Can I retire at age 60 with 2,220,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
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 $2,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$183,326$181,693$180,099$178,544$177,026$172,466
2 years$90,755$89,065$87,427$85,839$84,298$79,735
3 years$59,902$58,205$56,571$54,998$53,482$49,058
4 years$44,479$42,787$41,169$39,623$38,144$33,893
5 years$35,228$33,545$31,949$30,434$28,996$24,930
6 years$29,062$27,392$25,820$24,338$22,944$19,066
7 years$24,659$23,004$21,456$20,010$18,660$14,971
8 years$21,359$19,719$18,197$16,786$15,480$11,979
9 years$18,794$17,169$15,673$14,298$13,036$9,719
10 years$16,742$15,133$13,664$12,325$11,108$7,971
11 years$15,065$13,472$12,029$10,726$9,553$6,592
12 years$13,669$12,092$10,676$9,408$8,278$5,488
13 years$12,488$10,928$9,538$8,306$7,219$4,593
14 years$11,477$9,933$8,570$7,373$6,328$3,861
15 years$10,601$9,074$7,738$6,576$5,572$3,257
16 years$9,835$8,325$7,015$5,888$4,924$2,756
17 years$9,161$7,667$6,384$5,290$4,366$2,337
18 years$8,562$7,085$5,827$4,768$3,882$1,987
19 years$8,026$6,566$5,335$4,308$3,460$1,691
20 years$7,545$6,102$4,896$3,902$3,091$1,442
21 years$7,110$5,683$4,503$3,541$2,766$1,231
22 years$6,715$5,305$4,150$3,220$2,479$1,052
23 years$6,356$4,962$3,832$2,932$2,226$900
24 years$6,026$4,649$3,544$2,674$2,000$770
25 years$5,724$4,363$3,283$2,442$1,800$660
26 years$5,445$4,100$3,044$2,233$1,621$566
27 years$5,187$3,859$2,827$2,044$1,462$485
28 years$4,948$3,636$2,628$1,873$1,319$416
29 years$4,726$3,430$2,446$1,717$1,191$357
30 years$4,519$3,240$2,278$1,576$1,076$306
31 years$4,326$3,062$2,124$1,448$973$263
32 years$4,145$2,898$1,982$1,330$880$226
33 years$3,976$2,744$1,850$1,223$797$194
34 years$3,817$2,601$1,729$1,126$721$167
35 years$3,667$2,467$1,616$1,036$653$143
36 years$3,526$2,341$1,512$954$592$123
37 years$3,393$2,224$1,415$879$536$106
38 years$3,267$2,113$1,325$810$486$91
39 years$3,148$2,010$1,242$747$441$78
40 years$3,035$1,912$1,164$689$400$67
41 years$2,928$1,820$1,091$636$363$58
42 years$2,826$1,733$1,024$587$329$50
43 years$2,730$1,652$960$542$299$43
44 years$2,638$1,574$902$500$271$37
45 years$2,550$1,501$847$462$246$31
46 years$2,466$1,432$795$427$224$27
47 years$2,387$1,367$747$394$203$23
48 years$2,310$1,305$702$364$184$20
49 years$2,237$1,246$660$337$167$17
50 years$2,167$1,190$620$311$152$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,220,000, adding $5,588 every year, while hoping to spend $59,476 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: 43/36/21 Blend
59$2,220,000$2,220,000$2,220,000$2,220,000
60$2,452,204$2,334,544$2,300,134$2,542,433
61$2,639,047$2,385,655$2,313,907$2,657,993
62$2,842,954$2,437,276$2,326,147$2,776,904
63$3,065,604$2,489,371$2,336,741$2,904,523
64$3,308,843$2,541,898$2,345,570$3,041,681
65$3,574,705$2,594,811$2,352,506$3,189,300
66$3,865,428$2,648,060$2,357,418$3,348,392
67$4,183,477$2,701,590$2,360,167$3,520,074
68$4,531,566$2,755,342$2,360,607$3,705,578
69$4,912,683$2,809,251$2,358,585$3,906,263
70$5,330,119$2,863,247$2,353,940$4,123,628
71$5,787,499$2,917,254$2,346,505$4,359,324
72$6,288,813$2,971,189$2,336,102$4,615,173
73$6,838,458$3,024,963$2,322,547$4,893,185
74$7,441,274$3,078,479$2,305,645$5,195,576
75$8,102,594$3,131,635$2,285,195$5,524,788
76$8,828,292$3,184,318$2,260,982$5,883,518
77$9,624,836$3,236,408$2,232,783$6,274,738
78$10,499,354$3,287,777$2,200,366$6,701,724
79$11,459,695$3,338,285$2,163,486$7,168,093
80$12,514,508$3,387,785$2,121,886$7,677,830
81$13,673,318$3,436,117$2,075,300$8,235,331
82$14,946,620$3,483,110$2,023,446$8,845,444
83$16,345,976$3,528,583$1,966,032$9,513,516
84$17,884,122$3,572,340$1,902,750$10,245,442
85$19,575,091$3,614,173$1,833,281$11,047,724
86$21,434,342$3,653,860$1,757,288$11,927,531
87$23,478,909$3,691,163$1,674,421$12,892,768
88$25,727,557$3,725,829$1,584,313$13,952,154
89$28,200,962$3,757,589$1,486,582$15,115,299
90$30,921,903$3,786,154$1,380,826$16,392,805
91$33,915,481$3,811,219$1,266,627$17,796,358
92$37,209,349$3,832,458$1,143,548$19,338,845
93$40,833,978$3,849,524$1,011,133$21,034,475
94$44,822,942$3,862,048$868,903$22,898,915
95$49,213,233$3,869,639$716,362$24,949,438
96$54,045,611$3,871,880$552,989$27,205,090
97$59,364,990$3,868,329$378,241$29,686,867
98$65,220,857$3,858,515$191,550$32,417,921
99$71,667,743$3,841,941$0$35,423,775
100$78,765,733$3,818,077$0$38,734,289