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

Use the below retirement simulation to view the chances of a successful retirement.
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%19.6%
1 years$160,203$158,776$157,384$156,025$154,698$148,737
2 years$79,309$77,832$76,400$75,012$73,666$67,731
3 years$52,347$50,864$49,436$48,061$46,737$41,015
4 years$38,869$37,390$35,977$34,625$33,333$27,868
5 years$30,784$29,314$27,919$26,596$25,339$20,145
6 years$25,396$23,937$22,563$21,269$20,050$15,130
7 years$21,549$20,103$18,750$17,486$16,306$11,659
8 years$18,665$17,232$15,901$14,669$13,527$9,149
9 years$16,423$15,003$13,696$12,494$11,392$7,275
10 years$14,631$13,225$11,940$10,770$9,707$5,844
11 years$13,165$11,773$10,512$9,373$8,348$4,731
12 years$11,945$10,567$9,329$8,222$7,234$3,853
13 years$10,913$9,549$8,335$7,259$6,308$3,153
14 years$10,029$8,680$7,489$6,443$5,530$2,591
15 years$9,264$7,929$6,762$5,746$4,869$2,135
16 years$8,595$7,275$6,130$5,145$4,303$1,764
17 years$8,005$6,700$5,578$4,623$3,816$1,460
18 years$7,482$6,191$5,092$4,166$3,393$1,211
19 years$7,014$5,738$4,662$3,765$3,024$1,006
20 years$6,593$5,332$4,278$3,409$2,701$836
21 years$6,213$4,967$3,935$3,094$2,417$696
22 years$5,868$4,636$3,627$2,813$2,167$580
23 years$5,554$4,336$3,349$2,562$1,945$483
24 years$5,266$4,063$3,097$2,337$1,748$403
25 years$5,002$3,813$2,869$2,134$1,573$336
26 years$4,758$3,583$2,660$1,951$1,417$280
27 years$4,533$3,372$2,470$1,786$1,277$234
28 years$4,324$3,178$2,297$1,637$1,153$195
29 years$4,130$2,998$2,137$1,501$1,041$163
30 years$3,949$2,831$1,991$1,377$940$136
31 years$3,780$2,676$1,856$1,265$850$114
32 years$3,622$2,532$1,732$1,163$769$95
33 years$3,474$2,398$1,617$1,069$696$80
34 years$3,335$2,273$1,511$984$630$66
35 years$3,204$2,156$1,412$905$571$56
36 years$3,081$2,046$1,321$834$517$46
37 years$2,965$1,943$1,237$768$469$39
38 years$2,855$1,847$1,158$708$425$32
39 years$2,751$1,756$1,085$653$385$27
40 years$2,652$1,671$1,017$602$350$23
41 years$2,559$1,591$954$556$317$19
42 years$2,470$1,515$894$513$288$16
43 years$2,385$1,443$839$473$261$13
44 years$2,305$1,376$788$437$237$11
45 years$2,228$1,312$740$404$215$9
46 years$2,155$1,251$695$373$195$8
47 years$2,086$1,194$653$345$177$6
48 years$2,019$1,140$613$318$161$5
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 $3,235 every year, while hoping to spend $28,769 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: 79/15/6 Blend
59$1,940,000$1,940,000$1,940,000$1,940,000
60$2,141,217$2,038,397$2,008,327$2,309,079
61$2,329,011$2,107,668$2,044,996$2,488,795
62$2,534,996$2,179,370$2,081,929$2,681,781
63$2,760,997$2,253,590$2,119,105$2,892,606
64$3,009,024$2,330,421$2,156,500$3,123,034
65$3,281,291$2,409,959$2,194,090$3,375,006
66$3,580,238$2,492,303$2,231,847$3,650,659
67$3,908,552$2,577,555$2,269,744$3,952,349
68$4,269,193$2,665,823$2,307,748$4,282,665
69$4,665,420$2,757,219$2,345,828$4,644,463
70$5,100,828$2,851,857$2,383,948$5,040,886
71$5,579,372$2,949,858$2,422,070$5,475,396
72$6,105,413$3,051,345$2,460,154$5,951,806
73$6,683,753$3,156,450$2,498,158$6,474,314
74$7,319,686$3,265,306$2,536,036$7,047,548
75$8,019,040$3,378,052$2,573,739$7,676,600
76$8,788,241$3,494,835$2,611,218$8,367,084
77$9,634,364$3,615,805$2,648,417$9,125,182
78$10,565,208$3,741,118$2,685,278$9,957,702
79$11,589,365$3,870,939$2,721,740$10,872,148
80$12,716,301$4,005,435$2,757,739$11,876,782
81$13,956,446$4,144,784$2,793,205$12,980,710
82$15,321,292$4,289,167$2,828,067$14,193,960
83$16,823,504$4,438,776$2,862,247$15,527,582
84$18,477,034$4,593,809$2,895,664$16,993,750
85$20,297,256$4,754,470$2,928,234$18,605,876
86$22,301,111$4,920,974$2,959,864$20,378,735
87$24,507,265$5,093,543$2,990,461$22,328,609
88$26,936,288$5,272,408$3,019,923$24,473,433
89$29,610,843$5,457,810$3,048,144$26,832,970
90$32,555,905$5,649,999$3,075,013$29,428,996
91$35,798,994$5,849,235$3,100,412$32,285,502
92$39,370,432$6,055,788$3,124,217$35,428,922
93$43,303,636$6,269,941$3,146,298$38,888,384
94$47,635,424$6,491,986$3,166,517$42,695,979
95$52,406,372$6,722,228$3,184,730$46,887,070
96$57,661,189$6,960,985$3,200,785$51,500,621
97$63,449,143$7,208,585$3,214,524$56,579,566
98$69,824,523$7,465,373$3,225,778$62,171,213
99$76,847,153$7,731,705$3,234,371$68,327,688
100$84,582,959$8,007,955$3,240,118$75,106,432