Can I retire at age 60 with 1,210,000?

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 $1,210,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$99,921$99,031$98,162$97,315$96,487$93,850
2 years$49,466$48,544$47,652$46,786$45,946$43,309
3 years$32,650$31,724$30,834$29,976$29,150$26,595
4 years$24,243$23,321$22,439$21,596$20,790$18,336
5 years$19,201$18,284$17,414$16,588$15,804$13,459
6 years$15,840$14,930$14,073$13,265$12,505$10,271
7 years$13,441$12,538$11,695$10,906$10,170$8,047
8 years$11,642$10,748$9,918$9,149$8,437$6,423
9 years$10,243$9,358$8,542$7,793$7,105$5,199
10 years$9,125$8,248$7,447$6,718$6,054$4,253
11 years$8,211$7,343$6,557$5,846$5,207$3,508
12 years$7,450$6,591$5,819$5,128$4,512$2,913
13 years$6,806$5,956$5,199$4,527$3,935$2,431
14 years$6,255$5,414$4,671$4,019$3,449$2,038
15 years$5,778$4,946$4,217$3,584$3,037$1,715
16 years$5,361$4,538$3,824$3,209$2,684$1,447
17 years$4,993$4,179$3,479$2,883$2,380$1,223
18 years$4,667$3,862$3,176$2,599$2,116$1,037
19 years$4,375$3,579$2,908$2,348$1,886$880
20 years$4,112$3,326$2,668$2,127$1,685$748
21 years$3,875$3,098$2,455$1,930$1,508$637
22 years$3,660$2,892$2,262$1,755$1,351$542
23 years$3,464$2,704$2,089$1,598$1,213$463
24 years$3,285$2,534$1,932$1,458$1,090$395
25 years$3,120$2,378$1,789$1,331$981$337
26 years$2,968$2,235$1,659$1,217$884$288
27 years$2,827$2,103$1,541$1,114$797$246
28 years$2,697$1,982$1,432$1,021$719$210
29 years$2,576$1,870$1,333$936$649$180
30 years$2,463$1,766$1,242$859$587$154
31 years$2,358$1,669$1,158$789$530$132
32 years$2,259$1,579$1,080$725$480$113
33 years$2,167$1,496$1,008$667$434$96
34 years$2,080$1,418$942$613$393$83
35 years$1,999$1,345$881$565$356$71
36 years$1,922$1,276$824$520$323$61
37 years$1,849$1,212$771$479$292$52
38 years$1,781$1,152$722$442$265$44
39 years$1,716$1,095$677$407$240$38
40 years$1,654$1,042$634$376$218$33
41 years$1,596$992$595$347$198$28
42 years$1,541$945$558$320$179$24
43 years$1,488$900$524$295$163$20
44 years$1,438$858$491$273$148$18
45 years$1,390$818$461$252$134$15
46 years$1,344$781$433$233$122$13
47 years$1,301$745$407$215$111$11
48 years$1,259$711$383$199$100$9
49 years$1,219$679$360$183$91$8
50 years$1,181$649$338$170$83$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,210,000, adding $3,303 every year, while hoping to spend $22,755 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: 31/42/27 Blend
59$1,210,000$1,210,000$1,210,000$1,210,000
60$1,336,827$1,272,697$1,253,942$1,367,109
61$1,448,972$1,310,848$1,271,738$1,428,886
62$1,571,794$1,350,106$1,289,367$1,493,107
63$1,706,356$1,390,501$1,306,801$1,561,786
64$1,853,833$1,432,063$1,324,007$1,635,329
65$2,015,514$1,474,825$1,340,952$1,714,183
66$2,192,825$1,518,819$1,357,601$1,798,838
67$2,387,330$1,564,079$1,373,918$1,889,832
68$2,600,756$1,610,637$1,389,863$1,987,761
69$2,835,004$1,658,529$1,405,394$2,093,277
70$3,092,168$1,707,791$1,420,468$2,207,100
71$3,374,554$1,758,458$1,435,039$2,330,019
72$3,684,704$1,810,567$1,449,059$2,462,907
73$4,025,417$1,864,158$1,462,475$2,606,721
74$4,399,775$1,919,267$1,475,234$2,762,518
75$4,811,177$1,975,936$1,487,279$2,931,459
76$5,263,364$2,034,205$1,498,550$3,114,824
77$5,760,460$2,094,114$1,508,984$3,314,023
78$6,307,008$2,155,705$1,518,516$3,530,607
79$6,908,011$2,219,023$1,527,074$3,766,286
80$7,568,983$2,284,111$1,534,586$4,022,941
81$8,296,000$2,351,013$1,540,976$4,302,647
82$9,095,755$2,419,775$1,546,161$4,607,689
83$9,975,621$2,490,443$1,550,057$4,940,581
84$10,943,725$2,563,066$1,552,575$5,304,095
85$12,009,020$2,637,691$1,553,620$5,701,286
86$13,181,369$2,714,366$1,553,096$6,135,518
87$14,471,642$2,793,143$1,550,897$6,610,497
88$15,891,814$2,874,072$1,546,917$7,130,306
89$17,455,082$2,957,205$1,541,042$7,699,444
90$19,175,986$3,042,593$1,533,152$8,322,869
91$21,070,547$3,130,291$1,523,124$9,006,044
92$23,156,420$3,220,352$1,510,825$9,754,985
93$25,453,057$3,312,832$1,496,120$10,576,326
94$27,981,893$3,407,786$1,478,865$11,477,373
95$30,766,549$3,505,270$1,458,909$12,466,178
96$33,833,050$3,605,341$1,436,096$13,551,614
97$37,210,077$3,708,058$1,410,261$14,743,458
98$40,929,230$3,813,479$1,381,230$16,052,483
99$45,025,335$3,921,663$1,348,825$17,490,563
100$49,536,764$4,032,669$1,312,855$19,070,779