Can I retire at age 60 with 2,040,000?

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 $2,040,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$168,461$166,961$165,497$164,068$162,672$156,652
2 years$83,397$81,843$80,338$78,879$77,463$71,465
3 years$55,046$53,486$51,984$50,538$49,146$43,359
4 years$40,873$39,318$37,831$36,410$35,051$29,521
5 years$32,371$30,825$29,359$27,966$26,645$21,385
6 years$26,705$25,171$23,726$22,365$21,084$16,097
7 years$22,660$21,139$19,716$18,387$17,147$12,432
8 years$19,627$18,120$16,721$15,425$14,225$9,779
9 years$17,270$15,777$14,402$13,138$11,979$7,795
10 years$15,385$13,906$12,556$11,326$10,207$6,278
11 years$13,844$12,380$11,054$9,857$8,778$5,095
12 years$12,560$11,112$9,810$8,646$7,607$4,161
13 years$11,475$10,042$8,765$7,633$6,634$3,415
14 years$10,546$9,128$7,875$6,775$5,815$2,813
15 years$9,741$8,338$7,110$6,043$5,120$2,325
16 years$9,038$7,650$6,446$5,410$4,525$1,927
17 years$8,418$7,045$5,866$4,861$4,012$1,600
18 years$7,867$6,510$5,355$4,381$3,567$1,331
19 years$7,376$6,034$4,902$3,959$3,180$1,108
20 years$6,933$5,607$4,499$3,585$2,840$924
21 years$6,534$5,223$4,138$3,254$2,542$772
22 years$6,171$4,875$3,814$2,958$2,278$645
23 years$5,840$4,560$3,522$2,694$2,045$539
24 years$5,538$4,272$3,257$2,457$1,838$451
25 years$5,259$4,009$3,016$2,244$1,654$377
26 years$5,003$3,768$2,798$2,052$1,490$316
27 years$4,766$3,546$2,598$1,878$1,343$265
28 years$4,547$3,341$2,415$1,721$1,212$222
29 years$4,343$3,152$2,247$1,578$1,094$186
30 years$4,153$2,977$2,093$1,448$989$156
31 years$3,975$2,814$1,952$1,330$894$130
32 years$3,809$2,663$1,821$1,222$809$109
33 years$3,653$2,522$1,700$1,124$732$92
34 years$3,507$2,390$1,589$1,034$663$77
35 years$3,370$2,267$1,485$952$600$64
36 years$3,240$2,152$1,389$877$544$54
37 years$3,118$2,044$1,300$808$493$45
38 years$3,002$1,942$1,218$745$447$38
39 years$2,893$1,847$1,141$687$405$32
40 years$2,789$1,757$1,069$633$368$27
41 years$2,691$1,673$1,003$584$333$22
42 years$2,597$1,593$941$539$303$19
43 years$2,508$1,518$883$498$275$16
44 years$2,424$1,447$828$460$249$13
45 years$2,343$1,380$778$424$226$11
46 years$2,266$1,316$731$392$205$9
47 years$2,193$1,256$686$362$187$8
48 years$2,123$1,199$645$335$169$7
49 years$2,056$1,145$606$309$154$6
50 years$1,992$1,094$570$286$140$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,040,000, adding $5,786 every year, while hoping to spend $57,639 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: 70/12/18 Blend
59$2,040,000$2,040,000$2,040,000$2,040,000
60$2,254,048$2,145,928$2,114,308$2,401,730
61$2,422,634$2,189,751$2,123,810$2,544,667
62$2,606,483$2,233,790$2,131,699$2,693,661
63$2,807,092$2,277,994$2,137,858$2,855,287
64$3,026,109$2,322,308$2,142,169$3,030,787
65$3,265,344$2,366,673$2,144,504$3,221,529
66$3,526,795$2,411,026$2,144,731$3,429,020
67$3,812,657$2,455,296$2,142,709$3,654,919
68$4,125,351$2,499,408$2,138,292$3,901,056
69$4,467,539$2,543,282$2,131,328$4,169,447
70$4,842,155$2,586,829$2,121,654$4,462,314
71$5,252,428$2,629,957$2,109,102$4,782,105
72$5,701,914$2,672,563$2,093,496$5,131,518
73$6,194,531$2,714,540$2,074,649$5,513,527
74$6,734,591$2,755,771$2,052,368$5,931,409
75$7,326,847$2,796,131$2,026,450$6,388,774
76$7,976,531$2,835,487$1,996,682$6,889,605
77$8,689,406$2,873,695$1,962,840$7,438,287
78$9,471,821$2,910,602$1,924,691$8,039,656
79$10,330,770$2,946,045$1,881,991$8,699,040
80$11,273,956$2,979,848$1,834,485$9,422,312
81$12,309,864$3,011,825$1,781,905$10,215,946
82$13,447,843$3,041,777$1,723,971$11,087,075
83$14,698,190$3,069,491$1,660,391$12,043,562
84$16,072,250$3,094,742$1,590,860$13,094,074
85$17,582,523$3,117,287$1,515,056$14,248,163
86$19,242,777$3,136,870$1,432,647$15,516,356
87$21,068,181$3,153,219$1,343,282$16,910,257
88$23,075,451$3,166,041$1,246,597$18,442,652
89$25,282,999$3,175,029$1,142,210$20,127,639
90$27,711,113$3,179,854$1,029,722$21,980,751
91$30,382,146$3,180,166$908,718$24,019,110
92$33,320,726$3,175,595$778,761$26,261,587
93$36,553,988$3,165,748$639,398$28,728,982
94$40,111,832$3,150,207$490,155$31,444,217
95$44,027,200$3,128,528$330,536$34,432,557
96$48,336,390$3,100,242$160,025$37,721,847
97$53,079,398$3,064,849$0$41,342,778
98$58,300,292$3,021,823$0$45,333,387
99$64,047,632$2,970,602$0$49,759,812
100$70,374,923$2,910,594$0$54,632,485