Can I retire at age 60 with 1,940,000?

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 $1,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$160,203$158,776$157,384$156,025$154,698$148,796
2 years$79,309$77,832$76,400$75,012$73,666$67,788
3 years$52,347$50,864$49,436$48,061$46,737$41,069
4 years$38,869$37,390$35,977$34,625$33,333$27,919
5 years$30,784$29,314$27,919$26,596$25,339$20,193
6 years$25,396$23,937$22,563$21,269$20,050$15,174
7 years$21,549$20,103$18,750$17,486$16,306$11,700
8 years$18,665$17,232$15,901$14,669$13,527$9,186
9 years$16,423$15,003$13,696$12,494$11,392$7,310
10 years$14,631$13,225$11,940$10,770$9,707$5,875
11 years$13,165$11,773$10,512$9,373$8,348$4,759
12 years$11,945$10,567$9,329$8,222$7,234$3,879
13 years$10,913$9,549$8,335$7,259$6,308$3,177
14 years$10,029$8,680$7,489$6,443$5,530$2,612
15 years$9,264$7,929$6,762$5,746$4,869$2,154
16 years$8,595$7,275$6,130$5,145$4,303$1,781
17 years$8,005$6,700$5,578$4,623$3,816$1,475
18 years$7,482$6,191$5,092$4,166$3,393$1,224
19 years$7,014$5,738$4,662$3,765$3,024$1,018
20 years$6,593$5,332$4,278$3,409$2,701$847
21 years$6,213$4,967$3,935$3,094$2,417$705
22 years$5,868$4,636$3,627$2,813$2,167$588
23 years$5,554$4,336$3,349$2,562$1,945$490
24 years$5,266$4,063$3,097$2,337$1,748$409
25 years$5,002$3,813$2,869$2,134$1,573$342
26 years$4,758$3,583$2,660$1,951$1,417$285
27 years$4,533$3,372$2,470$1,786$1,277$238
28 years$4,324$3,178$2,297$1,637$1,153$199
29 years$4,130$2,998$2,137$1,501$1,041$167
30 years$3,949$2,831$1,991$1,377$940$139
31 years$3,780$2,676$1,856$1,265$850$116
32 years$3,622$2,532$1,732$1,163$769$97
33 years$3,474$2,398$1,617$1,069$696$81
34 years$3,335$2,273$1,511$984$630$68
35 years$3,204$2,156$1,412$905$571$57
36 years$3,081$2,046$1,321$834$517$48
37 years$2,965$1,943$1,237$768$469$40
38 years$2,855$1,847$1,158$708$425$33
39 years$2,751$1,756$1,085$653$385$28
40 years$2,652$1,671$1,017$602$350$23
41 years$2,559$1,591$954$556$317$20
42 years$2,470$1,515$894$513$288$16
43 years$2,385$1,443$839$473$261$14
44 years$2,305$1,376$788$437$237$11
45 years$2,228$1,312$740$404$215$10
46 years$2,155$1,251$695$373$195$8
47 years$2,086$1,194$653$345$177$7
48 years$2,019$1,140$613$318$161$6
49 years$1,955$1,089$577$294$146$5
50 years$1,894$1,040$542$272$133$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,940,000, adding $5,496 every year, while hoping to spend $43,655 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: 51/19/30 Blend
59$1,940,000$1,940,000$1,940,000$1,940,000
60$2,143,549$2,040,729$2,010,659$2,234,455
61$2,315,743$2,094,276$2,031,568$2,352,107
62$2,504,037$2,148,984$2,051,713$2,475,186
63$2,710,027$2,204,863$2,071,025$2,608,190
64$2,935,472$2,261,924$2,089,427$2,752,084
65$3,182,307$2,320,175$2,106,839$2,907,933
66$3,452,663$2,379,623$2,123,178$3,076,911
67$3,748,886$2,440,277$2,138,356$3,260,311
68$4,073,561$2,502,139$2,152,280$3,459,558
69$4,429,536$2,565,216$2,164,853$3,676,223
70$4,819,945$2,629,507$2,175,972$3,912,035
71$5,248,241$2,695,015$2,185,529$4,168,904
72$5,718,228$2,761,738$2,193,411$4,448,931
73$6,234,097$2,829,671$2,199,499$4,754,434
74$6,800,460$2,898,811$2,203,668$5,087,966
75$7,422,404$2,969,149$2,205,787$5,452,343
76$8,105,526$3,040,675$2,205,719$5,850,667
77$8,855,998$3,113,376$2,203,318$6,286,359
78$9,680,614$3,187,236$2,198,434$6,763,188
79$10,586,863$3,262,236$2,190,907$7,285,310
80$11,582,991$3,338,355$2,180,571$7,857,303
81$12,678,088$3,415,565$2,167,251$8,484,216
82$13,882,163$3,493,839$2,150,765$9,171,614
83$15,206,248$3,573,141$2,130,919$9,925,629
84$16,662,495$3,653,434$2,107,515$10,753,022
85$18,264,293$3,734,676$2,080,340$11,661,245
86$20,026,394$3,816,819$2,049,175$12,658,510
87$21,965,053$3,899,810$2,013,789$13,753,871
88$24,098,178$3,983,590$1,973,941$14,957,307
89$26,445,502$4,068,095$1,929,377$16,279,817
90$29,028,765$4,153,254$1,879,834$17,733,524
91$31,871,925$4,238,990$1,825,034$19,331,791
92$35,001,378$4,325,217$1,764,689$21,089,347
93$38,446,208$4,411,842$1,698,495$23,022,425
94$42,238,463$4,498,764$1,626,137$25,148,920
95$46,413,457$4,585,874$1,547,283$27,488,554
96$51,010,100$4,673,052$1,461,588$30,063,065
97$56,071,269$4,760,170$1,368,689$32,896,412
98$61,644,208$4,847,088$1,268,210$36,015,004
99$67,780,977$4,933,656$1,159,756$39,447,948
100$74,538,943$5,019,711$1,042,913$43,227,324