Can I retire at age 60 with 2,120,000?

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 $2,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$175,068$173,508$171,987$170,502$169,052$165,099
2 years$86,667$85,053$83,489$81,972$80,501$76,541
3 years$57,204$55,583$54,023$52,520$51,073$47,230
4 years$42,476$40,859$39,315$37,838$36,426$32,729
5 years$33,641$32,034$30,510$29,063$27,690$24,150
6 years$27,753$26,158$24,656$23,242$21,910$18,530
7 years$23,549$21,968$20,490$19,109$17,819$14,599
8 years$20,397$18,830$17,377$16,030$14,783$11,722
9 years$17,947$16,395$14,967$13,654$12,449$9,546
10 years$15,988$14,452$13,048$11,770$10,607$7,858
11 years$14,387$12,865$11,488$10,243$9,123$6,523
12 years$13,053$11,547$10,195$8,985$7,905$5,452
13 years$11,925$10,435$9,108$7,932$6,894$4,581
14 years$10,960$9,486$8,184$7,041$6,043$3,867
15 years$10,123$8,665$7,389$6,280$5,321$3,276
16 years$9,392$7,950$6,699$5,623$4,702$2,784
17 years$8,748$7,322$6,096$5,052$4,170$2,371
18 years$8,176$6,766$5,565$4,553$3,707$2,024
19 years$7,665$6,270$5,094$4,114$3,304$1,731
20 years$7,205$5,827$4,675$3,726$2,952$1,483
21 years$6,790$5,427$4,300$3,381$2,641$1,272
22 years$6,413$5,066$3,964$3,075$2,368$1,092
23 years$6,069$4,738$3,660$2,800$2,125$938
24 years$5,755$4,440$3,385$2,554$1,910$807
25 years$5,466$4,166$3,135$2,332$1,719$695
26 years$5,199$3,916$2,907$2,132$1,548$598
27 years$4,953$3,685$2,700$1,952$1,396$515
28 years$4,725$3,472$2,510$1,788$1,260$444
29 years$4,513$3,276$2,336$1,640$1,137$383
30 years$4,315$3,094$2,175$1,505$1,028$330
31 years$4,131$2,925$2,028$1,382$929$285
32 years$3,958$2,767$1,892$1,270$840$246
33 years$3,797$2,621$1,767$1,168$761$212
34 years$3,645$2,484$1,651$1,075$689$183
35 years$3,502$2,356$1,543$989$624$158
36 years$3,367$2,236$1,444$911$565$137
37 years$3,240$2,124$1,351$840$512$118
38 years$3,120$2,018$1,266$774$464$102
39 years$3,006$1,919$1,186$714$421$88
40 years$2,898$1,826$1,111$658$382$76
41 years$2,796$1,738$1,042$607$347$66
42 years$2,699$1,655$977$560$314$57
43 years$2,607$1,577$917$517$285$49
44 years$2,519$1,503$861$478$259$42
45 years$2,435$1,434$808$441$235$37
46 years$2,355$1,368$759$407$214$32
47 years$2,279$1,305$713$376$194$27
48 years$2,206$1,246$670$348$176$24
49 years$2,137$1,190$630$321$160$20
50 years$2,070$1,137$592$297$145$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,120,000, adding $6,503 every year, while hoping to spend $40,297 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: 68/7/25 Blend
59$2,120,000$2,120,000$2,120,000$2,120,000
60$2,342,948$2,230,588$2,197,728$2,486,797
61$2,539,053$2,297,011$2,228,476$2,650,597
62$2,753,810$2,365,338$2,258,904$2,824,516
63$2,989,079$2,435,620$2,288,958$3,013,856
64$3,246,909$2,507,909$2,318,581$3,220,142
65$3,529,555$2,582,258$2,347,715$3,445,053
66$3,839,502$2,658,721$2,376,296$3,690,438
67$4,179,486$2,737,354$2,404,257$3,958,335
68$4,552,522$2,818,212$2,431,528$4,250,989
69$4,961,930$2,901,355$2,458,034$4,570,873
70$5,411,366$2,986,841$2,483,698$4,920,711
71$5,904,859$3,074,730$2,508,436$5,303,505
72$6,446,847$3,165,084$2,532,161$5,722,563
73$7,042,218$3,257,966$2,554,781$6,181,530
74$7,696,358$3,353,439$2,576,199$6,684,419
75$8,415,198$3,451,570$2,596,313$7,235,656
76$9,205,275$3,552,424$2,615,017$7,840,116
77$10,073,789$3,656,069$2,632,196$8,503,169
78$11,028,674$3,762,574$2,647,733$9,230,737
79$12,078,668$3,872,010$2,661,502$10,029,340
80$13,233,402$3,984,448$2,673,371$10,906,165
81$14,503,483$4,099,960$2,683,204$11,869,134
82$15,900,602$4,218,622$2,690,855$12,926,973
83$17,437,636$4,340,507$2,696,171$14,089,299
84$19,128,776$4,465,693$2,698,994$15,366,710
85$20,989,656$4,594,257$2,699,155$16,770,885
86$23,037,503$4,726,277$2,696,478$18,314,692
87$25,291,297$4,861,834$2,690,779$20,012,315
88$27,771,953$5,001,008$2,681,865$21,879,382
89$30,502,517$5,143,881$2,669,531$23,933,114
90$33,508,378$5,290,536$2,653,565$26,192,492
91$36,817,518$5,441,058$2,633,745$28,678,430
92$40,460,766$5,595,530$2,609,836$31,413,978
93$44,472,093$5,754,040$2,581,594$34,424,534
94$48,888,931$5,916,673$2,548,763$37,738,091
95$53,752,528$6,083,516$2,511,072$41,385,495
96$59,108,336$6,254,658$2,468,243$45,400,738
97$65,006,436$6,430,187$2,419,980$49,821,283
98$71,502,019$6,610,191$2,365,975$54,688,411
99$78,655,895$6,794,762$2,305,906$60,047,618
100$86,535,079$6,983,987$2,239,435$65,949,040