Can I retire at age 60 with 1,960,000?

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 $1,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$161,855$160,413$159,007$157,634$156,293$151,594
2 years$80,126$78,634$77,188$75,785$74,425$69,730
3 years$52,887$51,388$49,946$48,556$47,218$42,675
4 years$39,270$37,776$36,348$34,982$33,677$29,320
5 years$31,102$29,617$28,207$26,870$25,600$21,442
6 years$25,658$24,184$22,796$21,488$20,257$16,300
7 years$21,771$20,310$18,943$17,666$16,474$12,719
8 years$18,858$17,409$16,065$14,820$13,667$10,111
9 years$16,593$15,158$13,837$12,623$11,510$8,150
10 years$14,782$13,361$12,064$10,881$9,807$6,638
11 years$13,301$11,894$10,621$9,470$8,434$5,451
12 years$12,068$10,676$9,425$8,307$7,309$4,505
13 years$11,025$9,648$8,421$7,333$6,373$3,743
14 years$10,132$8,770$7,566$6,510$5,587$3,122
15 years$9,359$8,011$6,831$5,806$4,919$2,614
16 years$8,684$7,350$6,194$5,198$4,348$2,194
17 years$8,088$6,769$5,636$4,671$3,855$1,846
18 years$7,559$6,255$5,145$4,209$3,428$1,556
19 years$7,086$5,797$4,710$3,803$3,055$1,314
20 years$6,661$5,387$4,323$3,445$2,729$1,111
21 years$6,278$5,018$3,976$3,126$2,442$941
22 years$5,929$4,684$3,664$2,842$2,189$797
23 years$5,611$4,381$3,383$2,589$1,965$676
24 years$5,320$4,104$3,129$2,361$1,766$574
25 years$5,053$3,852$2,898$2,156$1,589$487
26 years$4,807$3,620$2,688$1,972$1,431$414
27 years$4,579$3,407$2,496$1,805$1,291$352
28 years$4,368$3,210$2,320$1,653$1,165$299
29 years$4,172$3,029$2,159$1,516$1,052$254
30 years$3,990$2,860$2,011$1,392$950$216
31 years$3,819$2,704$1,875$1,278$859$184
32 years$3,660$2,558$1,749$1,174$777$156
33 years$3,510$2,423$1,633$1,080$703$133
34 years$3,370$2,296$1,526$994$637$113
35 years$3,237$2,178$1,427$915$577$96
36 years$3,113$2,067$1,335$843$522$82
37 years$2,995$1,963$1,249$776$474$70
38 years$2,884$1,866$1,170$715$429$60
39 years$2,779$1,774$1,096$660$389$51
40 years$2,680$1,688$1,027$608$353$43
41 years$2,585$1,607$963$561$320$37
42 years$2,495$1,530$904$518$291$31
43 years$2,410$1,458$848$478$264$27
44 years$2,329$1,390$796$442$239$23
45 years$2,251$1,325$747$408$217$19
46 years$2,178$1,264$702$377$197$16
47 years$2,107$1,207$660$348$179$14
48 years$2,040$1,152$620$322$163$12
49 years$1,975$1,100$583$297$148$10
50 years$1,914$1,051$548$275$134$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,960,000, adding $6,635 every year, while hoping to spend $23,214 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: 53/35/12 Blend
59$1,960,000$1,960,000$1,960,000$1,960,000
60$2,166,764$2,062,884$2,032,504$2,274,464
61$2,363,074$2,139,266$2,075,893$2,424,919
62$2,578,630$2,218,612$2,119,958$2,585,472
63$2,815,371$2,301,044$2,164,697$2,759,617
64$3,075,431$2,386,687$2,210,106$2,948,645
65$3,361,163$2,475,673$2,256,183$3,153,979
66$3,675,159$2,568,139$2,302,922$3,377,184
67$4,020,274$2,664,226$2,350,319$3,619,976
68$4,399,653$2,764,085$2,398,367$3,884,249
69$4,816,763$2,867,870$2,447,057$4,172,082
70$5,275,421$2,975,744$2,496,381$4,485,764
71$5,779,833$3,087,875$2,546,329$4,827,812
72$6,334,634$3,204,439$2,596,890$5,200,996
73$6,944,931$3,325,620$2,648,049$5,608,365
74$7,616,349$3,451,611$2,699,794$6,053,273
75$8,355,087$3,582,611$2,752,108$6,539,413
76$9,167,976$3,718,828$2,804,974$7,070,848
77$10,062,540$3,860,482$2,858,371$7,652,050
78$11,047,072$4,007,798$2,912,279$8,287,945
79$12,130,709$4,161,015$2,966,675$8,983,953
80$13,323,516$4,320,380$3,021,534$9,746,040
81$14,636,587$4,486,151$3,076,828$10,580,779
82$16,082,144$4,658,598$3,132,527$11,495,402
83$17,673,657$4,838,003$3,188,601$12,497,875
84$19,425,964$5,024,659$3,245,013$13,596,971
85$21,355,419$5,218,874$3,301,727$14,802,347
86$23,480,040$5,420,967$3,358,704$16,124,641
87$25,819,683$5,631,274$3,415,899$17,575,568
88$28,396,227$5,850,143$3,473,269$19,168,028
89$31,233,782$6,077,939$3,530,762$20,916,231
90$34,358,912$6,315,043$3,588,328$22,835,826
91$37,800,894$6,561,852$3,645,909$24,944,051
92$41,591,985$6,818,783$3,703,447$27,259,892
93$45,767,732$7,086,268$3,760,877$29,804,262
94$50,367,306$7,364,761$3,818,132$32,600,196
95$55,433,872$7,654,735$3,875,140$35,673,072
96$61,014,994$7,956,684$3,931,825$39,050,841
97$67,163,087$8,271,125$3,988,104$42,764,296
98$73,935,910$8,598,598$4,043,893$46,847,360
99$81,397,109$8,939,665$4,099,100$51,337,402
100$89,616,822$9,294,917$4,153,628$56,275,591