Can I retire at age 60 with 2,020,000?

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 $2,020,000?

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$166,810$165,324$163,874$162,459$161,078$156,675
2 years$82,579$81,041$79,551$78,105$76,704$72,301
3 years$54,506$52,961$51,474$50,043$48,664$44,398
4 years$40,472$38,932$37,460$36,053$34,708$30,611
5 years$32,054$30,523$29,071$27,692$26,384$22,469
6 years$26,444$24,925$23,493$22,146$20,877$17,147
7 years$22,438$20,932$19,523$18,207$16,978$13,433
8 years$19,435$17,942$16,557$15,274$14,085$10,723
9 years$17,101$15,622$14,261$13,010$11,862$8,679
10 years$15,234$13,770$12,433$11,214$10,107$7,100
11 years$13,708$12,259$10,946$9,760$8,692$5,857
12 years$12,437$11,003$9,714$8,561$7,533$4,863
13 years$11,363$9,943$8,679$7,558$6,569$4,059
14 years$10,443$9,038$7,798$6,709$5,758$3,403
15 years$9,646$8,256$7,040$5,983$5,070$2,862
16 years$8,949$7,575$6,383$5,357$4,481$2,415
17 years$8,335$6,976$5,808$4,814$3,973$2,042
18 years$7,790$6,447$5,302$4,338$3,532$1,731
19 years$7,303$5,975$4,854$3,920$3,149$1,469
20 years$6,865$5,552$4,455$3,550$2,812$1,249
21 years$6,470$5,171$4,098$3,222$2,517$1,063
22 years$6,110$4,827$3,777$2,929$2,256$906
23 years$5,783$4,515$3,487$2,668$2,025$772
24 years$5,483$4,230$3,225$2,433$1,820$659
25 years$5,208$3,970$2,987$2,222$1,638$563
26 years$4,954$3,731$2,770$2,032$1,475$481
27 years$4,720$3,511$2,572$1,860$1,330$411
28 years$4,502$3,309$2,391$1,704$1,200$351
29 years$4,300$3,121$2,225$1,563$1,084$300
30 years$4,112$2,948$2,073$1,434$979$257
31 years$3,936$2,787$1,932$1,317$885$220
32 years$3,772$2,637$1,803$1,210$801$188
33 years$3,618$2,497$1,683$1,113$725$161
34 years$3,473$2,367$1,573$1,024$656$138
35 years$3,337$2,245$1,471$943$594$118
36 years$3,208$2,131$1,376$868$538$101
37 years$3,087$2,023$1,288$800$488$87
38 years$2,973$1,923$1,206$737$442$74
39 years$2,864$1,829$1,130$680$401$64
40 years$2,762$1,740$1,059$627$364$54
41 years$2,664$1,656$993$579$330$47
42 years$2,572$1,577$931$534$300$40
43 years$2,484$1,503$874$493$272$34
44 years$2,400$1,432$820$455$247$29
45 years$2,320$1,366$770$420$224$25
46 years$2,244$1,303$723$388$203$22
47 years$2,172$1,244$680$359$185$18
48 years$2,102$1,187$639$331$168$16
49 years$2,036$1,134$600$306$152$14
50 years$1,972$1,083$564$283$138$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,020,000, adding $2,623 every year, while hoping to spend $43,433 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: 60/17/23 Blend
59$2,020,000$2,020,000$2,020,000$2,020,000
60$2,228,746$2,121,686$2,090,376$2,348,691
61$2,409,865$2,179,436$2,114,191$2,488,185
62$2,608,003$2,238,560$2,137,348$2,635,354
63$2,824,850$2,299,080$2,159,780$2,794,974
64$3,062,267$2,361,016$2,181,414$2,968,261
65$3,322,302$2,424,390$2,202,175$3,156,556
66$3,607,212$2,489,221$2,221,984$3,361,336
67$3,919,484$2,555,529$2,240,757$3,584,229
68$4,261,854$2,623,333$2,258,405$3,827,026
69$4,637,337$2,692,650$2,274,835$4,091,702
70$5,049,254$2,763,498$2,289,951$4,380,433
71$5,501,262$2,835,894$2,303,648$4,695,615
72$5,997,390$2,909,852$2,315,819$5,039,890
73$6,542,075$2,985,386$2,326,351$5,416,168
74$7,140,206$3,062,509$2,335,123$5,827,654
75$7,797,168$3,141,233$2,342,010$6,277,881
76$8,518,893$3,221,567$2,346,881$6,770,743
77$9,311,916$3,303,520$2,349,598$7,310,529
78$10,183,436$3,387,097$2,350,014$7,901,966
79$11,141,385$3,472,303$2,347,978$8,550,263
80$12,194,501$3,559,141$2,343,330$9,261,161
81$13,352,410$3,647,609$2,335,902$10,040,984
82$14,625,720$3,737,705$2,325,518$10,896,704
83$16,026,115$3,829,425$2,311,994$11,836,002
84$17,566,470$3,922,758$2,295,138$12,867,345
85$19,260,971$4,017,694$2,274,746$14,000,061
86$21,125,246$4,114,217$2,250,606$15,244,432
87$23,176,517$4,212,310$2,222,497$16,611,787
88$25,433,757$4,311,948$2,190,186$18,114,614
89$27,917,873$4,413,106$2,153,430$19,766,673
90$30,651,899$4,515,751$2,111,973$21,583,130
91$33,661,218$4,619,848$2,065,549$23,580,696
92$36,973,796$4,725,355$2,013,879$25,777,790
93$40,620,449$4,832,224$1,956,670$28,194,711
94$44,635,135$4,940,402$1,893,618$30,853,828
95$49,055,267$5,049,830$1,824,403$33,779,794
96$53,922,074$5,160,442$1,748,690$36,999,777
97$59,280,986$5,272,163$1,666,131$40,543,721
98$65,182,060$5,384,913$1,576,360$44,444,623
99$71,680,458$5,498,602$1,478,996$48,738,848
100$78,836,962$5,613,131$1,373,640$53,466,474