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

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 $1,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$161,855$160,413$159,007$157,634$156,293$155,635
2 years$80,126$78,634$77,188$75,785$74,425$73,760
3 years$52,887$51,388$49,946$48,556$47,218$46,568
4 years$39,270$37,776$36,348$34,982$33,677$33,045
5 years$31,102$29,617$28,207$26,870$25,600$24,990
6 years$25,658$24,184$22,796$21,488$20,257$19,669
7 years$21,771$20,310$18,943$17,666$16,474$15,908
8 years$18,858$17,409$16,065$14,820$13,667$13,123
9 years$16,593$15,158$13,837$12,623$11,510$10,988
10 years$14,782$13,361$12,064$10,881$9,807$9,307
11 years$13,301$11,894$10,621$9,470$8,434$7,956
12 years$12,068$10,676$9,425$8,307$7,309$6,852
13 years$11,025$9,648$8,421$7,333$6,373$5,938
14 years$10,132$8,770$7,566$6,510$5,587$5,171
15 years$9,359$8,011$6,831$5,806$4,919$4,524
16 years$8,684$7,350$6,194$5,198$4,348$3,971
17 years$8,088$6,769$5,636$4,671$3,855$3,497
18 years$7,559$6,255$5,145$4,209$3,428$3,088
19 years$7,086$5,797$4,710$3,803$3,055$2,733
20 years$6,661$5,387$4,323$3,445$2,729$2,424
21 years$6,278$5,018$3,976$3,126$2,442$2,154
22 years$5,929$4,684$3,664$2,842$2,189$1,916
23 years$5,611$4,381$3,383$2,589$1,965$1,707
24 years$5,320$4,104$3,129$2,361$1,766$1,523
25 years$5,053$3,852$2,898$2,156$1,589$1,360
26 years$4,807$3,620$2,688$1,972$1,431$1,216
27 years$4,579$3,407$2,496$1,805$1,291$1,088
28 years$4,368$3,210$2,320$1,653$1,165$974
29 years$4,172$3,029$2,159$1,516$1,052$872
30 years$3,990$2,860$2,011$1,392$950$782
31 years$3,819$2,704$1,875$1,278$859$701
32 years$3,660$2,558$1,749$1,174$777$629
33 years$3,510$2,423$1,633$1,080$703$565
34 years$3,370$2,296$1,526$994$637$507
35 years$3,237$2,178$1,427$915$577$456
36 years$3,113$2,067$1,335$843$522$409
37 years$2,995$1,963$1,249$776$474$368
38 years$2,884$1,866$1,170$715$429$331
39 years$2,779$1,774$1,096$660$389$297
40 years$2,680$1,688$1,027$608$353$267
41 years$2,585$1,607$963$561$320$241
42 years$2,495$1,530$904$518$291$216
43 years$2,410$1,458$848$478$264$195
44 years$2,329$1,390$796$442$239$175
45 years$2,251$1,325$747$408$217$158
46 years$2,178$1,264$702$377$197$142
47 years$2,107$1,207$660$348$179$128
48 years$2,040$1,152$620$322$163$115
49 years$1,975$1,100$583$297$148$104
50 years$1,914$1,051$548$275$134$93

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 $4,147 every year, while hoping to spend $36,969 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: 75/18/7 Blend
59$1,960,000$1,960,000$1,960,000$1,960,000
60$2,164,198$2,060,318$2,029,938$2,324,219
61$2,345,611$2,121,938$2,058,606$2,491,690
62$2,544,290$2,185,340$2,086,995$2,670,032
63$2,761,955$2,250,569$2,115,058$2,864,391
64$3,000,505$2,317,677$2,142,742$3,076,342
65$3,262,026$2,386,713$2,169,994$3,307,616
66$3,548,820$2,457,730$2,196,756$3,560,119
67$3,863,420$2,530,779$2,222,968$3,835,952
68$4,208,617$2,605,915$2,248,565$4,137,427
69$4,587,484$2,683,193$2,273,480$4,467,090
70$5,003,408$2,762,670$2,297,642$4,827,745
71$5,460,118$2,844,403$2,320,976$5,222,481
72$5,961,723$2,928,452$2,343,402$5,654,698
73$6,512,749$3,014,876$2,364,836$6,128,143
74$7,118,182$3,103,738$2,385,190$6,646,942
75$7,783,514$3,195,099$2,404,372$7,215,641
76$8,514,798$3,289,024$2,422,284$7,839,245
77$9,318,700$3,385,579$2,438,823$8,523,271
78$10,202,564$3,484,829$2,453,881$9,273,793
79$11,174,484$3,586,844$2,467,343$10,097,505
80$12,243,374$3,691,692$2,479,092$11,001,780
81$13,419,057$3,799,444$2,489,001$11,994,740
82$14,712,356$3,910,171$2,496,937$13,085,336
83$16,135,195$4,023,948$2,502,763$14,283,425
84$17,700,712$4,140,849$2,506,333$15,599,871
85$19,423,383$4,260,949$2,507,494$17,046,642
86$21,319,158$4,384,326$2,506,085$18,636,923
87$23,405,613$4,511,058$2,501,939$20,385,243
88$25,702,110$4,641,225$2,494,879$22,307,608
89$28,229,987$4,774,907$2,484,719$24,421,657
90$31,012,755$4,912,187$2,471,267$26,746,822
91$34,076,320$5,053,148$2,454,318$29,304,515
92$37,449,227$5,197,874$2,433,660$32,118,330
93$41,162,929$5,346,451$2,409,069$35,214,265
94$45,252,087$5,498,966$2,380,311$38,620,964
95$49,754,890$5,655,506$2,347,142$42,369,992
96$54,713,423$5,816,160$2,309,305$46,496,128
97$60,174,057$5,981,017$2,266,532$51,037,698
98$66,187,892$6,150,167$2,218,542$56,036,931
99$72,811,235$6,323,703$2,165,041$61,540,363
100$80,106,132$6,501,716$2,105,721$67,599,269