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%12.8%
1 years$161,029$159,595$158,195$156,829$155,496$153,680
2 years$79,717$78,233$76,794$75,399$74,046$72,218
3 years$52,617$51,126$49,691$48,309$46,978$45,195
4 years$39,070$37,583$36,162$34,804$33,505$31,781
5 years$30,943$29,466$28,063$26,733$25,470$23,809
6 years$25,527$24,061$22,679$21,378$20,153$18,559
7 years$21,660$20,206$18,847$17,576$16,390$14,862
8 years$18,761$17,320$15,983$14,744$13,597$12,135
9 years$16,508$15,081$13,767$12,559$11,451$10,054
10 years$14,706$13,293$12,002$10,826$9,757$8,425
11 years$13,233$11,834$10,566$9,422$8,391$7,122
12 years$12,006$10,621$9,377$8,264$7,271$6,065
13 years$10,969$9,599$8,378$7,296$6,341$5,195
14 years$10,081$8,725$7,528$6,477$5,558$4,472
15 years$9,312$7,970$6,797$5,776$4,894$3,864
16 years$8,639$7,313$6,162$5,172$4,325$3,351
17 years$8,047$6,735$5,607$4,647$3,835$2,915
18 years$7,520$6,223$5,119$4,188$3,410$2,541
19 years$7,050$5,768$4,686$3,784$3,039$2,220
20 years$6,627$5,359$4,300$3,427$2,715$1,943
21 years$6,245$4,992$3,956$3,110$2,430$1,704
22 years$5,899$4,660$3,646$2,828$2,178$1,496
23 years$5,583$4,358$3,366$2,575$1,955$1,315
24 years$5,293$4,084$3,113$2,349$1,757$1,157
25 years$5,027$3,832$2,883$2,145$1,581$1,019
26 years$4,782$3,602$2,674$1,961$1,424$898
27 years$4,556$3,390$2,483$1,795$1,284$792
28 years$4,346$3,194$2,308$1,645$1,159$699
29 years$4,151$3,013$2,148$1,508$1,046$617
30 years$3,969$2,846$2,001$1,384$945$545
31 years$3,800$2,690$1,865$1,271$855$482
32 years$3,641$2,545$1,741$1,169$773$426
33 years$3,492$2,410$1,625$1,075$700$377
34 years$3,352$2,285$1,518$989$633$333
35 years$3,221$2,167$1,420$910$574$295
36 years$3,097$2,057$1,328$838$520$261
37 years$2,980$1,953$1,243$772$471$231
38 years$2,870$1,856$1,164$712$427$204
39 years$2,765$1,765$1,091$656$387$181
40 years$2,666$1,679$1,022$605$351$160
41 years$2,572$1,599$958$559$319$142
42 years$2,483$1,523$899$515$289$126
43 years$2,398$1,451$844$476$262$111
44 years$2,317$1,383$792$439$238$99
45 years$2,240$1,319$744$406$216$87
46 years$2,166$1,258$698$375$196$78
47 years$2,096$1,200$656$346$178$69
48 years$2,029$1,146$617$320$162$61
49 years$1,965$1,094$580$296$147$54
50 years$1,904$1,045$545$273$134$48

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 $5,343 every year, while hoping to spend $51,484 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: 29/42/29 Blend
59$1,950,000$1,950,000$1,950,000$1,950,000
60$2,154,411$2,051,061$2,020,836$2,197,508
61$2,319,383$2,096,785$2,033,756$2,277,857
62$2,499,456$2,143,023$2,045,382$2,359,364
63$2,696,116$2,189,747$2,055,619$2,445,973
64$2,911,000$2,236,925$2,064,362$2,538,162
65$3,145,908$2,284,521$2,071,505$2,636,457
66$3,402,824$2,332,495$2,076,933$2,741,443
67$3,683,930$2,380,805$2,080,528$2,853,761
68$3,991,630$2,429,404$2,082,165$2,974,123
69$4,328,572$2,478,240$2,081,713$3,103,312
70$4,697,670$2,527,258$2,079,035$3,242,195
71$5,102,136$2,576,397$2,073,985$3,391,726
72$5,545,504$2,625,590$2,066,414$3,552,963
73$6,031,668$2,674,767$2,056,162$3,727,071
74$6,564,918$2,723,850$2,043,063$3,915,335
75$7,149,976$2,772,756$2,026,942$4,119,179
76$7,792,047$2,821,394$2,007,618$4,340,168
77$8,496,862$2,869,669$1,984,899$4,580,037
78$9,270,733$2,917,474$1,958,585$4,840,696
79$10,120,616$2,964,698$1,928,465$5,124,255
80$11,054,171$3,011,221$1,894,322$5,433,045
81$12,079,839$3,056,913$1,855,923$5,769,636
82$13,206,916$3,101,635$1,813,030$6,136,867
83$14,445,645$3,145,239$1,765,390$6,537,871
84$15,807,310$3,187,565$1,712,741$6,976,105
85$17,304,345$3,228,444$1,654,806$7,455,385
86$18,950,444$3,267,695$1,591,299$7,979,922
87$20,760,699$3,305,121$1,521,917$8,554,362
88$22,751,735$3,340,517$1,446,346$9,183,833
89$24,941,870$3,373,660$1,364,257$9,873,995
90$27,351,287$3,404,316$1,275,305$10,631,089
91$30,002,223$3,432,232$1,179,133$11,462,004
92$32,919,180$3,457,141$1,075,363$12,374,339
93$36,129,152$3,478,757$963,604$13,376,481
94$39,661,887$3,496,778$843,446$14,477,677
95$43,550,159$3,510,879$714,461$15,688,132
96$47,830,082$3,520,719$576,202$17,019,103
97$52,541,447$3,525,931$428,202$18,483,006
98$57,728,102$3,526,129$269,974$20,093,537
99$63,438,359$3,520,900$101,009$21,865,801
100$69,725,456$3,509,808$0$23,816,462