Can I retire at age 60 with 1,960,000?

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 $1,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$161,855$160,413$159,007$157,634$156,293$153,894
2 years$80,126$78,634$77,188$75,785$74,425$72,014
3 years$52,887$51,388$49,946$48,556$47,218$44,870
4 years$39,270$37,776$36,348$34,982$33,677$31,409
5 years$31,102$29,617$28,207$26,870$25,600$23,421
6 years$25,658$24,184$22,796$21,488$20,257$18,167
7 years$21,771$20,310$18,943$17,666$16,474$14,475
8 years$18,858$17,409$16,065$14,820$13,667$11,758
9 years$16,593$15,158$13,837$12,623$11,510$9,690
10 years$14,782$13,361$12,064$10,881$9,807$8,075
11 years$13,301$11,894$10,621$9,470$8,434$6,789
12 years$12,068$10,676$9,425$8,307$7,309$5,748
13 years$11,025$9,648$8,421$7,333$6,373$4,895
14 years$10,132$8,770$7,566$6,510$5,587$4,188
15 years$9,359$8,011$6,831$5,806$4,919$3,597
16 years$8,684$7,350$6,194$5,198$4,348$3,100
17 years$8,088$6,769$5,636$4,671$3,855$2,679
18 years$7,559$6,255$5,145$4,209$3,428$2,321
19 years$7,086$5,797$4,710$3,803$3,055$2,014
20 years$6,661$5,387$4,323$3,445$2,729$1,751
21 years$6,278$5,018$3,976$3,126$2,442$1,525
22 years$5,929$4,684$3,664$2,842$2,189$1,330
23 years$5,611$4,381$3,383$2,589$1,965$1,161
24 years$5,320$4,104$3,129$2,361$1,766$1,014
25 years$5,053$3,852$2,898$2,156$1,589$887
26 years$4,807$3,620$2,688$1,972$1,431$776
27 years$4,579$3,407$2,496$1,805$1,291$679
28 years$4,368$3,210$2,320$1,653$1,165$595
29 years$4,172$3,029$2,159$1,516$1,052$522
30 years$3,990$2,860$2,011$1,392$950$458
31 years$3,819$2,704$1,875$1,278$859$401
32 years$3,660$2,558$1,749$1,174$777$352
33 years$3,510$2,423$1,633$1,080$703$309
34 years$3,370$2,296$1,526$994$637$271
35 years$3,237$2,178$1,427$915$577$238
36 years$3,113$2,067$1,335$843$522$209
37 years$2,995$1,963$1,249$776$474$184
38 years$2,884$1,866$1,170$715$429$162
39 years$2,779$1,774$1,096$660$389$142
40 years$2,680$1,688$1,027$608$353$125
41 years$2,585$1,607$963$561$320$110
42 years$2,495$1,530$904$518$291$96
43 years$2,410$1,458$848$478$264$85
44 years$2,329$1,390$796$442$239$74
45 years$2,251$1,325$747$408$217$65
46 years$2,178$1,264$702$377$197$58
47 years$2,107$1,207$660$348$179$51
48 years$2,040$1,152$620$322$163$44
49 years$1,975$1,100$583$297$148$39
50 years$1,914$1,051$548$275$134$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,960,000, adding $2,237 every year, while hoping to spend $33,067 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: 59/28/13 Blend
59$1,960,000$1,960,000$1,960,000$1,960,000
60$2,162,227$2,058,347$2,027,967$2,282,702
61$2,347,592$2,124,023$2,060,721$2,429,847
62$2,550,755$2,191,809$2,093,464$2,586,335
63$2,773,497$2,261,773$2,126,161$2,756,190
64$3,017,780$2,333,987$2,158,774$2,940,703
65$3,285,764$2,408,522$2,191,262$3,141,293
66$3,579,827$2,485,455$2,223,585$3,359,525
67$3,902,591$2,564,864$2,255,696$3,597,119
68$4,256,941$2,646,828$2,287,548$3,855,969
69$4,646,058$2,731,432$2,319,091$4,138,161
70$5,073,445$2,818,761$2,350,269$4,445,989
71$5,542,961$2,908,904$2,381,027$4,781,983
72$6,058,855$3,001,953$2,411,304$5,148,924
73$6,625,812$3,098,003$2,441,036$5,549,876
74$7,248,991$3,197,150$2,470,157$5,988,214
75$7,934,075$3,299,498$2,498,594$6,467,654
76$8,687,327$3,405,150$2,526,273$6,992,288
77$9,515,646$3,514,214$2,553,115$7,566,623
78$10,426,633$3,626,801$2,579,036$8,195,623
79$11,428,663$3,743,028$2,603,947$8,884,755
80$12,530,963$3,863,013$2,627,756$9,640,041
81$13,743,701$3,986,880$2,650,365$10,468,115
82$15,078,076$4,114,755$2,671,670$11,376,282
83$16,546,432$4,246,770$2,691,563$12,372,593
84$18,162,368$4,383,062$2,709,931$13,465,913
85$19,940,868$4,523,770$2,726,651$14,666,010
86$21,898,442$4,669,040$2,741,599$15,983,645
87$24,053,281$4,819,022$2,754,642$17,430,672
88$26,425,433$4,973,870$2,765,639$19,020,151
89$29,036,983$5,133,746$2,774,444$20,766,471
90$31,912,270$5,298,814$2,780,902$22,685,483
91$35,078,112$5,469,247$2,784,853$24,794,654
92$38,564,060$5,645,221$2,786,126$27,113,226
93$42,402,676$5,826,918$2,784,544$29,662,400
94$46,629,841$6,014,529$2,779,918$32,465,535
95$51,285,093$6,208,249$2,772,053$35,548,371
96$56,411,999$6,408,280$2,760,744$38,939,266
97$62,058,568$6,614,831$2,745,774$42,669,466
98$68,277,703$6,828,118$2,726,918$46,773,401
99$75,127,698$7,048,365$2,703,938$51,289,007
100$82,672,790$7,275,803$2,676,588$56,258,085