Can I retire at age 60 with 1,480,000?

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 $1,480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$122,217$121,128$120,066$119,030$118,017$116,980
2 years$60,503$59,377$58,285$57,226$56,199$55,153
3 years$39,935$38,803$37,714$36,665$35,655$34,634
4 years$29,653$28,525$27,446$26,415$25,429$24,440
5 years$23,485$22,364$21,299$20,289$19,331$18,377
6 years$19,375$18,262$17,213$16,226$15,296$14,379
7 years$16,440$15,336$14,304$13,340$12,440$11,559
8 years$14,239$13,146$12,131$11,191$10,320$9,476
9 years$12,529$11,446$10,448$9,532$8,691$7,884
10 years$11,162$10,089$9,109$8,217$7,405$6,634
11 years$10,044$8,982$8,020$7,151$6,369$5,633
12 years$9,112$8,061$7,117$6,272$5,519$4,818
13 years$8,325$7,285$6,359$5,537$4,813$4,146
14 years$7,651$6,622$5,713$4,916$4,219$3,585
15 years$7,067$6,049$5,158$4,384$3,714$3,113
16 years$6,557$5,550$4,677$3,925$3,283$2,712
17 years$6,107$5,111$4,256$3,527$2,911$2,371
18 years$5,708$4,723$3,885$3,178$2,588$2,077
19 years$5,351$4,377$3,556$2,872$2,307$1,824
20 years$5,030$4,068$3,264$2,601$2,061$1,605
21 years$4,740$3,789$3,002$2,361$1,844$1,414
22 years$4,477$3,537$2,767$2,146$1,653$1,248
23 years$4,237$3,308$2,555$1,955$1,484$1,103
24 years$4,017$3,099$2,363$1,783$1,334$976
25 years$3,816$2,909$2,188$1,628$1,200$864
26 years$3,630$2,734$2,030$1,489$1,081$766
27 years$3,458$2,573$1,885$1,363$975$679
28 years$3,299$2,424$1,752$1,248$879$603
29 years$3,151$2,287$1,630$1,145$794$535
30 years$3,013$2,160$1,519$1,051$717$475
31 years$2,884$2,042$1,416$965$649$423
32 years$2,763$1,932$1,321$887$587$376
33 years$2,650$1,829$1,233$816$531$334
34 years$2,544$1,734$1,152$750$481$297
35 years$2,445$1,645$1,077$691$435$265
36 years$2,351$1,561$1,008$636$395$236
37 years$2,262$1,483$943$586$358$210
38 years$2,178$1,409$883$540$324$187
39 years$2,099$1,340$828$498$294$166
40 years$2,023$1,275$776$459$267$148
41 years$1,952$1,213$727$424$242$132
42 years$1,884$1,156$682$391$220$118
43 years$1,820$1,101$640$361$199$105
44 years$1,758$1,050$601$333$181$94
45 years$1,700$1,001$564$308$164$83
46 years$1,644$955$530$284$149$74
47 years$1,591$911$498$263$135$66
48 years$1,540$870$468$243$123$59
49 years$1,492$831$440$224$112$53
50 years$1,445$793$414$207$101$47

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,480,000, adding $3,580 every year, while hoping to spend $55,699 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: 85/10/5 Blend
59$1,480,000$1,480,000$1,480,000$1,480,000
60$1,634,653$1,556,213$1,533,273$1,773,313
61$1,742,124$1,573,204$1,525,374$1,881,228
62$1,858,691$1,589,161$1,515,344$1,991,746
63$1,985,221$1,603,974$1,503,052$2,111,365
64$2,122,672$1,617,527$1,488,363$2,240,963
65$2,272,094$1,629,695$1,471,132$2,381,504
66$2,434,643$1,640,346$1,451,211$2,534,049
67$2,611,593$1,649,339$1,428,442$2,699,768
68$2,804,343$1,656,523$1,402,662$2,879,948
69$3,014,433$1,661,741$1,373,700$3,076,007
70$3,243,561$1,664,822$1,341,374$3,289,506
71$3,493,592$1,665,586$1,305,498$3,522,167
72$3,766,580$1,663,841$1,265,874$3,775,882
73$4,064,787$1,659,386$1,222,297$4,052,738
74$4,390,704$1,652,003$1,174,551$4,355,035
75$4,747,069$1,641,465$1,122,413$4,685,303
76$5,136,902$1,627,529$1,065,646$5,046,334
77$5,563,526$1,609,938$1,004,004$5,441,198
78$6,030,599$1,588,418$937,232$5,873,284
79$6,542,150$1,562,681$865,059$6,346,320
80$7,102,618$1,532,420$787,207$6,864,416
81$7,716,887$1,497,312$703,381$7,432,102
82$8,390,342$1,457,012$613,276$8,054,367
83$9,128,907$1,411,156$516,572$8,736,708
84$9,939,114$1,359,360$412,935$9,485,184
85$10,828,151$1,301,217$302,016$10,306,470
86$11,803,941$1,236,295$183,452$11,207,922
87$12,875,208$1,164,138$56,862$12,197,645
88$14,051,563$1,084,265$0$13,284,571
89$15,343,593$996,165$0$14,482,716
90$16,762,962$899,299$0$15,802,263
91$18,322,517$793,098$0$17,252,149
92$20,036,414$676,960$0$18,845,570
93$21,920,245$550,248$0$20,597,066
94$23,991,191$412,291$0$22,522,659
95$26,268,179$262,380$0$24,640,004
96$28,772,061$99,764$0$26,968,554
97$31,525,811$0$0$29,529,748
98$34,554,743$0$0$32,355,609
99$37,886,744$0$0$35,476,322
100$41,552,543$0$0$38,909,692