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%11.5%
1 years$183,326$181,693$180,099$178,544$177,026$175,910
2 years$90,755$89,065$87,427$85,839$84,298$83,173
3 years$59,902$58,205$56,571$54,998$53,482$52,382
4 years$44,479$42,787$41,169$39,623$38,144$37,077
5 years$35,228$33,545$31,949$30,434$28,996$27,967
6 years$29,062$27,392$25,820$24,338$22,944$21,952
7 years$24,659$23,004$21,456$20,010$18,660$17,706
8 years$21,359$19,719$18,197$16,786$15,480$14,565
9 years$18,794$17,169$15,673$14,298$13,036$12,160
10 years$16,742$15,133$13,664$12,325$11,108$10,269
11 years$15,065$13,472$12,029$10,726$9,553$8,752
12 years$13,669$12,092$10,676$9,408$8,278$7,514
13 years$12,488$10,928$9,538$8,306$7,219$6,490
14 years$11,477$9,933$8,570$7,373$6,328$5,634
15 years$10,601$9,074$7,738$6,576$5,572$4,912
16 years$9,835$8,325$7,015$5,888$4,924$4,298
17 years$9,161$7,667$6,384$5,290$4,366$3,772
18 years$8,562$7,085$5,827$4,768$3,882$3,319
19 years$8,026$6,566$5,335$4,308$3,460$2,927
20 years$7,545$6,102$4,896$3,902$3,091$2,587
21 years$7,110$5,683$4,503$3,541$2,766$2,290
22 years$6,715$5,305$4,150$3,220$2,479$2,030
23 years$6,356$4,962$3,832$2,932$2,226$1,802
24 years$6,026$4,649$3,544$2,674$2,000$1,601
25 years$5,724$4,363$3,283$2,442$1,800$1,425
26 years$5,445$4,100$3,044$2,233$1,621$1,268
27 years$5,187$3,859$2,827$2,044$1,462$1,130
28 years$4,948$3,636$2,628$1,873$1,319$1,008
29 years$4,726$3,430$2,446$1,717$1,191$899
30 years$4,519$3,240$2,278$1,576$1,076$803
31 years$4,326$3,062$2,124$1,448$973$717
32 years$4,145$2,898$1,982$1,330$880$641
33 years$3,976$2,744$1,850$1,223$797$573
34 years$3,817$2,601$1,729$1,126$721$512
35 years$3,667$2,467$1,616$1,036$653$458
36 years$3,526$2,341$1,512$954$592$410
37 years$3,393$2,224$1,415$879$536$367
38 years$3,267$2,113$1,325$810$486$329
39 years$3,148$2,010$1,242$747$441$294
40 years$3,035$1,912$1,164$689$400$263
41 years$2,928$1,820$1,091$636$363$236
42 years$2,826$1,733$1,024$587$329$211
43 years$2,730$1,652$960$542$299$189
44 years$2,638$1,574$902$500$271$170
45 years$2,550$1,501$847$462$246$152
46 years$2,466$1,432$795$427$224$136
47 years$2,387$1,367$747$394$203$122
48 years$2,310$1,305$702$364$184$109
49 years$2,237$1,246$660$337$167$98
50 years$2,167$1,190$620$311$152$88

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 $5,433 every year, while hoping to spend $38,322 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: 59/30/11 Blend
59$2,220,000$2,220,000$2,220,000$2,220,000
60$2,452,044$2,334,384$2,299,974$2,589,933
61$2,661,378$2,407,995$2,336,249$2,756,971
62$2,890,780$2,483,928$2,372,455$2,934,236
63$3,142,256$2,562,257$2,408,548$3,126,599
64$3,418,016$2,643,057$2,444,485$3,335,513
65$3,720,494$2,726,407$2,480,215$3,562,581
66$4,052,371$2,812,387$2,515,688$3,809,565
67$4,416,599$2,901,081$2,550,850$4,078,406
68$4,816,431$2,992,573$2,585,643$4,371,239
69$5,255,451$3,086,952$2,620,006$4,690,414
70$5,737,604$3,184,310$2,653,873$5,038,518
71$6,267,239$3,284,741$2,687,177$5,418,402
72$6,849,146$3,388,341$2,719,846$5,833,200
73$7,488,600$3,495,212$2,751,802$6,286,368
74$8,191,415$3,605,455$2,782,966$6,781,707
75$8,963,995$3,719,178$2,813,251$7,323,405
76$9,813,396$3,836,491$2,842,568$7,916,076
77$10,747,390$3,957,507$2,870,821$8,564,797
78$11,774,542$4,082,343$2,897,912$9,275,162
79$12,904,288$4,211,120$2,923,734$10,053,332
80$14,147,022$4,343,962$2,948,177$10,906,094
81$15,514,201$4,480,998$2,971,123$11,840,922
82$17,018,443$4,622,361$2,992,450$12,866,049
83$18,673,655$4,768,187$3,012,027$13,990,546
84$20,495,157$4,918,618$3,029,719$15,224,401
85$22,499,831$5,073,798$3,045,383$16,578,622
86$24,706,279$5,233,879$3,058,868$18,065,333
87$27,134,995$5,399,015$3,070,016$19,697,890
88$29,808,563$5,569,365$3,078,660$21,491,009
89$32,751,868$5,745,096$3,084,627$23,460,901
90$35,992,329$5,926,376$3,087,733$25,625,427
91$39,560,161$6,113,382$3,087,785$28,004,264
92$43,488,654$6,306,295$3,084,583$30,619,093
93$47,814,494$6,505,301$3,077,914$33,493,801
94$52,578,105$6,710,593$3,067,557$36,654,706
95$57,824,030$6,922,371$3,053,278$40,130,805
96$63,601,353$7,140,838$3,034,835$43,954,050
97$69,964,159$7,366,208$3,011,970$48,159,642
98$76,972,049$7,598,698$2,984,417$52,786,373
99$84,690,698$7,838,534$2,951,894$57,876,981
100$93,192,475$8,085,948$2,914,109$63,478,559