Can I retire at age 60 with 2,120,000?

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 $2,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$175,068$173,508$171,987$170,502$169,052$168,269
2 years$86,667$85,053$83,489$81,972$80,501$79,710
3 years$57,204$55,583$54,023$52,520$51,073$50,300
4 years$42,476$40,859$39,315$37,838$36,426$35,675
5 years$33,641$32,034$30,510$29,063$27,690$26,965
6 years$27,753$26,158$24,656$23,242$21,910$21,212
7 years$23,549$21,968$20,490$19,109$17,819$17,147
8 years$20,397$18,830$17,377$16,030$14,783$14,137
9 years$17,947$16,395$14,967$13,654$12,449$11,830
10 years$15,988$14,452$13,048$11,770$10,607$10,014
11 years$14,387$12,865$11,488$10,243$9,123$8,556
12 years$13,053$11,547$10,195$8,985$7,905$7,364
13 years$11,925$10,435$9,108$7,932$6,894$6,377
14 years$10,960$9,486$8,184$7,041$6,043$5,550
15 years$10,123$8,665$7,389$6,280$5,321$4,852
16 years$9,392$7,950$6,699$5,623$4,702$4,257
17 years$8,748$7,322$6,096$5,052$4,170$3,746
18 years$8,176$6,766$5,565$4,553$3,707$3,306
19 years$7,665$6,270$5,094$4,114$3,304$2,924
20 years$7,205$5,827$4,675$3,726$2,952$2,591
21 years$6,790$5,427$4,300$3,381$2,641$2,300
22 years$6,413$5,066$3,964$3,075$2,368$2,045
23 years$6,069$4,738$3,660$2,800$2,125$1,821
24 years$5,755$4,440$3,385$2,554$1,910$1,623
25 years$5,466$4,166$3,135$2,332$1,719$1,448
26 years$5,199$3,916$2,907$2,132$1,548$1,294
27 years$4,953$3,685$2,700$1,952$1,396$1,156
28 years$4,725$3,472$2,510$1,788$1,260$1,035
29 years$4,513$3,276$2,336$1,640$1,137$926
30 years$4,315$3,094$2,175$1,505$1,028$829
31 years$4,131$2,925$2,028$1,382$929$743
32 years$3,958$2,767$1,892$1,270$840$666
33 years$3,797$2,621$1,767$1,168$761$598
34 years$3,645$2,484$1,651$1,075$689$536
35 years$3,502$2,356$1,543$989$624$481
36 years$3,367$2,236$1,444$911$565$432
37 years$3,240$2,124$1,351$840$512$388
38 years$3,120$2,018$1,266$774$464$349
39 years$3,006$1,919$1,186$714$421$313
40 years$2,898$1,826$1,111$658$382$281
41 years$2,796$1,738$1,042$607$347$253
42 years$2,699$1,655$977$560$314$227
43 years$2,607$1,577$917$517$285$204
44 years$2,519$1,503$861$478$259$184
45 years$2,435$1,434$808$441$235$165
46 years$2,355$1,368$759$407$214$149
47 years$2,279$1,305$713$376$194$134
48 years$2,206$1,246$670$348$176$120
49 years$2,137$1,190$630$321$160$108
50 years$2,070$1,137$592$297$145$97

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,120,000, adding $5,051 every year, while hoping to spend $47,654 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: 89/5/6 Blend
59$2,120,000$2,120,000$2,120,000$2,120,000
60$2,341,450$2,229,090$2,196,230$2,549,055
61$2,529,575$2,287,612$2,219,100$2,743,377
62$2,735,290$2,347,404$2,241,140$2,949,794
63$2,960,342$2,408,479$2,262,270$3,175,190
64$3,206,649$2,470,847$2,282,408$3,421,446
65$3,476,327$2,534,518$2,301,468$3,690,629
66$3,771,704$2,599,501$2,319,359$3,985,018
67$4,095,344$2,665,803$2,335,984$4,307,124
68$4,450,072$2,733,430$2,351,242$4,659,711
69$4,838,998$2,802,386$2,365,027$5,045,822
70$5,265,547$2,872,675$2,377,227$5,468,810
71$5,733,492$2,944,295$2,387,724$5,932,371
72$6,246,991$3,017,248$2,396,394$6,440,571
73$6,810,619$3,091,529$2,403,109$6,997,893
74$7,429,420$3,167,132$2,407,731$7,609,273
75$8,108,949$3,244,049$2,410,118$8,280,152
76$8,855,324$3,322,270$2,410,120$9,016,519
77$9,675,286$3,401,780$2,407,578$9,824,976
78$10,576,261$3,482,563$2,402,327$10,712,796
79$11,566,430$3,564,598$2,394,195$11,687,990
80$12,654,804$3,647,862$2,382,999$12,759,384
81$13,851,314$3,732,327$2,368,549$13,936,705
82$15,166,897$3,817,960$2,350,645$15,230,667
83$16,613,607$3,904,726$2,329,077$16,653,076
84$18,204,721$3,992,584$2,303,628$18,216,940
85$19,954,869$4,081,488$2,274,066$19,936,591
86$21,880,171$4,171,385$2,240,152$21,827,820
87$23,998,385$4,262,220$2,201,634$23,908,028
88$26,329,080$4,353,928$2,158,248$26,196,388
89$28,893,815$4,446,440$2,109,719$28,714,024
90$31,716,348$4,539,679$2,055,758$31,484,214
91$34,822,853$4,633,561$1,996,063$34,532,608
92$38,242,171$4,727,993$1,930,319$37,887,469
93$42,006,083$4,822,875$1,858,195$41,579,941
94$46,149,605$4,918,097$1,779,346$45,644,339
95$50,711,322$5,013,541$1,693,411$50,118,480
96$55,733,749$5,109,077$1,600,013$55,044,032
97$61,263,734$5,204,565$1,498,756$60,466,911
98$67,352,900$5,299,854$1,389,230$66,437,714
99$74,058,130$5,394,780$1,271,003$73,012,196
100$81,442,103$5,489,168$1,143,625$80,251,795