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

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 $1,950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$161,029$159,595$158,195$156,829$155,496$152,232
2 years$79,717$78,233$76,794$75,399$74,046$70,773
3 years$52,617$51,126$49,691$48,309$46,978$43,798
4 years$39,070$37,583$36,162$34,804$33,505$30,442
5 years$30,943$29,466$28,063$26,733$25,470$22,534
6 years$25,527$24,061$22,679$21,378$20,153$17,347
7 years$21,660$20,206$18,847$17,576$16,390$13,713
8 years$18,761$17,320$15,983$14,744$13,597$11,049
9 years$16,508$15,081$13,767$12,559$11,451$9,030
10 years$14,706$13,293$12,002$10,826$9,757$7,461
11 years$13,233$11,834$10,566$9,422$8,391$6,218
12 years$12,006$10,621$9,377$8,264$7,271$5,217
13 years$10,969$9,599$8,378$7,296$6,341$4,401
14 years$10,081$8,725$7,528$6,477$5,558$3,730
15 years$9,312$7,970$6,797$5,776$4,894$3,173
16 years$8,639$7,313$6,162$5,172$4,325$2,708
17 years$8,047$6,735$5,607$4,647$3,835$2,317
18 years$7,520$6,223$5,119$4,188$3,410$1,987
19 years$7,050$5,768$4,686$3,784$3,039$1,707
20 years$6,627$5,359$4,300$3,427$2,715$1,468
21 years$6,245$4,992$3,956$3,110$2,430$1,265
22 years$5,899$4,660$3,646$2,828$2,178$1,091
23 years$5,583$4,358$3,366$2,575$1,955$942
24 years$5,293$4,084$3,113$2,349$1,757$814
25 years$5,027$3,832$2,883$2,145$1,581$704
26 years$4,782$3,602$2,674$1,961$1,424$609
27 years$4,556$3,390$2,483$1,795$1,284$528
28 years$4,346$3,194$2,308$1,645$1,159$457
29 years$4,151$3,013$2,148$1,508$1,046$396
30 years$3,969$2,846$2,001$1,384$945$343
31 years$3,800$2,690$1,865$1,271$855$298
32 years$3,641$2,545$1,741$1,169$773$258
33 years$3,492$2,410$1,625$1,075$700$224
34 years$3,352$2,285$1,518$989$633$194
35 years$3,221$2,167$1,420$910$574$169
36 years$3,097$2,057$1,328$838$520$146
37 years$2,980$1,953$1,243$772$471$127
38 years$2,870$1,856$1,164$712$427$110
39 years$2,765$1,765$1,091$656$387$96
40 years$2,666$1,679$1,022$605$351$83
41 years$2,572$1,599$958$559$319$72
42 years$2,483$1,523$899$515$289$63
43 years$2,398$1,451$844$476$262$54
44 years$2,317$1,383$792$439$238$47
45 years$2,240$1,319$744$406$216$41
46 years$2,166$1,258$698$375$196$36
47 years$2,096$1,200$656$346$178$31
48 years$2,029$1,146$617$320$162$27
49 years$1,965$1,094$580$296$147$23
50 years$1,904$1,045$545$273$134$20

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 $6,855 every year, while hoping to spend $32,332 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: 52/39/9 Blend
59$1,950,000$1,950,000$1,950,000$1,950,000
60$2,155,971$2,052,621$2,022,396$2,262,787
61$2,341,479$2,118,798$2,055,745$2,402,384
62$2,544,825$2,187,135$2,089,128$2,550,053
63$2,767,795$2,257,702$2,122,511$2,709,882
64$3,012,355$2,330,574$2,155,860$2,883,026
65$3,280,670$2,405,828$2,189,137$3,070,753
66$3,575,127$2,483,542$2,222,302$3,274,459
67$3,898,353$2,563,798$2,255,312$3,495,680
68$4,253,243$2,646,682$2,288,123$3,736,105
69$4,642,986$2,732,281$2,320,686$3,997,593
70$5,071,093$2,820,686$2,352,952$4,282,188
71$5,541,435$2,911,990$2,384,866$4,592,142
72$6,058,273$3,006,290$2,416,372$4,929,932
73$6,626,306$3,103,686$2,447,409$5,298,285
74$7,250,705$3,204,283$2,477,913$5,700,201
75$7,937,171$3,308,188$2,507,817$6,138,986
76$8,691,984$3,415,510$2,537,051$6,618,275
77$9,522,063$3,526,366$2,565,538$7,142,075
78$10,435,030$3,640,874$2,593,200$7,714,795
79$11,439,283$3,759,158$2,619,952$8,341,289
80$12,544,076$3,881,343$2,645,707$9,026,905
81$13,759,605$4,007,562$2,670,371$9,777,530
82$15,097,103$4,137,950$2,693,847$10,599,648
83$16,568,947$4,272,649$2,716,030$11,500,400
84$18,188,775$4,411,805$2,736,813$12,487,651
85$19,971,615$4,555,568$2,756,081$13,570,062
86$21,934,022$4,704,094$2,773,713$14,757,176
87$24,094,243$4,857,545$2,789,582$16,059,500
88$26,472,379$5,016,088$2,803,557$17,488,610
89$29,090,581$5,179,896$2,815,495$19,057,259
90$31,973,258$5,349,148$2,825,252$20,779,493
91$35,147,304$5,524,030$2,832,671$22,670,784
92$38,642,355$5,704,733$2,837,592$24,748,180
93$42,491,067$5,891,457$2,839,843$27,030,459
94$46,729,424$6,084,406$2,839,246$29,538,309
95$51,397,078$6,283,795$2,835,613$32,294,522
96$56,537,722$6,489,843$2,828,749$35,324,208
97$62,199,503$6,702,779$2,818,445$38,655,033
98$68,435,477$6,922,840$2,804,488$42,317,474
99$75,304,106$7,150,269$2,786,648$46,345,114
100$82,869,814$7,385,321$2,764,690$50,774,952