Can I retire at age 60 with 1,670,000?

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 $1,670,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$137,907$136,679$135,480$134,310$133,168$128,854
2 years$68,271$66,999$65,767$64,572$63,413$59,107
3 years$45,062$43,785$42,556$41,372$40,232$36,069
4 years$33,460$32,186$30,970$29,806$28,694$24,706
5 years$26,500$25,235$24,034$22,894$21,813$18,011
6 years$21,862$20,606$19,423$18,309$17,260$13,647
7 years$18,550$17,305$16,140$15,052$14,037$10,613
8 years$16,068$14,833$13,688$12,627$11,645$8,407
9 years$14,138$12,915$11,790$10,756$9,807$6,751
10 years$12,595$11,384$10,279$9,271$8,356$5,478
11 years$11,333$10,135$9,049$8,069$7,186$4,481
12 years$10,282$9,096$8,031$7,077$6,227$3,689
13 years$9,394$8,220$7,175$6,248$5,430$3,052
14 years$8,633$7,472$6,447$5,547$4,760$2,536
15 years$7,975$6,826$5,821$4,947$4,191$2,114
16 years$7,399$6,263$5,277$4,429$3,704$1,767
17 years$6,891$5,768$4,802$3,980$3,284$1,480
18 years$6,441$5,330$4,384$3,586$2,920$1,242
19 years$6,038$4,939$4,013$3,241$2,603$1,044
20 years$5,676$4,590$3,683$2,935$2,325$879
21 years$5,349$4,275$3,388$2,664$2,081$740
22 years$5,052$3,991$3,122$2,422$1,865$624
23 years$4,781$3,733$2,883$2,206$1,674$527
24 years$4,533$3,497$2,666$2,012$1,505$445
25 years$4,306$3,282$2,469$1,837$1,354$376
26 years$4,096$3,084$2,290$1,680$1,220$318
27 years$3,902$2,903$2,127$1,538$1,100$269
28 years$3,722$2,735$1,977$1,409$992$227
29 years$3,555$2,580$1,840$1,292$896$192
30 years$3,399$2,437$1,714$1,186$810$163
31 years$3,254$2,304$1,598$1,089$732$138
32 years$3,118$2,180$1,491$1,001$662$117
33 years$2,991$2,064$1,392$920$599$99
34 years$2,871$1,957$1,300$847$542$84
35 years$2,758$1,856$1,216$779$491$71
36 years$2,652$1,761$1,137$718$445$60
37 years$2,552$1,673$1,065$661$403$51
38 years$2,458$1,590$997$610$366$43
39 years$2,368$1,512$934$562$332$37
40 years$2,283$1,438$875$518$301$31
41 years$2,203$1,369$821$478$273$26
42 years$2,126$1,304$770$441$248$22
43 years$2,053$1,242$723$408$225$19
44 years$1,984$1,184$678$376$204$16
45 years$1,918$1,129$637$347$185$14
46 years$1,855$1,077$598$321$168$11
47 years$1,795$1,028$562$297$153$10
48 years$1,738$981$528$274$139$8
49 years$1,683$937$496$253$126$7
50 years$1,631$895$467$234$114$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,670,000, adding $5,540 every year, while hoping to spend $56,573 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: 56/27/17 Blend
59$1,670,000$1,670,000$1,670,000$1,670,000
60$1,846,055$1,757,545$1,731,660$1,940,836
61$1,974,159$1,783,471$1,729,477$2,031,863
62$2,113,434$1,808,772$1,725,325$2,124,393
63$2,264,959$1,833,356$1,719,078$2,223,917
64$2,429,922$1,857,128$1,710,605$2,331,116
65$2,609,631$1,879,984$1,699,767$2,446,746
66$2,805,523$1,901,813$1,686,419$2,571,635
67$3,019,182$1,922,498$1,670,410$2,706,703
68$3,252,351$1,941,912$1,651,580$2,852,960
69$3,506,946$1,959,922$1,629,764$3,011,523
70$3,785,081$1,976,384$1,604,787$3,183,625
71$4,089,079$1,991,147$1,576,467$3,370,624
72$4,421,499$2,004,047$1,544,613$3,574,021
73$4,785,159$2,014,912$1,509,024$3,795,470
74$5,183,161$2,023,559$1,469,493$4,036,798
75$5,618,922$2,029,791$1,425,799$4,300,019
76$6,096,203$2,033,403$1,377,715$4,587,356
77$6,619,148$2,034,171$1,325,000$4,901,261
78$7,192,318$2,031,864$1,267,405$5,244,440
79$7,820,740$2,026,230$1,204,669$5,619,878
80$8,509,947$2,017,007$1,136,517$6,030,867
81$9,266,036$2,003,914$1,062,664$6,481,041
82$10,095,719$1,986,654$982,811$6,974,405
83$11,006,394$1,964,911$896,647$7,515,380
84$12,006,206$1,938,352$803,844$8,108,842
85$13,104,129$1,906,621$704,063$8,760,169
86$14,310,050$1,869,345$596,949$9,475,293
87$15,634,857$1,826,125$482,128$10,260,756
88$17,090,548$1,776,540$359,215$11,123,776
89$18,690,338$1,720,146$227,804$12,072,311
90$20,448,789$1,656,469$87,471$13,115,138
91$22,381,941$1,585,011$0$14,261,940
92$24,507,466$1,505,244$0$15,534,690
93$26,844,836$1,416,610$0$16,951,530
94$29,415,503$1,318,517$0$18,509,647
95$32,243,101$1,210,341$0$20,223,450
96$35,353,671$1,091,422$0$22,108,821
97$38,775,906$961,062$0$24,183,269
98$42,541,417$818,523$0$26,466,093
99$46,685,038$663,026$0$28,978,567
100$51,245,146$493,749$0$31,744,143