Can I retire at age 60 with 1,300,000?

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 $1,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$107,353$106,397$105,464$104,553$103,664$101,405
2 years$53,145$52,155$51,196$50,266$49,364$47,099
3 years$35,078$34,084$33,127$32,206$31,318$29,119
4 years$26,046$25,055$24,108$23,202$22,337$20,219
5 years$20,629$19,644$18,709$17,822$16,980$14,951
6 years$17,018$16,041$15,120$14,252$13,436$11,497
7 years$14,440$13,471$12,564$11,718$10,927$9,079
8 years$12,508$11,547$10,656$9,830$9,065$7,306
9 years$11,005$10,054$9,178$8,373$7,634$5,964
10 years$9,804$8,862$8,001$7,217$6,504$4,922
11 years$8,822$7,889$7,044$6,281$5,594$4,096
12 years$8,004$7,081$6,252$5,509$4,848$3,432
13 years$7,313$6,399$5,585$4,864$4,227$2,892
14 years$6,720$5,817$5,018$4,318$3,706$2,448
15 years$6,208$5,314$4,531$3,851$3,263$2,079
16 years$5,759$4,875$4,108$3,448$2,884$1,772
17 years$5,364$4,490$3,738$3,098$2,557$1,514
18 years$5,014$4,149$3,412$2,792$2,273$1,296
19 years$4,700$3,845$3,124$2,523$2,026$1,112
20 years$4,418$3,573$2,867$2,285$1,810$955
21 years$4,164$3,328$2,637$2,074$1,620$822
22 years$3,932$3,107$2,430$1,885$1,452$708
23 years$3,722$2,906$2,244$1,717$1,303$610
24 years$3,529$2,722$2,075$1,566$1,171$526
25 years$3,352$2,555$1,922$1,430$1,054$455
26 years$3,188$2,401$1,783$1,308$949$393
27 years$3,037$2,260$1,655$1,197$856$339
28 years$2,897$2,129$1,539$1,097$772$294
29 years$2,767$2,009$1,432$1,006$697$254
30 years$2,646$1,897$1,334$923$630$220
31 years$2,533$1,793$1,244$848$570$190
32 years$2,427$1,697$1,160$779$515$165
33 years$2,328$1,607$1,083$716$466$143
34 years$2,235$1,523$1,012$659$422$124
35 years$2,147$1,445$946$607$382$107
36 years$2,065$1,371$885$559$347$93
37 years$1,987$1,302$829$515$314$80
38 years$1,913$1,238$776$475$285$70
39 years$1,843$1,177$727$438$258$60
40 years$1,777$1,120$681$404$234$52
41 years$1,715$1,066$639$372$212$45
42 years$1,655$1,015$599$344$193$39
43 years$1,598$967$562$317$175$34
44 years$1,545$922$528$293$159$30
45 years$1,493$879$496$271$144$26
46 years$1,444$839$466$250$131$22
47 years$1,398$800$437$231$119$19
48 years$1,353$764$411$213$108$17
49 years$1,310$730$386$197$98$15
50 years$1,269$697$363$182$89$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,300,000, adding $4,622 every year, while hoping to spend $31,997 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: 35/48/17 Blend
59$1,300,000$1,300,000$1,300,000$1,300,000
60$1,437,368$1,368,468$1,348,318$1,480,027
61$1,549,935$1,401,478$1,359,442$1,544,539
62$1,672,911$1,435,033$1,369,866$1,610,768
63$1,807,325$1,469,127$1,379,533$1,681,548
64$1,954,308$1,503,750$1,388,384$1,757,302
65$2,115,106$1,538,893$1,396,353$1,838,494
66$2,291,091$1,574,543$1,403,376$1,925,635
67$2,483,775$1,610,688$1,409,382$2,019,289
68$2,694,821$1,647,313$1,414,297$2,120,078
69$2,926,061$1,684,399$1,418,044$2,228,686
70$3,179,513$1,721,929$1,420,542$2,345,868
71$3,457,400$1,759,880$1,421,707$2,472,454
72$3,762,169$1,798,228$1,421,448$2,609,362
73$4,096,515$1,836,946$1,419,672$2,757,601
74$4,463,410$1,876,006$1,416,280$2,918,285
75$4,866,122$1,915,375$1,411,170$3,092,640
76$5,308,256$1,955,018$1,404,234$3,282,021
77$5,793,779$1,994,895$1,395,357$3,487,918
78$6,327,065$2,034,965$1,384,422$3,711,975
79$6,912,929$2,075,182$1,371,303$3,956,005
80$7,556,676$2,115,495$1,355,871$4,222,007
81$8,264,153$2,155,850$1,337,988$4,512,184
82$9,041,799$2,196,188$1,317,512$4,828,965
83$9,896,707$2,236,446$1,294,294$5,175,028
84$10,836,694$2,276,555$1,268,176$5,553,326
85$11,870,372$2,316,441$1,238,995$5,967,114
86$13,007,227$2,356,024$1,206,578$6,419,981
87$14,257,712$2,395,217$1,170,747$6,915,884
88$15,633,346$2,433,930$1,131,314$7,459,186
89$17,146,816$2,472,061$1,088,082$8,054,696
90$18,812,105$2,509,506$1,040,846$8,707,719
91$20,644,617$2,546,149$989,392$9,424,100
92$22,661,326$2,581,869$933,495$10,210,286
93$24,880,935$2,616,533$872,920$11,073,383
94$27,324,050$2,650,004$807,423$12,021,226
95$30,013,379$2,682,130$736,748$13,062,453
96$32,973,941$2,712,752$660,626$14,206,586
97$36,233,306$2,741,699$578,780$15,464,125
98$39,821,850$2,768,789$490,916$16,846,642
99$43,773,047$2,793,829$396,730$18,366,898
100$48,123,782$2,816,610$295,904$20,038,959