Can I retire at age 60 with 1,720,000?

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 $1,720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$142,036$140,771$139,536$138,332$137,155$133,461
2 years$70,315$69,005$67,736$66,506$65,312$61,616
3 years$46,411$45,096$43,830$42,611$41,437$37,855
4 years$34,461$33,150$31,897$30,699$29,553$26,113
5 years$27,293$25,990$24,753$23,580$22,466$19,178
6 years$22,516$21,223$20,004$18,857$17,776$14,643
7 years$19,106$17,823$16,624$15,503$14,457$11,478
8 years$16,549$15,278$14,098$13,005$11,993$9,168
9 years$14,561$13,302$12,143$11,078$10,100$7,425
10 years$12,972$11,725$10,586$9,549$8,606$6,078
11 years$11,672$10,438$9,320$8,310$7,401$5,017
12 years$10,590$9,369$8,271$7,289$6,414$4,168
13 years$9,675$8,466$7,390$6,435$5,593$3,482
14 years$8,892$7,696$6,640$5,713$4,903$2,921
15 years$8,213$7,030$5,995$5,095$4,317$2,459
16 years$7,620$6,450$5,435$4,562$3,815$2,076
17 years$7,098$5,940$4,946$4,099$3,383$1,757
18 years$6,633$5,489$4,515$3,694$3,008$1,490
19 years$6,219$5,087$4,133$3,338$2,681$1,266
20 years$5,846$4,727$3,793$3,023$2,395$1,077
21 years$5,509$4,403$3,489$2,743$2,143$917
22 years$5,203$4,110$3,216$2,494$1,921$782
23 years$4,924$3,844$2,969$2,272$1,724$667
24 years$4,669$3,602$2,746$2,072$1,550$570
25 years$4,434$3,380$2,543$1,892$1,395$487
26 years$4,218$3,177$2,359$1,730$1,256$416
27 years$4,019$2,990$2,190$1,584$1,133$356
28 years$3,834$2,817$2,036$1,451$1,022$305
29 years$3,661$2,658$1,895$1,331$923$261
30 years$3,501$2,510$1,765$1,221$834$223
31 years$3,352$2,373$1,645$1,121$754$191
32 years$3,212$2,245$1,535$1,031$682$164
33 years$3,080$2,126$1,433$948$617$140
34 years$2,957$2,015$1,339$872$559$120
35 years$2,841$1,911$1,252$803$506$103
36 years$2,732$1,814$1,171$739$459$88
37 years$2,629$1,723$1,096$681$416$76
38 years$2,531$1,637$1,027$628$377$65
39 years$2,439$1,557$962$579$342$56
40 years$2,352$1,481$902$534$310$48
41 years$2,269$1,410$845$493$281$41
42 years$2,190$1,343$793$455$255$35
43 years$2,115$1,280$744$420$232$30
44 years$2,044$1,220$699$388$210$26
45 years$1,976$1,163$656$358$191$22
46 years$1,911$1,110$616$331$173$19
47 years$1,849$1,059$579$305$157$16
48 years$1,790$1,011$544$282$143$14
49 years$1,733$965$511$261$130$12
50 years$1,679$922$481$241$118$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,720,000, adding $6,026 every year, while hoping to spend $31,003 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: 73/12/15 Blend
59$1,720,000$1,720,000$1,720,000$1,720,000
60$1,901,656$1,810,496$1,783,836$2,033,720
61$2,062,638$1,866,223$1,810,607$2,177,735
62$2,239,001$1,923,642$1,837,237$2,331,057
63$2,432,281$1,982,803$1,863,686$2,498,182
64$2,644,170$2,043,757$1,889,916$2,680,472
65$2,876,532$2,106,557$1,915,885$2,879,426
66$3,131,418$2,171,258$1,941,547$3,096,695
67$3,411,089$2,237,916$1,966,855$3,334,097
68$3,718,035$2,306,589$1,991,759$3,593,635
69$4,054,998$2,377,335$2,016,207$3,877,514
70$4,425,000$2,450,217$2,040,142$4,188,164
71$4,831,368$2,525,296$2,063,505$4,528,262
72$5,277,769$2,602,637$2,086,234$4,900,754
73$5,768,242$2,682,306$2,108,263$5,308,888
74$6,307,235$2,764,371$2,129,522$5,756,241
75$6,899,650$2,848,903$2,149,938$6,246,754
76$7,550,888$2,935,972$2,169,435$6,784,768
77$8,266,897$3,025,654$2,187,929$7,375,066
78$9,054,232$3,118,023$2,205,337$8,022,918
79$9,920,116$3,213,157$2,221,567$8,734,128
80$10,872,503$3,311,137$2,236,525$9,515,093
81$11,920,160$3,412,046$2,250,111$10,372,860
82$13,072,747$3,515,966$2,262,220$11,315,194
83$14,340,905$3,622,986$2,272,742$12,350,648
84$15,736,358$3,733,193$2,281,560$13,488,651
85$17,272,028$3,846,681$2,288,553$14,739,586
86$18,962,148$3,963,542$2,293,593$16,114,899
87$20,822,405$4,083,873$2,296,546$17,627,199
88$22,870,080$4,207,773$2,297,271$19,290,379
89$25,124,218$4,335,343$2,295,619$21,119,750
90$27,605,801$4,466,688$2,291,435$23,132,181
91$30,337,952$4,601,915$2,284,557$25,346,261
92$33,346,148$4,741,133$2,274,814$27,782,474
93$36,658,461$4,884,455$2,262,027$30,463,389
94$40,305,828$5,031,997$2,246,008$33,413,877
95$44,322,334$5,183,876$2,226,561$36,661,347
96$48,745,541$5,340,215$2,203,480$40,235,996
97$53,616,838$5,501,138$2,176,549$44,171,105
98$58,981,835$5,666,773$2,145,543$48,503,344
99$64,890,787$5,837,250$2,110,224$53,273,124
100$71,399,076$6,012,704$2,070,345$58,524,974