Can I retire at age 60 with 2,070,000?

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 $2,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$170,939$169,416$167,930$166,481$165,065$164,231
2 years$84,623$83,047$81,520$80,039$78,602$77,761
3 years$55,855$54,272$52,749$51,282$49,868$49,046
4 years$41,474$39,896$38,387$36,945$35,567$34,768
5 years$32,847$31,279$29,790$28,378$27,037$26,266
6 years$27,098$25,541$24,075$22,694$21,394$20,650
7 years$22,993$21,450$20,006$18,658$17,399$16,684
8 years$19,916$18,386$16,967$15,652$14,434$13,748
9 years$17,524$16,009$14,614$13,332$12,155$11,497
10 years$15,611$14,111$12,741$11,492$10,357$9,727
11 years$14,047$12,562$11,217$10,002$8,907$8,305
12 years$12,745$11,275$9,954$8,773$7,719$7,144
13 years$11,644$10,189$8,894$7,745$6,731$6,182
14 years$10,701$9,262$7,991$6,875$5,900$5,378
15 years$9,885$8,461$7,215$6,131$5,195$4,698
16 years$9,171$7,763$6,541$5,490$4,592$4,119
17 years$8,542$7,149$5,952$4,933$4,071$3,622
18 years$7,983$6,606$5,434$4,445$3,620$3,194
19 years$7,484$6,122$4,974$4,017$3,226$2,823
20 years$7,035$5,689$4,565$3,638$2,882$2,500
21 years$6,630$5,299$4,199$3,302$2,579$2,218
22 years$6,262$4,947$3,870$3,002$2,312$1,970
23 years$5,926$4,627$3,573$2,734$2,075$1,753
24 years$5,619$4,335$3,305$2,494$1,865$1,562
25 years$5,337$4,068$3,061$2,277$1,678$1,392
26 years$5,077$3,823$2,839$2,082$1,512$1,243
27 years$4,836$3,598$2,636$1,906$1,363$1,110
28 years$4,614$3,391$2,451$1,746$1,230$992
29 years$4,407$3,199$2,280$1,601$1,111$887
30 years$4,214$3,021$2,124$1,470$1,003$794
31 years$4,034$2,856$1,980$1,350$907$711
32 years$3,865$2,702$1,848$1,240$821$637
33 years$3,707$2,559$1,725$1,141$743$571
34 years$3,559$2,425$1,612$1,050$672$512
35 years$3,419$2,300$1,507$966$609$459
36 years$3,288$2,183$1,410$890$552$412
37 years$3,164$2,074$1,320$820$500$369
38 years$3,046$1,971$1,236$756$453$331
39 years$2,935$1,874$1,158$697$411$298
40 years$2,830$1,783$1,085$643$373$267
41 years$2,730$1,697$1,017$593$338$240
42 years$2,635$1,616$954$547$307$215
43 years$2,545$1,540$896$505$279$194
44 years$2,459$1,468$841$466$253$174
45 years$2,378$1,400$789$431$230$156
46 years$2,300$1,335$741$398$208$140
47 years$2,225$1,274$697$368$189$126
48 years$2,154$1,217$655$340$172$113
49 years$2,086$1,162$615$314$156$102
50 years$2,021$1,110$578$290$142$92

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,070,000, adding $4,575 every year, while hoping to spend $38,838 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: 28/43/29 Blend
59$2,070,000$2,070,000$2,070,000$2,070,000
60$2,285,859$2,176,149$2,144,064$2,329,248
61$2,477,693$2,241,457$2,174,567$2,429,774
62$2,687,793$2,308,663$2,204,790$2,534,052
63$2,917,980$2,377,820$2,234,683$2,645,313
64$3,170,262$2,448,981$2,264,192$2,764,181
65$3,446,847$2,522,200$2,293,261$2,891,349
66$3,750,171$2,597,532$2,321,830$3,027,573
67$4,082,913$2,675,037$2,349,837$3,173,688
68$4,448,027$2,754,771$2,377,213$3,330,611
69$4,848,766$2,836,794$2,403,890$3,499,353
70$5,288,712$2,921,169$2,429,792$3,681,023
71$5,771,811$3,007,957$2,454,841$3,876,846
72$6,302,412$3,097,222$2,478,954$4,088,165
73$6,885,302$3,189,031$2,502,043$4,316,463
74$7,525,760$3,283,450$2,524,018$4,563,370
75$8,229,595$3,380,547$2,544,781$4,830,682
76$9,003,213$3,480,393$2,564,230$5,120,375
77$9,853,667$3,583,058$2,582,258$5,434,627
78$10,788,729$3,688,616$2,598,751$5,775,834
79$11,816,962$3,797,141$2,613,592$6,146,637
80$12,947,799$3,908,709$2,626,655$6,549,943
81$14,191,636$4,023,397$2,637,810$6,988,956
82$15,559,924$4,141,284$2,646,917$7,467,204
83$17,065,281$4,262,451$2,653,833$7,988,572
84$18,721,608$4,386,980$2,658,406$8,557,343
85$20,544,225$4,514,955$2,660,475$9,178,233
86$22,550,008$4,646,460$2,659,873$9,856,438
87$24,757,555$4,781,583$2,656,425$10,597,682
88$27,187,356$4,920,411$2,649,945$11,408,274
89$29,861,989$5,063,034$2,640,242$12,295,162
90$32,806,333$5,209,544$2,627,111$13,266,004
91$36,047,801$5,360,033$2,610,341$14,329,236
92$39,616,598$5,514,595$2,589,708$15,494,154
93$43,546,007$5,673,327$2,564,980$16,771,002
94$47,872,704$5,836,325$2,535,911$18,171,068
95$52,637,103$6,003,687$2,502,247$19,706,788
96$57,883,733$6,175,514$2,463,718$21,391,868
97$63,661,666$6,351,906$2,420,044$23,241,411
98$70,024,972$6,532,965$2,370,932$25,272,059
99$77,033,234$6,718,796$2,316,074$27,502,153
100$84,752,109$6,909,502$2,255,147$29,951,902