Can I retire at age 60 with 1,600,000?

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 $1,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$132,127$130,950$129,801$128,681$127,586$126,942
2 years$65,409$64,191$63,010$61,866$60,755$60,105
3 years$43,173$41,950$40,772$39,638$38,546$37,910
4 years$32,057$30,837$29,671$28,557$27,491$26,874
5 years$25,389$24,177$23,026$21,934$20,898$20,302
6 years$20,945$19,742$18,609$17,541$16,536$15,962
7 years$17,773$16,579$15,464$14,422$13,448$12,896
8 years$15,394$14,212$13,115$12,098$11,157$10,626
9 years$13,545$12,374$11,296$10,305$9,396$8,887
10 years$12,067$10,907$9,848$8,883$8,005$7,519
11 years$10,858$9,710$8,670$7,731$6,885$6,419
12 years$9,851$8,715$7,694$6,781$5,966$5,522
13 years$9,000$7,876$6,874$5,986$5,203$4,779
14 years$8,271$7,159$6,177$5,314$4,561$4,157
15 years$7,640$6,540$5,577$4,739$4,016$3,631
16 years$7,089$6,000$5,056$4,243$3,549$3,183
17 years$6,602$5,526$4,601$3,813$3,147$2,800
18 years$6,171$5,106$4,200$3,436$2,798$2,469
19 years$5,785$4,732$3,845$3,105$2,494$2,182
20 years$5,438$4,398$3,529$2,812$2,228$1,932
21 years$5,124$4,096$3,246$2,552$1,993$1,714
22 years$4,840$3,824$2,991$2,320$1,787$1,523
23 years$4,581$3,576$2,762$2,113$1,604$1,355
24 years$4,343$3,351$2,554$1,927$1,442$1,207
25 years$4,125$3,144$2,366$1,760$1,297$1,076
26 years$3,924$2,955$2,194$1,609$1,169$960
27 years$3,738$2,781$2,038$1,473$1,054$858
28 years$3,566$2,621$1,894$1,350$951$767
29 years$3,406$2,472$1,763$1,238$858$686
30 years$3,257$2,335$1,642$1,136$776$614
31 years$3,118$2,207$1,531$1,043$701$550
32 years$2,987$2,088$1,428$959$634$492
33 years$2,865$1,978$1,333$882$574$441
34 years$2,751$1,875$1,246$811$520$396
35 years$2,643$1,778$1,165$747$471$355
36 years$2,541$1,688$1,090$688$427$318
37 years$2,445$1,603$1,020$634$387$285
38 years$2,355$1,523$955$584$350$256
39 years$2,269$1,448$895$539$318$230
40 years$2,187$1,378$839$497$288$206
41 years$2,110$1,312$786$458$262$185
42 years$2,037$1,249$738$423$237$167
43 years$1,967$1,190$692$390$215$150
44 years$1,901$1,135$650$361$195$134
45 years$1,838$1,082$610$333$177$121
46 years$1,778$1,032$573$308$161$108
47 years$1,720$985$538$284$146$97
48 years$1,665$940$506$263$133$88
49 years$1,612$898$476$243$121$79
50 years$1,562$858$447$224$110$71

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,600,000, adding $2,233 every year, while hoping to spend $46,301 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: 56/37/7 Blend
59$1,600,000$1,600,000$1,600,000$1,600,000
60$1,765,503$1,680,703$1,655,903$1,861,476
61$1,896,321$1,713,794$1,662,112$1,959,500
62$2,038,930$1,746,954$1,666,977$2,060,850
63$2,194,484$1,780,138$1,670,405$2,170,098
64$2,364,254$1,813,298$1,672,296$2,288,001
65$2,549,637$1,846,379$1,672,547$2,415,395
66$2,752,173$1,879,324$1,671,050$2,553,199
67$2,973,555$1,912,071$1,667,690$2,702,426
68$3,215,649$1,944,554$1,662,349$2,864,193
69$3,480,508$1,976,700$1,654,901$3,039,731
70$3,770,394$2,008,433$1,645,215$3,230,395
71$4,087,798$2,039,669$1,633,152$3,437,681
72$4,435,460$2,070,319$1,618,570$3,663,236
73$4,816,401$2,100,289$1,601,316$3,908,876
74$5,233,946$2,129,476$1,581,233$4,176,602
75$5,691,759$2,157,771$1,558,154$4,468,619
76$6,193,873$2,185,056$1,531,907$4,787,361
77$6,744,732$2,211,207$1,502,309$5,135,508
78$7,349,229$2,236,091$1,469,171$5,516,014
79$8,012,756$2,259,565$1,432,294$5,932,137
80$8,741,251$2,281,478$1,391,470$6,387,467
81$9,541,254$2,301,666$1,346,480$6,885,964
82$10,419,973$2,319,958$1,297,098$7,431,990
83$11,385,345$2,336,171$1,243,085$8,030,356
84$12,446,114$2,350,107$1,184,192$8,686,364
85$13,611,915$2,361,560$1,120,160$9,405,862
86$14,893,360$2,370,307$1,050,716$10,195,292
87$16,302,144$2,376,113$975,576$11,061,760
88$17,851,148$2,378,728$894,443$12,013,096
89$19,554,566$2,377,885$807,007$13,057,935
90$21,428,033$2,373,304$712,944$14,205,793
91$23,488,780$2,364,683$611,915$15,467,162
92$25,755,789$2,351,706$503,567$16,853,608
93$28,249,973$2,334,033$387,531$18,377,881
94$30,994,378$2,311,308$263,421$20,054,034
95$34,014,394$2,283,152$130,834$21,897,560
96$37,337,997$2,249,161$0$23,925,539
97$40,996,012$2,208,910$0$26,157,593
98$45,022,406$2,161,947$0$28,624,158
99$49,454,603$2,107,794$0$31,338,363
100$54,333,842$2,045,945$0$34,325,460