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%
1 years$162,681$161,232$159,818$158,438$157,091$153,856
2 years$80,535$79,035$77,582$76,172$74,805$71,561
3 years$53,157$51,650$50,200$48,804$47,459$44,307
4 years$39,470$37,968$36,533$35,161$33,848$30,812
5 years$31,260$29,768$28,351$27,007$25,731$22,819
6 years$25,789$24,308$22,912$21,598$20,360$17,576
7 years$21,883$20,413$19,040$17,757$16,558$13,902
8 years$18,954$17,498$16,147$14,896$13,737$11,208
9 years$16,677$15,235$13,908$12,688$11,568$9,166
10 years$14,857$13,429$12,125$10,937$9,857$7,578
11 years$13,369$11,955$10,675$9,518$8,477$6,319
12 years$12,129$10,730$9,474$8,349$7,346$5,305
13 years$11,082$9,697$8,464$7,371$6,406$4,479
14 years$10,184$8,814$7,605$6,543$5,615$3,798
15 years$9,407$8,052$6,866$5,835$4,944$3,234
16 years$8,728$7,388$6,225$5,225$4,370$2,761
17 years$8,129$6,804$5,665$4,694$3,875$2,364
18 years$7,598$6,287$5,171$4,231$3,445$2,029
19 years$7,122$5,827$4,734$3,823$3,071$1,744
20 years$6,695$5,414$4,345$3,462$2,743$1,502
21 years$6,310$5,043$3,996$3,142$2,454$1,295
22 years$5,959$4,708$3,683$2,857$2,200$1,118
23 years$5,640$4,403$3,401$2,602$1,975$966
24 years$5,347$4,125$3,145$2,373$1,775$835
25 years$5,079$3,871$2,913$2,167$1,597$723
26 years$4,831$3,639$2,702$1,982$1,439$626
27 years$4,603$3,424$2,509$1,814$1,297$543
28 years$4,391$3,227$2,332$1,662$1,170$470
29 years$4,194$3,044$2,170$1,524$1,057$408
30 years$4,010$2,875$2,022$1,399$955$354
31 years$3,839$2,718$1,885$1,285$863$307
32 years$3,678$2,571$1,758$1,180$781$267
33 years$3,528$2,435$1,642$1,086$707$231
34 years$3,387$2,308$1,534$999$640$201
35 years$3,254$2,189$1,434$919$580$175
36 years$3,129$2,078$1,342$847$525$152
37 years$3,011$1,973$1,256$780$476$132
38 years$2,899$1,875$1,176$719$432$115
39 years$2,793$1,783$1,102$663$391$100
40 years$2,693$1,697$1,033$612$355$86
41 years$2,598$1,615$968$564$322$75
42 years$2,508$1,538$908$521$292$65
43 years$2,422$1,466$852$481$265$57
44 years$2,341$1,397$800$444$241$49
45 years$2,263$1,332$751$410$219$43
46 years$2,189$1,271$706$379$198$37
47 years$2,118$1,213$663$350$180$32
48 years$2,050$1,158$623$323$164$28
49 years$1,985$1,106$586$299$149$25
50 years$1,923$1,056$550$276$135$21

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 $2,432 every year, while hoping to spend $23,751 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: 67/19/14 Blend
59$1,970,000$1,970,000$1,970,000$1,970,000
60$2,173,449$2,069,039$2,038,504$2,311,869
61$2,369,869$2,145,151$2,081,523$2,480,576
62$2,585,529$2,224,196$2,125,187$2,661,944
63$2,822,365$2,306,294$2,169,492$2,859,650
64$3,082,511$2,391,567$2,214,435$3,075,295
65$3,368,319$2,480,145$2,260,010$3,310,639
66$3,682,378$2,572,163$2,306,211$3,567,620
67$4,027,541$2,667,759$2,353,030$3,848,372
68$4,406,952$2,767,081$2,400,458$4,155,243
69$4,824,074$2,870,281$2,448,486$4,490,820
70$5,282,722$2,977,517$2,497,103$4,857,950
71$5,787,100$3,088,956$2,546,296$5,259,768
72$6,341,838$3,204,769$2,596,052$5,699,725
73$6,952,041$3,325,138$2,646,354$6,181,623
74$7,623,329$3,450,250$2,697,187$6,709,648
75$8,361,898$3,580,301$2,748,532$7,288,410
76$9,174,571$3,715,495$2,800,368$7,922,987
77$10,068,870$3,856,047$2,852,672$8,618,969
78$11,053,079$4,002,178$2,905,422$9,382,516
79$12,136,330$4,154,121$2,958,589$10,220,410
80$13,328,680$4,312,118$3,012,147$11,140,125
81$14,641,216$4,476,422$3,066,064$12,149,889
82$16,086,149$4,647,297$3,120,307$13,258,769
83$17,676,940$4,825,017$3,174,841$14,476,750
84$19,428,416$5,009,871$3,229,626$15,814,835
85$21,356,918$5,202,158$3,284,622$17,285,141
86$23,480,451$5,402,192$3,339,785$18,901,019
87$25,818,857$5,610,299$3,395,067$20,677,176
88$28,393,997$5,826,820$3,450,418$22,629,816
89$31,229,962$6,052,112$3,505,785$24,776,787
90$34,353,299$6,286,546$3,561,109$27,137,758
91$37,793,259$6,530,510$3,616,330$29,734,394
92$41,582,077$6,784,411$3,671,382$32,590,566
93$45,755,272$7,048,670$3,726,197$35,732,575
94$50,351,985$7,323,731$3,780,700$39,189,398
95$55,415,348$7,610,054$3,834,814$42,992,960
96$60,992,889$7,908,122$3,888,456$47,178,439
97$67,136,983$8,218,439$3,941,538$51,784,593
98$73,905,342$8,541,530$3,993,967$56,854,125
99$81,361,567$8,877,944$4,045,644$62,434,088
100$89,575,739$9,228,256$4,096,466$68,576,328