Can I retire at age 60 with 2,140,000?

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 $2,140,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$176,719$175,145$173,609$172,110$170,647$166,454
2 years$87,485$85,855$84,276$82,745$81,260$77,062
3 years$57,744$56,107$54,532$53,016$51,555$47,482
4 years$42,876$41,245$39,686$38,195$36,769$32,854
5 years$33,958$32,337$30,798$29,337$27,951$24,204
6 years$28,015$26,405$24,889$23,461$22,117$18,541
7 years$23,771$22,175$20,683$19,289$17,987$14,583
8 years$20,590$19,008$17,541$16,181$14,922$11,689
9 years$18,116$16,550$15,108$13,783$12,567$9,502
10 years$16,139$14,588$13,171$11,881$10,707$7,807
11 years$14,522$12,987$11,596$10,340$9,209$6,469
12 years$13,176$11,656$10,291$9,069$7,980$5,396
13 years$12,038$10,534$9,194$8,007$6,959$4,525
14 years$11,063$9,575$8,261$7,108$6,100$3,811
15 years$10,219$8,747$7,459$6,339$5,371$3,222
16 years$9,481$8,025$6,762$5,676$4,747$2,732
17 years$8,831$7,391$6,154$5,100$4,209$2,322
18 years$8,253$6,829$5,617$4,596$3,742$1,978
19 years$7,737$6,330$5,142$4,153$3,336$1,688
20 years$7,273$5,882$4,719$3,761$2,979$1,443
21 years$6,854$5,479$4,341$3,413$2,666$1,234
22 years$6,473$5,114$4,001$3,104$2,390$1,057
23 years$6,127$4,783$3,694$2,826$2,145$907
24 years$5,809$4,481$3,416$2,578$1,928$778
25 years$5,517$4,206$3,164$2,354$1,735$668
26 years$5,248$3,953$2,935$2,153$1,563$574
27 years$5,000$3,720$2,725$1,970$1,409$493
28 years$4,770$3,505$2,533$1,805$1,271$424
29 years$4,556$3,307$2,358$1,655$1,148$365
30 years$4,356$3,123$2,196$1,519$1,037$314
31 years$4,170$2,952$2,047$1,395$938$270
32 years$3,996$2,793$1,910$1,282$848$233
33 years$3,832$2,645$1,783$1,179$768$200
34 years$3,679$2,507$1,666$1,085$695$172
35 years$3,535$2,378$1,558$999$630$149
36 years$3,399$2,257$1,457$920$570$128
37 years$3,271$2,144$1,364$848$517$110
38 years$3,149$2,037$1,277$781$469$95
39 years$3,034$1,937$1,197$720$425$82
40 years$2,926$1,843$1,122$664$386$71
41 years$2,823$1,754$1,052$613$350$61
42 years$2,725$1,671$987$566$317$52
43 years$2,631$1,592$926$522$288$45
44 years$2,543$1,518$869$482$261$39
45 years$2,458$1,447$816$445$237$34
46 years$2,377$1,381$766$411$216$29
47 years$2,301$1,317$720$380$196$25
48 years$2,227$1,258$677$351$178$21
49 years$2,157$1,201$636$325$161$19
50 years$2,089$1,147$598$300$147$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,140,000, adding $5,553 every year, while hoping to spend $46,628 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: 47/45/8 Blend
59$2,140,000$2,140,000$2,140,000$2,140,000
60$2,364,008$2,250,588$2,217,418$2,469,724
61$2,555,525$2,311,255$2,242,090$2,603,618
62$2,765,014$2,373,332$2,266,025$2,743,516
63$2,994,259$2,436,838$2,289,150$2,894,259
64$3,245,224$2,501,794$2,311,387$3,056,865
65$3,520,072$2,568,218$2,332,654$3,232,458
66$3,821,186$2,636,126$2,352,865$3,422,273
67$4,151,188$2,705,538$2,371,927$3,627,669
68$4,512,968$2,776,468$2,389,745$3,850,142
69$4,909,708$2,848,933$2,406,219$4,091,340
70$5,344,913$2,922,945$2,421,242$4,353,074
71$5,822,442$2,998,517$2,434,702$4,637,343
72$6,346,549$3,075,662$2,446,482$4,946,344
73$6,921,916$3,154,389$2,456,458$5,282,497
74$7,553,703$3,234,706$2,464,502$5,648,469
75$8,247,594$3,316,620$2,470,476$6,047,194
76$9,009,849$3,400,135$2,474,237$6,481,906
77$9,847,366$3,485,253$2,475,636$6,956,166
78$10,767,743$3,571,976$2,474,515$7,473,897
79$11,779,350$3,660,300$2,470,709$8,039,420
80$12,891,410$3,750,222$2,464,044$8,657,495
81$14,114,083$3,841,732$2,454,339$9,333,366
82$15,458,563$3,934,820$2,441,403$10,072,810
83$16,937,182$4,029,472$2,425,036$10,882,191
84$18,563,529$4,125,670$2,405,028$11,768,522
85$20,352,574$4,223,393$2,381,162$12,739,528
86$22,320,812$4,322,614$2,353,206$13,803,723
87$24,486,416$4,423,304$2,320,920$14,970,484
88$26,869,412$4,525,428$2,284,052$16,250,146
89$29,491,863$4,628,945$2,242,339$17,654,097
90$32,378,080$4,733,810$2,195,504$19,194,884
91$35,554,850$4,839,972$2,143,259$20,886,334
92$39,051,687$4,947,373$2,085,301$22,743,680
93$42,901,115$5,055,950$2,021,314$24,783,713
94$47,138,968$5,165,631$1,950,967$27,024,932
95$51,804,733$5,276,337$1,873,915$29,487,722
96$56,941,920$5,387,982$1,789,796$32,194,550
97$62,598,473$5,500,471$1,698,231$35,170,171
98$68,827,222$5,613,698$1,598,826$38,441,866
99$75,686,380$5,727,550$1,491,168$42,039,699
100$83,240,093$5,841,903$1,374,825$45,996,799