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%13.2%
1 years$184,151$182,511$180,911$179,349$177,823$175,456
2 years$91,164$89,466$87,821$86,225$84,678$82,296
3 years$60,172$58,467$56,826$55,245$53,723$51,402
4 years$44,679$42,980$41,355$39,801$38,316$36,072
5 years$35,386$33,696$32,093$30,571$29,127$26,968
6 years$29,193$27,516$25,936$24,448$23,047$20,975
7 years$24,771$23,108$21,553$20,100$18,744$16,760
8 years$21,455$19,808$18,278$16,861$15,550$13,653
9 years$18,878$17,246$15,743$14,362$13,095$11,285
10 years$16,818$15,202$13,725$12,380$11,158$9,433
11 years$15,133$13,533$12,084$10,775$9,596$7,956
12 years$13,730$12,147$10,724$9,451$8,316$6,757
13 years$12,544$10,977$9,581$8,344$7,251$5,773
14 years$11,528$9,978$8,609$7,407$6,357$4,956
15 years$10,649$9,115$7,772$6,605$5,597$4,271
16 years$9,880$8,363$7,047$5,914$4,946$3,694
17 years$9,202$7,702$6,412$5,314$4,386$3,203
18 years$8,600$7,117$5,854$4,789$3,900$2,785
19 years$8,062$6,596$5,359$4,327$3,476$2,426
20 years$7,579$6,129$4,918$3,919$3,105$2,117
21 years$7,142$5,709$4,524$3,557$2,778$1,851
22 years$6,746$5,329$4,169$3,234$2,490$1,620
23 years$6,384$4,984$3,850$2,945$2,236$1,419
24 years$6,053$4,670$3,560$2,686$2,009$1,245
25 years$5,749$4,382$3,297$2,453$1,808$1,093
26 years$5,469$4,119$3,058$2,243$1,629$960
27 years$5,210$3,876$2,840$2,053$1,468$844
28 years$4,970$3,653$2,640$1,881$1,325$743
29 years$4,747$3,446$2,457$1,725$1,196$654
30 years$4,539$3,254$2,288$1,583$1,081$575
31 years$4,345$3,076$2,133$1,454$977$507
32 years$4,164$2,911$1,990$1,336$884$447
33 years$3,994$2,757$1,858$1,229$800$394
34 years$3,834$2,613$1,736$1,131$724$347
35 years$3,683$2,478$1,623$1,041$656$306
36 years$3,542$2,352$1,519$959$594$270
37 years$3,408$2,234$1,421$883$539$238
38 years$3,282$2,123$1,331$814$488$210
39 years$3,162$2,019$1,247$751$443$185
40 years$3,049$1,921$1,169$692$402$164
41 years$2,941$1,828$1,096$639$365$144
42 years$2,839$1,741$1,028$589$331$128
43 years$2,742$1,659$965$544$300$113
44 years$2,650$1,581$906$502$272$99
45 years$2,561$1,508$850$464$247$88
46 years$2,477$1,439$799$429$225$77
47 years$2,397$1,373$750$396$204$68
48 years$2,321$1,311$705$366$185$60
49 years$2,247$1,252$663$338$168$53
50 years$2,177$1,195$623$313$153$47

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 $2,605 every year, while hoping to spend $23,232 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: 53/41/6 Blend
59$2,230,000$2,230,000$2,230,000$2,230,000
60$2,460,147$2,341,957$2,307,392$2,587,003
61$2,686,363$2,431,994$2,359,971$2,763,198
62$2,934,875$2,525,665$2,413,533$2,952,011
63$3,207,932$2,623,122$2,468,086$3,156,852
64$3,508,012$2,724,526$2,523,638$3,379,238
65$3,837,846$2,830,044$2,580,196$3,620,835
66$4,200,441$2,939,851$2,637,768$3,883,477
67$4,599,112$3,054,130$2,696,358$4,169,177
68$5,037,509$3,173,070$2,755,974$4,480,150
69$5,519,656$3,296,871$2,816,620$4,818,833
70$6,049,983$3,425,740$2,878,299$5,187,902
71$6,633,374$3,559,895$2,941,016$5,590,303
72$7,275,210$3,699,561$3,004,771$6,029,277
73$7,981,418$3,844,976$3,069,567$6,508,388
74$8,758,529$3,996,386$3,135,404$7,031,556
75$9,613,740$4,154,050$3,202,281$7,603,096
76$10,554,981$4,318,238$3,270,197$8,227,756
77$11,590,988$4,489,231$3,339,148$8,910,759
78$12,731,389$4,667,324$3,409,130$9,657,854
79$13,986,792$4,852,824$3,480,137$10,475,370
80$15,368,886$5,046,052$3,552,162$11,370,271
81$16,890,549$5,247,346$3,625,196$12,350,224
82$18,565,974$5,457,055$3,699,229$13,423,667
83$20,410,799$5,675,546$3,774,249$14,599,893
84$22,442,255$5,903,203$3,850,242$15,889,128
85$24,679,332$6,140,426$3,927,191$17,302,634
86$27,142,950$6,387,634$4,005,079$18,852,812
87$29,856,168$6,645,264$4,083,885$20,553,313
88$32,844,389$6,913,775$4,163,588$22,419,173
89$36,135,610$7,193,643$4,244,161$24,466,945
90$39,760,680$7,485,369$4,325,579$26,714,862
91$43,753,594$7,789,476$4,407,809$29,183,001
92$48,151,810$8,106,510$4,490,821$31,893,475
93$52,996,607$8,437,042$4,574,576$34,870,634
94$58,333,474$8,781,670$4,659,037$38,141,303
95$64,212,534$9,141,017$4,744,160$41,735,022
96$70,689,023$9,515,738$4,829,900$45,684,331
97$77,823,808$9,906,514$4,916,207$50,025,070
98$85,683,964$10,314,060$5,003,027$54,796,719
99$94,343,402$10,739,123$5,090,303$60,042,764
100$103,883,573$11,182,484$5,177,971$65,811,111