Can I retire at age 60 with 1,710,000?

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 $1,710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$141,210$139,952$138,725$137,527$136,358$134,598
2 years$69,906$68,604$67,342$66,119$64,932$63,162
3 years$46,141$44,834$43,575$42,363$41,196$39,470
4 years$34,261$32,957$31,711$30,520$29,381$27,713
5 years$27,135$25,839$24,609$23,442$22,335$20,729
6 years$22,385$21,099$19,888$18,747$17,673$16,132
7 years$18,994$17,719$16,527$15,413$14,373$12,897
8 years$16,452$15,189$14,016$12,930$11,924$10,512
9 years$14,476$13,225$12,072$11,013$10,041$8,694
10 years$12,896$11,657$10,525$9,493$8,556$7,272
11 years$11,604$10,377$9,266$8,262$7,358$6,136
12 years$10,529$9,314$8,223$7,247$6,377$5,215
13 years$9,619$8,417$7,347$6,398$5,560$4,459
14 years$8,840$7,651$6,601$5,679$4,874$3,830
15 years$8,166$6,989$5,960$5,065$4,292$3,303
16 years$7,576$6,413$5,404$4,535$3,793$2,859
17 years$7,056$5,906$4,917$4,075$3,363$2,481
18 years$6,595$5,457$4,489$3,672$2,990$2,158
19 years$6,182$5,058$4,109$3,318$2,665$1,882
20 years$5,812$4,700$3,771$3,005$2,381$1,643
21 years$5,477$4,378$3,469$2,727$2,131$1,438
22 years$5,173$4,086$3,197$2,480$1,910$1,259
23 years$4,895$3,822$2,952$2,258$1,714$1,104
24 years$4,642$3,581$2,730$2,060$1,541$969
25 years$4,409$3,361$2,529$1,881$1,386$852
26 years$4,194$3,158$2,345$1,720$1,249$749
27 years$3,995$2,972$2,178$1,574$1,126$659
28 years$3,811$2,801$2,024$1,443$1,016$580
29 years$3,640$2,642$1,884$1,323$917$511
30 years$3,481$2,495$1,755$1,214$829$450
31 years$3,332$2,359$1,636$1,115$749$397
32 years$3,193$2,232$1,526$1,025$678$350
33 years$3,062$2,114$1,425$942$614$309
34 years$2,940$2,003$1,332$867$555$272
35 years$2,825$1,900$1,245$798$503$240
36 years$2,716$1,804$1,165$735$456$212
37 years$2,613$1,713$1,090$677$413$187
38 years$2,516$1,628$1,021$624$375$165
39 years$2,425$1,548$956$576$340$146
40 years$2,338$1,473$896$531$308$129
41 years$2,255$1,402$841$490$280$114
42 years$2,177$1,335$788$452$254$101
43 years$2,103$1,272$740$417$230$89
44 years$2,032$1,213$694$385$209$79
45 years$1,964$1,156$652$356$190$70
46 years$1,900$1,103$612$329$172$61
47 years$1,838$1,053$575$304$156$54
48 years$1,780$1,005$541$281$142$48
49 years$1,723$960$508$259$129$42
50 years$1,670$917$478$240$117$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,710,000, adding $5,985 every year, while hoping to spend $42,986 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: 66/29/5 Blend
59$1,710,000$1,710,000$1,710,000$1,710,000
60$1,890,594$1,799,964$1,773,459$2,013,763
61$2,037,697$1,842,425$1,787,133$2,138,698
62$2,198,365$1,885,526$1,799,824$2,269,442
63$2,373,935$1,929,254$1,811,455$2,411,164
64$2,565,879$1,973,590$1,821,942$2,564,927
65$2,775,821$2,018,519$1,831,199$2,731,899
66$3,005,547$2,064,018$1,839,136$2,913,370
67$3,257,021$2,110,063$1,845,656$3,110,757
68$3,532,411$2,156,630$1,850,659$3,325,623
69$3,834,101$2,203,688$1,854,040$3,559,687
70$4,164,716$2,251,206$1,855,687$3,814,844
71$4,527,150$2,299,148$1,855,485$4,093,182
72$4,924,587$2,347,474$1,853,312$4,396,998
73$5,360,536$2,396,142$1,849,039$4,728,826
74$5,838,862$2,445,104$1,842,533$5,091,455
75$6,363,821$2,494,310$1,833,653$5,487,957
76$6,940,102$2,543,702$1,822,252$5,921,719
77$7,572,870$2,593,220$1,808,174$6,396,471
78$8,267,813$2,642,798$1,791,259$6,916,322
79$9,031,199$2,692,365$1,771,335$7,485,801
80$9,869,934$2,741,843$1,748,227$8,109,896
81$10,791,622$2,791,148$1,721,747$8,794,105
82$11,804,643$2,840,190$1,691,702$9,544,485
83$12,918,229$2,888,872$1,657,886$10,367,710
84$14,142,550$2,937,089$1,620,088$11,271,136
85$15,488,812$2,984,728$1,578,082$12,262,865
86$16,969,361$3,031,669$1,531,637$13,351,830
87$18,597,796$3,077,782$1,480,508$14,547,870
88$20,389,106$3,122,927$1,424,439$15,861,830
89$22,359,800$3,166,956$1,363,164$17,305,660
90$24,528,072$3,209,709$1,296,402$18,892,529
91$26,913,966$3,251,016$1,223,862$20,636,950
92$29,539,569$3,290,694$1,145,240$22,554,914
93$32,429,214$3,328,547$1,060,215$24,664,047
94$35,609,717$3,364,369$968,455$26,983,769
95$39,110,622$3,397,937$869,612$29,535,485
96$42,964,484$3,429,014$763,322$32,342,781
97$47,207,173$3,457,348$649,206$35,431,652
98$51,878,217$3,482,670$526,866$38,830,743
99$57,021,169$3,504,695$395,890$42,571,624
100$62,684,020$3,523,117$255,844$46,689,085