Can I retire at age 60 with 1,620,000?

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 $1,620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$133,778$132,586$131,424$130,289$129,181$125,905
2 years$66,227$64,993$63,798$62,639$61,515$58,235
3 years$43,713$42,474$41,282$40,133$39,028$35,847
4 years$32,458$31,223$30,042$28,914$27,835$24,778
5 years$25,707$24,479$23,314$22,209$21,160$18,235
6 years$21,207$19,989$18,841$17,760$16,743$13,954
7 years$17,995$16,787$15,657$14,602$13,616$10,963
8 years$15,586$14,389$13,279$12,249$11,296$8,777
9 years$13,714$12,528$11,437$10,434$9,513$7,126
10 years$12,217$11,043$9,971$8,994$8,106$5,848
11 years$10,994$9,831$8,778$7,827$6,971$4,839
12 years$9,974$8,824$7,790$6,866$6,041$4,031
13 years$9,113$7,974$6,960$6,061$5,268$3,376
14 years$8,375$7,248$6,254$5,381$4,618$2,840
15 years$7,736$6,622$5,646$4,798$4,066$2,397
16 years$7,177$6,075$5,119$4,297$3,593$2,030
17 years$6,685$5,595$4,658$3,860$3,186$1,723
18 years$6,248$5,170$4,252$3,479$2,833$1,465
19 years$5,857$4,791$3,893$3,144$2,525$1,249
20 years$5,506$4,452$3,573$2,847$2,255$1,065
21 years$5,189$4,147$3,286$2,584$2,018$910
22 years$4,900$3,871$3,029$2,349$1,809$779
23 years$4,638$3,621$2,797$2,140$1,624$666
24 years$4,397$3,392$2,586$1,951$1,460$571
25 years$4,177$3,184$2,395$1,782$1,314$489
26 years$3,973$2,992$2,222$1,630$1,183$420
27 years$3,785$2,816$2,063$1,492$1,067$360
28 years$3,611$2,653$1,918$1,367$963$309
29 years$3,449$2,503$1,785$1,253$869$266
30 years$3,298$2,364$1,662$1,150$785$228
31 years$3,157$2,235$1,550$1,056$710$196
32 years$3,025$2,115$1,446$971$642$168
33 years$2,901$2,003$1,350$893$581$145
34 years$2,785$1,898$1,261$821$526$125
35 years$2,676$1,800$1,179$756$477$107
36 years$2,573$1,709$1,103$696$432$92
37 years$2,476$1,623$1,033$642$391$79
38 years$2,384$1,542$967$591$355$68
39 years$2,297$1,467$906$545$322$59
40 years$2,215$1,395$849$503$292$50
41 years$2,137$1,328$796$464$265$43
42 years$2,062$1,265$747$428$240$37
43 years$1,992$1,205$701$395$218$32
44 years$1,925$1,149$658$365$198$28
45 years$1,861$1,095$618$337$180$24
46 years$1,800$1,045$580$311$163$20
47 years$1,742$997$545$288$148$18
48 years$1,686$952$512$266$135$15
49 years$1,633$909$481$246$122$13
50 years$1,582$868$453$227$111$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,620,000, adding $2,489 every year, while hoping to spend $50,427 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: 36/46/18 Blend
59$1,620,000$1,620,000$1,620,000$1,620,000
60$1,787,807$1,701,947$1,676,837$1,842,291
61$1,916,510$1,731,689$1,679,358$1,911,841
62$2,056,650$1,761,198$1,680,272$1,981,957
63$2,209,341$1,790,409$1,679,474$2,056,593
64$2,375,808$1,819,253$1,676,850$2,136,182
65$2,557,400$1,847,656$1,672,284$2,221,200
66$2,755,601$1,875,538$1,665,652$2,312,176
67$2,972,044$1,902,811$1,656,824$2,409,691
68$3,208,530$1,929,386$1,645,664$2,514,389
69$3,467,037$1,955,163$1,632,031$2,626,983
70$3,749,745$1,980,037$1,615,775$2,748,259
71$4,059,056$2,003,895$1,596,740$2,879,087
72$4,397,612$2,026,618$1,574,763$3,020,425
73$4,768,323$2,048,077$1,549,672$3,173,336
74$5,174,394$2,068,135$1,521,289$3,338,991
75$5,619,356$2,086,647$1,489,425$3,518,687
76$6,107,094$2,103,457$1,453,885$3,713,853
77$6,641,890$2,118,399$1,414,463$3,926,069
78$7,228,460$2,131,298$1,370,944$4,157,083
79$7,871,997$2,141,965$1,323,104$4,408,821
80$8,578,220$2,150,201$1,270,708$4,683,414
81$9,353,432$2,155,794$1,213,510$4,983,213
82$10,204,572$2,158,518$1,151,253$5,310,816
83$11,139,287$2,158,134$1,083,669$5,669,090
84$12,166,000$2,154,388$1,010,477$6,061,202
85$13,293,988$2,147,009$931,384$6,490,648
86$14,533,473$2,135,711$846,084$6,961,289
87$15,895,716$2,120,189$754,256$7,477,385
88$17,393,122$2,100,121$655,567$8,043,640
89$19,039,358$2,075,166$549,667$8,665,247
90$20,849,484$2,044,960$436,191$9,347,938
91$22,840,087$2,009,119$314,760$10,098,037
92$25,029,447$1,967,237$184,975$10,922,526
93$27,437,701$1,918,882$46,422$11,829,109
94$30,087,038$1,863,598$0$12,826,288
95$33,001,903$1,800,902$0$13,942,927
96$36,209,234$1,730,282$0$15,180,676
97$39,738,708$1,651,198$0$16,542,124
98$43,623,026$1,563,077$0$18,039,966
99$47,898,221$1,465,314$0$19,688,203
100$52,603,993$1,357,268$0$21,502,277