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

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 $2,060,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$170,113$168,598$167,119$165,676$164,267$160,951
2 years$84,214$82,646$81,126$79,652$78,223$74,896
3 years$55,585$54,010$52,494$51,034$49,628$46,394
4 years$41,273$39,703$38,202$36,767$35,395$32,280
5 years$32,689$31,128$29,646$28,241$26,907$23,919
6 years$26,967$25,418$23,959$22,584$21,290$18,433
7 years$22,882$21,346$19,910$18,568$17,315$14,589
8 years$19,820$18,298$16,885$15,576$14,364$11,768
9 years$17,439$15,931$14,543$13,267$12,097$9,629
10 years$15,536$14,043$12,679$11,437$10,307$7,966
11 years$13,980$12,501$11,162$9,953$8,864$6,647
12 years$12,684$11,221$9,906$8,730$7,682$5,584
13 years$11,588$10,140$8,851$7,708$6,699$4,717
14 years$10,649$9,217$7,952$6,842$5,872$4,004
15 years$9,837$8,420$7,180$6,102$5,170$3,411
16 years$9,127$7,725$6,510$5,463$4,569$2,915
17 years$8,501$7,115$5,924$4,909$4,052$2,497
18 years$7,945$6,574$5,407$4,424$3,602$2,144
19 years$7,448$6,093$4,950$3,997$3,211$1,845
20 years$7,001$5,662$4,543$3,620$2,868$1,590
21 years$6,598$5,274$4,179$3,286$2,567$1,372
22 years$6,231$4,923$3,851$2,987$2,301$1,185
23 years$5,897$4,604$3,556$2,721$2,065$1,025
24 years$5,592$4,314$3,289$2,481$1,856$887
25 years$5,311$4,048$3,046$2,266$1,670$768
26 years$5,052$3,805$2,825$2,072$1,505$666
27 years$4,813$3,581$2,623$1,897$1,356$578
28 years$4,591$3,374$2,439$1,738$1,224$501
29 years$4,385$3,183$2,269$1,594$1,105$435
30 years$4,193$3,006$2,114$1,462$999$378
31 years$4,014$2,842$1,971$1,343$903$328
32 years$3,846$2,689$1,839$1,234$817$285
33 years$3,689$2,546$1,717$1,135$739$248
34 years$3,542$2,413$1,604$1,044$669$215
35 years$3,403$2,289$1,500$961$606$187
36 years$3,272$2,173$1,403$885$549$163
37 years$3,148$2,064$1,313$816$498$141
38 years$3,032$1,961$1,230$752$451$123
39 years$2,921$1,865$1,152$693$409$107
40 years$2,816$1,774$1,080$640$371$93
41 years$2,717$1,689$1,013$590$337$81
42 years$2,623$1,608$950$545$306$70
43 years$2,533$1,533$891$503$277$61
44 years$2,448$1,461$837$464$252$53
45 years$2,366$1,393$786$429$228$46
46 years$2,289$1,329$738$396$207$40
47 years$2,215$1,268$693$366$188$35
48 years$2,144$1,211$651$338$171$31
49 years$2,076$1,156$612$312$155$27
50 years$2,011$1,104$576$289$141$23

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 $4,748 every year, while hoping to spend $50,111 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: 59/27/14 Blend
59$2,060,000$2,060,000$2,060,000$2,060,000
60$2,275,018$2,165,838$2,133,908$2,400,974
61$2,453,752$2,218,646$2,152,076$2,539,315
62$2,649,037$2,272,362$2,169,173$2,684,105
63$2,862,509$2,326,978$2,185,111$2,840,811
64$3,095,969$2,382,484$2,199,795$3,010,586
65$3,351,397$2,438,866$2,213,129$3,194,703
66$3,630,979$2,496,109$2,225,007$3,394,562
67$3,937,116$2,554,196$2,235,322$3,611,704
68$4,272,457$2,613,106$2,243,960$3,847,828
69$4,639,915$2,672,816$2,250,801$4,104,807
70$5,042,702$2,733,299$2,255,718$4,384,701
71$5,484,352$2,794,526$2,258,580$4,689,782
72$5,968,761$2,856,462$2,259,247$5,022,552
73$6,500,217$2,919,072$2,257,574$5,385,770
74$7,083,445$2,982,312$2,253,409$5,782,472
75$7,723,649$3,046,137$2,246,590$6,216,007
76$8,426,560$3,110,498$2,236,950$6,690,062
77$9,198,495$3,175,337$2,224,313$7,208,703
78$10,046,408$3,240,595$2,208,494$7,776,409
79$10,977,962$3,306,206$2,189,300$8,398,115
80$12,001,600$3,372,096$2,166,528$9,079,261
81$13,126,622$3,438,187$2,139,965$9,825,839
82$14,363,273$3,504,393$2,109,389$10,644,456
83$15,722,841$3,570,622$2,074,567$11,542,392
84$17,217,762$3,636,774$2,035,257$12,527,667
85$18,861,737$3,702,740$1,991,201$13,609,124
86$20,669,863$3,768,402$1,942,135$14,796,505
87$22,658,770$3,833,636$1,887,778$16,100,549
88$24,846,785$3,898,304$1,827,838$17,533,089
89$27,254,096$3,962,260$1,762,011$19,107,168
90$29,902,951$4,025,348$1,689,975$20,837,159
91$32,817,861$4,087,399$1,611,398$22,738,903
92$36,025,833$4,148,232$1,525,930$24,829,858
93$39,556,626$4,207,653$1,433,206$27,129,265
94$43,443,028$4,265,454$1,332,845$29,658,330
95$47,721,170$4,321,414$1,224,449$32,440,423
96$52,430,861$4,375,295$1,107,599$35,501,300
97$57,615,968$4,426,844$981,863$38,869,348
98$63,324,826$4,475,788$846,785$42,575,853
99$69,610,696$4,521,841$701,890$46,655,292
100$76,532,268$4,564,691$546,684$51,145,665