Can I retire at age 60 with 2,280,000?

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 $2,280,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$188,280$186,603$184,967$183,370$181,810$178,798
2 years$93,208$91,472$89,790$88,159$86,576$83,551
3 years$61,521$59,778$58,100$56,484$54,928$51,982
4 years$45,681$43,943$42,282$40,694$39,175$36,333
5 years$36,180$34,452$32,812$31,257$29,780$27,049
6 years$29,847$28,133$26,517$24,996$23,564$20,948
7 years$25,326$23,626$22,036$20,551$19,164$16,663
8 years$21,936$20,252$18,688$17,239$15,898$13,512
9 years$19,302$17,633$16,096$14,684$13,389$11,116
10 years$17,195$15,542$14,033$12,658$11,408$9,246
11 years$15,472$13,836$12,354$11,016$9,811$7,759
12 years$14,038$12,419$10,964$9,663$8,502$6,556
13 years$12,825$11,223$9,796$8,531$7,414$5,572
14 years$11,787$10,201$8,802$7,573$6,499$4,758
15 years$10,887$9,319$7,947$6,753$5,722$4,078
16 years$10,101$8,550$7,205$6,047$5,057$3,507
17 years$9,408$7,874$6,556$5,433$4,484$3,024
18 years$8,793$7,276$5,985$4,896$3,987$2,614
19 years$8,243$6,744$5,479$4,424$3,554$2,264
20 years$7,749$6,266$5,028$4,007$3,174$1,964
21 years$7,302$5,837$4,625$3,637$2,841$1,707
22 years$6,897$5,449$4,263$3,307$2,546$1,485
23 years$6,527$5,096$3,936$3,011$2,286$1,293
24 years$6,189$4,775$3,640$2,747$2,054$1,127
25 years$5,878$4,481$3,371$2,508$1,849$983
26 years$5,592$4,211$3,127$2,293$1,665$858
27 years$5,327$3,963$2,903$2,099$1,501$750
28 years$5,082$3,734$2,699$1,923$1,355$655
29 years$4,854$3,523$2,512$1,764$1,223$573
30 years$4,641$3,327$2,340$1,619$1,105$501
31 years$4,443$3,145$2,181$1,487$999$439
32 years$4,257$2,976$2,035$1,366$904$384
33 years$4,083$2,818$1,900$1,256$818$336
34 years$3,920$2,671$1,775$1,156$741$294
35 years$3,766$2,534$1,660$1,064$671$258
36 years$3,621$2,405$1,553$980$608$226
37 years$3,484$2,284$1,453$903$551$198
38 years$3,355$2,171$1,361$832$499$173
39 years$3,233$2,064$1,275$767$453$152
40 years$3,117$1,964$1,195$708$411$133
41 years$3,007$1,869$1,121$653$373$117
42 years$2,903$1,780$1,051$603$338$102
43 years$2,803$1,696$986$556$307$90
44 years$2,709$1,617$926$514$279$79
45 years$2,619$1,542$869$474$253$69
46 years$2,533$1,471$817$438$230$61
47 years$2,451$1,404$767$405$209$53
48 years$2,373$1,340$721$374$189$47
49 years$2,298$1,280$678$346$172$41
50 years$2,226$1,222$637$320$156$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,280,000, adding $5,985 every year, while hoping to spend $59,087 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: 81/7/12 Blend
59$2,280,000$2,280,000$2,280,000$2,280,000
60$2,518,734$2,397,894$2,362,554$2,716,797
61$2,712,776$2,452,522$2,378,831$2,902,252
62$2,924,631$2,507,847$2,393,673$3,097,440
63$3,156,052$2,563,841$2,406,970$3,309,955
64$3,408,971$2,620,471$2,418,605$3,541,507
65$3,685,515$2,677,702$2,428,457$3,793,975
66$3,988,023$2,735,496$2,436,397$4,069,431
67$4,319,076$2,793,809$2,442,290$4,370,156
68$4,681,510$2,852,594$2,445,995$4,698,663
69$5,078,452$2,911,799$2,447,364$5,057,720
70$5,513,344$2,971,367$2,446,241$5,450,377
71$5,989,977$3,031,236$2,442,462$5,879,993
72$6,512,526$3,091,338$2,435,856$6,350,268
73$7,085,590$3,151,600$2,426,243$6,865,280
74$7,714,233$3,211,941$2,413,435$7,429,520
75$8,404,034$3,272,275$2,397,234$8,047,938
76$9,161,137$3,332,509$2,377,433$8,725,986
77$9,992,312$3,392,540$2,353,816$9,469,673
78$10,905,013$3,452,261$2,326,155$10,285,616
79$11,907,455$3,511,552$2,294,211$11,181,110
80$13,008,686$3,570,288$2,257,737$12,164,191
81$14,218,671$3,628,332$2,216,471$13,243,715
82$15,548,393$3,685,538$2,170,141$14,429,438
83$17,009,949$3,741,748$2,118,459$15,732,111
84$18,616,665$3,796,795$2,061,129$17,163,583
85$20,383,224$3,850,498$1,997,837$18,736,907
86$22,325,804$3,902,663$1,928,255$20,466,469
87$24,462,227$3,953,085$1,852,043$22,368,121
88$26,812,130$4,001,541$1,768,842$24,459,330
89$29,397,147$4,047,797$1,678,278$26,759,346
90$32,241,117$4,091,600$1,579,961$29,289,379
91$35,370,304$4,132,682$1,473,483$32,072,803
92$38,813,647$4,170,755$1,358,416$35,135,377
93$42,603,031$4,205,514$1,234,316$38,505,485
94$46,773,590$4,236,634$1,100,715$42,214,406
95$51,364,035$4,263,767$957,127$46,296,610
96$56,417,020$4,286,546$803,045$50,790,082
97$61,979,547$4,304,577$637,938$55,736,680
98$68,103,403$4,317,444$461,251$61,182,533
99$74,845,653$4,324,702$272,406$67,178,475
100$82,269,178$4,325,880$70,799$73,780,524