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

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 $2,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$175,068$173,508$171,987$170,502$169,052$162,989
2 years$86,667$85,053$83,489$81,972$80,501$74,458
3 years$57,204$55,583$54,023$52,520$51,073$45,240
4 years$42,476$40,859$39,315$37,838$36,426$30,848
5 years$33,641$32,034$30,510$29,063$27,690$22,382
6 years$27,753$26,158$24,656$23,242$21,910$16,875
7 years$23,549$21,968$20,490$19,109$17,819$13,056
8 years$20,397$18,830$17,377$16,030$14,783$10,287
9 years$17,947$16,395$14,967$13,654$12,449$8,216
10 years$15,988$14,452$13,048$11,770$10,607$6,629
11 years$14,387$12,865$11,488$10,243$9,123$5,391
12 years$13,053$11,547$10,195$8,985$7,905$4,411
13 years$11,925$10,435$9,108$7,932$6,894$3,627
14 years$10,960$9,486$8,184$7,041$6,043$2,995
15 years$10,123$8,665$7,389$6,280$5,321$2,480
16 years$9,392$7,950$6,699$5,623$4,702$2,060
17 years$8,748$7,322$6,096$5,052$4,170$1,714
18 years$8,176$6,766$5,565$4,553$3,707$1,429
19 years$7,665$6,270$5,094$4,114$3,304$1,193
20 years$7,205$5,827$4,675$3,726$2,952$997
21 years$6,790$5,427$4,300$3,381$2,641$834
22 years$6,413$5,066$3,964$3,075$2,368$699
23 years$6,069$4,738$3,660$2,800$2,125$586
24 years$5,755$4,440$3,385$2,554$1,910$491
25 years$5,466$4,166$3,135$2,332$1,719$412
26 years$5,199$3,916$2,907$2,132$1,548$346
27 years$4,953$3,685$2,700$1,952$1,396$290
28 years$4,725$3,472$2,510$1,788$1,260$244
29 years$4,513$3,276$2,336$1,640$1,137$205
30 years$4,315$3,094$2,175$1,505$1,028$172
31 years$4,131$2,925$2,028$1,382$929$145
32 years$3,958$2,767$1,892$1,270$840$121
33 years$3,797$2,621$1,767$1,168$761$102
34 years$3,645$2,484$1,651$1,075$689$86
35 years$3,502$2,356$1,543$989$624$72
36 years$3,367$2,236$1,444$911$565$61
37 years$3,240$2,124$1,351$840$512$51
38 years$3,120$2,018$1,266$774$464$43
39 years$3,006$1,919$1,186$714$421$36
40 years$2,898$1,826$1,111$658$382$30
41 years$2,796$1,738$1,042$607$347$25
42 years$2,699$1,655$977$560$314$21
43 years$2,607$1,577$917$517$285$18
44 years$2,519$1,503$861$478$259$15
45 years$2,435$1,434$808$441$235$13
46 years$2,355$1,368$759$407$214$11
47 years$2,279$1,305$713$376$194$9
48 years$2,206$1,246$670$348$176$8
49 years$2,137$1,190$630$321$160$6
50 years$2,070$1,137$592$297$145$5

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 $4,355 every year, while hoping to spend $28,475 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: 71/6/23 Blend
59$2,120,000$2,120,000$2,120,000$2,120,000
60$2,340,732$2,228,372$2,195,512$2,493,200
61$2,549,190$2,307,265$2,238,765$2,674,438
62$2,777,955$2,389,070$2,282,512$2,869,056
63$3,029,071$2,473,898$2,326,740$3,081,468
64$3,304,785$2,561,868$2,371,434$3,313,438
65$3,607,574$2,653,100$2,416,579$3,566,906
66$3,940,167$2,747,723$2,462,155$3,844,013
67$4,305,571$2,845,868$2,508,143$4,147,113
68$4,707,096$2,947,672$2,554,523$4,478,802
69$5,148,391$3,053,279$2,601,270$4,841,937
70$5,633,474$3,162,838$2,648,361$5,239,668
71$6,166,775$3,276,503$2,695,767$5,675,460
72$6,753,171$3,394,437$2,743,460$6,153,136
73$7,398,037$3,516,806$2,791,409$6,676,903
74$8,107,294$3,643,788$2,839,579$7,251,398
75$8,887,468$3,775,563$2,887,934$7,881,728
76$9,745,746$3,912,322$2,936,436$8,573,521
77$10,690,049$4,054,262$2,985,043$9,332,977
78$11,729,103$4,201,590$3,033,711$10,166,925
79$12,872,523$4,354,520$3,082,393$11,082,892
80$14,130,905$4,513,276$3,131,037$12,089,168
81$15,515,921$4,678,090$3,179,591$13,194,890
82$17,040,435$4,849,206$3,227,997$14,410,124
83$18,718,618$5,026,876$3,276,193$15,745,959
84$20,566,087$5,211,364$3,324,116$17,214,616
85$22,600,051$5,402,944$3,371,697$18,829,560
86$24,839,471$5,601,902$3,418,863$20,605,628
87$27,305,238$5,808,537$3,465,537$22,559,166
88$30,020,377$6,023,159$3,511,637$24,708,189
89$33,010,255$6,246,094$3,557,076$27,072,545
90$36,302,826$6,477,677$3,601,763$29,674,106
91$39,928,893$6,718,263$3,645,601$32,536,971
92$43,922,400$6,968,217$3,688,488$35,687,698
93$48,320,748$7,227,923$3,730,316$39,155,549
94$53,165,153$7,497,779$3,770,970$42,972,771
95$58,501,031$7,778,203$3,810,330$47,174,895
96$64,378,429$8,069,628$3,848,269$51,801,077
97$70,852,496$8,372,508$3,884,654$56,894,464
98$77,984,004$8,687,313$3,919,342$62,502,599
99$85,839,918$9,014,538$3,952,186$68,677,876
100$94,494,035$9,354,695$3,983,030$75,478,029