Can I retire at age 60 with 2,240,000?

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 $2,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$184,977$183,329$181,722$180,153$178,621$172,834
2 years$91,573$89,867$88,215$86,612$85,057$79,282
3 years$60,442$58,729$57,081$55,493$53,964$48,380
4 years$44,880$43,172$41,540$39,980$38,488$33,139
5 years$35,545$33,848$32,237$30,708$29,258$24,158
6 years$29,324$27,639$26,052$24,558$23,151$18,305
7 years$24,882$23,211$21,649$20,190$18,828$14,235
8 years$21,552$19,896$18,360$16,937$15,619$11,276
9 years$18,963$17,323$15,814$14,427$13,154$9,056
10 years$16,893$15,270$13,787$12,436$11,208$7,348
11 years$15,201$13,594$12,138$10,823$9,639$6,011
12 years$13,792$12,201$10,772$9,493$8,353$4,948
13 years$12,600$11,026$9,624$8,381$7,284$4,094
14 years$11,580$10,022$8,647$7,440$6,385$3,401
15 years$10,696$9,156$7,807$6,635$5,622$2,835
16 years$9,924$8,400$7,078$5,941$4,969$2,370
17 years$9,243$7,736$6,441$5,338$4,406$1,985
18 years$8,639$7,149$5,880$4,810$3,917$1,666
19 years$8,099$6,625$5,383$4,347$3,491$1,400
20 years$7,613$6,157$4,940$3,937$3,119$1,179
21 years$7,174$5,735$4,544$3,573$2,791$993
22 years$6,776$5,353$4,188$3,249$2,502$838
23 years$6,413$5,007$3,867$2,959$2,246$707
24 years$6,080$4,691$3,576$2,698$2,018$597
25 years$5,775$4,402$3,312$2,464$1,816$504
26 years$5,494$4,137$3,072$2,253$1,636$426
27 years$5,234$3,894$2,853$2,062$1,475$361
28 years$4,992$3,669$2,652$1,890$1,331$305
29 years$4,768$3,461$2,468$1,733$1,202$258
30 years$4,560$3,269$2,299$1,590$1,086$219
31 years$4,365$3,090$2,143$1,461$982$185
32 years$4,182$2,924$1,999$1,342$888$157
33 years$4,012$2,769$1,867$1,234$804$133
34 years$3,851$2,624$1,744$1,136$728$112
35 years$3,700$2,489$1,631$1,045$659$95
36 years$3,558$2,363$1,526$963$597$81
37 years$3,423$2,244$1,428$887$541$68
38 years$3,296$2,132$1,337$818$491$58
39 years$3,176$2,028$1,253$754$445$49
40 years$3,062$1,929$1,174$695$404$42
41 years$2,954$1,836$1,101$642$366$35
42 years$2,852$1,749$1,033$592$332$30
43 years$2,754$1,666$969$547$302$25
44 years$2,661$1,588$910$505$274$21
45 years$2,573$1,515$854$466$248$18
46 years$2,489$1,445$802$431$226$15
47 years$2,408$1,379$754$398$205$13
48 years$2,331$1,316$708$368$186$11
49 years$2,257$1,257$666$340$169$9
50 years$2,187$1,201$626$314$153$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,240,000, adding $3,049 every year, while hoping to spend $48,833 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: 39/35/26 Blend
59$2,240,000$2,240,000$2,240,000$2,240,000
60$2,471,625$2,352,905$2,318,185$2,548,837
61$2,671,773$2,416,239$2,343,886$2,668,633
62$2,890,699$2,481,041$2,368,812$2,793,320
63$3,130,268$2,547,329$2,392,884$2,927,199
64$3,392,531$2,615,124$2,416,022$3,071,137
65$3,679,748$2,684,444$2,438,138$3,226,089
66$3,994,409$2,755,309$2,459,142$3,393,107
67$4,339,254$2,827,734$2,478,939$3,573,351
68$4,717,302$2,901,737$2,497,427$3,768,096
69$5,131,878$2,977,333$2,514,502$3,978,749
70$5,586,642$3,054,535$2,530,050$4,206,858
71$6,085,629$3,133,356$2,543,956$4,454,131
72$6,633,281$3,213,808$2,556,096$4,722,447
73$7,234,491$3,295,900$2,566,341$5,013,879
74$7,894,649$3,379,640$2,574,554$5,330,710
75$8,619,695$3,465,034$2,580,593$5,675,456
76$9,416,169$3,552,086$2,584,308$6,050,889
77$10,291,276$3,640,796$2,585,541$6,460,066
78$11,252,957$3,731,166$2,584,127$6,906,352
79$12,309,956$3,823,190$2,579,892$7,393,460
80$13,471,909$3,916,864$2,572,656$7,925,480
81$14,749,430$4,012,177$2,562,227$8,506,919
82$16,154,216$4,109,117$2,548,405$9,142,744
83$17,699,150$4,207,668$2,530,981$9,838,433
84$19,398,429$4,307,810$2,509,735$10,600,020
85$21,267,695$4,409,519$2,484,437$11,434,157
86$23,324,181$4,512,766$2,454,846$12,348,176
87$25,586,875$4,617,519$2,420,711$13,350,157
88$28,076,697$4,723,739$2,381,766$14,449,007
89$30,816,701$4,831,382$2,337,735$15,654,544
90$33,832,284$4,940,399$2,288,329$16,977,587
91$37,151,433$5,050,736$2,233,245$18,430,064
92$40,804,986$5,162,328$2,172,165$20,025,118
93$44,826,921$5,275,108$2,104,759$21,777,241
94$49,254,677$5,388,999$2,030,679$23,702,401
95$54,129,511$5,503,916$1,949,563$25,818,201
96$59,496,879$5,619,766$1,861,031$28,144,041
97$65,406,872$5,736,447$1,764,687$30,701,307
98$71,914,686$5,853,846$1,660,118$33,513,568
99$79,081,142$5,971,841$1,546,889$36,606,802
100$86,973,257$6,090,300$1,424,548$40,009,642