Can I retire at age 60 with 1,980,000?

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 $1,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$163,507$162,050$160,629$159,242$157,888$154,890
2 years$80,944$79,436$77,975$76,559$75,185$72,176
3 years$53,427$51,913$50,455$49,052$47,700$44,775
4 years$39,671$38,161$36,718$35,339$34,020$31,200
5 years$31,419$29,919$28,495$27,144$25,862$23,155
6 years$25,920$24,431$23,028$21,707$20,463$17,874
7 years$21,994$20,517$19,137$17,847$16,642$14,170
8 years$19,050$17,587$16,229$14,971$13,806$11,451
9 years$16,762$15,313$13,978$12,752$11,627$9,386
10 years$14,932$13,497$12,187$10,992$9,907$7,779
11 years$13,437$12,016$10,729$9,567$8,520$6,503
12 years$12,191$10,785$9,522$8,391$7,383$5,474
13 years$11,138$9,746$8,507$7,408$6,438$4,634
14 years$10,236$8,859$7,644$6,576$5,644$3,941
15 years$9,455$8,093$6,901$5,865$4,969$3,364
16 years$8,772$7,425$6,257$5,251$4,392$2,881
17 years$8,170$6,838$5,693$4,718$3,894$2,474
18 years$7,636$6,319$5,197$4,252$3,463$2,129
19 years$7,159$5,856$4,758$3,842$3,086$1,836
20 years$6,729$5,442$4,367$3,480$2,757$1,585
21 years$6,342$5,069$4,016$3,158$2,467$1,371
22 years$5,989$4,732$3,702$2,871$2,211$1,187
23 years$5,668$4,425$3,418$2,615$1,985$1,029
24 years$5,375$4,146$3,161$2,385$1,784$893
25 years$5,105$3,891$2,928$2,178$1,605$775
26 years$4,856$3,657$2,715$1,992$1,446$673
27 years$4,626$3,442$2,521$1,823$1,304$585
28 years$4,413$3,243$2,344$1,670$1,176$509
29 years$4,215$3,059$2,181$1,532$1,062$443
30 years$4,030$2,889$2,032$1,406$960$386
31 years$3,858$2,731$1,894$1,291$868$336
32 years$3,697$2,584$1,767$1,186$785$292
33 years$3,546$2,448$1,650$1,091$710$255
34 years$3,404$2,320$1,542$1,004$643$222
35 years$3,270$2,200$1,441$924$583$193
36 years$3,145$2,088$1,348$851$528$169
37 years$3,026$1,983$1,262$784$478$147
38 years$2,914$1,885$1,182$723$434$128
39 years$2,808$1,792$1,107$666$393$112
40 years$2,707$1,705$1,038$615$357$97
41 years$2,612$1,623$973$567$324$85
42 years$2,521$1,546$913$523$294$74
43 years$2,435$1,473$857$483$267$65
44 years$2,353$1,404$804$446$242$56
45 years$2,274$1,339$755$412$220$49
46 years$2,200$1,277$709$381$199$43
47 years$2,129$1,219$666$352$181$37
48 years$2,060$1,164$626$325$164$33
49 years$1,995$1,111$588$300$149$29
50 years$1,933$1,061$553$278$136$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $1,980,000, adding $4,456 every year, while hoping to spend $25,275 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: 79/13/8 Blend
59$1,980,000$1,980,000$1,980,000$1,980,000
60$2,186,556$2,081,616$2,050,926$2,356,601
61$2,382,693$2,156,723$2,092,740$2,543,875
62$2,597,988$2,234,663$2,135,107$2,745,514
63$2,834,369$2,315,548$2,178,020$2,965,960
64$3,093,960$2,399,495$2,221,469$3,207,076
65$3,379,100$2,486,626$2,265,444$3,470,914
66$3,692,365$2,577,068$2,309,933$3,759,734
67$4,036,593$2,670,952$2,354,923$4,076,024
68$4,414,913$2,768,415$2,400,400$4,422,524
69$4,830,769$2,869,602$2,446,348$4,802,252
70$5,287,956$2,974,662$2,492,750$5,218,531
71$5,790,657$3,083,749$2,539,586$5,675,021
72$6,343,478$3,197,027$2,586,836$6,175,753
73$6,951,495$3,314,664$2,634,478$6,725,169
74$7,620,301$3,436,835$2,682,486$7,328,158
75$8,356,057$3,563,726$2,730,835$7,990,108
76$9,165,553$3,695,526$2,779,496$8,716,953
77$10,056,268$3,832,436$2,828,438$9,515,229
78$11,036,445$3,974,663$2,877,628$10,392,139
79$12,115,165$4,122,424$2,927,031$11,355,614
80$13,302,433$4,275,945$2,976,608$12,414,394
81$14,609,277$4,435,461$3,026,320$13,578,106
82$16,047,843$4,601,218$3,076,121$14,857,356
83$17,631,517$4,773,473$3,125,966$16,263,829
84$19,375,051$4,952,492$3,175,805$17,810,398
85$21,294,697$5,138,554$3,225,585$19,511,247
86$23,408,363$5,331,951$3,275,249$21,382,002
87$25,735,783$5,532,984$3,324,737$23,439,879
88$28,298,704$5,741,971$3,373,986$25,703,848
89$31,121,085$5,959,240$3,422,928$28,194,807
90$34,229,330$6,185,138$3,471,491$30,935,785
91$37,652,534$6,420,022$3,519,598$33,952,153
92$41,422,757$6,664,267$3,567,169$37,271,867
93$45,575,326$6,918,265$3,614,118$40,925,730
94$50,149,173$7,182,423$3,660,354$44,947,680
95$55,187,195$7,457,168$3,705,782$49,375,115
96$60,736,663$7,742,943$3,750,300$54,249,241
97$66,849,669$8,040,214$3,793,801$59,615,462
98$73,583,614$8,349,463$3,836,172$65,523,807
99$81,001,753$8,671,197$3,877,294$72,029,405
100$89,173,789$9,005,943$3,917,041$79,192,998