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%11.5%
1 years$168,461$166,961$165,497$164,068$162,672$161,647
2 years$83,397$81,843$80,338$78,879$77,463$76,429
3 years$55,046$53,486$51,984$50,538$49,146$48,135
4 years$40,873$39,318$37,831$36,410$35,051$34,071
5 years$32,371$30,825$29,359$27,966$26,645$25,699
6 years$26,705$25,171$23,726$22,365$21,084$20,172
7 years$22,660$21,139$19,716$18,387$17,147$16,271
8 years$19,627$18,120$16,721$15,425$14,225$13,384
9 years$17,270$15,777$14,402$13,138$11,979$11,174
10 years$15,385$13,906$12,556$11,326$10,207$9,437
11 years$13,844$12,380$11,054$9,857$8,778$8,042
12 years$12,560$11,112$9,810$8,646$7,607$6,905
13 years$11,475$10,042$8,765$7,633$6,634$5,964
14 years$10,546$9,128$7,875$6,775$5,815$5,178
15 years$9,741$8,338$7,110$6,043$5,120$4,514
16 years$9,038$7,650$6,446$5,410$4,525$3,949
17 years$8,418$7,045$5,866$4,861$4,012$3,466
18 years$7,867$6,510$5,355$4,381$3,567$3,050
19 years$7,376$6,034$4,902$3,959$3,180$2,690
20 years$6,933$5,607$4,499$3,585$2,840$2,377
21 years$6,534$5,223$4,138$3,254$2,542$2,104
22 years$6,171$4,875$3,814$2,958$2,278$1,865
23 years$5,840$4,560$3,522$2,694$2,045$1,656
24 years$5,538$4,272$3,257$2,457$1,838$1,471
25 years$5,259$4,009$3,016$2,244$1,654$1,309
26 years$5,003$3,768$2,798$2,052$1,490$1,166
27 years$4,766$3,546$2,598$1,878$1,343$1,039
28 years$4,547$3,341$2,415$1,721$1,212$926
29 years$4,343$3,152$2,247$1,578$1,094$826
30 years$4,153$2,977$2,093$1,448$989$738
31 years$3,975$2,814$1,952$1,330$894$659
32 years$3,809$2,663$1,821$1,222$809$589
33 years$3,653$2,522$1,700$1,124$732$526
34 years$3,507$2,390$1,589$1,034$663$471
35 years$3,370$2,267$1,485$952$600$421
36 years$3,240$2,152$1,389$877$544$377
37 years$3,118$2,044$1,300$808$493$337
38 years$3,002$1,942$1,218$745$447$302
39 years$2,893$1,847$1,141$687$405$270
40 years$2,789$1,757$1,069$633$368$242
41 years$2,691$1,673$1,003$584$333$217
42 years$2,597$1,593$941$539$303$194
43 years$2,508$1,518$883$498$275$174
44 years$2,424$1,447$828$460$249$156
45 years$2,343$1,380$778$424$226$140
46 years$2,266$1,316$731$392$205$125
47 years$2,193$1,256$686$362$187$112
48 years$2,123$1,199$645$335$169$101
49 years$2,056$1,145$606$309$154$90
50 years$1,992$1,094$570$286$140$81

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 $5,716 every year, while hoping to spend $51,837 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: 61/23/16 Blend
59$2,040,000$2,040,000$2,040,000$2,040,000
60$2,253,976$2,145,856$2,114,236$2,382,044
61$2,428,727$2,195,849$2,129,909$2,518,982
62$2,619,566$2,246,554$2,144,369$2,662,030
63$2,828,078$2,297,951$2,157,522$2,816,913
64$3,056,010$2,350,019$2,169,267$2,984,783
65$3,305,284$2,402,731$2,179,498$3,166,910
66$3,578,017$2,456,059$2,188,106$3,364,692
67$3,876,541$2,509,971$2,194,973$3,579,668
68$4,203,421$2,564,433$2,199,977$3,813,536
69$4,561,484$2,619,404$2,202,991$4,068,164
70$4,953,843$2,674,843$2,203,878$4,345,614
71$5,383,926$2,730,701$2,202,499$4,648,154
72$5,855,508$2,786,927$2,198,705$4,978,286
73$6,372,748$2,843,464$2,192,339$5,338,766
74$6,940,225$2,900,251$2,183,240$5,732,631
75$7,562,986$2,957,221$2,171,236$6,163,228
76$8,246,585$3,014,300$2,156,148$6,634,245
77$8,997,146$3,071,410$2,137,787$7,149,748
78$9,821,410$3,128,464$2,115,958$7,714,216
79$10,726,805$3,185,370$2,090,455$8,332,585
80$11,721,515$3,242,029$2,061,060$9,010,298
81$12,814,553$3,298,332$2,027,549$9,753,349
82$14,015,850$3,354,163$1,989,685$10,568,350
83$15,336,348$3,409,398$1,947,221$11,462,582
84$16,788,099$3,463,902$1,899,896$12,444,073
85$18,384,383$3,517,531$1,847,440$13,521,672
86$20,139,831$3,570,131$1,789,570$14,705,129
87$22,070,562$3,621,535$1,725,989$16,005,191
88$24,194,336$3,671,568$1,656,387$17,433,703
89$26,530,722$3,720,038$1,580,439$19,003,720
90$29,101,278$3,766,743$1,497,807$20,729,631
91$31,929,761$3,811,465$1,408,136$22,627,292
92$35,042,344$3,853,974$1,311,055$24,714,183
93$38,467,866$3,894,022$1,206,179$27,009,566
94$42,238,104$3,931,345$1,093,102$29,534,672
95$46,388,072$3,965,662$971,402$32,312,900
96$50,956,350$3,996,674$840,638$35,370,040
97$55,985,447$4,024,061$700,350$38,734,515
98$61,522,207$4,047,484$550,056$42,437,652
99$67,618,243$4,066,582$389,253$46,513,978
100$74,330,428$4,080,969$217,418$51,001,546