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%14%
1 years$184,151$182,511$180,911$179,349$177,823$174,877
2 years$91,164$89,466$87,821$86,225$84,678$81,718
3 years$60,172$58,467$56,826$55,245$53,723$50,842
4 years$44,679$42,980$41,355$39,801$38,316$35,536
5 years$35,386$33,696$32,093$30,571$29,127$26,456
6 years$29,193$27,516$25,936$24,448$23,047$20,488
7 years$24,771$23,108$21,553$20,100$18,744$16,297
8 years$21,455$19,808$18,278$16,861$15,550$13,215
9 years$18,878$17,246$15,743$14,362$13,095$10,872
10 years$16,818$15,202$13,725$12,380$11,158$9,044
11 years$15,133$13,533$12,084$10,775$9,596$7,589
12 years$13,730$12,147$10,724$9,451$8,316$6,413
13 years$12,544$10,977$9,581$8,344$7,251$5,450
14 years$11,528$9,978$8,609$7,407$6,357$4,653
15 years$10,649$9,115$7,772$6,605$5,597$3,989
16 years$9,880$8,363$7,047$5,914$4,946$3,430
17 years$9,202$7,702$6,412$5,314$4,386$2,958
18 years$8,600$7,117$5,854$4,789$3,900$2,557
19 years$8,062$6,596$5,359$4,327$3,476$2,215
20 years$7,579$6,129$4,918$3,919$3,105$1,921
21 years$7,142$5,709$4,524$3,557$2,778$1,669
22 years$6,746$5,329$4,169$3,234$2,490$1,452
23 years$6,384$4,984$3,850$2,945$2,236$1,265
24 years$6,053$4,670$3,560$2,686$2,009$1,102
25 years$5,749$4,382$3,297$2,453$1,808$962
26 years$5,469$4,119$3,058$2,243$1,629$839
27 years$5,210$3,876$2,840$2,053$1,468$733
28 years$4,970$3,653$2,640$1,881$1,325$641
29 years$4,747$3,446$2,457$1,725$1,196$560
30 years$4,539$3,254$2,288$1,583$1,081$490
31 years$4,345$3,076$2,133$1,454$977$429
32 years$4,164$2,911$1,990$1,336$884$375
33 years$3,994$2,757$1,858$1,229$800$329
34 years$3,834$2,613$1,736$1,131$724$288
35 years$3,683$2,478$1,623$1,041$656$252
36 years$3,542$2,352$1,519$959$594$221
37 years$3,408$2,234$1,421$883$539$194
38 years$3,282$2,123$1,331$814$488$170
39 years$3,162$2,019$1,247$751$443$149
40 years$3,049$1,921$1,169$692$402$130
41 years$2,941$1,828$1,096$639$365$114
42 years$2,839$1,741$1,028$589$331$100
43 years$2,742$1,659$965$544$300$88
44 years$2,650$1,581$906$502$272$77
45 years$2,561$1,508$850$464$247$68
46 years$2,477$1,439$799$429$225$59
47 years$2,397$1,373$750$396$204$52
48 years$2,321$1,311$705$366$185$46
49 years$2,247$1,252$663$338$168$40
50 years$2,177$1,195$623$313$153$35

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 $2,907 every year, while hoping to spend $26,162 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: 50/38/12 Blend
59$2,230,000$2,230,000$2,230,000$2,230,000
60$2,460,459$2,342,269$2,307,704$2,575,368
61$2,683,589$2,429,204$2,357,175$2,741,374
62$2,928,602$2,519,522$2,407,428$2,918,675
63$3,197,702$2,613,361$2,458,459$3,110,751
64$3,493,317$2,710,865$2,510,267$3,318,996
65$3,818,123$2,812,185$2,562,848$3,544,944
66$4,175,066$2,917,476$2,616,198$3,790,280
67$4,567,394$3,026,903$2,670,312$4,056,859
68$4,998,682$3,140,636$2,725,182$4,346,718
69$5,472,873$3,258,852$2,780,800$4,662,099
70$5,994,307$3,381,737$2,837,158$5,005,466
71$6,567,769$3,509,484$2,894,245$5,379,531
72$7,198,528$3,642,296$2,952,049$5,787,277
73$7,892,391$3,780,381$3,010,556$6,231,986
74$8,655,755$3,923,961$3,069,750$6,717,269
75$9,495,671$4,073,264$3,129,616$7,247,099
76$10,419,905$4,228,529$3,190,133$7,825,848
77$11,437,014$4,390,005$3,251,281$8,458,329
78$12,556,428$4,557,954$3,313,038$9,149,839
79$13,788,537$4,732,647$3,375,378$9,906,208
80$15,144,788$4,914,368$3,438,273$10,733,853
81$16,637,796$5,103,412$3,501,696$11,639,840
82$18,281,461$5,300,088$3,565,612$12,631,945
83$20,091,098$5,504,720$3,629,988$13,718,733
84$22,083,583$5,717,645$3,694,785$14,909,632
85$24,277,512$5,939,213$3,759,964$16,215,024
86$26,693,376$6,169,792$3,825,481$17,646,340
87$29,353,754$6,409,766$3,891,288$19,216,168
88$32,283,527$6,659,534$3,957,337$20,938,372
89$35,510,111$6,919,516$4,023,572$22,828,217
90$39,063,717$7,190,147$4,089,936$24,902,517
91$42,977,636$7,471,883$4,156,368$27,179,790
92$47,288,551$7,765,201$4,222,802$29,680,429
93$52,036,885$8,070,599$4,289,169$32,426,899
94$57,267,185$8,388,595$4,355,393$35,443,941
95$63,028,534$8,719,733$4,421,395$38,758,808
96$69,375,025$9,064,580$4,487,092$42,401,520
97$76,366,261$9,423,728$4,552,394$46,405,145
98$84,067,926$9,797,797$4,617,205$50,806,108
99$92,552,398$10,187,432$4,681,424$55,644,537
100$101,899,436$10,593,311$4,744,946$60,964,634