Can I retire at age 60 with 1,980,000?

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 $1,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$163,507$162,050$160,629$159,242$157,888$153,573
2 years$80,944$79,436$77,975$76,559$75,185$70,869
3 years$53,427$51,913$50,455$49,052$47,700$43,519
4 years$39,671$38,161$36,718$35,339$34,020$30,005
5 years$31,419$29,919$28,495$27,144$25,862$22,024
6 years$25,920$24,431$23,028$21,707$20,463$16,807
7 years$21,994$20,517$19,137$17,847$16,642$13,167
8 years$19,050$17,587$16,229$14,971$13,806$10,511
9 years$16,762$15,313$13,978$12,752$11,627$8,508
10 years$14,932$13,497$12,187$10,992$9,907$6,960
11 years$13,437$12,016$10,729$9,567$8,520$5,741
12 years$12,191$10,785$9,522$8,391$7,383$4,767
13 years$11,138$9,746$8,507$7,408$6,438$3,979
14 years$10,236$8,859$7,644$6,576$5,644$3,335
15 years$9,455$8,093$6,901$5,865$4,969$2,806
16 years$8,772$7,425$6,257$5,251$4,392$2,367
17 years$8,170$6,838$5,693$4,718$3,894$2,002
18 years$7,636$6,319$5,197$4,252$3,463$1,697
19 years$7,159$5,856$4,758$3,842$3,086$1,440
20 years$6,729$5,442$4,367$3,480$2,757$1,224
21 years$6,342$5,069$4,016$3,158$2,467$1,042
22 years$5,989$4,732$3,702$2,871$2,211$888
23 years$5,668$4,425$3,418$2,615$1,985$757
24 years$5,375$4,146$3,161$2,385$1,784$646
25 years$5,105$3,891$2,928$2,178$1,605$551
26 years$4,856$3,657$2,715$1,992$1,446$471
27 years$4,626$3,442$2,521$1,823$1,304$403
28 years$4,413$3,243$2,344$1,670$1,176$344
29 years$4,215$3,059$2,181$1,532$1,062$294
30 years$4,030$2,889$2,032$1,406$960$252
31 years$3,858$2,731$1,894$1,291$868$216
32 years$3,697$2,584$1,767$1,186$785$184
33 years$3,546$2,448$1,650$1,091$710$158
34 years$3,404$2,320$1,542$1,004$643$135
35 years$3,270$2,200$1,441$924$583$116
36 years$3,145$2,088$1,348$851$528$99
37 years$3,026$1,983$1,262$784$478$85
38 years$2,914$1,885$1,182$723$434$73
39 years$2,808$1,792$1,107$666$393$62
40 years$2,707$1,705$1,038$615$357$53
41 years$2,612$1,623$973$567$324$46
42 years$2,521$1,546$913$523$294$39
43 years$2,435$1,473$857$483$267$34
44 years$2,353$1,404$804$446$242$29
45 years$2,274$1,339$755$412$220$25
46 years$2,200$1,277$709$381$199$21
47 years$2,129$1,219$666$352$181$18
48 years$2,060$1,164$626$325$164$15
49 years$1,995$1,111$588$300$149$13
50 years$1,933$1,061$553$278$136$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,980,000, adding $6,168 every year, while hoping to spend $48,725 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: 41/37/22 Blend
59$1,980,000$1,980,000$1,980,000$1,980,000
60$2,188,322$2,083,382$2,052,692$2,263,643
61$2,359,688$2,133,625$2,069,614$2,368,336
62$2,546,900$2,184,697$2,085,470$2,476,460
63$2,751,524$2,236,586$2,100,173$2,592,509
64$2,975,281$2,289,281$2,113,631$2,717,236
65$3,220,069$2,342,765$2,125,747$2,851,471
66$3,487,977$2,397,021$2,136,420$2,996,127
67$3,781,304$2,452,029$2,145,544$3,152,211
68$4,102,584$2,507,765$2,153,007$3,320,834
69$4,454,606$2,564,204$2,158,690$3,503,219
70$4,840,440$2,621,315$2,162,471$3,700,713
71$5,263,471$2,679,065$2,164,220$3,914,805
72$5,727,424$2,737,418$2,163,801$4,147,131
73$6,236,404$2,796,334$2,161,070$4,399,499
74$6,794,929$2,855,767$2,155,879$4,673,899
75$7,407,981$2,915,668$2,148,069$4,972,527
76$8,081,043$2,975,984$2,137,477$5,297,801
77$8,820,157$3,036,654$2,123,930$5,652,390
78$9,631,978$3,097,616$2,107,247$6,039,236
79$10,523,838$3,158,797$2,087,238$6,461,579
80$11,503,813$3,220,122$2,063,705$6,922,995
81$12,580,803$3,281,509$2,036,439$7,427,425
82$13,764,609$3,342,867$2,005,224$7,979,214
83$15,066,030$3,404,099$1,969,831$8,583,152
84$16,496,966$3,465,100$1,930,021$9,244,520
85$18,070,525$3,525,758$1,885,544$9,969,140
86$19,801,149$3,585,951$1,836,141$10,763,432
87$21,704,750$3,645,547$1,781,536$11,634,471
88$23,798,862$3,704,406$1,721,444$12,590,060
89$26,102,800$3,762,375$1,655,566$13,638,801
90$28,637,847$3,819,294$1,583,590$14,790,175
91$31,427,456$3,874,987$1,505,188$16,054,636
92$34,497,464$3,929,269$1,420,019$17,443,709
93$37,876,341$3,981,939$1,327,726$18,970,099
94$41,595,458$4,032,785$1,227,935$20,647,812
95$45,689,381$4,081,577$1,120,257$22,492,289
96$50,196,196$4,128,072$1,004,284$24,520,552
97$55,157,871$4,172,011$879,590$26,751,363
98$60,620,649$4,213,115$745,732$29,205,410
99$66,635,485$4,251,088$602,244$31,905,493
100$73,258,529$4,285,615$448,643$34,876,751