Can I retire at age 60 with 1,660,000?

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 $1,660,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$137,081$135,860$134,669$133,506$132,371$129,592
2 years$67,862$66,598$65,373$64,186$63,034$60,247
3 years$44,792$43,523$42,301$41,124$39,991$37,284
4 years$33,259$31,994$30,784$29,628$28,522$25,915
5 years$26,341$25,083$23,890$22,757$21,682$19,183
6 years$21,731$20,483$19,306$18,199$17,156$14,767
7 years$18,439$17,201$16,044$14,962$13,953$11,674
8 years$15,971$14,745$13,606$12,552$11,575$9,406
9 years$14,053$12,838$11,719$10,691$9,748$7,687
10 years$12,519$11,316$10,217$9,216$8,306$6,352
11 years$11,265$10,074$8,995$8,021$7,143$5,293
12 years$10,221$9,042$7,983$7,035$6,190$4,441
13 years$9,338$8,171$7,132$6,211$5,398$3,747
14 years$8,582$7,427$6,408$5,513$4,732$3,175
15 years$7,927$6,785$5,786$4,917$4,166$2,701
16 years$7,354$6,225$5,246$4,403$3,682$2,305
17 years$6,850$5,733$4,773$3,956$3,265$1,972
18 years$6,402$5,298$4,357$3,565$2,903$1,691
19 years$6,002$4,910$3,989$3,221$2,587$1,453
20 years$5,642$4,562$3,661$2,917$2,311$1,250
21 years$5,317$4,250$3,367$2,648$2,068$1,077
22 years$5,021$3,967$3,104$2,407$1,854$929
23 years$4,752$3,710$2,866$2,192$1,664$802
24 years$4,506$3,476$2,650$2,000$1,496$693
25 years$4,280$3,262$2,455$1,826$1,346$599
26 years$4,071$3,066$2,276$1,670$1,212$519
27 years$3,878$2,885$2,114$1,528$1,093$449
28 years$3,700$2,719$1,965$1,400$986$389
29 years$3,534$2,565$1,829$1,284$891$337
30 years$3,379$2,422$1,703$1,179$805$292
31 years$3,235$2,290$1,588$1,082$728$253
32 years$3,099$2,167$1,482$995$658$220
33 years$2,973$2,052$1,383$915$596$191
34 years$2,854$1,945$1,293$842$539$165
35 years$2,742$1,845$1,208$775$488$144
36 years$2,636$1,751$1,131$714$443$125
37 years$2,537$1,663$1,058$657$401$108
38 years$2,443$1,580$991$606$364$94
39 years$2,354$1,503$928$559$330$82
40 years$2,269$1,430$870$515$299$71
41 years$2,189$1,361$816$475$271$61
42 years$2,113$1,296$765$439$246$53
43 years$2,041$1,235$718$405$223$46
44 years$1,972$1,177$674$374$203$40
45 years$1,907$1,123$633$345$184$35
46 years$1,844$1,071$595$319$167$30
47 years$1,785$1,022$559$295$152$26
48 years$1,727$976$525$272$138$23
49 years$1,673$932$493$252$125$20
50 years$1,621$890$464$233$114$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,660,000, adding $4,934 every year, while hoping to spend $20,757 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: 24/50/26 Blend
59$1,660,000$1,660,000$1,660,000$1,660,000
60$1,834,409$1,746,429$1,720,699$1,863,242
61$1,999,434$1,809,919$1,756,258$1,951,311
62$2,180,595$1,875,824$1,792,311$2,043,520
63$2,379,517$1,944,241$1,828,855$2,141,876
64$2,597,989$2,015,270$1,865,883$2,246,905
65$2,837,982$2,089,016$1,903,388$2,359,180
66$3,101,666$2,165,588$1,941,361$2,479,331
67$3,391,434$2,245,099$1,979,795$2,608,046
68$3,709,920$2,327,669$2,018,678$2,746,084
69$4,060,027$2,413,420$2,057,999$2,894,273
70$4,444,954$2,502,482$2,097,745$3,053,523
71$4,868,223$2,594,987$2,137,904$3,224,832
72$5,333,717$2,691,077$2,178,459$3,409,298
73$5,845,714$2,790,897$2,219,395$3,608,122
74$6,408,924$2,894,599$2,260,692$3,822,627
75$7,028,541$3,002,340$2,302,332$4,054,262
76$7,710,284$3,114,288$2,344,292$4,304,623
77$8,460,458$3,230,612$2,386,551$4,575,461
78$9,286,007$3,351,494$2,429,082$4,868,699
79$10,194,583$3,477,121$2,471,860$5,186,453
80$11,194,618$3,607,688$2,514,855$5,531,048
81$12,295,402$3,743,398$2,558,036$5,905,039
82$13,507,173$3,884,464$2,601,370$6,311,237
83$14,841,210$4,031,108$2,644,821$6,752,730
84$16,309,943$4,183,562$2,688,352$7,232,919
85$17,927,067$4,342,066$2,731,921$7,755,541
86$19,707,673$4,506,872$2,775,486$8,324,707
87$21,668,390$4,678,243$2,818,999$8,944,941
88$23,827,542$4,856,454$2,862,412$9,621,220
89$26,205,320$5,041,789$2,905,671$10,359,020
90$28,823,974$5,234,548$2,948,723$11,164,368
91$31,708,020$5,435,041$2,991,506$12,043,894
92$34,884,475$5,643,596$3,033,958$13,004,899
93$38,383,109$5,860,549$3,076,014$14,055,416
94$42,236,727$6,086,257$3,117,601$15,204,287
95$46,481,478$6,321,088$3,158,645$16,461,249
96$51,157,196$6,565,429$3,199,067$17,837,017
97$56,307,778$6,819,683$3,238,784$19,343,390
98$61,981,595$7,084,271$3,277,706$20,993,359
99$68,231,949$7,359,632$3,315,741$22,801,226
100$75,117,578$7,646,224$3,352,789$24,782,741