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

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 $2,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$183,326$181,693$180,099$178,544$177,026$175,616
2 years$90,755$89,065$87,427$85,839$84,298$82,877
3 years$59,902$58,205$56,571$54,998$53,482$52,094
4 years$44,479$42,787$41,169$39,623$38,144$36,799
5 years$35,228$33,545$31,949$30,434$28,996$27,699
6 years$29,062$27,392$25,820$24,338$22,944$21,695
7 years$24,659$23,004$21,456$20,010$18,660$17,460
8 years$21,359$19,719$18,197$16,786$15,480$14,330
9 years$18,794$17,169$15,673$14,298$13,036$11,936
10 years$16,742$15,133$13,664$12,325$11,108$10,056
11 years$15,065$13,472$12,029$10,726$9,553$8,549
12 years$13,669$12,092$10,676$9,408$8,278$7,321
13 years$12,488$10,928$9,538$8,306$7,219$6,308
14 years$11,477$9,933$8,570$7,373$6,328$5,462
15 years$10,601$9,074$7,738$6,576$5,572$4,749
16 years$9,835$8,325$7,015$5,888$4,924$4,144
17 years$9,161$7,667$6,384$5,290$4,366$3,627
18 years$8,562$7,085$5,827$4,768$3,882$3,182
19 years$8,026$6,566$5,335$4,308$3,460$2,798
20 years$7,545$6,102$4,896$3,902$3,091$2,466
21 years$7,110$5,683$4,503$3,541$2,766$2,176
22 years$6,715$5,305$4,150$3,220$2,479$1,923
23 years$6,356$4,962$3,832$2,932$2,226$1,702
24 years$6,026$4,649$3,544$2,674$2,000$1,508
25 years$5,724$4,363$3,283$2,442$1,800$1,338
26 years$5,445$4,100$3,044$2,233$1,621$1,187
27 years$5,187$3,859$2,827$2,044$1,462$1,055
28 years$4,948$3,636$2,628$1,873$1,319$937
29 years$4,726$3,430$2,446$1,717$1,191$834
30 years$4,519$3,240$2,278$1,576$1,076$742
31 years$4,326$3,062$2,124$1,448$973$661
32 years$4,145$2,898$1,982$1,330$880$588
33 years$3,976$2,744$1,850$1,223$797$524
34 years$3,817$2,601$1,729$1,126$721$467
35 years$3,667$2,467$1,616$1,036$653$417
36 years$3,526$2,341$1,512$954$592$371
37 years$3,393$2,224$1,415$879$536$331
38 years$3,267$2,113$1,325$810$486$296
39 years$3,148$2,010$1,242$747$441$264
40 years$3,035$1,912$1,164$689$400$235
41 years$2,928$1,820$1,091$636$363$210
42 years$2,826$1,733$1,024$587$329$188
43 years$2,730$1,652$960$542$299$167
44 years$2,638$1,574$902$500$271$150
45 years$2,550$1,501$847$462$246$134
46 years$2,466$1,432$795$427$224$119
47 years$2,387$1,367$747$394$203$106
48 years$2,310$1,305$702$364$184$95
49 years$2,237$1,246$660$337$167$85
50 years$2,167$1,190$620$311$152$76

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 $6,784 every year, while hoping to spend $24,310 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: 33/46/21 Blend
59$2,220,000$2,220,000$2,220,000$2,220,000
60$2,453,438$2,335,778$2,301,368$2,518,358
61$2,677,823$2,424,365$2,352,598$2,655,902
62$2,924,280$2,516,479$2,404,729$2,801,343
63$3,195,036$2,612,265$2,457,767$2,957,591
64$3,492,542$2,711,878$2,511,714$3,125,613
65$3,819,499$2,815,479$2,566,575$3,306,468
66$4,178,884$2,923,233$2,622,351$3,501,321
67$4,573,974$3,035,315$2,679,044$3,711,449
68$5,008,382$3,151,908$2,736,655$3,938,252
69$5,486,088$3,273,202$2,795,183$4,183,270
70$6,011,475$3,399,396$2,854,628$4,448,194
71$6,589,374$3,530,695$2,914,987$4,734,878
72$7,225,109$3,667,317$2,976,257$5,045,363
73$7,924,542$3,809,488$3,038,434$5,381,889
74$8,694,135$3,957,443$3,101,512$5,746,918
75$9,541,008$4,111,428$3,165,483$6,143,157
76$10,473,003$4,271,701$3,230,339$6,573,580
77$11,498,765$4,438,530$3,296,071$7,041,458
78$12,627,816$4,612,195$3,362,667$7,550,388
79$13,870,650$4,792,989$3,430,113$8,104,323
80$15,238,829$4,981,219$3,498,394$8,707,612
81$16,745,094$5,177,202$3,567,495$9,365,041
82$18,403,483$5,381,274$3,637,395$10,081,870
83$20,229,464$5,593,783$3,708,074$10,863,889
84$22,240,084$5,815,093$3,779,509$11,717,467
85$24,454,124$6,045,584$3,851,674$12,649,614
86$26,892,281$6,285,654$3,924,541$13,668,041
87$29,577,361$6,535,719$3,998,081$14,781,236
88$32,534,495$6,796,211$4,072,259$15,998,540
89$35,791,373$7,067,586$4,147,040$17,330,234
90$39,378,512$7,350,316$4,222,384$18,787,637
91$43,329,535$7,644,897$4,298,250$20,383,205
92$47,681,498$7,951,847$4,374,591$22,130,655
93$52,475,229$8,271,706$4,451,358$24,045,084
94$57,755,723$8,605,040$4,528,499$26,143,117
95$63,572,560$8,952,440$4,605,957$28,443,057
96$69,980,376$9,314,524$4,683,671$30,965,058
97$77,039,376$9,691,938$4,761,576$33,731,312
98$84,815,906$10,085,357$4,839,603$36,766,257
99$93,383,076$10,495,486$4,917,676$40,096,804
100$102,821,448$10,923,064$4,995,718$43,752,591