Can I retire at age 60 with 2,130,000?

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 $2,130,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$175,893$174,327$172,798$171,306$169,849$165,542
2 years$87,076$85,454$83,883$82,359$80,881$76,569
3 years$57,474$55,845$54,278$52,768$51,314$47,133
4 years$42,676$41,052$39,500$38,016$36,598$32,579
5 years$33,799$32,185$30,654$29,200$27,821$23,976
6 years$27,884$26,282$24,773$23,352$22,014$18,347
7 years$23,660$22,071$20,586$19,199$17,903$14,414
8 years$20,493$18,919$17,459$16,105$14,852$11,540
9 years$18,032$16,473$15,037$13,718$12,508$9,369
10 years$16,064$14,520$13,110$11,825$10,657$7,688
11 years$14,455$12,926$11,542$10,291$9,166$6,362
12 years$13,115$11,602$10,243$9,027$7,943$5,300
13 years$11,982$10,485$9,151$7,969$6,926$4,439
14 years$11,011$9,530$8,223$7,074$6,071$3,734
15 years$10,171$8,706$7,424$6,309$5,346$3,152
16 years$9,437$7,988$6,731$5,649$4,725$2,669
17 years$8,789$7,356$6,125$5,076$4,189$2,265
18 years$8,215$6,798$5,591$4,574$3,725$1,927
19 years$7,701$6,300$5,118$4,133$3,320$1,642
20 years$7,239$5,854$4,697$3,743$2,966$1,401
21 years$6,822$5,453$4,321$3,397$2,654$1,197
22 years$6,443$5,090$3,982$3,089$2,379$1,024
23 years$6,098$4,761$3,677$2,813$2,135$876
24 years$5,782$4,460$3,400$2,566$1,919$751
25 years$5,491$4,186$3,150$2,343$1,727$644
26 years$5,224$3,934$2,921$2,143$1,556$552
27 years$4,977$3,702$2,712$1,961$1,403$474
28 years$4,747$3,489$2,522$1,797$1,266$407
29 years$4,534$3,291$2,347$1,648$1,143$349
30 years$4,336$3,108$2,186$1,512$1,033$300
31 years$4,150$2,938$2,038$1,389$934$258
32 years$3,977$2,780$1,901$1,276$844$222
33 years$3,815$2,633$1,775$1,174$764$190
34 years$3,662$2,495$1,659$1,080$692$164
35 years$3,518$2,367$1,551$994$627$141
36 years$3,383$2,247$1,451$916$568$121
37 years$3,255$2,134$1,358$844$515$104
38 years$3,135$2,028$1,271$778$467$90
39 years$3,020$1,928$1,191$717$423$77
40 years$2,912$1,835$1,117$661$384$66
41 years$2,809$1,746$1,047$610$348$57
42 years$2,712$1,663$982$563$316$49
43 years$2,619$1,585$922$520$287$42
44 years$2,531$1,510$865$480$260$36
45 years$2,447$1,440$812$443$236$31
46 years$2,366$1,374$763$409$215$27
47 years$2,290$1,311$717$378$195$23
48 years$2,217$1,252$674$350$177$20
49 years$2,147$1,195$633$323$161$17
50 years$2,080$1,142$595$299$146$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,130,000, adding $6,973 every year, while hoping to spend $36,883 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: 59/31/10 Blend
59$2,130,000$2,130,000$2,130,000$2,130,000
60$2,354,453$2,241,563$2,208,548$2,487,439
61$2,555,364$2,312,156$2,243,291$2,648,270
62$2,775,531$2,384,972$2,277,962$2,818,778
63$3,016,881$2,460,081$2,312,519$3,003,795
64$3,281,533$2,537,556$2,346,918$3,204,719
65$3,571,823$2,617,469$2,381,114$3,423,088
66$3,890,323$2,699,900$2,415,055$3,660,594
67$4,239,867$2,784,925$2,448,690$3,919,099
68$4,623,575$2,872,628$2,481,963$4,200,655
69$5,044,885$2,963,093$2,514,814$4,507,517
70$5,507,585$3,056,406$2,547,182$4,842,169
71$6,015,846$3,152,657$2,579,000$5,207,347
72$6,574,264$3,251,939$2,610,198$5,606,062
73$7,187,901$3,354,346$2,640,703$6,041,628
74$7,862,337$3,459,979$2,670,436$6,517,697
75$8,603,714$3,568,937$2,699,314$7,038,289
76$9,418,804$3,681,326$2,727,253$7,607,829
77$10,315,065$3,797,254$2,754,158$8,231,194
78$11,300,714$3,916,831$2,779,935$8,913,753
79$12,384,804$4,040,174$2,804,480$9,661,418
80$13,577,312$4,167,400$2,827,688$10,480,704
81$14,889,227$4,298,632$2,849,445$11,378,784
82$16,332,659$4,433,995$2,869,632$12,363,561
83$17,920,949$4,573,621$2,888,124$13,443,738
84$19,668,800$4,717,642$2,904,790$14,628,905
85$21,592,409$4,866,198$2,919,492$15,929,624
86$23,709,624$5,019,431$2,932,084$17,357,530
87$26,040,110$5,177,488$2,942,413$18,925,444
88$28,605,538$5,340,521$2,950,320$20,647,485
89$31,429,783$5,508,686$2,955,637$22,539,213
90$34,539,155$5,682,146$2,958,185$24,617,767
91$37,962,645$5,861,067$2,957,780$26,902,032
92$41,732,196$6,045,621$2,954,227$29,412,814
93$45,883,008$6,235,985$2,947,321$32,173,034
94$50,453,868$6,432,341$2,936,850$35,207,949
95$55,487,516$6,634,879$2,922,588$38,545,386
96$61,031,047$6,843,793$2,904,299$42,216,006
97$67,136,359$7,059,284$2,881,738$46,253,589
98$73,860,637$7,281,558$2,854,646$50,695,359
99$81,266,897$7,510,829$2,822,751$55,582,328
100$89,424,578$7,747,318$2,785,771$60,959,687