Can I retire at age 60 with 2,230,000?

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 $2,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$184,151$182,511$180,911$179,349$177,823$171,310
2 years$91,164$89,466$87,821$86,225$84,678$78,188
3 years$60,172$58,467$56,826$55,245$53,723$47,461
4 years$44,679$42,980$41,355$39,801$38,316$32,329
5 years$35,386$33,696$32,093$30,571$29,127$23,432
6 years$29,193$27,516$25,936$24,448$23,047$17,647
7 years$24,771$23,108$21,553$20,100$18,744$13,638
8 years$21,455$19,808$18,278$16,861$15,550$10,733
9 years$18,878$17,246$15,743$14,362$13,095$8,562
10 years$16,818$15,202$13,725$12,380$11,158$6,899
11 years$15,133$13,533$12,084$10,775$9,596$5,603
12 years$13,730$12,147$10,724$9,451$8,316$4,579
13 years$12,544$10,977$9,581$8,344$7,251$3,760
14 years$11,528$9,978$8,609$7,407$6,357$3,100
15 years$10,649$9,115$7,772$6,605$5,597$2,564
16 years$9,880$8,363$7,047$5,914$4,946$2,126
17 years$9,202$7,702$6,412$5,314$4,386$1,767
18 years$8,600$7,117$5,854$4,789$3,900$1,471
19 years$8,062$6,596$5,359$4,327$3,476$1,226
20 years$7,579$6,129$4,918$3,919$3,105$1,023
21 years$7,142$5,709$4,524$3,557$2,778$855
22 years$6,746$5,329$4,169$3,234$2,490$715
23 years$6,384$4,984$3,850$2,945$2,236$598
24 years$6,053$4,670$3,560$2,686$2,009$501
25 years$5,749$4,382$3,297$2,453$1,808$419
26 years$5,469$4,119$3,058$2,243$1,629$351
27 years$5,210$3,876$2,840$2,053$1,468$295
28 years$4,970$3,653$2,640$1,881$1,325$247
29 years$4,747$3,446$2,457$1,725$1,196$207
30 years$4,539$3,254$2,288$1,583$1,081$174
31 years$4,345$3,076$2,133$1,454$977$146
32 years$4,164$2,911$1,990$1,336$884$122
33 years$3,994$2,757$1,858$1,229$800$103
34 years$3,834$2,613$1,736$1,131$724$86
35 years$3,683$2,478$1,623$1,041$656$72
36 years$3,542$2,352$1,519$959$594$61
37 years$3,408$2,234$1,421$883$539$51
38 years$3,282$2,123$1,331$814$488$43
39 years$3,162$2,019$1,247$751$443$36
40 years$3,049$1,921$1,169$692$402$30
41 years$2,941$1,828$1,096$639$365$25
42 years$2,839$1,741$1,028$589$331$21
43 years$2,742$1,659$965$544$300$18
44 years$2,650$1,581$906$502$272$15
45 years$2,561$1,508$850$464$247$13
46 years$2,477$1,439$799$429$225$11
47 years$2,397$1,373$750$396$204$9
48 years$2,321$1,311$705$366$185$7
49 years$2,247$1,252$663$338$168$6
50 years$2,177$1,195$623$313$153$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,230,000, adding $5,255 every year, while hoping to spend $30,314 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: 26/47/27 Blend
59$2,230,000$2,230,000$2,230,000$2,230,000
60$2,462,881$2,344,691$2,310,126$2,505,979
61$2,681,840$2,427,327$2,355,261$2,624,259
62$2,922,118$2,512,996$2,400,892$2,748,134
63$3,185,857$2,601,815$2,447,004$2,880,419
64$3,475,415$2,693,905$2,493,580$3,021,847
65$3,793,393$2,789,392$2,540,601$3,173,219
66$4,142,655$2,888,408$2,588,047$3,335,414
67$4,526,356$2,991,090$2,635,896$3,509,398
68$4,947,970$3,097,579$2,684,124$3,696,231
69$5,411,326$3,208,023$2,732,706$3,897,075
70$5,920,642$3,322,578$2,781,613$4,113,206
71$6,480,566$3,441,402$2,830,815$4,346,028
72$7,096,216$3,564,663$2,880,280$4,597,080
73$7,773,234$3,692,535$2,929,973$4,868,054
74$8,517,834$3,825,199$2,979,856$5,160,810
75$9,336,862$3,962,843$3,029,890$5,477,391
76$10,237,862$4,105,663$3,080,032$5,820,044
77$11,229,147$4,253,863$3,130,236$6,191,238
78$12,319,874$4,407,656$3,180,453$6,593,689
79$13,520,133$4,567,264$3,230,631$7,030,381
80$14,841,044$4,732,917$3,280,714$7,504,600
81$16,294,856$4,904,856$3,330,643$8,019,957
82$17,895,068$5,083,330$3,380,356$8,580,425
83$19,656,552$5,268,601$3,429,786$9,190,377
84$21,595,698$5,460,940$3,478,861$9,854,622
85$23,730,563$5,660,630$3,527,507$10,578,453
86$26,081,046$5,867,966$3,575,644$11,367,694
87$28,669,072$6,083,256$3,623,188$12,228,756
88$31,518,802$6,306,819$3,670,048$13,168,693
89$34,656,856$6,538,990$3,716,131$14,195,272
90$38,112,570$6,780,115$3,761,337$15,317,042
91$41,918,270$7,030,559$3,805,560$16,543,414
92$46,109,576$7,290,698$3,848,688$17,884,748
93$50,725,737$7,560,927$3,890,603$19,352,454
94$55,810,005$7,841,655$3,931,182$20,959,090
95$61,410,042$8,133,313$3,970,292$22,718,487
96$67,578,366$8,436,345$4,007,797$24,645,876
97$74,372,851$8,751,217$4,043,549$26,758,026
98$81,857,270$9,078,415$4,077,397$29,073,407
99$90,101,899$9,418,445$4,109,177$31,612,359
100$99,184,179$9,771,835$4,138,720$34,397,283