Can I retire at age 60 with 2,160,000?

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 $2,160,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$178,371$176,782$175,232$173,719$172,241$167,466
2 years$88,302$86,658$85,064$83,519$82,020$77,245
3 years$58,283$56,632$55,042$53,511$52,037$47,411
4 years$43,277$41,630$40,057$38,552$37,113$32,672
5 years$34,275$32,639$31,085$29,611$28,213$23,969
6 years$28,276$26,652$25,122$23,681$22,324$18,281
7 years$23,993$22,382$20,876$19,469$18,155$14,314
8 years$20,782$19,186$17,705$16,332$15,061$11,419
9 years$18,286$16,705$15,249$13,911$12,684$9,238
10 years$16,290$14,724$13,294$11,992$10,807$7,552
11 years$14,658$13,108$11,704$10,436$9,295$6,226
12 years$13,299$11,765$10,387$9,154$8,055$5,166
13 years$12,150$10,632$9,280$8,082$7,024$4,309
14 years$11,166$9,664$8,338$7,174$6,157$3,610
15 years$10,314$8,829$7,528$6,398$5,421$3,034
16 years$9,570$8,100$6,826$5,729$4,791$2,558
17 years$8,913$7,460$6,211$5,147$4,248$2,162
18 years$8,330$6,893$5,670$4,639$3,777$1,831
19 years$7,809$6,389$5,191$4,191$3,367$1,553
20 years$7,341$5,937$4,764$3,796$3,007$1,319
21 years$6,918$5,530$4,382$3,445$2,691$1,122
22 years$6,534$5,162$4,038$3,133$2,412$955
23 years$6,184$4,828$3,729$2,853$2,165$814
24 years$5,863$4,523$3,448$2,602$1,946$694
25 years$5,569$4,245$3,194$2,376$1,751$592
26 years$5,297$3,990$2,962$2,173$1,578$505
27 years$5,047$3,755$2,751$1,989$1,422$431
28 years$4,814$3,538$2,557$1,822$1,283$369
29 years$4,598$3,338$2,380$1,671$1,159$315
30 years$4,397$3,152$2,216$1,533$1,047$269
31 years$4,209$2,980$2,066$1,408$947$230
32 years$4,033$2,819$1,928$1,294$856$197
33 years$3,868$2,670$1,800$1,190$775$168
34 years$3,713$2,531$1,682$1,095$702$144
35 years$3,568$2,400$1,573$1,008$636$123
36 years$3,431$2,278$1,471$928$576$105
37 years$3,301$2,164$1,377$855$522$90
38 years$3,179$2,056$1,289$788$473$77
39 years$3,063$1,955$1,208$727$429$66
40 years$2,953$1,860$1,132$671$389$57
41 years$2,849$1,771$1,062$619$353$48
42 years$2,750$1,687$996$571$320$41
43 years$2,656$1,607$935$527$291$35
44 years$2,566$1,532$877$487$264$30
45 years$2,481$1,461$824$449$240$26
46 years$2,400$1,393$774$415$218$22
47 years$2,322$1,330$727$384$198$19
48 years$2,248$1,269$683$354$179$16
49 years$2,177$1,212$642$328$163$14
50 years$2,109$1,158$604$303$148$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,160,000, adding $4,881 every year, while hoping to spend $41,060 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: 74/12/14 Blend
59$2,160,000$2,160,000$2,160,000$2,160,000
60$2,385,355$2,270,875$2,237,395$2,554,362
61$2,584,973$2,338,460$2,268,660$2,734,371
62$2,803,577$2,407,981$2,299,596$2,925,984
63$3,043,059$2,479,489$2,330,150$3,134,821
64$3,305,503$2,553,036$2,360,262$3,362,580
65$3,593,207$2,628,677$2,389,873$3,611,133
66$3,908,698$2,706,467$2,418,918$3,882,539
67$4,254,763$2,786,461$2,447,330$4,179,066
68$4,634,468$2,868,717$2,475,035$4,503,214
69$5,051,194$2,953,295$2,501,958$4,857,735
70$5,508,662$3,040,252$2,528,020$5,245,660
71$6,010,973$3,129,652$2,553,136$5,670,328
72$6,562,642$3,221,555$2,577,216$6,135,418
73$7,168,646$3,316,026$2,600,168$6,644,982
74$7,834,466$3,413,129$2,621,891$7,203,483
75$8,566,141$3,512,931$2,642,283$7,815,839
76$9,370,321$3,615,499$2,661,234$8,487,469
77$10,254,337$3,720,901$2,678,628$9,224,339
78$11,226,262$3,829,208$2,694,345$10,033,027
79$12,294,991$3,940,490$2,708,256$10,920,776
80$13,470,326$4,054,820$2,720,229$11,895,569
81$14,763,065$4,172,271$2,730,122$12,966,201
82$16,185,104$4,292,919$2,737,787$14,142,362
83$17,749,551$4,416,839$2,743,070$15,434,728
84$19,470,850$4,544,108$2,745,807$16,855,063
85$21,364,912$4,674,805$2,745,827$18,416,330
86$23,449,272$4,809,009$2,742,951$20,132,811
87$25,743,249$4,946,802$2,736,991$22,020,243
88$28,268,128$5,088,264$2,727,749$24,095,967
89$31,047,367$5,233,478$2,715,017$26,379,091
90$34,106,808$5,382,528$2,698,580$28,890,671
91$37,474,929$5,535,498$2,678,209$31,653,906
92$41,183,109$5,692,475$2,653,667$34,694,362
93$45,265,925$5,853,545$2,624,703$38,040,211
94$49,761,475$6,018,794$2,591,056$41,722,495
95$54,711,741$6,188,311$2,552,453$45,775,421
96$60,162,984$6,362,184$2,508,606$50,236,683
97$66,166,180$6,540,502$2,459,215$55,147,820
98$72,777,498$6,723,355$2,403,967$60,554,604
99$80,058,836$6,910,832$2,342,533$66,507,472
100$88,078,398$7,103,024$2,274,568$73,062,009