Can I retire at age 60 with 1,610,000?

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 $1,610,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$132,952$131,768$130,613$129,485$128,384$124,976
2 years$65,818$64,592$63,404$62,252$61,135$57,726
3 years$43,443$42,212$41,027$39,886$38,787$35,482
4 years$32,257$31,030$29,857$28,735$27,663$24,489
5 years$25,548$24,328$23,170$22,072$21,029$17,994
6 years$21,076$19,866$18,725$17,651$16,639$13,747
7 years$17,884$16,683$15,561$14,512$13,532$10,782
8 years$15,490$14,300$13,197$12,173$11,226$8,617
9 years$13,630$12,451$11,366$10,369$9,454$6,983
10 years$12,142$10,975$9,909$8,938$8,055$5,720
11 years$10,926$9,770$8,724$7,779$6,928$4,724
12 years$9,913$8,769$7,742$6,823$6,004$3,927
13 years$9,056$7,925$6,917$6,024$5,235$3,283
14 years$8,323$7,204$6,215$5,347$4,589$2,756
15 years$7,688$6,581$5,611$4,769$4,041$2,321
16 years$7,133$6,038$5,088$4,270$3,571$1,961
17 years$6,644$5,560$4,630$3,837$3,166$1,661
18 years$6,209$5,138$4,226$3,458$2,815$1,410
19 years$5,821$4,762$3,869$3,124$2,509$1,199
20 years$5,472$4,425$3,551$2,830$2,242$1,020
21 years$5,157$4,122$3,266$2,568$2,006$870
22 years$4,870$3,847$3,010$2,335$1,798$742
23 years$4,609$3,598$2,779$2,126$1,614$634
24 years$4,370$3,372$2,570$1,939$1,451$542
25 years$4,151$3,164$2,381$1,771$1,305$463
26 years$3,949$2,974$2,208$1,619$1,176$396
27 years$3,762$2,799$2,050$1,482$1,060$339
28 years$3,588$2,637$1,906$1,358$957$291
29 years$3,427$2,488$1,774$1,245$864$249
30 years$3,277$2,349$1,652$1,143$780$213
31 years$3,137$2,221$1,540$1,050$706$183
32 years$3,006$2,102$1,437$965$638$157
33 years$2,883$1,990$1,342$887$578$134
34 years$2,768$1,886$1,254$816$523$115
35 years$2,659$1,789$1,172$751$474$99
36 years$2,557$1,698$1,096$692$429$85
37 years$2,461$1,613$1,026$638$389$73
38 years$2,369$1,533$961$588$353$62
39 years$2,283$1,457$900$542$320$54
40 years$2,201$1,387$844$500$290$46
41 years$2,123$1,320$791$461$263$39
42 years$2,050$1,257$742$426$239$34
43 years$1,980$1,198$697$393$217$29
44 years$1,913$1,142$654$363$197$25
45 years$1,849$1,089$614$335$179$21
46 years$1,789$1,039$577$309$162$18
47 years$1,731$991$542$286$147$16
48 years$1,675$946$509$264$134$14
49 years$1,623$904$479$244$121$12
50 years$1,572$863$450$226$110$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,610,000, adding $3,590 every year, while hoping to spend $36,066 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: 72/23/5 Blend
59$1,610,000$1,610,000$1,610,000$1,610,000
60$1,777,923$1,692,593$1,667,638$1,904,903
61$1,920,897$1,737,156$1,685,130$2,033,634
62$2,077,246$1,782,694$1,701,999$2,169,651
63$2,248,296$1,829,217$1,718,187$2,317,537
64$2,435,506$1,876,732$1,733,630$2,478,451
65$2,640,485$1,925,250$1,748,264$2,653,666
66$2,865,004$1,974,776$1,762,020$2,844,587
67$3,111,012$2,025,318$1,774,826$3,052,757
68$3,380,657$2,076,880$1,786,604$3,279,879
69$3,676,304$2,129,467$1,797,275$3,527,826
70$4,000,557$2,183,082$1,806,754$3,798,661
71$4,356,287$2,237,726$1,814,953$4,094,656
72$4,746,653$2,293,398$1,821,779$4,418,315
73$5,175,135$2,350,099$1,827,132$4,772,394
74$5,645,569$2,407,824$1,830,912$5,159,930
75$6,162,179$2,466,569$1,833,008$5,584,266
76$6,729,616$2,526,326$1,833,309$6,049,088
77$7,353,007$2,587,086$1,831,696$6,558,454
78$8,037,999$2,648,839$1,828,043$7,116,836
79$8,790,812$2,711,569$1,822,219$7,729,159
80$9,618,300$2,775,260$1,814,088$8,400,849
81$10,528,012$2,839,894$1,803,505$9,137,887
82$11,528,267$2,905,446$1,790,321$9,946,858
83$12,628,229$2,971,893$1,774,376$10,835,020
84$13,837,997$3,039,203$1,755,505$11,810,369
85$15,168,694$3,107,345$1,733,536$12,881,716
86$16,632,577$3,176,282$1,708,286$14,058,767
87$18,243,152$3,245,971$1,679,565$15,352,218
88$20,015,297$3,316,368$1,647,175$16,773,854
89$21,965,410$3,387,422$1,610,908$18,336,661
90$24,111,553$3,459,077$1,570,544$20,054,948
91$26,473,631$3,531,272$1,525,857$21,944,482
92$29,073,576$3,603,939$1,476,608$24,022,634
93$31,935,554$3,677,006$1,422,548$26,308,551
94$35,086,193$3,750,391$1,363,416$28,823,325
95$38,554,833$3,824,009$1,298,939$31,590,204
96$42,373,805$3,897,764$1,228,832$34,634,801
97$46,578,733$3,971,554$1,152,798$37,985,342
98$51,208,872$4,045,268$1,070,524$41,672,932
99$56,307,476$4,118,786$981,687$45,731,844
100$61,922,211$4,191,978$885,945$50,199,850