Can I retire at age 60 with 1,740,000?

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 $1,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$143,688$142,408$141,159$139,940$138,750$138,165
2 years$71,132$69,808$68,524$67,279$66,071$65,481
3 years$46,951$45,620$44,339$43,106$41,918$41,341
4 years$34,862$33,536$32,268$31,056$29,897$29,336
5 years$27,611$26,292$25,041$23,854$22,727$22,185
6 years$22,778$21,470$20,237$19,076$17,983$17,461
7 years$19,328$18,030$16,817$15,683$14,625$14,123
8 years$16,741$15,455$14,262$13,156$12,133$11,650
9 years$14,730$13,457$12,284$11,206$10,218$9,755
10 years$13,122$11,861$10,709$9,660$8,706$8,262
11 years$11,808$10,559$9,428$8,407$7,487$7,063
12 years$10,713$9,478$8,367$7,374$6,488$6,083
13 years$9,788$8,565$7,476$6,510$5,658$5,271
14 years$8,995$7,785$6,717$5,779$4,960$4,591
15 years$8,309$7,112$6,065$5,154$4,367$4,016
16 years$7,709$6,525$5,498$4,615$3,860$3,526
17 years$7,180$6,009$5,003$4,146$3,422$3,105
18 years$6,711$5,553$4,567$3,737$3,043$2,742
19 years$6,291$5,146$4,181$3,376$2,712$2,427
20 years$5,914$4,782$3,837$3,058$2,423$2,152
21 years$5,573$4,455$3,530$2,775$2,168$1,912
22 years$5,263$4,158$3,253$2,523$1,943$1,701
23 years$4,981$3,889$3,004$2,298$1,744$1,516
24 years$4,723$3,644$2,778$2,096$1,568$1,352
25 years$4,486$3,419$2,573$1,914$1,411$1,208
26 years$4,267$3,214$2,386$1,750$1,271$1,079
27 years$4,065$3,025$2,216$1,602$1,146$966
28 years$3,878$2,850$2,060$1,468$1,034$865
29 years$3,704$2,689$1,917$1,346$934$774
30 years$3,542$2,539$1,786$1,235$843$694
31 years$3,391$2,400$1,665$1,135$763$623
32 years$3,249$2,271$1,553$1,043$690$559
33 years$3,116$2,151$1,450$959$624$501
34 years$2,991$2,039$1,355$882$565$450
35 years$2,874$1,934$1,267$812$512$404
36 years$2,764$1,835$1,185$748$464$363
37 years$2,659$1,743$1,109$689$420$327
38 years$2,561$1,656$1,039$635$381$294
39 years$2,467$1,575$973$586$346$264
40 years$2,379$1,499$912$540$313$237
41 years$2,295$1,427$855$498$284$214
42 years$2,215$1,359$802$460$258$192
43 years$2,139$1,294$753$425$234$173
44 years$2,067$1,234$707$392$213$156
45 years$1,999$1,177$664$362$193$140
46 years$1,933$1,122$623$334$175$126
47 years$1,871$1,071$585$309$159$113
48 years$1,811$1,023$550$286$145$102
49 years$1,754$977$517$264$131$92
50 years$1,699$933$486$244$119$83

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,740,000, adding $3,896 every year, while hoping to spend $41,311 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: 58/22/20 Blend
59$1,740,000$1,740,000$1,740,000$1,740,000
60$1,921,499$1,829,279$1,802,309$2,022,535
61$2,073,537$1,874,959$1,818,731$2,137,325
62$2,239,699$1,921,493$1,834,320$2,257,597
63$2,421,381$1,968,878$1,849,002$2,387,800
64$2,620,121$2,017,113$1,862,703$2,528,904
65$2,837,613$2,066,191$1,875,344$2,681,972
66$3,075,722$2,116,107$1,886,840$2,848,177
67$3,336,501$2,166,852$1,897,105$3,028,814
68$3,622,212$2,218,416$1,906,046$3,225,305
69$3,935,346$2,270,786$1,913,566$3,439,219
70$4,278,644$2,323,948$1,919,564$3,672,286
71$4,655,129$2,377,884$1,923,932$3,926,410
72$5,068,127$2,432,575$1,926,558$4,203,691
73$5,521,303$2,487,998$1,927,325$4,506,442
74$6,018,694$2,544,129$1,926,109$4,837,211
75$6,564,747$2,600,937$1,922,780$5,198,807
76$7,164,360$2,658,392$1,917,202$5,594,326
77$7,822,929$2,716,457$1,909,233$6,027,179
78$8,546,398$2,775,094$1,898,722$6,501,125
79$9,341,315$2,834,258$1,885,514$7,020,308
80$10,214,894$2,893,901$1,869,443$7,589,292
81$11,175,082$2,953,971$1,850,338$8,213,111
82$12,230,634$3,014,409$1,828,018$8,897,310
83$13,391,197$3,075,154$1,802,295$9,648,001
84$14,667,398$3,136,136$1,772,971$10,471,920
85$16,070,947$3,197,280$1,739,839$11,376,490
86$17,614,742$3,258,506$1,702,683$12,369,896
87$19,312,998$3,319,725$1,661,275$13,461,153
88$21,181,376$3,380,843$1,615,380$14,660,201
89$23,237,129$3,441,757$1,564,748$15,977,993
90$25,499,269$3,502,356$1,509,120$17,426,602
91$27,988,744$3,562,521$1,448,225$19,019,334
92$30,728,635$3,622,124$1,381,780$20,770,853
93$33,744,374$3,681,026$1,309,487$22,697,320
94$37,063,982$3,739,079$1,231,037$24,816,549
95$40,718,338$3,796,123$1,146,107$27,148,172
96$44,741,464$3,851,988$1,054,356$29,713,825
97$49,170,848$3,906,491$955,433$32,537,356
98$54,047,802$3,959,436$848,966$35,645,045
99$59,417,842$4,010,613$734,572$39,065,860
100$65,331,128$4,059,799$611,845$42,831,724