Can I retire at age 60 with 1,950,000?

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 $1,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$161,029$159,595$158,195$156,829$155,496$152,419
2 years$79,717$78,233$76,794$75,399$74,046$70,958
3 years$52,617$51,126$49,691$48,309$46,978$43,977
4 years$39,070$37,583$36,162$34,804$33,505$30,613
5 years$30,943$29,466$28,063$26,733$25,470$22,696
6 years$25,527$24,061$22,679$21,378$20,153$17,500
7 years$21,660$20,206$18,847$17,576$16,390$13,858
8 years$18,761$17,320$15,983$14,744$13,597$11,185
9 years$16,508$15,081$13,767$12,559$11,451$9,158
10 years$14,706$13,293$12,002$10,826$9,757$7,581
11 years$13,233$11,834$10,566$9,422$8,391$6,329
12 years$12,006$10,621$9,377$8,264$7,271$5,321
13 years$10,969$9,599$8,378$7,296$6,341$4,498
14 years$10,081$8,725$7,528$6,477$5,558$3,820
15 years$9,312$7,970$6,797$5,776$4,894$3,256
16 years$8,639$7,313$6,162$5,172$4,325$2,785
17 years$8,047$6,735$5,607$4,647$3,835$2,388
18 years$7,520$6,223$5,119$4,188$3,410$2,052
19 years$7,050$5,768$4,686$3,784$3,039$1,767
20 years$6,627$5,359$4,300$3,427$2,715$1,524
21 years$6,245$4,992$3,956$3,110$2,430$1,316
22 years$5,899$4,660$3,646$2,828$2,178$1,137
23 years$5,583$4,358$3,366$2,575$1,955$984
24 years$5,293$4,084$3,113$2,349$1,757$853
25 years$5,027$3,832$2,883$2,145$1,581$739
26 years$4,782$3,602$2,674$1,961$1,424$641
27 years$4,556$3,390$2,483$1,795$1,284$556
28 years$4,346$3,194$2,308$1,645$1,159$483
29 years$4,151$3,013$2,148$1,508$1,046$420
30 years$3,969$2,846$2,001$1,384$945$365
31 years$3,800$2,690$1,865$1,271$855$317
32 years$3,641$2,545$1,741$1,169$773$276
33 years$3,492$2,410$1,625$1,075$700$240
34 years$3,352$2,285$1,518$989$633$209
35 years$3,221$2,167$1,420$910$574$181
36 years$3,097$2,057$1,328$838$520$158
37 years$2,980$1,953$1,243$772$471$137
38 years$2,870$1,856$1,164$712$427$120
39 years$2,765$1,765$1,091$656$387$104
40 years$2,666$1,679$1,022$605$351$91
41 years$2,572$1,599$958$559$319$79
42 years$2,483$1,523$899$515$289$69
43 years$2,398$1,451$844$476$262$60
44 years$2,317$1,383$792$439$238$52
45 years$2,240$1,319$744$406$216$45
46 years$2,166$1,258$698$375$196$40
47 years$2,096$1,200$656$346$178$34
48 years$2,029$1,146$617$320$162$30
49 years$1,965$1,094$580$296$147$26
50 years$1,904$1,045$545$273$134$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,950,000, adding $3,772 every year, while hoping to spend $23,085 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: 59/21/20 Blend
59$1,950,000$1,950,000$1,950,000$1,950,000
60$2,152,791$2,049,441$2,019,216$2,268,245
61$2,347,813$2,125,301$2,062,297$2,422,856
62$2,561,954$2,204,105$2,106,048$2,588,549
63$2,797,139$2,285,972$2,150,467$2,768,739
64$3,055,490$2,371,027$2,195,550$2,964,833
65$3,339,344$2,459,401$2,241,295$3,178,378
66$3,651,275$2,551,230$2,287,696$3,411,076
67$3,994,119$2,646,654$2,334,748$3,664,803
68$4,371,001$2,745,822$2,382,444$3,941,621
69$4,785,364$2,848,889$2,430,777$4,243,801
70$5,241,001$2,956,013$2,479,737$4,573,842
71$5,742,089$3,067,365$2,529,315$4,934,495
72$6,293,234$3,183,117$2,579,498$5,328,792
73$6,899,507$3,303,453$2,630,275$5,760,067
74$7,566,497$3,428,562$2,681,629$6,231,993
75$8,300,363$3,558,645$2,733,547$6,748,614
76$9,107,888$3,693,907$2,786,009$7,314,384
77$9,996,549$3,834,564$2,838,996$7,934,206
78$10,974,582$3,980,843$2,892,488$8,613,483
79$12,051,064$4,132,979$2,946,461$9,358,161
80$13,235,995$4,291,218$3,000,890$10,174,793
81$14,540,394$4,455,815$3,055,748$11,070,593
82$15,976,404$4,627,039$3,111,004$12,053,509
83$17,557,402$4,805,169$3,166,628$13,132,294
84$19,298,131$4,990,497$3,222,584$14,316,592
85$21,214,836$5,183,326$3,278,836$15,617,022
86$23,325,416$5,383,976$3,335,343$17,045,286
87$25,649,595$5,592,777$3,392,064$18,614,271
88$28,209,107$5,810,077$3,448,952$20,338,177
89$31,027,902$6,036,237$3,505,958$22,232,643
90$34,132,371$6,271,635$3,563,030$24,314,901
91$37,551,593$6,516,665$3,620,112$26,603,934
92$41,317,614$6,771,741$3,677,144$29,120,656
93$45,465,746$7,037,291$3,734,064$31,888,108
94$50,034,899$7,313,766$3,790,803$34,931,674
95$55,067,954$7,601,635$3,847,289$38,279,322
96$60,612,159$7,901,389$3,903,447$41,961,865
97$66,719,582$8,213,540$3,959,195$46,013,253
98$73,447,599$8,538,623$4,014,448$50,470,891
99$80,859,436$8,877,198$4,069,114$55,375,992
100$89,024,767$9,229,849$4,123,098$60,773,964