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

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 $1,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$143,688$142,408$141,159$139,940$138,750$136,677
2 years$71,132$69,808$68,524$67,279$66,071$63,987
3 years$46,951$45,620$44,339$43,106$41,918$39,888
4 years$34,862$33,536$32,268$31,056$29,897$27,936
5 years$27,611$26,292$25,041$23,854$22,727$20,842
6 years$22,778$21,470$20,237$19,076$17,983$16,175
7 years$19,328$18,030$16,817$15,683$14,625$12,895
8 years$16,741$15,455$14,262$13,156$12,133$10,481
9 years$14,730$13,457$12,284$11,206$10,218$8,643
10 years$13,122$11,861$10,709$9,660$8,706$7,207
11 years$11,808$10,559$9,428$8,407$7,487$6,063
12 years$10,713$9,478$8,367$7,374$6,488$5,136
13 years$9,788$8,565$7,476$6,510$5,658$4,377
14 years$8,995$7,785$6,717$5,779$4,960$3,747
15 years$8,309$7,112$6,065$5,154$4,367$3,221
16 years$7,709$6,525$5,498$4,615$3,860$2,778
17 years$7,180$6,009$5,003$4,146$3,422$2,402
18 years$6,711$5,553$4,567$3,737$3,043$2,082
19 years$6,291$5,146$4,181$3,376$2,712$1,809
20 years$5,914$4,782$3,837$3,058$2,423$1,574
21 years$5,573$4,455$3,530$2,775$2,168$1,372
22 years$5,263$4,158$3,253$2,523$1,943$1,197
23 years$4,981$3,889$3,004$2,298$1,744$1,045
24 years$4,723$3,644$2,778$2,096$1,568$914
25 years$4,486$3,419$2,573$1,914$1,411$800
26 years$4,267$3,214$2,386$1,750$1,271$701
27 years$4,065$3,025$2,216$1,602$1,146$614
28 years$3,878$2,850$2,060$1,468$1,034$538
29 years$3,704$2,689$1,917$1,346$934$472
30 years$3,542$2,539$1,786$1,235$843$414
31 years$3,391$2,400$1,665$1,135$763$364
32 years$3,249$2,271$1,553$1,043$690$320
33 years$3,116$2,151$1,450$959$624$281
34 years$2,991$2,039$1,355$882$565$247
35 years$2,874$1,934$1,267$812$512$217
36 years$2,764$1,835$1,185$748$464$191
37 years$2,659$1,743$1,109$689$420$168
38 years$2,561$1,656$1,039$635$381$147
39 years$2,467$1,575$973$586$346$130
40 years$2,379$1,499$912$540$313$114
41 years$2,295$1,427$855$498$284$100
42 years$2,215$1,359$802$460$258$88
43 years$2,139$1,294$753$425$234$78
44 years$2,067$1,234$707$392$213$68
45 years$1,999$1,177$664$362$193$60
46 years$1,933$1,122$623$334$175$53
47 years$1,871$1,071$585$309$159$47
48 years$1,811$1,023$550$286$145$41
49 years$1,754$977$517$264$131$36
50 years$1,699$933$486$244$119$32

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 $5,373 every year, while hoping to spend $29,298 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: 62/32/6 Blend
59$1,740,000$1,740,000$1,740,000$1,740,000
60$1,923,022$1,830,802$1,803,832$2,039,857
61$2,087,998$1,889,339$1,833,088$2,177,009
62$2,268,819$1,949,762$1,862,341$2,322,730
63$2,467,070$2,012,132$1,891,562$2,481,014
64$2,684,499$2,076,514$1,920,717$2,653,074
65$2,923,028$2,142,973$1,949,771$2,840,244
66$3,184,775$2,211,577$1,978,687$3,043,992
67$3,472,074$2,282,396$2,007,424$3,265,934
68$3,787,494$2,355,502$2,035,942$3,507,846
69$4,133,867$2,430,971$2,064,194$3,771,686
70$4,514,312$2,508,878$2,092,135$4,059,607
71$4,932,264$2,589,306$2,119,714$4,373,982
72$5,391,508$2,672,335$2,146,878$4,717,420
73$5,896,214$2,758,051$2,173,570$5,092,795
74$6,450,975$2,846,543$2,199,732$5,503,273
75$7,060,852$2,937,901$2,225,301$5,952,337
76$7,731,421$3,032,221$2,250,210$6,443,825
77$8,468,824$3,129,598$2,274,391$6,981,962
78$9,279,830$3,230,133$2,297,768$7,571,401
79$10,171,894$3,333,932$2,320,265$8,217,268
80$11,153,233$3,441,100$2,341,800$8,925,207
81$12,232,899$3,551,750$2,362,286$9,701,434
82$13,420,864$3,665,995$2,381,632$10,552,796
83$14,728,119$3,783,955$2,399,743$11,486,837
84$16,166,771$3,905,753$2,416,518$12,511,864
85$17,750,161$4,031,515$2,431,851$13,637,028
86$19,492,990$4,161,371$2,445,631$14,872,411
87$21,411,455$4,295,459$2,457,740$16,229,117
88$23,523,405$4,433,918$2,468,056$17,719,381
89$25,848,505$4,576,892$2,476,448$19,356,681
90$28,408,425$4,724,533$2,482,782$21,155,862
91$31,227,043$4,876,994$2,486,914$23,133,285
92$34,330,671$5,034,435$2,488,694$25,306,969
93$37,748,300$5,197,024$2,487,966$27,696,770
94$41,511,878$5,364,929$2,484,565$30,324,564
95$45,656,609$5,538,330$2,478,317$33,214,450
96$50,221,284$5,717,409$2,469,041$36,392,985
97$55,248,648$5,902,355$2,456,547$39,889,424
98$60,785,804$6,093,364$2,440,635$43,736,005
99$66,884,656$6,290,639$2,421,097$47,968,245
100$73,602,401$6,494,390$2,397,713$52,625,280