$1,519,962$9,197,708
89$21,043,324$3,180,461$1,479,625$9,947,197
90$23,095,613$3,242,173$1,435,063$10,769,757
91$25,354,270$3,303,945$1,386,042$11,672,832
92$27,840,252$3,365,684$1,332,321$12,664,629
93$30,576,650$3,427,295$1,273,645$13,754,194
94$33,588,905$3,488,669$1,209,750$14,951,501
95$36,905,054$3,549,695$1,140,357$16,267,547
96$40,555,988$3,610,248$1,065,177$17,714,453
97$44,575,745$3,670,197$983,907$19,305,581
98$49,001,834$3,729,399$896,231$21,055,663
99$53,875,583$3,787,702$801,817$22,980,940
100$59,242,536$3,844,942$700,321$25,099,312