Can I retire at age 60 with 2,070,000?

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 $2,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$170,939$169,416$167,930$166,481$165,065$160,359
2 years$84,623$83,047$81,520$80,039$78,602$73,898
3 years$55,855$54,272$52,749$51,282$49,868$45,313
4 years$41,474$39,896$38,387$36,945$35,567$31,195
5 years$32,847$31,279$29,790$28,378$27,037$22,861
6 years$27,098$25,541$24,075$22,694$21,394$17,417
7 years$22,993$21,450$20,006$18,658$17,399$13,622
8 years$19,916$18,386$16,967$15,652$14,434$10,855
9 years$17,524$16,009$14,614$13,332$12,155$8,770
10 years$15,611$14,111$12,741$11,492$10,357$7,161
11 years$14,047$12,562$11,217$10,002$8,907$5,896
12 years$12,745$11,275$9,954$8,773$7,719$4,885
13 years$11,644$10,189$8,894$7,745$6,731$4,070
14 years$10,701$9,262$7,991$6,875$5,900$3,404
15 years$9,885$8,461$7,215$6,131$5,195$2,858
16 years$9,171$7,763$6,541$5,490$4,592$2,406
17 years$8,542$7,149$5,952$4,933$4,071$2,030
18 years$7,983$6,606$5,434$4,445$3,620$1,717
19 years$7,484$6,122$4,974$4,017$3,226$1,454
20 years$7,035$5,689$4,565$3,638$2,882$1,233
21 years$6,630$5,299$4,199$3,302$2,579$1,047
22 years$6,262$4,947$3,870$3,002$2,312$890
23 years$5,926$4,627$3,573$2,734$2,075$757
24 years$5,619$4,335$3,305$2,494$1,865$645
25 years$5,337$4,068$3,061$2,277$1,678$549
26 years$5,077$3,823$2,839$2,082$1,512$468
27 years$4,836$3,598$2,636$1,906$1,363$399
28 years$4,614$3,391$2,451$1,746$1,230$340
29 years$4,407$3,199$2,280$1,601$1,111$290
30 years$4,214$3,021$2,124$1,470$1,003$248
31 years$4,034$2,856$1,980$1,350$907$211
32 years$3,865$2,702$1,848$1,240$821$180
33 years$3,707$2,559$1,725$1,141$743$154
34 years$3,559$2,425$1,612$1,050$672$132
35 years$3,419$2,300$1,507$966$609$112
36 years$3,288$2,183$1,410$890$552$96
37 years$3,164$2,074$1,320$820$500$82
38 years$3,046$1,971$1,236$756$453$70
39 years$2,935$1,874$1,158$697$411$60
40 years$2,830$1,783$1,085$643$373$51
41 years$2,730$1,697$1,017$593$338$44
42 years$2,635$1,616$954$547$307$37
43 years$2,545$1,540$896$505$279$32
44 years$2,459$1,468$841$466$253$27
45 years$2,378$1,400$789$431$230$23
46 years$2,300$1,335$741$398$208$20
47 years$2,225$1,274$697$368$189$17
48 years$2,154$1,217$655$340$172$15
49 years$2,086$1,162$615$314$156$12
50 years$2,021$1,110$578$290$142$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,070,000, adding $2,143 every year, while hoping to spend $27,329 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: 66/20/14 Blend
59$2,070,000$2,070,000$2,070,000$2,070,000
60$2,283,351$2,173,641$2,141,556$2,426,437
61$2,487,174$2,251,071$2,184,220$2,599,660
62$2,710,872$2,331,380$2,227,397$2,785,531
63$2,956,443$2,414,679$2,271,077$2,988,013
64$3,226,087$2,501,085$2,315,244$3,208,729
65$3,522,229$2,590,720$2,359,887$3,449,466
66$3,847,541$2,683,709$2,404,988$3,712,191
67$4,204,965$2,780,186$2,450,530$3,999,071
68$4,597,744$2,880,287$2,496,494$4,312,489
69$5,029,447$2,984,155$2,542,860$4,655,069
70$5,504,011$3,091,938$2,589,606$5,029,701
71$6,025,769$3,203,792$2,636,707$5,439,567
72$6,599,497$3,319,878$2,684,137$5,888,170
73$7,230,457$3,440,364$2,731,867$6,379,370
74$7,924,447$3,565,424$2,779,867$6,917,414
75$8,687,852$3,695,242$2,828,104$7,506,981
76$9,527,711$3,830,007$2,876,544$8,153,225
77$10,451,777$3,969,916$2,925,147$8,861,822
78$11,468,593$4,115,177$2,973,875$9,639,022
79$12,587,573$4,266,004$3,022,683$10,491,710
80$13,819,088$4,422,620$3,071,525$11,427,472
81$15,174,566$4,585,260$3,120,352$12,454,660
82$16,666,599$4,754,166$3,169,112$13,582,477
83$18,309,064$4,929,591$3,217,748$14,821,059
84$20,117,247$5,111,800$3,266,202$16,181,573
85$22,107,996$5,301,068$3,314,409$17,676,321
86$24,299,874$5,497,682$3,362,304$19,318,855
87$26,713,334$5,701,941$3,409,814$21,124,103
88$29,370,915$5,914,158$3,456,864$23,108,514
89$32,297,453$6,134,657$3,503,374$25,290,207
90$35,520,316$6,363,777$3,549,259$27,689,147
91$39,069,659$6,601,873$3,594,431$30,327,327
92$42,978,713$6,849,313$3,638,792$33,228,982
93$47,284,094$7,106,483$3,682,245$36,420,809
94$52,026,154$7,373,782$3,724,682$39,932,226
95$57,249,354$7,651,630$3,765,991$43,795,642
96$63,002,692$7,940,463$3,806,055$48,046,769
97$69,340,158$8,240,738$3,844,750$52,724,952
98$76,321,248$8,552,928$3,881,943$57,873,547
99$84,011,523$8,877,530$3,917,496$63,540,320
100$92,483,231$9,215,061$3,951,264$69,777,905