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%17.5%
1 years$163,507$162,050$160,629$159,242$157,888$153,079
2 years$80,944$79,436$77,975$76,559$75,185$70,381
3 years$53,427$51,913$50,455$49,052$47,700$43,053
4 years$39,671$38,161$36,718$35,339$34,020$29,564
5 years$31,419$29,919$28,495$27,144$25,862$21,609
6 years$25,920$24,431$23,028$21,707$20,463$16,418
7 years$21,994$20,517$19,137$17,847$16,642$12,804
8 years$19,050$17,587$16,229$14,971$13,806$10,173
9 years$16,762$15,313$13,978$12,752$11,627$8,194
10 years$14,932$13,497$12,187$10,992$9,907$6,670
11 years$13,437$12,016$10,729$9,567$8,520$5,474
12 years$12,191$10,785$9,522$8,391$7,383$4,521
13 years$11,138$9,746$8,507$7,408$6,438$3,753
14 years$10,236$8,859$7,644$6,576$5,644$3,129
15 years$9,455$8,093$6,901$5,865$4,969$2,617
16 years$8,772$7,425$6,257$5,251$4,392$2,196
17 years$8,170$6,838$5,693$4,718$3,894$1,846
18 years$7,636$6,319$5,197$4,252$3,463$1,555
19 years$7,159$5,856$4,758$3,842$3,086$1,312
20 years$6,729$5,442$4,367$3,480$2,757$1,109
21 years$6,342$5,069$4,016$3,158$2,467$938
22 years$5,989$4,732$3,702$2,871$2,211$794
23 years$5,668$4,425$3,418$2,615$1,985$673
24 years$5,375$4,146$3,161$2,385$1,784$570
25 years$5,105$3,891$2,928$2,178$1,605$484
26 years$4,856$3,657$2,715$1,992$1,446$411
27 years$4,626$3,442$2,521$1,823$1,304$349
28 years$4,413$3,243$2,344$1,670$1,176$296
29 years$4,215$3,059$2,181$1,532$1,062$252
30 years$4,030$2,889$2,032$1,406$960$214
31 years$3,858$2,731$1,894$1,291$868$182
32 years$3,697$2,584$1,767$1,186$785$155
33 years$3,546$2,448$1,650$1,091$710$131
34 years$3,404$2,320$1,542$1,004$643$112
35 years$3,270$2,200$1,441$924$583$95
36 years$3,145$2,088$1,348$851$528$81
37 years$3,026$1,983$1,262$784$478$69
38 years$2,914$1,885$1,182$723$434$59
39 years$2,808$1,792$1,107$666$393$50
40 years$2,707$1,705$1,038$615$357$42
41 years$2,612$1,623$973$567$324$36
42 years$2,521$1,546$913$523$294$31
43 years$2,435$1,473$857$483$267$26
44 years$2,353$1,404$804$446$242$22
45 years$2,274$1,339$755$412$220$19
46 years$2,200$1,277$709$381$199$16
47 years$2,129$1,219$666$352$181$14
48 years$2,060$1,164$626$325$164$12
49 years$1,995$1,111$588$300$149$10
50 years$1,933$1,061$553$278$136$8

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 $6,717 every year, while hoping to spend $50,205 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: 40/31/29 Blend
59$1,980,000$1,980,000$1,980,000$1,980,000
60$2,188,889$2,083,949$2,053,259$2,257,478
61$2,358,737$2,132,644$2,068,625$2,356,754
62$2,544,228$2,182,044$2,082,824$2,458,948
63$2,746,904$2,232,128$2,095,762$2,568,566
64$2,968,461$2,282,875$2,107,344$2,686,321
65$3,210,771$2,334,263$2,117,467$2,812,997
66$3,475,892$2,386,264$2,126,024$2,949,462
67$3,766,090$2,438,848$2,132,903$3,096,672
68$4,083,861$2,491,982$2,137,985$3,255,681
69$4,431,955$2,545,629$2,141,147$3,427,651
70$4,813,397$2,599,748$2,142,259$3,613,864
71$5,231,523$2,654,294$2,141,183$3,815,736
72$5,690,002$2,709,219$2,137,777$4,034,824
73$6,192,880$2,764,468$2,131,890$4,272,850
74$6,744,610$2,819,983$2,123,364$4,531,711
75$7,350,098$2,875,700$2,112,035$4,813,498
76$8,014,748$2,931,549$2,097,728$5,120,521
77$8,744,513$2,987,456$2,080,263$5,455,323
78$9,545,950$3,043,338$2,059,449$5,820,712
79$10,426,284$3,099,108$2,035,087$6,219,785
80$11,393,470$3,154,670$2,006,968$6,655,954
81$12,456,277$3,209,922$1,974,874$7,132,987
82$13,624,360$3,264,751$1,938,576$7,655,035
83$14,908,361$3,319,040$1,897,834$8,226,678
84$16,320,001$3,372,660$1,852,399$8,852,966
85$17,872,195$3,425,474$1,802,007$9,539,470
86$19,579,170$3,477,333$1,746,386$10,292,331
87$21,456,602$3,528,080$1,685,247$11,118,322
88$23,521,765$3,577,545$1,618,291$12,024,911
89$25,793,686$3,625,546$1,545,206$13,020,333
90$28,293,333$3,671,889$1,465,661$14,113,671
91$31,043,809$3,716,367$1,379,316$15,314,937
92$34,070,566$3,758,757$1,285,812$16,635,172
93$37,401,651$3,798,824$1,184,774$18,086,551
94$41,067,968$3,836,315$1,075,813$19,682,496
95$45,103,566$3,870,960$958,518$21,437,806
96$49,545,966$3,902,473$832,464$23,368,801
97$54,436,508$3,930,547$697,205$25,493,470
98$59,820,746$3,954,858$552,276$27,831,648
99$65,748,875$3,975,060$397,190$30,405,203
100$72,276,206$3,990,783$231,442$33,238,246