Can I retire at age 60 with 1,580,000?

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 $1,580,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$130,475$129,313$128,179$127,072$125,991$121,618
2 years$64,592$63,389$62,223$61,092$59,996$55,635
3 years$42,633$41,425$40,262$39,142$38,064$33,852
4 years$31,656$30,452$29,301$28,200$27,147$23,118
5 years$25,072$23,875$22,738$21,660$20,637$16,800
6 years$20,684$19,495$18,376$17,322$16,329$12,687
7 years$17,550$16,372$15,271$14,241$13,280$9,833
8 years$15,202$14,034$12,951$11,947$11,017$7,761
9 years$13,376$12,219$11,154$10,176$9,278$6,210
10 years$11,916$10,771$9,725$8,772$7,905$5,020
11 years$10,722$9,588$8,561$7,634$6,799$4,090
12 years$9,728$8,606$7,598$6,696$5,892$3,354
13 years$8,888$7,777$6,788$5,912$5,138$2,764
14 years$8,168$7,069$6,099$5,248$4,504$2,286
15 years$7,545$6,458$5,507$4,680$3,965$1,898
16 years$7,000$5,925$4,993$4,190$3,505$1,579
17 years$6,520$5,457$4,543$3,765$3,107$1,317
18 years$6,093$5,042$4,147$3,393$2,763$1,101
19 years$5,712$4,673$3,797$3,066$2,463$921
20 years$5,370$4,343$3,484$2,777$2,200$772
21 years$5,060$4,045$3,205$2,520$1,969$647
22 years$4,779$3,776$2,954$2,291$1,765$543
23 years$4,523$3,531$2,727$2,087$1,584$456
24 years$4,289$3,309$2,522$1,903$1,424$384
25 years$4,073$3,105$2,336$1,738$1,281$323
26 years$3,875$2,918$2,167$1,589$1,154$271
27 years$3,692$2,746$2,012$1,455$1,040$228
28 years$3,521$2,588$1,870$1,333$939$192
29 years$3,363$2,441$1,741$1,222$848$162
30 years$3,216$2,306$1,621$1,122$766$136
31 years$3,079$2,180$1,512$1,030$692$115
32 years$2,950$2,062$1,410$947$626$97
33 years$2,830$1,953$1,317$871$567$82
34 years$2,716$1,851$1,230$801$513$69
35 years$2,610$1,756$1,150$737$465$58
36 years$2,509$1,666$1,076$679$421$49
37 years$2,415$1,583$1,007$626$382$41
38 years$2,325$1,504$943$577$346$35
39 years$2,240$1,430$884$532$314$29
40 years$2,160$1,361$828$491$285$25
41 years$2,084$1,295$777$453$258$21
42 years$2,012$1,234$728$418$234$18
43 years$1,943$1,175$684$386$213$15
44 years$1,877$1,120$642$356$193$12
45 years$1,815$1,068$603$329$175$10
46 years$1,755$1,019$566$304$159$9
47 years$1,699$973$532$281$144$7
48 years$1,644$929$500$259$131$6
49 years$1,592$887$470$240$119$5
50 years$1,543$847$441$221$108$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,580,000, adding $5,149 every year, while hoping to spend $59,682 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: 68/5/27 Blend
59$1,580,000$1,580,000$1,580,000$1,580,000
60$1,746,471$1,662,731$1,638,241$1,852,659
61$1,861,110$1,680,704$1,629,621$1,942,666
62$1,985,442$1,697,557$1,618,712$2,033,837
63$2,120,392$1,713,172$1,605,374$2,132,227
64$2,266,979$1,727,425$1,589,461$2,238,553
65$2,426,323$1,740,180$1,570,820$2,353,603
66$2,599,655$1,751,296$1,549,289$2,478,250
67$2,788,331$1,760,621$1,524,702$2,613,453
68$2,993,842$1,767,993$1,496,881$2,760,273
69$3,217,831$1,773,242$1,465,643$2,919,881
70$3,462,103$1,776,183$1,430,795$3,093,566
71$3,728,646$1,776,625$1,392,136$3,282,752
72$4,019,649$1,774,361$1,349,453$3,489,009
73$4,337,520$1,769,172$1,302,527$3,714,071
74$4,684,913$1,760,827$1,251,128$3,959,847
75$5,064,746$1,749,079$1,195,012$4,228,445
76$5,480,234$1,733,668$1,133,929$4,522,192
77$5,934,916$1,714,317$1,067,614$4,843,651
78$6,432,691$1,690,731$995,793$5,195,650
79$6,977,850$1,662,601$918,176$5,581,310
80$7,575,119$1,629,597$834,463$6,004,072
81$8,229,704$1,591,370$744,341$6,467,730
82$8,947,337$1,547,551$647,479$6,976,469
83$9,734,332$1,497,747$543,536$7,534,905
84$10,597,643$1,441,546$432,154$8,148,127
85$11,544,930$1,378,509$312,958$8,821,749
86$12,584,629$1,308,172$185,559$9,561,959
87$13,726,034$1,230,046$49,548$10,375,583
88$14,979,383$1,143,611$0$11,270,146
89$16,355,951$1,048,320$0$12,281,488
90$17,868,163$943,592$0$13,408,242
91$19,529,704$828,816$0$14,646,339
92$21,355,649$703,344$0$16,007,043
93$23,362,610$566,492$0$17,502,765
94$25,568,884$417,538$0$19,147,176
95$27,994,631$255,719$0$20,955,343
96$30,662,063$80,228$0$22,943,868
97$33,595,651$0$0$25,131,041
98$36,822,355$0$0$27,543,059
99$40,371,881$0$0$30,201,352
100$44,276,959$0$0$33,126,032