Can I retire at age 60 with 1,520,000?

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 $1,520,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$125,520$124,402$123,311$122,247$121,207$118,711
2 years$62,139$60,981$59,860$58,772$57,718$55,214
3 years$41,014$39,852$38,733$37,656$36,618$34,186
4 years$30,454$29,295$28,188$27,129$26,117$23,774
5 years$24,120$22,968$21,875$20,838$19,853$17,607
6 years$19,898$18,755$17,678$16,664$15,709$13,561
7 years$16,884$15,751$14,691$13,700$12,776$10,727
8 years$14,624$13,501$12,459$11,493$10,599$8,648
9 years$12,868$11,755$10,731$9,789$8,926$7,072
10 years$11,463$10,362$9,355$8,439$7,605$5,847
11 years$10,315$9,224$8,236$7,344$6,541$4,875
12 years$9,359$8,279$7,310$6,442$5,668$4,093
13 years$8,550$7,482$6,531$5,687$4,943$3,456
14 years$7,858$6,801$5,868$5,048$4,333$2,931
15 years$7,258$6,213$5,298$4,502$3,815$2,495
16 years$6,734$5,700$4,803$4,031$3,372$2,131
17 years$6,272$5,250$4,371$3,622$2,989$1,824
18 years$5,862$4,851$3,990$3,264$2,658$1,565
19 years$5,495$4,496$3,653$2,950$2,369$1,346
20 years$5,166$4,178$3,352$2,671$2,116$1,159
21 years$4,868$3,891$3,083$2,424$1,894$999
22 years$4,598$3,632$2,842$2,204$1,698$863
23 years$4,352$3,397$2,624$2,008$1,524$745
24 years$4,126$3,183$2,427$1,831$1,370$645
25 years$3,919$2,987$2,248$1,672$1,232$558
26 years$3,728$2,807$2,084$1,529$1,110$483
27 years$3,551$2,642$1,936$1,399$1,001$419
28 years$3,388$2,490$1,799$1,282$903$363
29 years$3,236$2,349$1,675$1,176$815$315
30 years$3,094$2,218$1,560$1,079$737$273
31 years$2,962$2,097$1,454$991$666$237
32 years$2,838$1,984$1,357$911$603$206
33 years$2,722$1,879$1,267$838$545$179
34 years$2,613$1,781$1,184$771$494$155
35 years$2,511$1,689$1,107$709$447$135
36 years$2,414$1,603$1,035$653$405$117
37 years$2,323$1,523$969$602$367$102
38 years$2,237$1,447$907$555$333$88
39 years$2,155$1,376$850$512$302$77
40 years$2,078$1,309$797$472$274$67
41 years$2,005$1,246$747$435$248$58
42 years$1,935$1,187$701$402$225$50
43 years$1,869$1,131$658$371$205$44
44 years$1,806$1,078$617$342$186$38
45 years$1,746$1,028$580$316$169$33
46 years$1,689$981$544$292$153$29
47 years$1,634$936$511$270$139$25
48 years$1,582$893$481$249$126$22
49 years$1,532$853$452$231$115$19
50 years$1,484$815$425$213$104$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,520,000, adding $4,757 every year, while hoping to spend $58,542 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: 65/29/6 Blend
59$1,520,000$1,520,000$1,520,000$1,520,000
60$1,679,947$1,599,387$1,575,827$1,787,208
61$1,789,013$1,615,469$1,566,329$1,875,180
62$1,907,242$1,630,376$1,554,551$1,963,834
63$2,035,507$1,643,990$1,540,354$2,059,138
64$2,174,767$1,656,184$1,523,594$2,161,732
65$2,326,078$1,666,822$1,504,119$2,272,323
66$2,490,601$1,675,760$1,481,770$2,391,687
67$2,669,615$1,682,844$1,456,382$2,520,685
68$2,864,524$1,687,913$1,427,780$2,660,262
69$3,076,877$1,690,792$1,395,782$2,811,463
70$3,308,375$1,691,297$1,360,197$2,975,439
71$3,560,892$1,689,233$1,320,826$3,153,462
72$3,836,490$1,684,393$1,277,461$3,346,932
73$4,137,439$1,676,555$1,229,883$3,557,395
74$4,466,239$1,665,487$1,177,865$3,786,557
75$4,825,639$1,650,940$1,121,168$4,036,297
76$5,218,670$1,632,652$1,059,542$4,308,689
77$5,648,665$1,610,343$992,728$4,606,023
78$6,119,298$1,583,718$920,453$4,930,821
79$6,634,610$1,552,464$842,432$5,285,868
80$7,199,055$1,516,250$758,368$5,674,234
81$7,817,537$1,474,724$667,952$6,099,305
82$8,495,455$1,427,515$570,858$6,564,817
83$9,238,758$1,374,230$466,748$7,074,889
84$10,053,996$1,314,452$355,269$7,634,067
85$10,948,384$1,247,740$236,051$8,247,360
86$11,929,870$1,173,630$108,709$8,920,297
87$13,007,206$1,091,627$0$9,658,974
88$14,190,036$1,001,212$0$10,471,853
89$15,488,982$901,834$0$11,372,149
90$16,915,745$792,910$0$12,361,100
91$18,483,214$673,826$0$13,447,750
92$20,205,590$543,932$0$14,642,075
93$22,098,517$402,541$0$15,955,071
94$24,179,229$248,929$0$17,398,864
95$26,466,713$82,330$0$18,986,820
96$28,981,889$0$0$20,733,678
97$31,747,804$0$0$22,686,981
98$34,789,848$0$0$24,864,298
99$38,136,001$0$0$27,259,393
100$41,817,085$0$0$29,894,344