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

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 $2,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$184,151$182,511$180,911$179,349$177,823$171,446
2 years$91,164$89,466$87,821$86,225$84,678$78,322
3 years$60,172$58,467$56,826$55,245$53,723$47,588
4 years$44,679$42,980$41,355$39,801$38,316$32,448
5 years$35,386$33,696$32,093$30,571$29,127$23,543
6 years$29,193$27,516$25,936$24,448$23,047$17,751
7 years$24,771$23,108$21,553$20,100$18,744$13,733
8 years$21,455$19,808$18,278$16,861$15,550$10,821
9 years$18,878$17,246$15,743$14,362$13,095$8,642
10 years$16,818$15,202$13,725$12,380$11,158$6,973
11 years$15,133$13,533$12,084$10,775$9,596$5,671
12 years$13,730$12,147$10,724$9,451$8,316$4,640
13 years$12,544$10,977$9,581$8,344$7,251$3,816
14 years$11,528$9,978$8,609$7,407$6,357$3,150
15 years$10,649$9,115$7,772$6,605$5,597$2,609
16 years$9,880$8,363$7,047$5,914$4,946$2,167
17 years$9,202$7,702$6,412$5,314$4,386$1,803
18 years$8,600$7,117$5,854$4,789$3,900$1,503
19 years$8,062$6,596$5,359$4,327$3,476$1,255
20 years$7,579$6,129$4,918$3,919$3,105$1,049
21 years$7,142$5,709$4,524$3,557$2,778$878
22 years$6,746$5,329$4,169$3,234$2,490$735
23 years$6,384$4,984$3,850$2,945$2,236$616
24 years$6,053$4,670$3,560$2,686$2,009$517
25 years$5,749$4,382$3,297$2,453$1,808$433
26 years$5,469$4,119$3,058$2,243$1,629$364
27 years$5,210$3,876$2,840$2,053$1,468$305
28 years$4,970$3,653$2,640$1,881$1,325$256
29 years$4,747$3,446$2,457$1,725$1,196$215
30 years$4,539$3,254$2,288$1,583$1,081$181
31 years$4,345$3,076$2,133$1,454$977$152
32 years$4,164$2,911$1,990$1,336$884$128
33 years$3,994$2,757$1,858$1,229$800$107
34 years$3,834$2,613$1,736$1,131$724$90
35 years$3,683$2,478$1,623$1,041$656$76
36 years$3,542$2,352$1,519$959$594$64
37 years$3,408$2,234$1,421$883$539$54
38 years$3,282$2,123$1,331$814$488$45
39 years$3,162$2,019$1,247$751$443$38
40 years$3,049$1,921$1,169$692$402$32
41 years$2,941$1,828$1,096$639$365$27
42 years$2,839$1,741$1,028$589$331$23
43 years$2,742$1,659$965$544$300$19
44 years$2,650$1,581$906$502$272$16
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$8
49 years$2,247$1,252$663$338$168$7
50 years$2,177$1,195$623$313$153$6

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 $3,406 every year, while hoping to spend $59,915 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: 30/46/24 Blend
59$2,230,000$2,230,000$2,230,000$2,230,000
60$2,460,973$2,342,783$2,308,218$2,516,400
61$2,648,243$2,393,831$2,321,795$2,610,426
62$2,852,607$2,445,371$2,333,817$2,705,964
63$3,075,744$2,497,366$2,344,172$2,807,518
64$3,319,505$2,549,771$2,352,736$2,915,648
65$3,585,926$2,602,541$2,359,384$3,030,974
66$3,877,248$2,655,623$2,363,981$3,154,179
67$4,195,940$2,708,962$2,366,387$3,286,017
68$4,544,720$2,762,495$2,366,455$3,427,320
69$4,926,580$2,816,156$2,364,030$3,579,008
70$5,344,816$2,869,873$2,358,950$3,742,095
71$5,803,058$2,923,567$2,351,046$3,917,701
72$6,305,303$2,977,154$2,340,138$4,107,063
73$6,855,951$3,030,543$2,326,041$4,311,545
74$7,459,853$3,083,634$2,308,558$4,532,655
75$8,122,347$3,136,321$2,287,483$4,772,056
76$8,849,315$3,188,490$2,262,603$5,031,584
77$9,647,237$3,240,017$2,233,692$5,313,266
78$10,523,248$3,290,771$2,200,514$5,619,338
79$11,485,211$3,340,610$2,162,822$5,952,271
80$12,541,784$3,389,382$2,120,358$6,314,790
81$13,702,508$3,436,923$2,072,852$6,709,904
82$14,977,891$3,483,060$2,020,020$7,140,933
83$16,379,512$3,527,606$1,961,567$7,611,541
84$17,920,126$3,570,362$1,897,183$8,125,773
85$19,613,784$3,611,115$1,826,544$8,688,090
86$21,475,968$3,649,638$1,749,311$9,303,419
87$23,523,734$3,685,688$1,665,131$9,977,193
88$25,775,875$3,719,007$1,573,633$10,715,408
89$28,253,095$3,749,319$1,474,430$11,524,682
90$30,978,207$3,776,331$1,367,119$12,412,313
91$33,976,343$3,799,730$1,251,277$13,386,357
92$37,275,197$3,819,185$1,126,462$14,455,698
93$40,905,283$3,834,340$992,214$15,630,140
94$44,900,220$3,844,821$848,051$16,920,497
95$49,297,052$3,850,227$693,471$18,338,698
96$54,136,597$3,850,134$527,947$19,897,902
97$59,463,829$3,844,090$350,933$21,612,626
98$65,328,307$3,831,617$161,856$23,498,881
99$71,784,634$3,812,207$0$25,574,324
100$78,892,982$3,785,320$0$27,868,659