Can I retire at age 60 with 2,170,000?

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 $2,170,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$179,197$177,600$176,043$174,523$173,039$171,661
2 years$88,711$87,059$85,458$83,905$82,399$81,010
3 years$58,553$56,894$55,297$53,759$52,278$50,920
4 years$43,477$41,823$40,242$38,730$37,285$35,970
5 years$34,434$32,790$31,229$29,749$28,343$27,075
6 years$28,407$26,775$25,238$23,790$22,427$21,206
7 years$24,104$22,486$20,973$19,559$18,239$17,067
8 years$20,878$19,275$17,787$16,408$15,131$14,008
9 years$18,370$16,782$15,320$13,976$12,743$11,667
10 years$16,365$14,793$13,356$12,047$10,857$9,829
11 years$14,726$13,169$11,758$10,485$9,338$8,356
12 years$13,361$11,820$10,435$9,196$8,092$7,156
13 years$12,207$10,682$9,323$8,119$7,056$6,166
14 years$11,218$9,709$8,377$7,207$6,185$5,339
15 years$10,362$8,870$7,563$6,428$5,446$4,642
16 years$9,614$8,138$6,857$5,755$4,813$4,050
17 years$8,954$7,494$6,240$5,171$4,268$3,545
18 years$8,369$6,925$5,696$4,660$3,795$3,111
19 years$7,846$6,418$5,215$4,211$3,382$2,735
20 years$7,375$5,964$4,786$3,814$3,021$2,410
21 years$6,950$5,555$4,402$3,461$2,704$2,127
22 years$6,564$5,186$4,057$3,147$2,423$1,880
23 years$6,212$4,850$3,746$2,866$2,175$1,664
24 years$5,890$4,544$3,464$2,614$1,955$1,474
25 years$5,595$4,265$3,209$2,387$1,759$1,307
26 years$5,322$4,008$2,976$2,183$1,585$1,160
27 years$5,070$3,772$2,763$1,998$1,429$1,031
28 years$4,836$3,554$2,569$1,831$1,289$916
29 years$4,619$3,353$2,391$1,679$1,164$815
30 years$4,417$3,167$2,227$1,541$1,052$725
31 years$4,228$2,994$2,076$1,415$951$646
32 years$4,052$2,832$1,937$1,300$860$575
33 years$3,886$2,682$1,808$1,196$779$512
34 years$3,731$2,542$1,690$1,100$705$457
35 years$3,584$2,411$1,580$1,013$638$407
36 years$3,446$2,289$1,478$933$578$363
37 years$3,316$2,174$1,383$859$524$324
38 years$3,193$2,066$1,295$792$475$289
39 years$3,077$1,964$1,214$730$431$258
40 years$2,967$1,869$1,138$674$391$230
41 years$2,862$1,779$1,067$622$355$205
42 years$2,763$1,694$1,001$574$322$183
43 years$2,668$1,614$939$530$292$164
44 years$2,578$1,539$881$489$265$146
45 years$2,493$1,467$827$452$241$131
46 years$2,411$1,400$777$417$219$117
47 years$2,333$1,336$730$385$198$104
48 years$2,258$1,275$686$356$180$93
49 years$2,187$1,218$645$329$164$83
50 years$2,119$1,163$606$304$149$74

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,170,000, adding $3,364 every year, while hoping to spend $28,857 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: 70/24/6 Blend
59$2,170,000$2,170,000$2,170,000$2,170,000
60$2,394,810$2,279,800$2,246,165$2,560,308
61$2,608,377$2,360,807$2,290,708$2,751,120
62$2,842,761$2,444,815$2,335,776$2,955,951
63$3,100,054$2,531,943$2,381,356$3,179,274
64$3,382,562$2,622,311$2,427,434$3,422,896
65$3,692,824$2,716,045$2,473,994$3,688,809
66$4,033,638$2,813,277$2,521,019$3,979,201
67$4,408,086$2,914,144$2,568,490$4,296,485
68$4,819,563$3,018,789$2,616,386$4,643,312
69$5,271,808$3,127,360$2,664,685$5,022,606
70$5,768,943$3,240,011$2,713,362$5,437,581
71$6,315,508$3,356,904$2,762,392$5,891,779
72$6,916,503$3,478,205$2,811,745$6,389,098
73$7,577,439$3,604,090$2,861,392$6,933,831
74$8,304,387$3,734,740$2,911,298$7,530,705
75$9,104,037$3,870,345$2,961,429$8,184,927
76$9,983,757$4,011,101$3,011,745$8,902,227
77$10,951,670$4,157,214$3,062,208$9,688,921
78$12,016,720$4,308,898$3,112,772$10,551,960
79$13,188,768$4,466,375$3,163,392$11,499,002
80$14,478,674$4,629,879$3,214,017$12,538,482
81$15,898,406$4,799,652$3,264,595$13,679,691
82$17,461,154$4,975,944$3,315,069$14,932,861
83$19,181,446$5,159,020$3,365,378$16,309,263
84$21,075,295$5,349,153$3,415,460$17,821,314
85$23,160,342$5,546,629$3,465,245$19,482,692
86$25,456,029$5,751,746$3,514,662$21,308,462
87$27,983,775$5,964,813$3,563,635$23,315,223
88$30,767,185$6,186,154$3,612,082$25,521,260
89$33,832,269$6,416,106$3,659,917$27,946,715
90$37,207,687$6,655,021$3,707,051$30,613,780
91$40,925,019$6,903,266$3,753,385$33,546,904
92$45,019,067$7,161,222$3,798,820$36,773,022
93$49,528,179$7,429,289$3,843,247$40,321,810
94$54,494,611$7,707,881$3,886,553$44,225,961
95$59,964,927$7,997,434$3,928,619$48,521,498
96$65,990,439$8,298,398$3,969,318$53,248,110
97$72,627,690$8,611,245$4,008,516$58,449,522
98$79,938,987$8,936,468$4,046,073$64,173,915
99$87,992,988$9,274,581$4,081,842$70,474,373
100$96,865,356$9,626,117$4,115,666$77,409,385