Can I retire at age 60 with 2,060,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $2,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$170,113$168,598$167,119$165,676$164,267$162,687
2 years$84,214$82,646$81,126$79,652$78,223$76,631
3 years$55,585$54,010$52,494$51,034$49,628$48,074
4 years$41,273$39,703$38,202$36,767$35,395$33,891
5 years$32,689$31,128$29,646$28,241$26,907$25,456
6 years$26,967$25,418$23,959$22,584$21,290$19,896
7 years$22,882$21,346$19,910$18,568$17,315$15,977
8 years$19,820$18,298$16,885$15,576$14,364$13,083
9 years$17,439$15,931$14,543$13,267$12,097$10,871
10 years$15,536$14,043$12,679$11,437$10,307$9,137
11 years$13,980$12,501$11,162$9,953$8,864$7,749
12 years$12,684$11,221$9,906$8,730$7,682$6,619
13 years$11,588$10,140$8,851$7,708$6,699$5,688
14 years$10,649$9,217$7,952$6,842$5,872$4,912
15 years$9,837$8,420$7,180$6,102$5,170$4,260
16 years$9,127$7,725$6,510$5,463$4,569$3,707
17 years$8,501$7,115$5,924$4,909$4,052$3,235
18 years$7,945$6,574$5,407$4,424$3,602$2,831
19 years$7,448$6,093$4,950$3,997$3,211$2,482
20 years$7,001$5,662$4,543$3,620$2,868$2,181
21 years$6,598$5,274$4,179$3,286$2,567$1,919
22 years$6,231$4,923$3,851$2,987$2,301$1,691
23 years$5,897$4,604$3,556$2,721$2,065$1,492
24 years$5,592$4,314$3,289$2,481$1,856$1,318
25 years$5,311$4,048$3,046$2,266$1,670$1,165
26 years$5,052$3,805$2,825$2,072$1,505$1,031
27 years$4,813$3,581$2,623$1,897$1,356$913
28 years$4,591$3,374$2,439$1,738$1,224$809
29 years$4,385$3,183$2,269$1,594$1,105$717
30 years$4,193$3,006$2,114$1,462$999$636
31 years$4,014$2,842$1,971$1,343$903$564
32 years$3,846$2,689$1,839$1,234$817$501
33 years$3,689$2,546$1,717$1,135$739$445
34 years$3,542$2,413$1,604$1,044$669$395
35 years$3,403$2,289$1,500$961$606$351
36 years$3,272$2,173$1,403$885$549$312
37 years$3,148$2,064$1,313$816$498$277
38 years$3,032$1,961$1,230$752$451$247
39 years$2,921$1,865$1,152$693$409$219
40 years$2,816$1,774$1,080$640$371$195
41 years$2,717$1,689$1,013$590$337$174
42 years$2,623$1,608$950$545$306$154
43 years$2,533$1,533$891$503$277$137
44 years$2,448$1,461$837$464$252$122
45 years$2,366$1,393$786$429$228$109
46 years$2,289$1,329$738$396$207$97
47 years$2,215$1,268$693$366$188$86
48 years$2,144$1,211$651$338$171$77
49 years$2,076$1,156$612$312$155$68
50 years$2,011$1,104$576$289$141$61

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,060,000, adding $5,089 every year, while hoping to spend $56,998 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: 77/14/9 Blend
59$2,060,000$2,060,000$2,060,000$2,060,000
60$2,275,369$2,166,189$2,134,259$2,446,922
61$2,446,812$2,211,687$2,145,112$2,605,915
62$2,633,831$2,257,504$2,154,417$2,772,372
63$2,837,955$2,303,595$2,162,064$2,953,234
64$3,060,868$2,349,913$2,167,934$3,149,912
65$3,304,421$2,396,403$2,171,904$3,363,959
66$3,570,653$2,443,009$2,173,845$3,597,084
67$3,861,811$2,489,667$2,173,620$3,851,172
68$4,180,366$2,536,311$2,171,086$4,128,296
69$4,529,040$2,582,867$2,166,094$4,430,743
70$4,910,830$2,629,256$2,158,487$4,761,028
71$5,329,038$2,675,392$2,148,099$5,121,927
72$5,787,298$2,721,184$2,134,758$5,516,493
73$6,289,613$2,766,533$2,118,284$5,948,093
74$6,840,393$2,811,333$2,098,485$6,420,434
75$7,444,493$2,855,468$2,075,165$6,937,603
76$8,107,263$2,898,817$2,048,114$7,504,100
77$8,834,593$2,941,249$2,017,115$8,124,886
78$9,632,973$2,982,621$1,981,940$8,805,425
79$10,509,551$3,022,785$1,942,350$9,551,739
80$11,472,202$3,061,578$1,898,095$10,370,463
81$12,529,599$3,098,828$1,848,914$11,268,907
82$13,691,299$3,134,351$1,794,534$12,255,129
83$14,967,828$3,167,951$1,734,667$13,338,004
84$16,370,784$3,199,418$1,669,016$14,527,317
85$17,912,942$3,228,528$1,597,266$15,833,846
86$19,608,379$3,255,043$1,519,092$17,269,471
87$21,472,603$3,278,709$1,434,151$18,847,281
88$23,522,699$3,299,257$1,342,085$20,581,702
89$25,777,492$3,316,397$1,242,522$22,488,630
90$28,257,721$3,329,826$1,135,072$24,585,584
91$30,986,237$3,339,216$1,019,325$26,891,867
92$33,988,218$3,344,222$894,858$29,428,754
93$37,291,405$3,344,478$761,224$32,219,690
94$40,926,363$3,339,592$617,960$35,290,510
95$44,926,771$3,329,151$464,580$38,669,686
96$49,329,737$3,312,714$300,579$42,388,595
97$54,176,149$3,289,816$125,427$46,481,815
98$59,511,061$3,259,962$0$50,987,452
99$65,384,115$3,222,626$0$55,953,405
100$71,850,013$3,177,253$0$61,433,286