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%19.5%
1 years$161,855$160,413$159,007$157,634$156,293$150,330
2 years$80,126$78,634$77,188$75,785$74,425$68,487
3 years$52,887$51,388$49,946$48,556$47,218$41,493
4 years$39,270$37,776$36,348$34,982$33,677$28,207
5 years$31,102$29,617$28,207$26,870$25,600$20,401
6 years$25,658$24,184$22,796$21,488$20,257$15,331
7 years$21,771$20,310$18,943$17,666$16,474$11,820
8 years$18,858$17,409$16,065$14,820$13,667$9,281
9 years$16,593$15,158$13,837$12,623$11,510$7,385
10 years$14,782$13,361$12,064$10,881$9,807$5,936
11 years$13,301$11,894$10,621$9,470$8,434$4,808
12 years$12,068$10,676$9,425$8,307$7,309$3,919
13 years$11,025$9,648$8,421$7,333$6,373$3,209
14 years$10,132$8,770$7,566$6,510$5,587$2,639
15 years$9,359$8,011$6,831$5,806$4,919$2,176
16 years$8,684$7,350$6,194$5,198$4,348$1,799
17 years$8,088$6,769$5,636$4,671$3,855$1,491
18 years$7,559$6,255$5,145$4,209$3,428$1,237
19 years$7,086$5,797$4,710$3,803$3,055$1,028
20 years$6,661$5,387$4,323$3,445$2,729$855
21 years$6,278$5,018$3,976$3,126$2,442$712
22 years$5,929$4,684$3,664$2,842$2,189$594
23 years$5,611$4,381$3,383$2,589$1,965$495
24 years$5,320$4,104$3,129$2,361$1,766$413
25 years$5,053$3,852$2,898$2,156$1,589$345
26 years$4,807$3,620$2,688$1,972$1,431$288
27 years$4,579$3,407$2,496$1,805$1,291$241
28 years$4,368$3,210$2,320$1,653$1,165$201
29 years$4,172$3,029$2,159$1,516$1,052$168
30 years$3,990$2,860$2,011$1,392$950$141
31 years$3,819$2,704$1,875$1,278$859$118
32 years$3,660$2,558$1,749$1,174$777$98
33 years$3,510$2,423$1,633$1,080$703$82
34 years$3,370$2,296$1,526$994$637$69
35 years$3,237$2,178$1,427$915$577$58
36 years$3,113$2,067$1,335$843$522$48
37 years$2,995$1,963$1,249$776$474$40
38 years$2,884$1,866$1,170$715$429$34
39 years$2,779$1,774$1,096$660$389$28
40 years$2,680$1,688$1,027$608$353$24
41 years$2,585$1,607$963$561$320$20
42 years$2,495$1,530$904$518$291$17
43 years$2,410$1,458$848$478$264$14
44 years$2,329$1,390$796$442$239$12
45 years$2,251$1,325$747$408$217$10
46 years$2,178$1,264$702$377$197$8
47 years$2,107$1,207$660$348$179$7
48 years$2,040$1,152$620$322$163$6
49 years$1,975$1,100$583$297$148$5
50 years$1,914$1,051$548$275$134$4

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 $6,686 every year, while hoping to spend $46,427 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: 77/16/7 Blend
59$1,960,000$1,960,000$1,960,000$1,960,000
60$2,166,817$2,062,937$2,032,557$2,331,307
61$2,338,434$2,114,623$2,051,249$2,491,953
62$2,526,000$2,167,285$2,069,012$2,661,373
63$2,731,093$2,220,923$2,085,765$2,845,759
64$2,955,450$2,275,534$2,101,423$3,046,581
65$3,200,983$2,331,112$2,115,899$3,265,453
66$3,469,800$2,387,653$2,129,097$3,504,155
67$3,764,218$2,445,147$2,140,921$3,764,647
68$4,086,793$2,503,584$2,151,267$4,049,088
69$4,440,338$2,562,951$2,160,025$4,359,854
70$4,827,949$2,623,232$2,167,083$4,699,563
71$5,253,040$2,684,411$2,172,321$5,071,099
72$5,719,368$2,746,465$2,175,612$5,477,639
73$6,231,074$2,809,372$2,176,824$5,922,681
74$6,792,715$2,873,103$2,175,820$6,410,081
75$7,409,315$2,937,628$2,172,453$6,944,084
76$8,086,407$3,002,913$2,166,572$7,529,368
77$8,830,083$3,068,919$2,158,015$8,171,087
78$9,647,060$3,135,604$2,146,616$8,874,918
79$10,544,731$3,202,920$2,132,199$9,647,117
80$11,531,245$3,270,814$2,114,580$10,494,577
81$12,615,579$3,339,231$2,093,565$11,424,889
82$13,807,622$3,408,107$2,068,953$12,446,421
83$15,118,268$3,477,373$2,040,532$13,568,391
84$16,559,522$3,546,955$2,008,080$14,800,957
85$18,144,609$3,616,771$1,971,366$16,155,310
86$19,888,098$3,686,732$1,930,146$17,643,781
87$21,806,045$3,756,743$1,884,167$19,279,960
88$23,916,137$3,826,699$1,833,162$21,078,818
89$26,237,864$3,896,488$1,776,854$23,056,855
90$28,792,699$3,965,989$1,714,951$25,232,250
91$31,604,302$4,035,070$1,647,149$27,625,036
92$34,698,742$4,103,590$1,573,131$30,257,289
93$38,104,747$4,171,398$1,492,563$33,153,333
94$41,853,965$4,238,331$1,405,099$36,339,974
95$45,981,274$4,304,214$1,310,374$39,846,749
96$50,525,102$4,368,858$1,208,009$43,706,210
97$55,527,793$4,432,063$1,097,608$47,954,223
98$61,036,006$4,493,612$978,756$52,630,316
99$67,101,154$4,553,275$851,020$57,778,045
100$73,779,891$4,610,805$713,949$63,445,408