Can I retire at age 60 with 1,640,000?

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 $1,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$135,430$134,223$133,046$131,898$130,776$126,640
2 years$67,044$65,796$64,586$63,412$62,274$58,145
3 years$44,252$42,998$41,791$40,629$39,509$35,516
4 years$32,858$31,608$30,413$29,271$28,178$24,352
5 years$26,024$24,781$23,602$22,483$21,421$17,771
6 years$21,469$20,236$19,074$17,980$16,950$13,480
7 years$18,217$16,994$15,850$14,782$13,784$10,495
8 years$15,779$14,567$13,442$12,400$11,436$8,324
9 years$13,884$12,683$11,578$10,562$9,630$6,692
10 years$12,368$11,180$10,094$9,105$8,206$5,437
11 years$11,129$9,953$8,887$7,924$7,057$4,453
12 years$10,098$8,933$7,887$6,950$6,116$3,671
13 years$9,225$8,073$7,046$6,136$5,333$3,041
14 years$8,478$7,338$6,331$5,447$4,675$2,530
15 years$7,831$6,703$5,716$4,858$4,116$2,112
16 years$7,266$6,150$5,182$4,350$3,638$1,768
17 years$6,767$5,664$4,716$3,908$3,225$1,483
18 years$6,325$5,234$4,305$3,522$2,868$1,247
19 years$5,929$4,851$3,941$3,182$2,556$1,050
20 years$5,574$4,507$3,617$2,882$2,283$885
21 years$5,253$4,199$3,327$2,616$2,043$747
22 years$4,961$3,919$3,066$2,378$1,832$631
23 years$4,695$3,666$2,831$2,166$1,644$533
24 years$4,452$3,434$2,618$1,976$1,478$451
25 years$4,228$3,223$2,425$1,804$1,330$382
26 years$4,022$3,029$2,249$1,650$1,198$323
27 years$3,832$2,851$2,088$1,510$1,080$274
28 years$3,655$2,686$1,941$1,383$974$232
29 years$3,491$2,534$1,807$1,269$880$197
30 years$3,338$2,393$1,683$1,164$795$167
31 years$3,196$2,262$1,569$1,069$719$141
32 years$3,062$2,141$1,464$983$650$120
33 years$2,937$2,027$1,367$904$588$102
34 years$2,819$1,921$1,277$831$533$86
35 years$2,709$1,822$1,194$765$483$73
36 years$2,605$1,730$1,117$705$437$62
37 years$2,506$1,643$1,045$650$396$53
38 years$2,413$1,561$979$599$359$45
39 years$2,325$1,485$917$552$326$38
40 years$2,242$1,412$860$509$295$32
41 years$2,163$1,345$806$470$268$27
42 years$2,088$1,281$756$434$243$23
43 years$2,017$1,220$710$400$221$20
44 years$1,949$1,163$666$370$200$17
45 years$1,884$1,109$625$341$182$14
46 years$1,822$1,058$587$315$165$12
47 years$1,763$1,010$552$291$150$10
48 years$1,707$964$519$269$136$9
49 years$1,653$920$487$249$124$7
50 years$1,601$879$458$230$112$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,640,000, adding $3,871 every year, while hoping to spend $57,355 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: 47/39/14 Blend
59$1,640,000$1,640,000$1,640,000$1,640,000
60$1,811,273$1,724,353$1,698,933$1,889,113
61$1,934,998$1,747,821$1,694,822$1,966,865
62$2,069,420$1,770,517$1,688,651$2,045,018
63$2,215,570$1,792,342$1,680,290$2,128,576
64$2,374,582$1,813,191$1,669,604$2,218,065
65$2,547,704$1,832,951$1,656,451$2,314,065
66$2,736,309$1,851,504$1,640,680$2,417,215
67$2,941,906$1,868,722$1,622,136$2,528,224
68$3,166,158$1,884,467$1,600,656$2,647,873
69$3,410,896$1,898,596$1,576,068$2,777,026
70$3,678,134$1,910,953$1,548,192$2,916,638
71$3,970,088$1,921,375$1,516,842$3,067,763
72$4,289,201$1,929,686$1,481,819$3,231,565
73$4,638,159$1,935,700$1,442,920$3,409,330
74$5,019,922$1,939,220$1,399,929$3,602,481
75$5,437,748$1,940,036$1,352,620$3,812,584
76$5,895,225$1,937,924$1,300,759$4,041,375
77$6,396,303$1,932,648$1,244,100$4,290,767
78$6,945,334$1,923,956$1,182,386$4,562,873
79$7,547,110$1,911,581$1,115,347$4,860,027
80$8,206,906$1,895,240$1,042,703$5,184,807
81$8,930,537$1,874,633$964,160$5,540,059
82$9,724,404$1,849,442$879,411$5,928,922
83$10,595,559$1,819,330$788,137$6,354,867
84$11,551,768$1,783,939$690,001$6,821,721
85$12,601,587$1,742,891$584,655$7,333,710
86$13,754,441$1,695,785$471,734$7,895,499
87$15,020,713$1,642,197$350,855$8,512,238
88$16,411,838$1,581,678$221,622$9,189,609
89$17,940,418$1,513,752$83,618$9,933,883
90$19,620,331$1,437,917$0$10,751,982
91$21,466,871$1,353,641$0$11,661,051
92$23,496,883$1,260,360$0$12,673,958
93$25,728,929$1,157,482$0$13,787,569
94$28,183,458$1,044,376$0$15,012,216
95$30,882,999$920,379$0$16,359,298
96$33,852,375$784,788$0$17,841,383
97$37,118,936$636,862$0$19,472,332
98$40,712,816$475,816$0$21,267,432
99$44,667,215$300,823$0$23,243,540
100$49,018,716$111,008$0$25,419,246