Can I retire at age 60 with 1,640,000?

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 $1,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$135,430$134,223$133,046$131,898$130,776$127,614
2 years$67,044$65,796$64,586$63,412$62,274$59,108
3 years$44,252$42,998$41,791$40,629$39,509$36,438
4 years$32,858$31,608$30,413$29,271$28,178$25,225
5 years$26,024$24,781$23,602$22,483$21,421$18,593
6 years$21,469$20,236$19,074$17,980$16,950$14,251
7 years$18,217$16,994$15,850$14,782$13,784$11,215
8 years$15,779$14,567$13,442$12,400$11,436$8,995
9 years$13,884$12,683$11,578$10,562$9,630$7,316
10 years$12,368$11,180$10,094$9,105$8,206$6,015
11 years$11,129$9,953$8,887$7,924$7,057$4,987
12 years$10,098$8,933$7,887$6,950$6,116$4,162
13 years$9,225$8,073$7,046$6,136$5,333$3,493
14 years$8,478$7,338$6,331$5,447$4,675$2,944
15 years$7,831$6,703$5,716$4,858$4,116$2,491
16 years$7,266$6,150$5,182$4,350$3,638$2,113
17 years$6,767$5,664$4,716$3,908$3,225$1,798
18 years$6,325$5,234$4,305$3,522$2,868$1,533
19 years$5,929$4,851$3,941$3,182$2,556$1,309
20 years$5,574$4,507$3,617$2,882$2,283$1,119
21 years$5,253$4,199$3,327$2,616$2,043$958
22 years$4,961$3,919$3,066$2,378$1,832$822
23 years$4,695$3,666$2,831$2,166$1,644$705
24 years$4,452$3,434$2,618$1,976$1,478$605
25 years$4,228$3,223$2,425$1,804$1,330$520
26 years$4,022$3,029$2,249$1,650$1,198$447
27 years$3,832$2,851$2,088$1,510$1,080$385
28 years$3,655$2,686$1,941$1,383$974$331
29 years$3,491$2,534$1,807$1,269$880$285
30 years$3,338$2,393$1,683$1,164$795$245
31 years$3,196$2,262$1,569$1,069$719$211
32 years$3,062$2,141$1,464$983$650$182
33 years$2,937$2,027$1,367$904$588$157
34 years$2,819$1,921$1,277$831$533$135
35 years$2,709$1,822$1,194$765$483$117
36 years$2,605$1,730$1,117$705$437$101
37 years$2,506$1,643$1,045$650$396$87
38 years$2,413$1,561$979$599$359$75
39 years$2,325$1,485$917$552$326$64
40 years$2,242$1,412$860$509$295$56
41 years$2,163$1,345$806$470$268$48
42 years$2,088$1,281$756$434$243$41
43 years$2,017$1,220$710$400$221$36
44 years$1,949$1,163$666$370$200$31
45 years$1,884$1,109$625$341$182$27
46 years$1,822$1,058$587$315$165$23
47 years$1,763$1,010$552$291$150$20
48 years$1,707$964$519$269$136$17
49 years$1,653$920$487$249$124$15
50 years$1,601$879$458$230$112$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,640,000, adding $3,925 every year, while hoping to spend $56,012 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: 30/42/28 Blend
59$1,640,000$1,640,000$1,640,000$1,640,000
60$1,811,329$1,724,409$1,698,989$1,849,973
61$1,936,488$1,749,308$1,696,308$1,905,400
62$2,072,536$1,773,551$1,691,661$1,959,827
63$2,220,525$1,797,045$1,684,922$2,017,270
64$2,381,611$1,819,693$1,675,959$2,078,031
65$2,557,067$1,841,390$1,664,636$2,142,444
66$2,748,295$1,862,025$1,650,808$2,210,883
67$2,956,836$1,881,479$1,634,325$2,283,760
68$3,184,387$1,899,625$1,615,029$2,361,536
69$3,432,815$1,916,327$1,592,753$2,444,721
70$3,704,178$1,931,443$1,567,326$2,533,880
71$4,000,737$1,944,817$1,538,564$2,629,642
72$4,324,986$1,956,286$1,506,280$2,732,705
73$4,679,667$1,965,677$1,470,273$2,843,840
74$5,067,803$1,972,805$1,430,337$2,963,906
75$5,492,718$1,977,472$1,386,253$3,093,853
76$5,958,077$1,979,470$1,337,794$3,234,733
77$6,467,914$1,978,577$1,284,723$3,387,715
78$7,026,670$1,974,556$1,226,790$3,554,090
79$7,639,239$1,967,158$1,163,736$3,735,292
80$8,311,009$1,956,116$1,095,289$3,932,906
81$9,047,915$1,941,149$1,021,164$4,148,688
82$9,856,496$1,921,958$941,066$4,384,582
83$10,743,950$1,898,227$854,684$4,642,740
84$11,718,211$1,869,618$761,694$4,925,541
85$12,788,016$1,835,776$661,758$5,235,621
86$13,962,989$1,796,324$554,522$5,575,893
87$15,253,733$1,750,863$439,617$5,949,579
88$16,671,928$1,698,970$316,659$6,360,244
89$18,230,442$1,640,196$185,244$6,811,829
90$19,943,450$1,574,069$44,953$7,308,689
91$21,826,571$1,500,088$0$7,855,640
92$23,897,010$1,417,721$0$8,489,304
93$26,173,724$1,326,408$0$9,200,632
94$28,677,598$1,225,556$0$9,982,821
95$31,431,643$1,114,539$0$10,843,200
96$34,461,212$992,693$0$11,789,860
97$37,794,239$859,318$0$12,831,724
98$41,461,501$713,674$0$13,978,641
99$45,496,909$554,979$0$15,241,476
100$49,937,829$382,408$0$16,632,217