Can I retire at age 60 with 1,550,000?

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 $1,550,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$127,998$126,857$125,745$124,659$123,599$122,410
2 years$63,365$62,185$61,041$59,932$58,857$57,659
3 years$41,824$40,639$39,498$38,399$37,341$36,172
4 years$31,055$29,874$28,744$27,664$26,632$25,500
5 years$24,596$23,421$22,307$21,249$20,245$19,154
6 years$20,291$19,125$18,027$16,993$16,019$14,970
7 years$17,217$16,061$14,981$13,971$13,028$12,021
8 years$14,913$13,768$12,705$11,720$10,808$9,844
9 years$13,122$11,987$10,943$9,983$9,102$8,180
10 years$11,690$10,566$9,540$8,605$7,755$6,875
11 years$10,519$9,406$8,399$7,489$6,670$5,830
12 years$9,543$8,443$7,454$6,569$5,780$4,981
13 years$8,719$7,630$6,659$5,799$5,040$4,280
14 years$8,013$6,935$5,984$5,148$4,418$3,696
15 years$7,402$6,335$5,402$4,591$3,890$3,205
16 years$6,867$5,813$4,898$4,111$3,438$2,789
17 years$6,396$5,353$4,457$3,694$3,048$2,434
18 years$5,978$4,947$4,069$3,329$2,711$2,130
19 years$5,604$4,584$3,725$3,008$2,416$1,868
20 years$5,268$4,260$3,418$2,724$2,158$1,641
21 years$4,964$3,968$3,144$2,472$1,931$1,444
22 years$4,689$3,704$2,898$2,248$1,731$1,272
23 years$4,437$3,464$2,676$2,047$1,554$1,123
24 years$4,207$3,246$2,475$1,867$1,397$992
25 years$3,996$3,046$2,292$1,705$1,257$877
26 years$3,801$2,863$2,126$1,559$1,132$776
27 years$3,621$2,694$1,974$1,427$1,021$687
28 years$3,455$2,539$1,835$1,308$921$609
29 years$3,300$2,395$1,708$1,199$832$540
30 years$3,155$2,262$1,591$1,100$751$479
31 years$3,020$2,138$1,483$1,011$679$425
32 years$2,894$2,023$1,383$929$615$377
33 years$2,776$1,916$1,292$854$556$335
34 years$2,665$1,816$1,207$786$504$297
35 years$2,560$1,722$1,128$723$456$264
36 years$2,462$1,635$1,056$666$413$235
37 years$2,369$1,553$988$614$374$209
38 years$2,281$1,476$925$566$340$186
39 years$2,198$1,403$867$522$308$165
40 years$2,119$1,335$813$481$279$147
41 years$2,044$1,271$762$444$253$131
42 years$1,973$1,210$715$410$230$116
43 years$1,906$1,153$671$378$209$103
44 years$1,842$1,099$629$349$189$92
45 years$1,780$1,048$591$323$172$82
46 years$1,722$1,000$555$298$156$73
47 years$1,666$954$522$275$142$65
48 years$1,613$911$490$254$129$58
49 years$1,562$870$461$235$117$51
50 years$1,513$831$433$217$106$46

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,550,000, adding $5,980 every year, while hoping to spend $41,264 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: 51/34/15 Blend
59$1,550,000$1,550,000$1,550,000$1,550,000
60$1,714,268$1,632,118$1,608,093$1,794,404
61$1,845,219$1,668,188$1,618,060$1,886,102
62$1,988,144$1,704,641$1,626,977$1,980,914
63$2,144,221$1,741,455$1,634,767$2,083,075
64$2,314,745$1,778,600$1,641,346$2,193,290
65$2,501,146$1,816,048$1,646,628$2,312,338
66$2,704,994$1,853,765$1,650,521$2,441,075
67$2,928,019$1,891,716$1,652,929$2,580,448
68$3,172,127$1,929,860$1,653,752$2,731,496
69$3,439,416$1,968,155$1,652,884$2,895,368
70$3,732,195$2,006,554$1,650,215$3,073,328
71$4,053,010$2,045,006$1,645,629$3,266,771
72$4,404,662$2,083,456$1,639,002$3,477,232
73$4,790,238$2,121,845$1,630,209$3,706,405
74$5,213,135$2,160,109$1,619,114$3,956,157
75$5,677,098$2,198,178$1,605,578$4,228,545
76$6,186,251$2,235,977$1,589,453$4,525,838
77$6,745,135$2,273,426$1,570,586$4,850,536
78$7,358,754$2,310,439$1,548,816$5,205,396
79$8,032,618$2,346,922$1,523,973$5,593,454
80$8,772,800$2,382,776$1,495,880$6,018,062
81$9,585,987$2,417,893$1,464,354$6,482,911
82$10,479,548$2,452,160$1,429,200$6,992,071
83$11,461,599$2,485,454$1,390,215$7,550,030
84$12,541,083$2,517,642$1,347,189$8,161,734
85$13,727,853$2,548,585$1,299,898$8,832,635
86$15,032,761$2,578,134$1,248,113$9,568,745
87$16,467,767$2,606,127$1,191,589$10,376,690
88$18,046,047$2,632,394$1,130,074$11,263,775
89$19,782,115$2,656,753$1,063,304$12,238,052
90$21,691,967$2,679,010$991,000$13,308,400
91$23,793,224$2,698,958$912,875$14,484,602
92$26,105,303$2,716,377$828,627$15,777,447
93$28,649,597$2,731,032$737,938$17,198,825
94$31,449,677$2,742,674$640,481$18,761,845
95$34,531,517$2,751,038$535,910$20,480,957
96$37,923,735$2,755,842$423,866$22,372,088
97$41,657,864$2,756,787$303,974$24,452,795
98$45,768,651$2,753,554$175,841$26,742,434
99$50,294,380$2,745,805$39,059$29,262,337
100$55,277,241$2,733,183$0$32,036,022