Can I retire at age 60 with 1,720,000?

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 $1,720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$142,036$140,771$139,536$138,332$137,155$133,353
2 years$70,315$69,005$67,736$66,506$65,312$61,510
3 years$46,411$45,096$43,830$42,611$41,437$37,753
4 years$34,461$33,150$31,897$30,699$29,553$26,017
5 years$27,293$25,990$24,753$23,580$22,466$19,087
6 years$22,516$21,223$20,004$18,857$17,776$14,557
7 years$19,106$17,823$16,624$15,503$14,457$11,398
8 years$16,549$15,278$14,098$13,005$11,993$9,093
9 years$14,561$13,302$12,143$11,078$10,100$7,356
10 years$12,972$11,725$10,586$9,549$8,606$6,014
11 years$11,672$10,438$9,320$8,310$7,401$4,957
12 years$10,590$9,369$8,271$7,289$6,414$4,113
13 years$9,675$8,466$7,390$6,435$5,593$3,431
14 years$8,892$7,696$6,640$5,713$4,903$2,874
15 years$8,213$7,030$5,995$5,095$4,317$2,416
16 years$7,620$6,450$5,435$4,562$3,815$2,037
17 years$7,098$5,940$4,946$4,099$3,383$1,722
18 years$6,633$5,489$4,515$3,694$3,008$1,458
19 years$6,219$5,087$4,133$3,338$2,681$1,237
20 years$5,846$4,727$3,793$3,023$2,395$1,050
21 years$5,509$4,403$3,489$2,743$2,143$893
22 years$5,203$4,110$3,216$2,494$1,921$760
23 years$4,924$3,844$2,969$2,272$1,724$648
24 years$4,669$3,602$2,746$2,072$1,550$552
25 years$4,434$3,380$2,543$1,892$1,395$471
26 years$4,218$3,177$2,359$1,730$1,256$402
27 years$4,019$2,990$2,190$1,584$1,133$344
28 years$3,834$2,817$2,036$1,451$1,022$293
29 years$3,661$2,658$1,895$1,331$923$251
30 years$3,501$2,510$1,765$1,221$834$214
31 years$3,352$2,373$1,645$1,121$754$183
32 years$3,212$2,245$1,535$1,031$682$157
33 years$3,080$2,126$1,433$948$617$134
34 years$2,957$2,015$1,339$872$559$115
35 years$2,841$1,911$1,252$803$506$98
36 years$2,732$1,814$1,171$739$459$84
37 years$2,629$1,723$1,096$681$416$72
38 years$2,531$1,637$1,027$628$377$61
39 years$2,439$1,557$962$579$342$53
40 years$2,352$1,481$902$534$310$45
41 years$2,269$1,410$845$493$281$39
42 years$2,190$1,343$793$455$255$33
43 years$2,115$1,280$744$420$232$28
44 years$2,044$1,220$699$388$210$24
45 years$1,976$1,163$656$358$191$21
46 years$1,911$1,110$616$331$173$18
47 years$1,849$1,059$579$305$157$15
48 years$1,790$1,011$544$282$143$13
49 years$1,733$965$511$261$130$11
50 years$1,679$922$481$241$118$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,720,000, adding $4,366 every year, while hoping to spend $42,619 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: 55/39/6 Blend
59$1,720,000$1,720,000$1,720,000$1,720,000
60$1,899,944$1,808,784$1,782,124$2,001,709
61$2,048,391$1,852,068$1,796,478$2,114,131
62$2,210,553$1,896,044$1,809,886$2,231,350
63$2,387,781$1,940,702$1,822,269$2,357,919
64$2,581,567$1,986,029$1,833,547$2,494,733
65$2,793,551$2,032,009$1,843,635$2,642,774
66$3,025,540$2,078,624$1,852,444$2,803,125
67$3,279,525$2,125,856$1,859,880$2,976,978
68$3,557,695$2,173,682$1,865,845$3,165,646
69$3,862,464$2,222,076$1,870,235$3,370,574
70$4,196,489$2,271,012$1,872,941$3,593,356
71$4,562,696$2,320,456$1,873,850$3,835,744
72$4,964,308$2,370,376$1,872,841$4,099,672
73$5,404,876$2,420,732$1,869,789$4,387,267
74$5,888,308$2,471,484$1,864,563$4,700,875
75$6,418,914$2,522,584$1,857,024$5,043,078
76$7,001,436$2,573,984$1,847,027$5,416,723
77$7,641,101$2,625,627$1,834,421$5,824,945
78$8,343,665$2,677,455$1,819,046$6,271,201
79$9,115,471$2,729,403$1,800,736$6,759,296
80$9,963,505$2,781,399$1,779,316$7,293,426
81$10,895,463$2,833,369$1,754,604$7,878,214
82$11,919,825$2,885,228$1,726,408$8,518,753
83$13,045,932$2,936,890$1,694,528$9,220,656
84$14,284,077$2,988,256$1,658,754$9,990,110
85$15,645,596$3,039,225$1,618,866$10,833,930
86$17,142,984$3,089,684$1,574,635$11,759,630
87$18,790,004$3,139,514$1,525,821$12,775,487
88$20,601,821$3,188,587$1,472,172$13,890,626
89$22,595,143$3,236,763$1,413,426$15,115,100
90$24,788,380$3,283,897$1,349,308$16,459,990
91$27,201,815$3,329,829$1,279,531$17,937,509
92$29,857,800$3,374,390$1,203,794$19,561,115
93$32,780,958$3,417,398$1,121,784$21,345,639
94$35,998,426$3,458,660$1,033,174$23,307,430
95$39,540,100$3,497,969$937,620$25,464,502
96$43,438,924$3,535,104$834,764$27,836,710
97$47,731,199$3,569,829$724,234$30,445,937
98$52,456,924$3,601,893$605,638$33,316,299
99$57,660,173$3,631,028$478,569$36,474,376
100$63,389,511$3,656,949$342,602$39,949,459