Can I retire at age 60 with 2,230,000?

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 $2,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$184,151$182,511$180,911$179,349$177,823$176,113
2 years$91,164$89,466$87,821$86,225$84,678$82,955
3 years$60,172$58,467$56,826$55,245$53,723$52,041
4 years$44,679$42,980$41,355$39,801$38,316$36,687
5 years$35,386$33,696$32,093$30,571$29,127$27,557
6 years$29,193$27,516$25,936$24,448$23,047$21,538
7 years$24,771$23,108$21,553$20,100$18,744$17,295
8 years$21,455$19,808$18,278$16,861$15,550$14,163
9 years$18,878$17,246$15,743$14,362$13,095$11,769
10 years$16,818$15,202$13,725$12,380$11,158$9,891
11 years$15,133$13,533$12,084$10,775$9,596$8,388
12 years$13,730$12,147$10,724$9,451$8,316$7,166
13 years$12,544$10,977$9,581$8,344$7,251$6,158
14 years$11,528$9,978$8,609$7,407$6,357$5,318
15 years$10,649$9,115$7,772$6,605$5,597$4,611
16 years$9,880$8,363$7,047$5,914$4,946$4,013
17 years$9,202$7,702$6,412$5,314$4,386$3,502
18 years$8,600$7,117$5,854$4,789$3,900$3,064
19 years$8,062$6,596$5,359$4,327$3,476$2,687
20 years$7,579$6,129$4,918$3,919$3,105$2,361
21 years$7,142$5,709$4,524$3,557$2,778$2,077
22 years$6,746$5,329$4,169$3,234$2,490$1,831
23 years$6,384$4,984$3,850$2,945$2,236$1,615
24 years$6,053$4,670$3,560$2,686$2,009$1,427
25 years$5,749$4,382$3,297$2,453$1,808$1,261
26 years$5,469$4,119$3,058$2,243$1,629$1,116
27 years$5,210$3,876$2,840$2,053$1,468$988
28 years$4,970$3,653$2,640$1,881$1,325$876
29 years$4,747$3,446$2,457$1,725$1,196$776
30 years$4,539$3,254$2,288$1,583$1,081$688
31 years$4,345$3,076$2,133$1,454$977$611
32 years$4,164$2,911$1,990$1,336$884$542
33 years$3,994$2,757$1,858$1,229$800$482
34 years$3,834$2,613$1,736$1,131$724$428
35 years$3,683$2,478$1,623$1,041$656$380
36 years$3,542$2,352$1,519$959$594$338
37 years$3,408$2,234$1,421$883$539$300
38 years$3,282$2,123$1,331$814$488$267
39 years$3,162$2,019$1,247$751$443$237
40 years$3,049$1,921$1,169$692$402$211
41 years$2,941$1,828$1,096$639$365$188
42 years$2,839$1,741$1,028$589$331$167
43 years$2,742$1,659$965$544$300$149
44 years$2,650$1,581$906$502$272$132
45 years$2,561$1,508$850$464$247$118
46 years$2,477$1,439$799$429$225$105
47 years$2,397$1,373$750$396$204$93
48 years$2,321$1,311$705$366$185$83
49 years$2,247$1,252$663$338$168$74
50 years$2,177$1,195$623$313$153$66

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,230,000, adding $3,200 every year, while hoping to spend $33,449 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: 41/38/21 Blend
59$2,230,000$2,230,000$2,230,000$2,230,000
60$2,460,761$2,342,571$2,308,006$2,546,312
61$2,676,169$2,421,767$2,349,735$2,686,888
62$2,912,428$2,503,723$2,391,740$2,835,496
63$3,171,628$2,588,539$2,433,996$2,995,666
64$3,456,075$2,676,318$2,476,476$3,168,475
65$3,768,304$2,767,167$2,519,147$3,355,105
66$4,111,112$2,861,199$2,561,980$3,556,857
67$4,487,577$2,958,529$2,604,938$3,775,161
68$4,901,091$3,059,278$2,647,984$4,011,589
69$5,355,391$3,163,572$2,691,080$4,267,872
70$5,854,592$3,271,538$2,734,183$4,545,910
71$6,403,230$3,383,313$2,777,248$4,847,798
72$7,006,301$3,499,036$2,820,226$5,175,838
73$7,669,307$3,618,853$2,863,068$5,532,564
74$8,398,314$3,742,914$2,905,718$5,920,763
75$9,200,002$3,871,377$2,948,119$6,343,505
76$10,081,731$4,004,404$2,990,211$6,804,167
77$11,051,612$4,142,163$3,031,927$7,306,467
78$12,118,579$4,284,832$3,073,199$7,854,496
79$13,292,477$4,432,592$3,113,954$8,452,760
80$14,584,154$4,585,633$3,154,116$9,106,220
81$16,005,560$4,744,152$3,193,602$9,820,335
82$17,569,866$4,908,354$3,232,326$10,601,119
83$19,291,581$5,078,452$3,270,197$11,455,193
84$21,186,692$5,254,666$3,307,119$12,389,848
85$23,272,818$5,437,227$3,342,990$13,413,113
86$25,569,368$5,626,374$3,377,703$14,533,831
87$28,097,732$5,822,355$3,411,144$15,761,740
88$30,881,478$6,025,428$3,443,195$17,107,567
89$33,946,576$6,235,861$3,473,729$18,583,124
90$37,321,642$6,453,934$3,502,615$20,201,425
91$41,038,210$6,679,937$3,529,713$21,976,801
92$45,131,025$6,914,171$3,554,876$23,925,040
93$49,638,375$7,156,951$3,577,950$26,063,533
94$54,602,450$7,408,603$3,598,772$28,411,438
95$60,069,741$7,669,466$3,617,172$30,989,859
96$66,091,478$7,939,893$3,632,971$33,822,044
97$72,724,113$8,220,251$3,645,979$36,933,605
98$80,029,852$8,510,924$3,655,999$40,352,757
99$88,077,246$8,812,307$3,662,824$44,110,587
100$96,941,830$9,124,815$3,666,233$48,241,342