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%15.8%
1 years$163,507$162,050$160,629$159,242$157,888$154,134
2 years$80,944$79,436$77,975$76,559$75,185$71,424
3 years$53,427$51,913$50,455$49,052$47,700$44,051
4 years$39,671$38,161$36,718$35,339$34,020$30,511
5 years$31,419$29,919$28,495$27,144$25,862$22,501
6 years$25,920$24,431$23,028$21,707$20,463$17,256
7 years$21,994$20,517$19,137$17,847$16,642$13,588
8 years$19,050$17,587$16,229$14,971$13,806$10,904
9 years$16,762$15,313$13,978$12,752$11,627$8,874
10 years$14,932$13,497$12,187$10,992$9,907$7,300
11 years$13,437$12,016$10,729$9,567$8,520$6,056
12 years$12,191$10,785$9,522$8,391$7,383$5,058
13 years$11,138$9,746$8,507$7,408$6,438$4,248
14 years$10,236$8,859$7,644$6,576$5,644$3,583
15 years$9,455$8,093$6,901$5,865$4,969$3,033
16 years$8,772$7,425$6,257$5,251$4,392$2,576
17 years$8,170$6,838$5,693$4,718$3,894$2,193
18 years$7,636$6,319$5,197$4,252$3,463$1,870
19 years$7,159$5,856$4,758$3,842$3,086$1,598
20 years$6,729$5,442$4,367$3,480$2,757$1,368
21 years$6,342$5,069$4,016$3,158$2,467$1,172
22 years$5,989$4,732$3,702$2,871$2,211$1,006
23 years$5,668$4,425$3,418$2,615$1,985$864
24 years$5,375$4,146$3,161$2,385$1,784$742
25 years$5,105$3,891$2,928$2,178$1,605$638
26 years$4,856$3,657$2,715$1,992$1,446$549
27 years$4,626$3,442$2,521$1,823$1,304$473
28 years$4,413$3,243$2,344$1,670$1,176$407
29 years$4,215$3,059$2,181$1,532$1,062$351
30 years$4,030$2,889$2,032$1,406$960$302
31 years$3,858$2,731$1,894$1,291$868$261
32 years$3,697$2,584$1,767$1,186$785$225
33 years$3,546$2,448$1,650$1,091$710$194
34 years$3,404$2,320$1,542$1,004$643$167
35 years$3,270$2,200$1,441$924$583$144
36 years$3,145$2,088$1,348$851$528$125
37 years$3,026$1,983$1,262$784$478$107
38 years$2,914$1,885$1,182$723$434$93
39 years$2,808$1,792$1,107$666$393$80
40 years$2,707$1,705$1,038$615$357$69
41 years$2,612$1,623$973$567$324$60
42 years$2,521$1,546$913$523$294$51
43 years$2,435$1,473$857$483$267$44
44 years$2,353$1,404$804$446$242$38
45 years$2,274$1,339$755$412$220$33
46 years$2,200$1,277$709$381$199$29
47 years$2,129$1,219$666$352$181$25
48 years$2,060$1,164$626$325$164$21
49 years$1,995$1,111$588$300$149$18
50 years$1,933$1,061$553$278$136$16

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 $6,022 every year, while hoping to spend $35,694 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: 77/9/14 Blend
59$1,980,000$1,980,000$1,980,000$1,980,000
60$2,188,172$2,083,232$2,052,542$2,349,867
61$2,373,387$2,147,332$2,083,324$2,521,408
62$2,576,298$2,213,377$2,113,941$2,704,356
63$2,798,672$2,281,424$2,144,349$2,903,982
64$3,042,455$2,351,532$2,174,504$3,121,935
65$3,309,791$2,423,763$2,204,355$3,360,034
66$3,603,042$2,498,179$2,233,852$3,620,281
67$3,924,806$2,574,844$2,262,941$3,904,880
68$4,277,950$2,653,825$2,291,563$4,216,261
69$4,665,628$2,735,189$2,319,657$4,557,098
70$5,091,316$2,819,007$2,347,160$4,930,338
71$5,558,842$2,905,351$2,374,002$5,339,227
72$6,072,425$2,994,294$2,400,112$5,787,341
73$6,636,711$3,085,913$2,425,414$6,278,618
74$7,256,818$3,180,286$2,449,828$6,817,398
75$7,938,386$3,277,492$2,473,270$7,408,462
76$8,687,627$3,377,614$2,495,650$8,057,075
77$9,511,386$3,480,738$2,516,875$8,769,041
78$10,417,202$3,586,950$2,536,846$9,550,752
79$11,413,386$3,696,339$2,555,459$10,409,252
80$12,509,089$3,808,998$2,572,605$11,352,300
81$13,714,398$3,925,020$2,588,168$12,388,448
82$15,040,424$4,044,503$2,602,029$13,527,114
83$16,499,409$4,167,547$2,614,060$14,778,680
84$18,104,845$4,294,252$2,624,126$16,154,583
85$19,871,593$4,424,725$2,632,089$17,667,423
86$21,816,032$4,559,072$2,637,800$19,331,088
87$23,956,205$4,697,405$2,641,104$21,160,877
88$26,311,997$4,839,837$2,641,840$23,173,649
89$28,905,316$4,986,484$2,639,837$25,387,981
90$31,760,302$5,137,466$2,634,916$27,824,343
91$34,903,557$5,292,905$2,626,889$30,505,291
92$38,364,389$5,452,928$2,615,560$33,455,681
93$42,175,098$5,617,662$2,600,722$36,702,899
94$46,371,272$5,787,241$2,582,160$40,277,128
95$50,992,127$5,961,801$2,559,647$44,211,622
96$56,080,874$6,141,480$2,532,946$48,543,029
97$61,685,132$6,326,421$2,501,808$53,311,731
98$67,857,370$6,516,770$2,465,974$58,562,229
99$74,655,408$6,712,678$2,425,170$64,343,558
100$82,142,958$6,914,298$2,379,111$70,709,755