Can I retire at age 60 with 1,970,000?

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 $1,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$162,681$161,232$159,818$158,438$157,091$153,480
2 years$80,535$79,035$77,582$76,172$74,805$71,187
3 years$53,157$51,650$50,200$48,804$47,459$43,948
4 years$39,470$37,968$36,533$35,161$33,848$30,470
5 years$31,260$29,768$28,351$27,007$25,731$22,495
6 years$25,789$24,308$22,912$21,598$20,360$17,270
7 years$21,883$20,413$19,040$17,757$16,558$13,614
8 years$18,954$17,498$16,147$14,896$13,737$10,938
9 years$16,677$15,235$13,908$12,688$11,568$8,912
10 years$14,857$13,429$12,125$10,937$9,857$7,341
11 years$13,369$11,955$10,675$9,518$8,477$6,098
12 years$12,129$10,730$9,474$8,349$7,346$5,100
13 years$11,082$9,697$8,464$7,371$6,406$4,288
14 years$10,184$8,814$7,605$6,543$5,615$3,622
15 years$9,407$8,052$6,866$5,835$4,944$3,071
16 years$8,728$7,388$6,225$5,225$4,370$2,611
17 years$8,129$6,804$5,665$4,694$3,875$2,226
18 years$7,598$6,287$5,171$4,231$3,445$1,902
19 years$7,122$5,827$4,734$3,823$3,071$1,628
20 years$6,695$5,414$4,345$3,462$2,743$1,395
21 years$6,310$5,043$3,996$3,142$2,454$1,197
22 years$5,959$4,708$3,683$2,857$2,200$1,029
23 years$5,640$4,403$3,401$2,602$1,975$885
24 years$5,347$4,125$3,145$2,373$1,775$762
25 years$5,079$3,871$2,913$2,167$1,597$656
26 years$4,831$3,639$2,702$1,982$1,439$565
27 years$4,603$3,424$2,509$1,814$1,297$488
28 years$4,391$3,227$2,332$1,662$1,170$421
29 years$4,194$3,044$2,170$1,524$1,057$363
30 years$4,010$2,875$2,022$1,399$955$313
31 years$3,839$2,718$1,885$1,285$863$271
32 years$3,678$2,571$1,758$1,180$781$234
33 years$3,528$2,435$1,642$1,086$707$202
34 years$3,387$2,308$1,534$999$640$174
35 years$3,254$2,189$1,434$919$580$151
36 years$3,129$2,078$1,342$847$525$130
37 years$3,011$1,973$1,256$780$476$113
38 years$2,899$1,875$1,176$719$432$97
39 years$2,793$1,783$1,102$663$391$84
40 years$2,693$1,697$1,033$612$355$73
41 years$2,598$1,615$968$564$322$63
42 years$2,508$1,538$908$521$292$54
43 years$2,422$1,466$852$481$265$47
44 years$2,341$1,397$800$444$241$41
45 years$2,263$1,332$751$410$219$35
46 years$2,189$1,271$706$379$198$30
47 years$2,118$1,213$663$350$180$26
48 years$2,050$1,158$623$323$164$23
49 years$1,985$1,106$586$299$149$20
50 years$1,923$1,056$550$276$135$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,970,000, adding $5,711 every year, while hoping to spend $23,736 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: 41/38/21 Blend
59$1,970,000$1,970,000$1,970,000$1,970,000
60$2,176,831$2,072,421$2,041,886$2,252,407
61$2,373,613$2,148,715$2,085,034$2,383,196
62$2,589,671$2,227,951$2,128,832$2,521,960
63$2,826,946$2,310,250$2,173,277$2,671,673
64$3,087,577$2,395,734$2,218,365$2,833,350
65$3,373,919$2,484,535$2,264,089$3,008,105
66$3,688,568$2,576,786$2,310,445$3,197,165
67$4,034,382$2,672,628$2,357,425$3,401,874
68$4,414,510$2,772,209$2,405,020$3,623,713
69$4,832,424$2,875,680$2,453,221$3,864,308
70$5,291,945$2,983,202$2,502,018$4,125,449
71$5,797,285$3,094,941$2,551,398$4,409,101
72$6,353,085$3,211,070$2,601,347$4,717,428
73$6,964,458$3,331,771$2,651,850$5,052,809
74$7,637,037$3,457,232$2,702,891$5,417,860
75$8,377,028$3,587,649$2,754,451$5,815,460
76$9,191,270$3,723,230$2,806,510$6,248,778
77$10,087,298$3,864,186$2,859,047$6,721,297
78$11,073,414$4,010,743$2,912,037$7,236,854
79$12,158,767$4,163,134$2,965,454$7,799,668
80$13,353,435$4,321,601$3,019,271$8,414,385
81$14,668,525$4,486,399$3,073,456$9,086,118
82$16,116,275$4,657,793$3,127,978$9,820,494
83$17,710,170$4,836,060$3,182,799$10,623,709
84$19,465,068$5,021,488$3,237,884$11,502,584
85$21,397,342$5,214,378$3,293,190$12,464,627
86$23,525,033$5,415,045$3,348,675$13,518,105
87$25,868,022$5,623,817$3,404,291$14,672,123
88$28,448,213$5,841,038$3,459,988$15,936,702
89$31,289,747$6,067,064$3,515,713$17,322,880
90$34,419,221$6,302,270$3,571,409$18,842,813
91$37,865,945$6,547,045$3,627,015$20,509,885
92$41,662,219$6,801,798$3,682,467$22,338,838
93$45,843,631$7,066,952$3,737,696$24,345,906
94$50,449,402$7,342,953$3,792,629$26,548,972
95$55,522,747$7,630,264$3,847,189$28,967,730
96$61,111,290$7,929,370$3,901,293$31,623,871
97$67,267,509$8,240,776$3,954,853$34,541,290
98$74,049,233$8,565,012$4,007,778$37,746,306
99$81,520,186$8,902,629$4,059,970$41,267,910
100$89,750,591$9,254,204$4,111,326$45,138,037