Can I retire at age 60 with 2,190,000?

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 $2,190,000?

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$180,848$179,237$177,666$176,132$174,634$173,243
2 years$89,529$87,861$86,245$84,679$83,159$81,757
3 years$59,093$57,418$55,807$54,254$52,759$51,390
4 years$43,878$42,209$40,613$39,087$37,628$36,302
5 years$34,751$33,092$31,517$30,023$28,605$27,324
6 years$28,669$27,022$25,471$24,009$22,634$21,402
7 years$24,326$22,693$21,166$19,739$18,407$17,224
8 years$21,071$19,452$17,951$16,559$15,271$14,137
9 years$18,540$16,937$15,461$14,105$12,860$11,775
10 years$16,516$14,929$13,479$12,158$10,957$9,920
11 years$14,862$13,290$11,867$10,581$9,424$8,433
12 years$13,484$11,929$10,531$9,281$8,166$7,222
13 years$12,319$10,780$9,409$8,194$7,121$6,223
14 years$11,321$9,799$8,454$7,274$6,242$5,388
15 years$10,458$8,951$7,633$6,487$5,496$4,685
16 years$9,703$8,213$6,920$5,808$4,858$4,088
17 years$9,037$7,564$6,297$5,219$4,307$3,578
18 years$8,446$6,989$5,749$4,703$3,830$3,139
19 years$7,918$6,477$5,263$4,250$3,414$2,761
20 years$7,443$6,019$4,830$3,849$3,049$2,432
21 years$7,014$5,607$4,442$3,493$2,729$2,147
22 years$6,625$5,234$4,094$3,176$2,446$1,897
23 years$6,270$4,895$3,780$2,892$2,195$1,679
24 years$5,945$4,586$3,496$2,638$1,973$1,488
25 years$5,646$4,304$3,238$2,409$1,776$1,319
26 years$5,371$4,045$3,003$2,203$1,599$1,171
27 years$5,117$3,807$2,789$2,016$1,442$1,040
28 years$4,881$3,587$2,593$1,847$1,301$925
29 years$4,662$3,384$2,413$1,694$1,175$822
30 years$4,458$3,196$2,247$1,555$1,062$732
31 years$4,267$3,021$2,095$1,428$960$652
32 years$4,089$2,859$1,955$1,312$868$580
33 years$3,922$2,707$1,825$1,207$786$517
34 years$3,765$2,566$1,705$1,110$711$461
35 years$3,617$2,434$1,594$1,022$644$411
36 years$3,478$2,310$1,491$941$584$366
37 years$3,347$2,194$1,396$867$529$327
38 years$3,223$2,085$1,307$799$480$292
39 years$3,105$1,983$1,225$737$435$260
40 years$2,994$1,886$1,148$680$395$232
41 years$2,888$1,795$1,076$627$358$207
42 years$2,788$1,710$1,010$579$325$185
43 years$2,693$1,629$948$534$295$165
44 years$2,602$1,553$889$493$268$147
45 years$2,516$1,481$835$456$243$132
46 years$2,433$1,413$784$421$221$118
47 years$2,354$1,348$737$389$200$105
48 years$2,279$1,287$692$359$182$94
49 years$2,207$1,229$651$332$165$84
50 years$2,138$1,174$612$307$150$75

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,190,000, adding $5,798 every year, while hoping to spend $32,217 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$2,190,000$2,190,000$2,190,000$2,190,000
60$2,419,361$2,303,291$2,269,346$2,586,384
61$2,631,857$2,381,873$2,311,090$2,776,105
62$2,864,948$2,463,227$2,353,153$2,979,093
63$3,120,700$2,547,453$2,395,512$3,200,307
64$3,401,391$2,634,657$2,438,140$3,441,527
65$3,709,526$2,724,949$2,481,012$3,704,714
66$4,047,869$2,818,443$2,524,097$3,992,026
67$4,419,463$2,915,257$2,567,365$4,305,837
68$4,827,658$3,015,514$2,610,782$4,648,763
69$5,276,147$3,119,343$2,654,311$5,023,681
70$5,768,999$3,226,875$2,697,915$5,433,761
71$6,310,694$3,338,249$2,741,552$5,882,492
72$6,906,169$3,453,608$2,785,179$6,373,715
73$7,560,864$3,573,101$2,828,748$6,911,661
74$8,280,772$3,696,882$2,872,211$7,500,989
75$9,072,494$3,825,112$2,915,513$8,146,830
76$9,943,305$3,957,959$2,958,599$8,854,833
77$10,901,219$4,095,596$3,001,409$9,631,220
78$11,955,066$4,238,204$3,043,880$10,482,846
79$13,114,577$4,385,970$3,085,944$11,417,258
80$14,390,471$4,539,090$3,127,530$12,442,772
81$15,794,560$4,697,766$3,168,563$13,568,544
82$17,339,858$4,862,209$3,208,963$14,804,663
83$19,040,705$5,032,639$3,248,645$16,162,241
84$20,912,902$5,209,284$3,287,520$17,653,519
85$22,973,860$5,392,381$3,325,493$19,291,981
86$25,242,763$5,582,176$3,362,466$21,092,482
87$27,740,749$5,778,927$3,398,333$23,071,386
88$30,491,111$5,982,901$3,432,983$25,246,722
89$33,519,516$6,194,374$3,466,300$27,638,353
90$36,854,245$6,413,636$3,498,159$30,268,159
91$40,526,461$6,640,988$3,528,431$33,160,248
92$44,570,506$6,876,743$3,556,979$36,341,181
93$49,024,220$7,121,225$3,583,660$39,840,222
94$53,929,299$7,374,774$3,608,321$43,689,611
95$59,331,692$7,637,742$3,630,804$47,924,871
96$65,282,029$7,910,496$3,650,941$52,585,143
97$71,836,103$8,193,417$3,668,555$57,713,548
98$79,055,395$8,486,904$3,683,461$63,357,604
99$87,007,653$8,791,371$3,695,465$69,569,662
100$95,767,533$9,107,247$3,704,362$76,407,409