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%11.7%
1 years$135,430$134,223$133,046$131,898$130,776$129,843
2 years$67,044$65,796$64,586$63,412$62,274$61,333
3 years$44,252$42,998$41,791$40,629$39,509$38,590
4 years$32,858$31,608$30,413$29,271$28,178$27,287
5 years$26,024$24,781$23,602$22,483$21,421$20,561
6 years$21,469$20,236$19,074$17,980$16,950$16,122
7 years$18,217$16,994$15,850$14,782$13,784$12,989
8 years$15,779$14,567$13,442$12,400$11,436$10,673
9 years$13,884$12,683$11,578$10,562$9,630$8,900
10 years$12,368$11,180$10,094$9,105$8,206$7,507
11 years$11,129$9,953$8,887$7,924$7,057$6,390
12 years$10,098$8,933$7,887$6,950$6,116$5,479
13 years$9,225$8,073$7,046$6,136$5,333$4,727
14 years$8,478$7,338$6,331$5,447$4,675$4,098
15 years$7,831$6,703$5,716$4,858$4,116$3,568
16 years$7,266$6,150$5,182$4,350$3,638$3,118
17 years$6,767$5,664$4,716$3,908$3,225$2,732
18 years$6,325$5,234$4,305$3,522$2,868$2,401
19 years$5,929$4,851$3,941$3,182$2,556$2,114
20 years$5,574$4,507$3,617$2,882$2,283$1,866
21 years$5,253$4,199$3,327$2,616$2,043$1,649
22 years$4,961$3,919$3,066$2,378$1,832$1,460
23 years$4,695$3,666$2,831$2,166$1,644$1,294
24 years$4,452$3,434$2,618$1,976$1,478$1,148
25 years$4,228$3,223$2,425$1,804$1,330$1,020
26 years$4,022$3,029$2,249$1,650$1,198$907
27 years$3,832$2,851$2,088$1,510$1,080$807
28 years$3,655$2,686$1,941$1,383$974$718
29 years$3,491$2,534$1,807$1,269$880$640
30 years$3,338$2,393$1,683$1,164$795$570
31 years$3,196$2,262$1,569$1,069$719$508
32 years$3,062$2,141$1,464$983$650$454
33 years$2,937$2,027$1,367$904$588$405
34 years$2,819$1,921$1,277$831$533$361
35 years$2,709$1,822$1,194$765$483$323
36 years$2,605$1,730$1,117$705$437$288
37 years$2,506$1,643$1,045$650$396$258
38 years$2,413$1,561$979$599$359$230
39 years$2,325$1,485$917$552$326$206
40 years$2,242$1,412$860$509$295$184
41 years$2,163$1,345$806$470$268$164
42 years$2,088$1,281$756$434$243$147
43 years$2,017$1,220$710$400$221$132
44 years$1,949$1,163$666$370$200$118
45 years$1,884$1,109$625$341$182$105
46 years$1,822$1,058$587$315$165$94
47 years$1,763$1,010$552$291$150$84
48 years$1,707$964$519$269$136$75
49 years$1,653$920$487$249$124$67
50 years$1,601$879$458$230$112$60

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 $4,556 every year, while hoping to spend $20,764 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: 61/31/8 Blend
59$1,640,000$1,640,000$1,640,000$1,640,000
60$1,811,980$1,725,060$1,699,640$1,919,171
61$1,974,709$1,787,495$1,734,485$2,053,891
62$2,153,340$1,852,293$1,769,801$2,198,018
63$2,349,475$1,919,549$1,805,583$2,354,750
64$2,564,874$1,989,360$1,841,823$2,525,303
65$2,801,480$2,061,828$1,878,514$2,711,016
66$3,061,433$2,137,059$1,915,645$2,913,358
67$3,347,088$2,215,164$1,953,208$3,133,951
68$3,661,041$2,296,257$1,991,191$3,374,575
69$4,006,153$2,380,460$2,029,582$3,637,192
70$4,385,575$2,467,896$2,068,367$3,923,958
71$4,802,778$2,558,697$2,107,531$4,237,249
72$5,261,586$2,652,998$2,147,058$4,579,679
73$5,766,214$2,750,941$2,186,931$4,954,125
74$6,321,304$2,852,674$2,227,130$5,363,755
75$6,931,972$2,958,350$2,267,633$5,812,055
76$7,603,854$3,068,130$2,308,420$6,302,865
77$8,343,159$3,182,180$2,349,464$6,840,412
78$9,156,731$3,300,677$2,390,741$7,429,349
79$10,052,108$3,423,800$2,432,221$8,074,802
80$11,037,597$3,551,741$2,473,875$8,782,414
81$12,122,352$3,684,696$2,515,669$9,558,399
82$13,316,457$3,822,871$2,557,569$10,409,602
83$14,631,026$3,966,483$2,599,539$11,343,560
84$16,078,305$4,115,754$2,641,537$12,368,574
85$17,671,786$4,270,920$2,683,523$13,493,787
86$19,426,337$4,432,224$2,725,450$14,729,269
87$21,358,341$4,599,921$2,767,270$16,086,113
88$23,485,851$4,774,276$2,808,932$17,576,536
89$25,828,759$4,955,567$2,850,383$19,213,995
90$28,408,985$5,144,082$2,891,564$21,013,316
91$31,250,684$5,340,125$2,932,413$22,990,828
92$34,380,471$5,544,008$2,972,867$25,164,521
93$37,827,677$5,756,062$3,012,855$27,554,211
94$41,624,620$5,976,629$3,052,306$30,181,731
95$45,806,914$6,206,067$3,091,141$33,071,130
96$50,413,805$6,444,750$3,129,280$36,248,905
97$55,488,539$6,693,068$3,166,636$39,744,246
98$61,078,769$6,951,428$3,203,118$43,589,313
99$67,237,011$7,220,256$3,238,630$47,819,538
100$74,021,132$7,499,994$3,273,070$52,473,957