Can I retire at age 60 with 1,580,000?

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 $1,580,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$130,475$129,313$128,179$127,072$125,991$123,196
2 years$64,592$63,389$62,223$61,092$59,996$57,194
3 years$42,633$41,425$40,262$39,142$38,064$35,343
4 years$31,656$30,452$29,301$28,200$27,147$24,529
5 years$25,072$23,875$22,738$21,660$20,637$18,128
6 years$20,684$19,495$18,376$17,322$16,329$13,932
7 years$17,550$16,372$15,271$14,241$13,280$10,995
8 years$15,202$14,034$12,951$11,947$11,017$8,844
9 years$13,376$12,219$11,154$10,176$9,278$7,215
10 years$11,916$10,771$9,725$8,772$7,905$5,950
11 years$10,722$9,588$8,561$7,634$6,799$4,949
12 years$9,728$8,606$7,598$6,696$5,892$4,144
13 years$8,888$7,777$6,788$5,912$5,138$3,490
14 years$8,168$7,069$6,099$5,248$4,504$2,951
15 years$7,545$6,458$5,507$4,680$3,965$2,506
16 years$7,000$5,925$4,993$4,190$3,505$2,134
17 years$6,520$5,457$4,543$3,765$3,107$1,822
18 years$6,093$5,042$4,147$3,393$2,763$1,558
19 years$5,712$4,673$3,797$3,066$2,463$1,336
20 years$5,370$4,343$3,484$2,777$2,200$1,147
21 years$5,060$4,045$3,205$2,520$1,969$986
22 years$4,779$3,776$2,954$2,291$1,765$848
23 years$4,523$3,531$2,727$2,087$1,584$731
24 years$4,289$3,309$2,522$1,903$1,424$630
25 years$4,073$3,105$2,336$1,738$1,281$544
26 years$3,875$2,918$2,167$1,589$1,154$469
27 years$3,692$2,746$2,012$1,455$1,040$405
28 years$3,521$2,588$1,870$1,333$939$350
29 years$3,363$2,441$1,741$1,222$848$303
30 years$3,216$2,306$1,621$1,122$766$262
31 years$3,079$2,180$1,512$1,030$692$226
32 years$2,950$2,062$1,410$947$626$196
33 years$2,830$1,953$1,317$871$567$170
34 years$2,716$1,851$1,230$801$513$147
35 years$2,610$1,756$1,150$737$465$127
36 years$2,509$1,666$1,076$679$421$110
37 years$2,415$1,583$1,007$626$382$95
38 years$2,325$1,504$943$577$346$82
39 years$2,240$1,430$884$532$314$71
40 years$2,160$1,361$828$491$285$62
41 years$2,084$1,295$777$453$258$54
42 years$2,012$1,234$728$418$234$46
43 years$1,943$1,175$684$386$213$40
44 years$1,877$1,120$642$356$193$35
45 years$1,815$1,068$603$329$175$30
46 years$1,755$1,019$566$304$159$26
47 years$1,699$973$532$281$144$23
48 years$1,644$929$500$259$131$20
49 years$1,592$887$470$240$119$17
50 years$1,543$847$441$221$108$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,580,000, adding $4,691 every year, while hoping to spend $30,472 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: 43/27/30 Blend
59$1,580,000$1,580,000$1,580,000$1,580,000
60$1,745,999$1,662,259$1,637,769$1,805,626
61$1,891,669$1,711,287$1,660,212$1,898,000
62$2,051,176$1,761,697$1,682,386$1,994,805
63$2,225,899$1,813,524$1,704,249$2,099,127
64$2,417,357$1,866,803$1,725,758$2,211,684
65$2,627,223$1,921,572$1,746,867$2,333,263
66$2,857,340$1,977,869$1,767,526$2,464,734
67$3,109,735$2,035,731$1,787,685$2,607,053
68$3,386,645$2,095,199$1,807,290$2,761,274
69$3,690,531$2,156,311$1,826,282$2,928,555
70$4,024,104$2,219,110$1,844,601$3,110,177
71$4,390,351$2,283,635$1,862,184$3,307,544
72$4,792,563$2,349,929$1,878,964$3,522,209
73$5,234,364$2,418,036$1,894,868$3,755,878
74$5,719,747$2,487,997$1,909,824$4,010,434
75$6,253,111$2,559,858$1,923,753$4,287,948
76$6,839,301$2,633,664$1,936,572$4,590,704
77$7,483,657$2,709,461$1,948,193$4,921,219
78$8,192,059$2,787,293$1,958,527$5,282,263
79$8,970,988$2,867,210$1,967,477$5,676,892
80$9,827,582$2,949,257$1,974,941$6,108,471
81$10,769,709$3,033,483$1,980,814$6,580,707
82$11,806,033$3,119,938$1,984,986$7,097,687
83$12,946,103$3,208,670$1,987,338$7,663,913
84$14,200,440$3,299,729$1,987,748$8,284,347
85$15,580,636$3,393,166$1,986,088$8,964,455
86$17,099,461$3,489,032$1,982,222$9,710,264
87$18,770,989$3,587,377$1,976,009$10,528,411
88$20,610,725$3,688,254$1,967,301$11,426,213
89$22,635,755$3,791,714$1,955,942$12,411,733
90$24,864,904$3,897,810$1,941,768$13,493,856
91$27,318,915$4,006,595$1,924,608$14,682,373
92$30,020,647$4,118,120$1,904,285$15,988,076
93$32,995,284$4,232,438$1,880,609$17,422,854
94$36,270,578$4,349,603$1,853,385$18,999,814
95$39,877,111$4,469,668$1,822,407$20,733,397
96$43,848,578$4,592,683$1,787,460$22,639,520
97$48,222,111$4,718,703$1,748,318$24,735,722
98$53,038,625$4,847,778$1,704,745$27,041,333
99$58,343,206$4,979,960$1,656,495$29,577,656
100$64,185,535$5,115,301$1,603,310$32,368,167