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%12.9%
1 years$161,855$160,413$159,007$157,634$156,293$154,404
2 years$80,126$78,634$77,188$75,785$74,425$72,524
3 years$52,887$51,388$49,946$48,556$47,218$45,364
4 years$39,270$37,776$36,348$34,982$33,677$31,884
5 years$31,102$29,617$28,207$26,870$25,600$23,874
6 years$25,658$24,184$22,796$21,488$20,257$18,599
7 years$21,771$20,310$18,943$17,666$16,474$14,886
8 years$18,858$17,409$16,065$14,820$13,667$12,148
9 years$16,593$15,158$13,837$12,623$11,510$10,059
10 years$14,782$13,361$12,064$10,881$9,807$8,423
11 years$13,301$11,894$10,621$9,470$8,434$7,117
12 years$12,068$10,676$9,425$8,307$7,309$6,057
13 years$11,025$9,648$8,421$7,333$6,373$5,184
14 years$10,132$8,770$7,566$6,510$5,587$4,459
15 years$9,359$8,011$6,831$5,806$4,919$3,851
16 years$8,684$7,350$6,194$5,198$4,348$3,338
17 years$8,088$6,769$5,636$4,671$3,855$2,901
18 years$7,559$6,255$5,145$4,209$3,428$2,527
19 years$7,086$5,797$4,710$3,803$3,055$2,206
20 years$6,661$5,387$4,323$3,445$2,729$1,930
21 years$6,278$5,018$3,976$3,126$2,442$1,691
22 years$5,929$4,684$3,664$2,842$2,189$1,483
23 years$5,611$4,381$3,383$2,589$1,965$1,303
24 years$5,320$4,104$3,129$2,361$1,766$1,145
25 years$5,053$3,852$2,898$2,156$1,589$1,008
26 years$4,807$3,620$2,688$1,972$1,431$887
27 years$4,579$3,407$2,496$1,805$1,291$782
28 years$4,368$3,210$2,320$1,653$1,165$690
29 years$4,172$3,029$2,159$1,516$1,052$608
30 years$3,990$2,860$2,011$1,392$950$537
31 years$3,819$2,704$1,875$1,278$859$474
32 years$3,660$2,558$1,749$1,174$777$419
33 years$3,510$2,423$1,633$1,080$703$370
34 years$3,370$2,296$1,526$994$637$327
35 years$3,237$2,178$1,427$915$577$289
36 years$3,113$2,067$1,335$843$522$256
37 years$2,995$1,963$1,249$776$474$226
38 years$2,884$1,866$1,170$715$429$200
39 years$2,779$1,774$1,096$660$389$177
40 years$2,680$1,688$1,027$608$353$157
41 years$2,585$1,607$963$561$320$139
42 years$2,495$1,530$904$518$291$123
43 years$2,410$1,458$848$478$264$109
44 years$2,329$1,390$796$442$239$96
45 years$2,251$1,325$747$408$217$85
46 years$2,178$1,264$702$377$197$75
47 years$2,107$1,207$660$348$179$67
48 years$2,040$1,152$620$322$163$59
49 years$1,975$1,100$583$297$148$52
50 years$1,914$1,051$548$275$134$46

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 $5,485 every year, while hoping to spend $51,877 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: 61/33/6 Blend
59$1,960,000$1,960,000$1,960,000$1,960,000
60$2,165,578$2,061,698$2,031,318$2,294,950
61$2,331,270$2,107,524$2,044,170$2,427,885
62$2,512,124$2,153,858$2,055,714$2,566,353
63$2,709,632$2,200,668$2,065,852$2,716,099
64$2,925,435$2,247,922$2,074,479$2,878,208
65$3,161,343$2,295,583$2,081,487$3,053,877
66$3,419,344$2,343,611$2,086,762$3,244,422
67$3,701,632$2,391,962$2,090,182$3,451,294
68$4,010,618$2,440,588$2,091,623$3,676,091
69$4,348,961$2,489,436$2,090,952$3,920,574
70$4,719,586$2,538,450$2,088,031$4,186,681
71$5,125,717$2,587,567$2,082,712$4,476,548
72$5,570,902$2,636,720$2,074,845$4,792,528
73$6,059,050$2,685,835$2,064,269$5,137,214
74$6,594,467$2,734,835$2,050,816$5,513,463
75$7,181,894$2,783,633$2,034,309$5,924,421
76$7,826,555$2,832,139$2,014,566$6,373,558
77$8,534,202$2,880,253$1,991,393$6,864,694
78$9,311,174$2,927,868$1,964,588$7,402,040
79$10,164,451$2,974,871$1,933,939$7,990,237
80$11,101,723$3,021,138$1,899,225$8,634,399
81$12,131,464$3,066,538$1,860,213$9,340,160
82$13,263,004$3,110,930$1,816,662$10,113,730
83$14,506,627$3,154,162$1,768,316$10,961,955
84$15,873,660$3,196,073$1,714,911$11,892,374
85$17,376,582$3,236,489$1,656,169$12,913,302
86$19,029,141$3,275,225$1,591,799$14,033,897
87$20,846,487$3,312,084$1,521,498$15,264,257
88$22,845,307$3,346,855$1,444,946$16,615,507
89$25,043,990$3,379,313$1,361,814$18,099,909
90$27,462,795$3,409,217$1,271,753$19,730,979
91$30,124,045$3,436,313$1,174,401$21,523,611
92$33,052,333$3,460,328$1,069,380$23,494,221
93$36,274,760$3,480,973$956,292$25,660,899
94$39,821,183$3,497,938$834,725$28,043,588
95$43,724,503$3,510,896$704,248$30,664,261
96$48,020,970$3,519,498$564,408$33,547,140
97$52,750,529$3,523,374$414,736$36,718,919
98$57,957,193$3,522,129$254,740$40,209,017
99$63,689,459$3,515,346$83,906$44,049,860
100$70,000,766$3,502,580$0$48,277,183