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%15.5%
1 years$160,203$158,776$157,384$156,025$154,698$151,204
2 years$79,309$77,832$76,400$75,012$73,666$70,164
3 years$52,347$50,864$49,436$48,061$46,737$43,337
4 years$38,869$37,390$35,977$34,625$33,333$30,062
5 years$30,784$29,314$27,919$26,596$25,339$22,205
6 years$25,396$23,937$22,563$21,269$20,050$17,056
7 years$21,549$20,103$18,750$17,486$16,306$13,454
8 years$18,665$17,232$15,901$14,669$13,527$10,815
9 years$16,423$15,003$13,696$12,494$11,392$8,818
10 years$14,631$13,225$11,940$10,770$9,707$7,267
11 years$13,165$11,773$10,512$9,373$8,348$6,041
12 years$11,945$10,567$9,329$8,222$7,234$5,055
13 years$10,913$9,549$8,335$7,259$6,308$4,254
14 years$10,029$8,680$7,489$6,443$5,530$3,595
15 years$9,264$7,929$6,762$5,746$4,869$3,050
16 years$8,595$7,275$6,130$5,145$4,303$2,595
17 years$8,005$6,700$5,578$4,623$3,816$2,214
18 years$7,482$6,191$5,092$4,166$3,393$1,893
19 years$7,014$5,738$4,662$3,765$3,024$1,621
20 years$6,593$5,332$4,278$3,409$2,701$1,391
21 years$6,213$4,967$3,935$3,094$2,417$1,195
22 years$5,868$4,636$3,627$2,813$2,167$1,027
23 years$5,554$4,336$3,349$2,562$1,945$884
24 years$5,266$4,063$3,097$2,337$1,748$762
25 years$5,002$3,813$2,869$2,134$1,573$657
26 years$4,758$3,583$2,660$1,951$1,417$566
27 years$4,533$3,372$2,470$1,786$1,277$489
28 years$4,324$3,178$2,297$1,637$1,153$422
29 years$4,130$2,998$2,137$1,501$1,041$365
30 years$3,949$2,831$1,991$1,377$940$315
31 years$3,780$2,676$1,856$1,265$850$272
32 years$3,622$2,532$1,732$1,163$769$235
33 years$3,474$2,398$1,617$1,069$696$203
34 years$3,335$2,273$1,511$984$630$176
35 years$3,204$2,156$1,412$905$571$152
36 years$3,081$2,046$1,321$834$517$132
37 years$2,965$1,943$1,237$768$469$114
38 years$2,855$1,847$1,158$708$425$99
39 years$2,751$1,756$1,085$653$385$85
40 years$2,652$1,671$1,017$602$350$74
41 years$2,559$1,591$954$556$317$64
42 years$2,470$1,515$894$513$288$55
43 years$2,385$1,443$839$473$261$48
44 years$2,305$1,376$788$437$237$41
45 years$2,228$1,312$740$404$215$36
46 years$2,155$1,251$695$373$195$31
47 years$2,086$1,194$653$345$177$27
48 years$2,019$1,140$613$318$161$23
49 years$1,955$1,089$577$294$146$20
50 years$1,894$1,040$542$272$133$17

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 $5,863 every year, while hoping to spend $21,746 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: 78/12/10 Blend
59$1,940,000$1,940,000$1,940,000$1,940,000
60$2,143,928$2,041,108$2,011,038$2,307,073
61$2,339,471$2,117,984$2,055,270$2,491,994
62$2,554,230$2,197,899$2,100,255$2,691,366
63$2,790,144$2,280,978$2,145,995$2,909,400
64$3,049,345$2,367,352$2,192,493$3,147,946
65$3,334,184$2,457,159$2,239,747$3,409,042
66$3,647,252$2,550,541$2,287,760$3,694,933
67$3,991,402$2,647,648$2,336,531$4,008,091
68$4,369,778$2,748,635$2,386,057$4,351,236
69$4,785,842$2,853,665$2,436,336$4,727,366
70$5,243,410$2,962,907$2,487,366$5,139,782
71$5,746,687$3,076,539$2,539,142$5,592,119
72$6,300,305$3,194,745$2,591,659$6,088,382
73$6,909,366$3,317,717$2,644,910$6,632,981
74$7,579,494$3,445,658$2,698,887$7,230,774
75$8,316,885$3,578,777$2,753,582$7,887,112
76$9,128,364$3,717,294$2,808,984$8,607,889
77$10,021,453$3,861,438$2,865,081$9,399,599
78$11,004,441$4,011,448$2,921,860$10,269,393
79$12,086,458$4,167,573$2,979,307$11,225,152
80$13,277,567$4,330,075$3,037,404$12,275,555
81$14,588,856$4,499,225$3,096,134$13,430,165
82$16,032,541$4,675,309$3,155,476$14,699,518
83$17,622,084$4,858,623$3,215,408$16,095,219
84$19,372,318$5,049,477$3,275,906$17,630,055
85$21,299,589$5,248,196$3,336,944$19,318,115
86$23,421,907$5,455,118$3,398,491$21,174,920
87$25,759,119$5,670,596$3,460,518$23,217,569
88$28,333,095$5,895,000$3,522,991$25,464,905
89$31,167,932$6,128,717$3,585,872$27,937,686
90$34,290,185$6,372,148$3,649,123$30,658,784
91$37,729,117$6,625,716$3,712,702$33,653,402
92$41,516,972$6,889,861$3,776,562$36,949,305
93$45,689,281$7,165,043$3,840,656$40,577,088
94$50,285,200$7,451,743$3,904,930$44,570,464
95$55,347,875$7,750,462$3,969,329$48,966,575
96$60,924,850$8,061,727$4,033,794$53,806,350
97$67,068,519$8,386,085$4,098,260$59,134,886
98$73,836,616$8,724,112$4,162,660$65,001,876
99$81,292,763$9,076,405$4,226,921$71,462,073
100$89,507,068$9,443,593$4,290,967$78,575,813