Can I retire at age 60 with 1,170,000?

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 $1,170,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$96,618$95,757$94,917$94,098$93,297$90,931
2 years$47,830$46,940$46,076$45,239$44,427$42,059
3 years$31,570$30,676$29,814$28,985$28,187$25,890
4 years$23,442$22,550$21,697$20,882$20,103$17,896
5 years$18,566$17,679$16,838$16,040$15,282$13,170
6 years$15,316$14,436$13,608$12,827$12,092$10,078
7 years$12,996$12,124$11,308$10,546$9,834$7,918
8 years$11,257$10,392$9,590$8,847$8,158$6,339
9 years$9,905$9,048$8,260$7,535$6,870$5,146
10 years$8,824$7,976$7,201$6,496$5,854$4,223
11 years$7,940$7,100$6,340$5,653$5,035$3,495
12 years$7,204$6,373$5,626$4,958$4,363$2,911
13 years$6,581$5,759$5,027$4,378$3,805$2,438
14 years$6,048$5,235$4,517$3,886$3,335$2,051
15 years$5,587$4,782$4,078$3,466$2,936$1,731
16 years$5,184$4,388$3,697$3,103$2,595$1,466
17 years$4,828$4,041$3,364$2,788$2,301$1,244
18 years$4,512$3,734$3,071$2,513$2,046$1,058
19 years$4,230$3,461$2,812$2,270$1,824$902
20 years$3,976$3,216$2,580$2,056$1,629$770
21 years$3,747$2,995$2,373$1,866$1,458$657
22 years$3,539$2,796$2,187$1,697$1,307$562
23 years$3,350$2,615$2,020$1,545$1,173$481
24 years$3,176$2,450$1,868$1,409$1,054$412
25 years$3,016$2,299$1,730$1,287$949$353
26 years$2,869$2,161$1,605$1,177$855$303
27 years$2,734$2,034$1,490$1,077$770$260
28 years$2,608$1,916$1,385$987$695$223
29 years$2,491$1,808$1,289$905$628$192
30 years$2,382$1,707$1,201$831$567$165
31 years$2,280$1,614$1,119$763$513$142
32 years$2,185$1,527$1,044$701$464$122
33 years$2,095$1,446$975$645$420$105
34 years$2,011$1,371$911$593$380$90
35 years$1,933$1,300$852$546$344$77
36 years$1,858$1,234$797$503$312$66
37 years$1,788$1,172$746$463$283$57
38 years$1,722$1,114$698$427$256$49
39 years$1,659$1,059$654$394$232$42
40 years$1,600$1,008$613$363$211$36
41 years$1,543$959$575$335$191$31
42 years$1,490$914$539$309$174$27
43 years$1,439$870$506$286$157$23
44 years$1,390$830$475$264$143$20
45 years$1,344$791$446$243$130$17
46 years$1,300$755$419$225$118$15
47 years$1,258$720$394$208$107$13
48 years$1,218$688$370$192$97$11
49 years$1,179$657$348$177$88$9
50 years$1,142$627$327$164$80$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,170,000, adding $4,973 every year, while hoping to spend $32,470 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: 78/5/17 Blend
59$1,170,000$1,170,000$1,170,000$1,170,000
60$1,294,470$1,232,460$1,214,325$1,390,218
61$1,391,958$1,258,302$1,220,457$1,479,927
62$1,498,301$1,284,323$1,225,706$1,573,718
63$1,614,369$1,310,496$1,230,008$1,675,713
64$1,741,119$1,336,794$1,233,297$1,786,720
65$1,879,602$1,363,186$1,235,502$1,907,631
66$2,030,978$1,389,639$1,236,548$2,039,428
67$2,196,524$1,416,118$1,236,359$2,183,192
68$2,377,645$1,442,583$1,234,852$2,340,114
69$2,575,889$1,468,993$1,231,943$2,511,509
70$2,792,958$1,495,303$1,227,542$2,698,822
71$3,030,730$1,521,462$1,221,555$2,903,647
72$3,291,270$1,547,420$1,213,883$3,127,741
73$3,576,855$1,573,119$1,204,423$3,373,039
74$3,889,991$1,598,498$1,193,068$3,641,672
75$4,233,437$1,623,492$1,179,703$3,935,991
76$4,610,236$1,648,031$1,164,211$4,258,584
77$5,023,735$1,672,040$1,146,467$4,612,305
78$5,477,623$1,695,437$1,126,341$5,000,297
79$5,975,964$1,718,137$1,103,697$5,426,025
80$6,523,234$1,740,048$1,078,393$5,893,307
81$7,124,364$1,761,070$1,050,279$6,406,350
82$7,784,786$1,781,099$1,019,200$6,969,789
83$8,510,483$1,800,022$984,992$7,588,735
84$9,308,048$1,817,719$947,486$8,268,818
85$10,184,745$1,834,062$906,502$9,016,242
86$11,148,573$1,848,916$861,854$9,837,846
87$12,208,349$1,862,134$813,347$10,741,165
88$13,373,784$1,873,563$760,778$11,734,504
89$14,655,580$1,883,037$703,934$12,827,014
90$16,065,526$1,890,382$642,592$14,028,782
91$17,616,611$1,895,412$576,521$15,350,923
92$19,323,147$1,897,929$505,476$16,805,685
93$21,200,904$1,897,724$429,205$18,406,568
94$23,267,255$1,894,572$347,443$20,168,448
95$25,541,347$1,888,237$259,914$22,107,721
96$28,044,272$1,878,468$166,328$24,242,454
97$30,799,273$1,864,998$66,386$26,592,560
98$33,831,960$1,847,545$0$29,179,981
99$37,170,553$1,825,808$0$32,036,206
100$40,846,146$1,799,469$0$35,193,906