Can I retire at age 60 with 2,180,000?

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 $2,180,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$180,022$178,419$176,854$175,327$173,836$172,813
2 years$89,120$87,460$85,852$84,292$82,779$81,747
3 years$58,823$57,156$55,552$54,007$52,519$51,509
4 years$43,678$42,016$40,427$38,909$37,457$36,478
5 years$34,593$32,941$31,373$29,886$28,474$27,529
6 years$28,538$26,899$25,354$23,900$22,530$21,620
7 years$24,215$22,590$21,070$19,649$18,323$17,448
8 years$20,974$19,363$17,869$16,483$15,201$14,361
9 years$18,455$16,859$15,390$14,040$12,801$11,996
10 years$16,441$14,861$13,418$12,103$10,907$10,137
11 years$14,794$13,230$11,813$10,533$9,381$8,645
12 years$13,422$11,874$10,483$9,239$8,129$7,426
13 years$12,263$10,731$9,366$8,157$7,089$6,419
14 years$11,270$9,754$8,416$7,240$6,214$5,576
15 years$10,410$8,910$7,598$6,457$5,471$4,865
16 years$9,658$8,175$6,889$5,782$4,836$4,259
17 years$8,996$7,529$6,269$5,195$4,288$3,741
18 years$8,407$6,957$5,722$4,682$3,812$3,294
19 years$7,882$6,448$5,239$4,230$3,398$2,907
20 years$7,409$5,992$4,808$3,831$3,035$2,571
21 years$6,982$5,581$4,422$3,477$2,716$2,277
22 years$6,594$5,210$4,076$3,162$2,435$2,020
23 years$6,241$4,872$3,763$2,879$2,185$1,795
24 years$5,918$4,565$3,480$2,626$1,964$1,596
25 years$5,620$4,284$3,223$2,398$1,768$1,421
26 years$5,347$4,026$2,990$2,193$1,592$1,266
27 years$5,093$3,789$2,776$2,007$1,435$1,129
28 years$4,859$3,571$2,581$1,839$1,295$1,008
29 years$4,641$3,369$2,402$1,686$1,170$900
30 years$4,438$3,181$2,237$1,548$1,057$804
31 years$4,248$3,007$2,086$1,421$955$719
32 years$4,070$2,846$1,946$1,306$864$643
33 years$3,904$2,695$1,817$1,201$782$575
34 years$3,748$2,554$1,698$1,105$708$515
35 years$3,601$2,422$1,587$1,017$641$461
36 years$3,462$2,299$1,485$937$581$413
37 years$3,332$2,184$1,390$863$527$370
38 years$3,208$2,075$1,301$796$478$331
39 years$3,091$1,973$1,219$734$433$297
40 years$2,980$1,878$1,143$677$393$266
41 years$2,875$1,787$1,072$624$356$238
42 years$2,775$1,702$1,005$576$323$214
43 years$2,681$1,622$943$532$293$192
44 years$2,590$1,546$885$491$266$172
45 years$2,504$1,474$831$454$242$154
46 years$2,422$1,406$781$419$220$138
47 years$2,344$1,342$734$387$199$124
48 years$2,269$1,281$689$358$181$111
49 years$2,197$1,223$648$331$164$100
50 years$2,128$1,169$609$306$149$90

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,180,000, adding $4,050 every year, while hoping to spend $57,576 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: 61/10/29 Blend
59$2,180,000$2,180,000$2,180,000$2,180,000
60$2,406,538$2,290,998$2,257,208$2,534,246
61$2,590,744$2,341,996$2,271,564$2,672,754
62$2,791,810$2,393,564$2,284,471$2,817,341
63$3,011,394$2,445,668$2,295,820$2,973,970
64$3,251,322$2,498,272$2,305,496$3,143,830
65$3,513,605$2,551,335$2,313,379$3,328,234
66$3,800,457$2,604,814$2,319,341$3,528,626
67$4,114,314$2,658,661$2,323,249$3,746,600
68$4,457,860$2,712,821$2,324,964$3,983,912
69$4,834,050$2,767,238$2,324,338$4,242,500
70$5,246,138$2,821,848$2,321,219$4,524,497
71$5,697,709$2,876,583$2,315,444$4,832,259
72$6,192,708$2,931,368$2,306,844$5,168,379
73$6,735,483$2,986,124$2,295,242$5,535,718
74$7,330,821$3,040,763$2,280,452$5,937,430
75$7,983,995$3,095,191$2,262,278$6,376,992
76$8,700,815$3,149,307$2,240,516$6,858,235
77$9,487,677$3,203,002$2,214,953$7,385,387
78$10,351,630$3,256,159$2,185,363$7,963,105
79$11,300,436$3,308,651$2,151,513$8,596,524
80$12,342,649$3,360,343$2,113,157$9,291,305
81$13,487,688$3,411,089$2,070,037$10,053,690
82$14,745,934$3,460,734$2,021,884$10,890,559
83$16,128,819$3,509,109$1,968,417$11,809,497
84$17,648,940$3,556,038$1,909,341$12,818,863
85$19,320,176$3,601,328$1,844,348$13,927,875
86$21,157,816$3,644,775$1,773,116$15,146,694
87$23,178,705$3,686,161$1,695,307$16,486,519
88$25,401,403$3,725,252$1,610,569$17,959,696
89$27,846,357$3,761,801$1,518,535$19,579,836
90$30,536,099$3,795,542$1,418,819$21,361,940
91$33,495,450$3,826,193$1,311,019$23,322,546
92$36,751,763$3,853,453$1,194,714$25,479,882
93$40,335,172$3,877,002$1,069,467$27,854,041
94$44,278,883$3,896,498$934,817$30,467,171
95$48,619,482$3,911,580$790,287$33,343,685
96$53,397,284$3,921,862$635,376$36,510,494
97$58,656,707$3,926,934$469,562$39,997,258
98$64,446,699$3,926,361$292,299$43,836,670
99$70,821,190$3,919,680$103,019$48,064,767
100$77,839,608$3,906,401$0$52,721,267