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%19.5%
1 years$142,036$140,771$139,536$138,332$137,155$131,922
2 years$70,315$69,005$67,736$66,506$65,312$60,101
3 years$46,411$45,096$43,830$42,611$41,437$36,412
4 years$34,461$33,150$31,897$30,699$29,553$24,753
5 years$27,293$25,990$24,753$23,580$22,466$17,903
6 years$22,516$21,223$20,004$18,857$17,776$13,454
7 years$19,106$17,823$16,624$15,503$14,457$10,373
8 years$16,549$15,278$14,098$13,005$11,993$8,144
9 years$14,561$13,302$12,143$11,078$10,100$6,481
10 years$12,972$11,725$10,586$9,549$8,606$5,209
11 years$11,672$10,438$9,320$8,310$7,401$4,220
12 years$10,590$9,369$8,271$7,289$6,414$3,439
13 years$9,675$8,466$7,390$6,435$5,593$2,816
14 years$8,892$7,696$6,640$5,713$4,903$2,315
15 years$8,213$7,030$5,995$5,095$4,317$1,910
16 years$7,620$6,450$5,435$4,562$3,815$1,579
17 years$7,098$5,940$4,946$4,099$3,383$1,308
18 years$6,633$5,489$4,515$3,694$3,008$1,086
19 years$6,219$5,087$4,133$3,338$2,681$902
20 years$5,846$4,727$3,793$3,023$2,395$751
21 years$5,509$4,403$3,489$2,743$2,143$625
22 years$5,203$4,110$3,216$2,494$1,921$521
23 years$4,924$3,844$2,969$2,272$1,724$435
24 years$4,669$3,602$2,746$2,072$1,550$363
25 years$4,434$3,380$2,543$1,892$1,395$303
26 years$4,218$3,177$2,359$1,730$1,256$253
27 years$4,019$2,990$2,190$1,584$1,133$211
28 years$3,834$2,817$2,036$1,451$1,022$177
29 years$3,661$2,658$1,895$1,331$923$148
30 years$3,501$2,510$1,765$1,221$834$123
31 years$3,352$2,373$1,645$1,121$754$103
32 years$3,212$2,245$1,535$1,031$682$86
33 years$3,080$2,126$1,433$948$617$72
34 years$2,957$2,015$1,339$872$559$60
35 years$2,841$1,911$1,252$803$506$51
36 years$2,732$1,814$1,171$739$459$42
37 years$2,629$1,723$1,096$681$416$35
38 years$2,531$1,637$1,027$628$377$30
39 years$2,439$1,557$962$579$342$25
40 years$2,352$1,481$902$534$310$21
41 years$2,269$1,410$845$493$281$17
42 years$2,190$1,343$793$455$255$14
43 years$2,115$1,280$744$420$232$12
44 years$2,044$1,220$699$388$210$10
45 years$1,976$1,163$656$358$191$8
46 years$1,911$1,110$616$331$173$7
47 years$1,849$1,059$579$305$157$6
48 years$1,790$1,011$544$282$143$5
49 years$1,733$965$511$261$130$4
50 years$1,679$922$481$241$118$3

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 $3,362 every year, while hoping to spend $51,539 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: 49/32/19 Blend
59$1,720,000$1,720,000$1,720,000$1,720,000
60$1,898,908$1,807,748$1,781,088$1,981,691
61$2,037,759$1,841,490$1,785,917$2,073,142
62$2,189,046$1,875,159$1,789,181$2,166,901
63$2,353,983$1,908,696$1,790,772$2,267,662
64$2,533,905$1,942,037$1,790,579$2,376,103
65$2,730,283$1,975,117$1,788,483$2,492,973
66$2,944,737$2,007,863$1,784,362$2,619,097
67$3,179,047$2,040,195$1,778,086$2,755,386
68$3,435,177$2,072,032$1,769,518$2,902,845
69$3,715,286$2,103,282$1,758,518$3,062,583
70$4,021,751$2,133,849$1,744,935$3,235,821
71$4,357,193$2,163,631$1,728,613$3,423,910
72$4,724,495$2,192,517$1,709,390$3,628,336
73$5,126,831$2,220,388$1,687,092$3,850,743
74$5,567,700$2,247,119$1,661,542$4,092,939
75$6,050,952$2,272,575$1,632,550$4,356,924
76$6,580,829$2,296,611$1,599,921$4,644,900
77$7,162,004$2,319,075$1,563,448$4,959,299
78$7,799,620$2,339,802$1,522,916$5,302,803
79$8,499,347$2,358,618$1,478,099$5,678,368
80$9,267,428$2,375,337$1,428,762$6,089,258
81$10,110,738$2,389,762$1,374,659$6,539,071
82$11,036,855$2,401,681$1,315,531$7,031,777
83$12,054,122$2,410,871$1,251,110$7,571,755
84$13,171,733$2,417,095$1,181,112$8,163,832
85$14,399,815$2,420,098$1,105,245$8,813,336
86$15,749,526$2,419,612$1,023,200$9,526,141
87$17,233,156$2,415,351$934,656$10,308,724
88$18,864,247$2,407,013$839,276$11,168,232
89$20,657,719$2,394,275$736,711$12,112,542
90$22,630,009$2,376,797$626,593$13,150,345
91$24,799,226$2,354,217$508,540$14,291,224
92$27,185,324$2,326,150$382,153$15,545,745
93$29,810,286$2,292,190$247,013$16,925,560
94$32,698,333$2,251,905$102,687$18,443,521
95$35,876,154$2,204,840$0$20,113,794
96$39,373,155$2,150,510$0$21,962,411
97$43,221,736$2,088,404$0$24,019,084
98$47,457,596$2,017,978$0$26,282,067
99$52,120,071$1,938,660$0$28,772,408
100$57,252,506$1,849,842$0$31,513,308