Can I retire at age 60 with 1,840,000?

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 $1,840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$151,945$150,592$149,272$147,983$146,724$145,861
2 years$75,221$73,820$72,462$71,146$69,869$68,997
3 years$49,649$48,242$46,888$45,584$44,328$43,476
4 years$36,866$35,463$34,122$32,840$31,615$30,789
5 years$29,198$27,803$26,480$25,225$24,033$23,235
6 years$24,087$22,704$21,400$20,172$19,017$18,248
7 years$20,438$19,066$17,783$16,585$15,466$14,727
8 years$17,703$16,343$15,082$13,913$12,830$12,121
9 years$15,577$14,230$12,990$11,850$10,805$10,125
10 years$13,877$12,543$11,325$10,215$9,206$8,556
11 years$12,487$11,166$9,970$8,890$7,918$7,296
12 years$11,329$10,022$8,848$7,798$6,861$6,268
13 years$10,350$9,057$7,905$6,884$5,983$5,418
14 years$9,512$8,233$7,103$6,111$5,245$4,706
15 years$8,786$7,521$6,413$5,450$4,618$4,106
16 years$8,152$6,900$5,814$4,880$4,081$3,595
17 years$7,593$6,355$5,291$4,385$3,619$3,157
18 years$7,096$5,872$4,830$3,951$3,218$2,780
19 years$6,652$5,442$4,422$3,570$2,868$2,454
20 years$6,254$5,057$4,058$3,234$2,562$2,170
21 years$5,893$4,711$3,732$2,935$2,292$1,922
22 years$5,566$4,397$3,440$2,668$2,055$1,705
23 years$5,268$4,113$3,176$2,430$1,845$1,515
24 years$4,995$3,853$2,938$2,216$1,658$1,347
25 years$4,744$3,616$2,721$2,024$1,492$1,199
26 years$4,513$3,398$2,523$1,851$1,344$1,069
27 years$4,299$3,198$2,343$1,694$1,212$953
28 years$4,101$3,014$2,178$1,552$1,093$851
29 years$3,917$2,843$2,027$1,423$987$760
30 years$3,745$2,685$1,888$1,306$892$679
31 years$3,585$2,538$1,760$1,200$806$607
32 years$3,436$2,402$1,642$1,103$729$543
33 years$3,295$2,274$1,533$1,014$660$485
34 years$3,163$2,156$1,433$933$598$434
35 years$3,039$2,045$1,340$859$541$389
36 years$2,922$1,941$1,253$791$491$348
37 years$2,812$1,843$1,173$729$445$312
38 years$2,708$1,752$1,098$672$403$280
39 years$2,609$1,666$1,029$619$365$251
40 years$2,516$1,585$965$571$332$225
41 years$2,427$1,509$904$527$301$201
42 years$2,343$1,437$848$486$273$180
43 years$2,262$1,369$796$449$248$162
44 years$2,186$1,305$747$415$225$145
45 years$2,114$1,244$702$383$204$130
46 years$2,044$1,187$659$354$185$117
47 years$1,978$1,133$619$327$168$105
48 years$1,915$1,081$582$302$153$94
49 years$1,854$1,033$547$279$139$84
50 years$1,796$986$514$258$126$76

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,840,000, adding $6,689 every year, while hoping to spend $20,367 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: 39/45/16 Blend
59$1,840,000$1,840,000$1,840,000$1,840,000
60$2,034,580$1,937,060$1,908,540$2,103,943
61$2,220,437$2,010,305$1,950,805$2,227,305
62$2,424,568$2,086,457$1,993,804$2,358,140
63$2,648,817$2,165,637$2,037,540$2,499,174
64$2,895,213$2,247,969$2,082,014$2,651,338
65$3,165,992$2,333,587$2,127,229$2,815,657
66$3,463,618$2,422,628$2,173,186$2,993,254
67$3,790,805$2,515,234$2,219,885$3,185,362
68$4,150,542$2,611,556$2,267,327$3,393,339
69$4,546,125$2,711,750$2,315,509$3,618,673
70$4,981,182$2,815,978$2,364,431$3,863,002
71$5,459,712$2,924,411$2,414,090$4,128,122
72$5,986,122$3,037,226$2,464,481$4,416,012
73$6,565,265$3,154,609$2,515,600$4,728,845
74$7,202,491$3,276,753$2,567,441$5,069,009
75$7,903,692$3,403,861$2,619,998$5,439,132
76$8,675,362$3,536,144$2,673,261$5,842,103
77$9,524,655$3,673,821$2,727,221$6,281,098
78$10,459,455$3,817,123$2,781,868$6,759,614
79$11,488,448$3,966,291$2,837,189$7,281,495
80$12,621,205$4,121,575$2,893,171$7,850,971
81$13,868,273$4,283,237$2,949,797$8,472,694
82$15,241,273$4,451,552$3,007,051$9,151,788
83$16,753,009$4,626,804$3,064,914$9,893,886
84$18,417,592$4,809,294$3,123,365$10,705,191
85$20,250,570$4,999,332$3,182,380$11,592,528
86$22,269,074$5,197,245$3,241,936$12,563,410
87$24,491,983$5,403,374$3,302,005$13,626,108
88$26,940,101$5,618,074$3,362,557$14,789,725
89$29,636,349$5,841,718$3,423,560$16,064,283
90$32,605,987$6,074,693$3,484,981$17,460,816
91$35,876,851$6,317,406$3,546,781$18,991,472
92$39,479,613$6,570,282$3,608,920$20,669,629
93$43,448,070$6,833,762$3,671,356$22,510,013
94$47,819,469$7,108,312$3,734,042$24,528,843
95$52,634,850$7,394,415$3,796,928$26,743,979
96$57,939,441$7,692,578$3,859,962$29,175,089
97$63,783,080$8,003,330$3,923,086$31,843,832
98$70,220,684$8,327,223$3,986,239$34,774,063
99$77,312,774$8,664,837$4,049,358$37,992,054
100$85,126,039$9,016,776$4,112,374$41,526,741