Can I retire at age 60 with 1,940,000?

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 $1,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$160,203$158,776$157,384$156,025$154,698$152,010
2 years$79,309$77,832$76,400$75,012$73,666$70,967
3 years$52,347$50,864$49,436$48,061$46,737$44,110
4 years$38,869$37,390$35,977$34,625$33,333$30,799
5 years$30,784$29,314$27,919$26,596$25,339$22,906
6 years$25,396$23,937$22,563$21,269$20,050$17,719
7 years$21,549$20,103$18,750$17,486$16,306$14,079
8 years$18,665$17,232$15,901$14,669$13,527$11,404
9 years$16,423$15,003$13,696$12,494$11,392$9,370
10 years$14,631$13,225$11,940$10,770$9,707$7,785
11 years$13,165$11,773$10,512$9,373$8,348$6,524
12 years$11,945$10,567$9,329$8,222$7,234$5,506
13 years$10,913$9,549$8,335$7,259$6,308$4,673
14 years$10,029$8,680$7,489$6,443$5,530$3,985
15 years$9,264$7,929$6,762$5,746$4,869$3,411
16 years$8,595$7,275$6,130$5,145$4,303$2,929
17 years$8,005$6,700$5,578$4,623$3,816$2,523
18 years$7,482$6,191$5,092$4,166$3,393$2,177
19 years$7,014$5,738$4,662$3,765$3,024$1,883
20 years$6,593$5,332$4,278$3,409$2,701$1,631
21 years$6,213$4,967$3,935$3,094$2,417$1,415
22 years$5,868$4,636$3,627$2,813$2,167$1,229
23 years$5,554$4,336$3,349$2,562$1,945$1,069
24 years$5,266$4,063$3,097$2,337$1,748$930
25 years$5,002$3,813$2,869$2,134$1,573$810
26 years$4,758$3,583$2,660$1,951$1,417$706
27 years$4,533$3,372$2,470$1,786$1,277$616
28 years$4,324$3,178$2,297$1,637$1,153$537
29 years$4,130$2,998$2,137$1,501$1,041$469
30 years$3,949$2,831$1,991$1,377$940$410
31 years$3,780$2,676$1,856$1,265$850$358
32 years$3,622$2,532$1,732$1,163$769$313
33 years$3,474$2,398$1,617$1,069$696$273
34 years$3,335$2,273$1,511$984$630$239
35 years$3,204$2,156$1,412$905$571$209
36 years$3,081$2,046$1,321$834$517$183
37 years$2,965$1,943$1,237$768$469$160
38 years$2,855$1,847$1,158$708$425$140
39 years$2,751$1,756$1,085$653$385$122
40 years$2,652$1,671$1,017$602$350$107
41 years$2,559$1,591$954$556$317$94
42 years$2,470$1,515$894$513$288$82
43 years$2,385$1,443$839$473$261$72
44 years$2,305$1,376$788$437$237$63
45 years$2,228$1,312$740$404$215$55
46 years$2,155$1,251$695$373$195$48
47 years$2,086$1,194$653$345$177$42
48 years$2,019$1,140$613$318$161$37
49 years$1,955$1,089$577$294$146$32
50 years$1,894$1,040$542$272$133$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,940,000, adding $4,288 every year, while hoping to spend $22,015 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: 67/10/23 Blend
59$1,940,000$1,940,000$1,940,000$1,940,000
60$2,142,303$2,039,483$2,009,413$2,272,979
61$2,337,394$2,115,994$2,053,305$2,437,736
62$2,551,647$2,195,516$2,097,929$2,614,936
63$2,786,992$2,278,174$2,143,287$2,808,215
64$3,045,557$2,364,096$2,189,379$3,019,158
65$3,329,687$2,453,419$2,236,205$3,249,508
66$3,641,962$2,546,284$2,283,765$3,501,188
67$3,985,227$2,642,837$2,332,057$3,776,312
68$4,362,617$2,743,233$2,381,078$4,077,210
69$4,777,584$2,847,632$2,430,824$4,406,447
70$5,233,932$2,956,200$2,481,291$4,766,849
71$5,735,852$3,069,113$2,532,473$5,161,526
72$6,287,962$3,186,552$2,584,364$5,593,906
73$6,895,349$3,308,708$2,636,955$6,067,764
74$7,563,619$3,435,779$2,690,237$6,587,256
75$8,298,948$3,567,972$2,744,200$7,156,963
76$9,108,142$3,705,504$2,798,832$7,781,929
77$9,998,699$3,848,600$2,854,119$8,467,710
78$10,978,880$3,997,496$2,910,046$9,220,429
79$12,057,790$4,152,437$2,966,597$10,046,828
80$13,245,460$4,313,681$3,023,753$10,954,337
81$14,552,941$4,481,496$3,081,493$11,951,140
82$15,992,414$4,656,162$3,139,796$13,046,252
83$17,577,298$4,837,972$3,198,636$14,249,608
84$19,322,380$5,027,230$3,257,988$15,572,152
85$21,243,954$5,224,256$3,317,823$17,025,940
86$23,359,976$5,429,383$3,378,109$18,624,257
87$25,690,230$5,642,960$3,438,812$20,381,740
88$28,256,518$5,865,349$3,499,896$22,314,515
89$31,082,862$6,096,930$3,561,322$24,440,350
90$34,195,734$6,338,100$3,623,047$26,778,822
91$37,624,306$6,589,274$3,685,026$29,351,502
92$41,400,722$6,850,885$3,747,211$32,182,157
93$45,560,402$7,123,385$3,809,549$35,296,974
94$50,142,379$7,407,247$3,871,984$38,724,811
95$55,189,664$7,702,964$3,934,458$42,497,461
96$60,749,655$8,011,054$3,996,907$46,649,958
97$66,874,579$8,332,056$4,059,264$51,220,908
98$73,621,993$8,666,533$4,121,455$56,252,845
99$81,055,318$9,015,075$4,183,406$61,792,643
100$89,244,445$9,378,298$4,245,034$67,891,948