Can I retire at age 60 with 1,340,000?

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 $1,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$110,656$109,670$108,709$107,770$106,853$105,300
2 years$54,780$53,760$52,771$51,813$50,883$49,321
3 years$36,157$35,133$34,146$33,197$32,282$30,761
4 years$26,848$25,826$24,850$23,916$23,024$21,554
5 years$21,263$20,248$19,285$18,370$17,502$16,089
6 years$17,542$16,534$15,585$14,691$13,849$12,493
7 years$14,885$13,885$12,951$12,078$11,263$9,966
8 years$12,893$11,902$10,983$10,132$9,344$8,105
9 years$11,344$10,363$9,460$8,630$7,869$6,687
10 years$10,106$9,135$8,248$7,439$6,705$5,580
11 years$9,093$8,132$7,261$6,474$5,766$4,697
12 years$8,250$7,299$6,444$5,679$4,997$3,982
13 years$7,538$6,596$5,757$5,014$4,357$3,395
14 years$6,927$5,996$5,173$4,451$3,820$2,908
15 years$6,399$5,477$4,670$3,969$3,363$2,502
16 years$5,937$5,025$4,234$3,554$2,972$2,159
17 years$5,529$4,628$3,853$3,193$2,635$1,868
18 years$5,168$4,276$3,517$2,878$2,343$1,621
19 years$4,845$3,963$3,220$2,600$2,089$1,409
20 years$4,554$3,683$2,955$2,355$1,866$1,227
21 years$4,292$3,430$2,718$2,137$1,670$1,070
22 years$4,053$3,202$2,505$1,943$1,496$934
23 years$3,836$2,995$2,313$1,770$1,343$817
24 years$3,637$2,806$2,139$1,614$1,207$715
25 years$3,455$2,633$1,981$1,474$1,086$626
26 years$3,286$2,475$1,838$1,348$979$549
27 years$3,131$2,329$1,706$1,234$882$481
28 years$2,987$2,195$1,586$1,130$796$422
29 years$2,853$2,071$1,476$1,037$719$371
30 years$2,728$1,955$1,375$951$650$326
31 years$2,611$1,849$1,282$874$587$286
32 years$2,502$1,749$1,196$803$531$251
33 years$2,400$1,656$1,117$738$481$221
34 years$2,304$1,570$1,043$679$435$194
35 years$2,213$1,489$976$625$394$171
36 years$2,128$1,413$913$576$357$150
37 years$2,048$1,342$854$531$324$132
38 years$1,972$1,276$800$489$294$117
39 years$1,900$1,213$749$451$266$103
40 years$1,832$1,154$702$416$241$90
41 years$1,767$1,099$659$384$219$79
42 years$1,706$1,046$618$354$199$70
43 years$1,648$997$580$327$180$62
44 years$1,592$950$544$302$164$54
45 years$1,539$906$511$279$149$48
46 years$1,489$864$480$258$135$42
47 years$1,441$825$451$238$123$37
48 years$1,394$788$424$220$111$33
49 years$1,350$752$398$203$101$29
50 years$1,308$718$374$188$92$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,340,000, adding $3,100 every year, while hoping to spend $34,439 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: 42/42/16 Blend
59$1,340,000$1,340,000$1,340,000$1,340,000
60$1,479,878$1,408,858$1,388,088$1,534,975
61$1,594,182$1,441,249$1,397,946$1,606,521
62$1,718,992$1,474,073$1,406,980$1,680,323
63$1,855,341$1,507,315$1,415,126$1,759,506
64$2,004,370$1,540,957$1,422,317$1,844,578
65$2,167,334$1,574,982$1,428,482$1,936,101
66$2,345,612$1,609,367$1,433,547$2,034,692
67$2,540,728$1,644,088$1,437,433$2,141,033
68$2,754,354$1,679,121$1,440,060$2,255,872
69$2,988,337$1,714,437$1,441,340$2,380,038
70$3,244,706$1,750,003$1,441,184$2,514,442
71$3,525,700$1,785,786$1,439,497$2,660,089
72$3,833,780$1,821,749$1,436,180$2,818,085
73$4,171,662$1,857,851$1,431,128$2,989,652
74$4,542,332$1,894,047$1,424,231$3,176,135
75$4,949,084$1,930,288$1,415,377$3,379,018
76$5,395,542$1,966,524$1,404,444$3,599,936
77$5,885,701$2,002,698$1,391,306$3,840,692
78$6,423,960$2,038,748$1,375,833$4,103,275
79$7,015,167$2,074,609$1,357,886$4,389,876
80$7,664,659$2,110,210$1,337,320$4,702,910
81$8,378,319$2,145,475$1,313,985$5,045,041
82$9,162,625$2,180,321$1,287,722$5,419,207
83$10,024,718$2,214,661$1,258,365$5,828,645
84$10,972,459$2,248,401$1,225,741$6,276,925
85$12,014,515$2,281,437$1,189,668$6,767,983
86$13,160,431$2,313,663$1,149,957$7,306,157
87$14,420,725$2,344,962$1,106,410$7,896,232
88$15,806,982$2,375,209$1,058,819$8,543,482
89$17,331,972$2,404,271$1,006,966$9,253,722
90$19,009,759$2,432,007$950,626$10,033,362
91$20,855,844$2,458,265$889,561$10,889,469
92$22,887,303$2,482,882$823,524$11,829,837
93$25,122,951$2,505,687$752,256$12,863,055
94$27,583,522$2,526,496$675,486$13,998,593
95$30,291,859$2,545,111$592,933$15,246,891
96$33,273,133$2,561,326$504,300$16,619,460
97$36,555,079$2,574,918$409,281$18,128,987
98$40,168,259$2,585,651$307,554$19,789,460
99$44,146,347$2,593,273$198,782$21,616,300
100$48,526,448$2,597,517$82,616$23,626,505