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%15.9%
1 years$175,068$173,508$171,987$170,502$169,052$164,965
2 years$86,667$85,053$83,489$81,972$80,501$76,408
3 years$57,204$55,583$54,023$52,520$51,073$47,102
4 years$42,476$40,859$39,315$37,838$36,426$32,607
5 years$33,641$32,034$30,510$29,063$27,690$24,035
6 years$27,753$26,158$24,656$23,242$21,910$18,422
7 years$23,549$21,968$20,490$19,109$17,819$14,498
8 years$20,397$18,830$17,377$16,030$14,783$11,627
9 years$17,947$16,395$14,967$13,654$12,449$9,457
10 years$15,988$14,452$13,048$11,770$10,607$7,775
11 years$14,387$12,865$11,488$10,243$9,123$6,446
12 years$13,053$11,547$10,195$8,985$7,905$5,380
13 years$11,925$10,435$9,108$7,932$6,894$4,515
14 years$10,960$9,486$8,184$7,041$6,043$3,806
15 years$10,123$8,665$7,389$6,280$5,321$3,220
16 years$9,392$7,950$6,699$5,623$4,702$2,732
17 years$8,748$7,322$6,096$5,052$4,170$2,324
18 years$8,176$6,766$5,565$4,553$3,707$1,981
19 years$7,665$6,270$5,094$4,114$3,304$1,692
20 years$7,205$5,827$4,675$3,726$2,952$1,447
21 years$6,790$5,427$4,300$3,381$2,641$1,239
22 years$6,413$5,066$3,964$3,075$2,368$1,062
23 years$6,069$4,738$3,660$2,800$2,125$911
24 years$5,755$4,440$3,385$2,554$1,910$783
25 years$5,466$4,166$3,135$2,332$1,719$673
26 years$5,199$3,916$2,907$2,132$1,548$578
27 years$4,953$3,685$2,700$1,952$1,396$497
28 years$4,725$3,472$2,510$1,788$1,260$428
29 years$4,513$3,276$2,336$1,640$1,137$368
30 years$4,315$3,094$2,175$1,505$1,028$317
31 years$4,131$2,925$2,028$1,382$929$273
32 years$3,958$2,767$1,892$1,270$840$236
33 years$3,797$2,621$1,767$1,168$761$203
34 years$3,645$2,484$1,651$1,075$689$175
35 years$3,502$2,356$1,543$989$624$151
36 years$3,367$2,236$1,444$911$565$130
37 years$3,240$2,124$1,351$840$512$112
38 years$3,120$2,018$1,266$774$464$97
39 years$3,006$1,919$1,186$714$421$83
40 years$2,898$1,826$1,111$658$382$72
41 years$2,796$1,738$1,042$607$347$62
42 years$2,699$1,655$977$560$314$53
43 years$2,607$1,577$917$517$285$46
44 years$2,519$1,503$861$478$259$40
45 years$2,435$1,434$808$441$235$34
46 years$2,355$1,368$759$407$214$30
47 years$2,279$1,305$713$376$194$26
48 years$2,206$1,246$670$348$176$22
49 years$2,137$1,190$630$321$160$19
50 years$2,070$1,137$592$297$145$16

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 $6,292 every year, while hoping to spend $20,779 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: 68/13/19 Blend
59$2,120,000$2,120,000$2,120,000$2,120,000
60$2,342,730$2,230,370$2,197,510$2,490,685
61$2,559,580$2,317,550$2,249,018$2,677,535
62$2,797,852$2,408,304$2,301,555$2,878,836
63$3,059,709$2,502,788$2,355,134$3,098,526
64$3,347,535$2,601,160$2,409,766$3,338,415
65$3,663,955$2,703,588$2,465,465$3,600,495
66$4,011,861$2,810,247$2,522,240$3,886,961
67$4,394,441$2,921,318$2,580,105$4,200,227
68$4,815,204$3,036,994$2,639,069$4,542,952
69$5,278,021$3,157,472$2,699,143$4,918,065
70$5,787,152$3,282,961$2,760,338$5,328,790
71$6,347,293$3,413,678$2,822,661$5,778,678
72$6,963,620$3,549,851$2,886,123$6,271,638
73$7,641,832$3,691,716$2,950,731$6,811,976
74$8,388,211$3,839,523$3,016,493$7,404,436
75$9,209,679$3,993,530$3,083,416$8,054,240
76$10,113,862$4,154,008$3,151,506$8,767,141
77$11,109,162$4,321,241$3,220,767$9,549,476
78$12,204,839$4,495,524$3,291,205$10,408,225
79$13,411,095$4,677,167$3,362,823$11,351,076
80$14,739,172$4,866,494$3,435,623$12,386,498
81$16,201,458$5,063,842$3,509,606$13,523,819
82$17,811,601$5,269,565$3,584,773$14,773,317
83$19,584,644$5,484,033$3,661,122$16,146,314
84$21,537,159$5,707,632$3,738,651$17,655,280
85$23,687,409$5,940,766$3,817,356$19,313,955
86$26,055,519$6,183,858$3,897,232$21,137,478
87$28,663,664$6,437,349$3,978,271$23,142,523
88$31,536,280$6,701,702$4,060,466$25,347,465
89$34,700,294$6,977,398$4,143,804$27,772,544
90$38,185,378$7,264,944$4,228,276$30,440,062
91$42,024,228$7,564,868$4,313,864$33,374,591
92$46,252,875$7,877,723$4,400,555$36,603,201
93$50,911,023$8,204,085$4,488,328$40,155,722
94$56,042,422$8,544,561$4,577,162$44,065,017
95$61,695,287$8,899,782$4,667,035$48,367,296
96$67,922,745$9,270,410$4,757,919$53,102,457
97$74,783,341$9,657,136$4,849,785$58,314,460
98$82,341,591$10,060,685$4,942,603$64,051,743
99$90,668,589$10,481,814$5,036,335$70,367,677
100$99,842,677$10,921,316$5,130,945$77,321,070