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

Use the below retirement simulation to view the chances of a successful retirement.
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%14.5%
1 years$188,280$186,603$184,967$183,370$181,810$178,432
2 years$93,208$91,472$89,790$88,159$86,576$83,185
3 years$61,521$59,778$58,100$56,484$54,928$51,629
4 years$45,681$43,943$42,282$40,694$39,175$35,995
5 years$36,180$34,452$32,812$31,257$29,780$26,728
6 years$29,847$28,133$26,517$24,996$23,564$20,642
7 years$25,326$23,626$22,036$20,551$19,164$16,374
8 years$21,936$20,252$18,688$17,239$15,898$13,239
9 years$19,302$17,633$16,096$14,684$13,389$10,859
10 years$17,195$15,542$14,033$12,658$11,408$9,005
11 years$15,472$13,836$12,354$11,016$9,811$7,533
12 years$14,038$12,419$10,964$9,663$8,502$6,345
13 years$12,825$11,223$9,796$8,531$7,414$5,374
14 years$11,787$10,201$8,802$7,573$6,499$4,574
15 years$10,887$9,319$7,947$6,753$5,722$3,907
16 years$10,101$8,550$7,205$6,047$5,057$3,348
17 years$9,408$7,874$6,556$5,433$4,484$2,877
18 years$8,793$7,276$5,985$4,896$3,987$2,478
19 years$8,243$6,744$5,479$4,424$3,554$2,138
20 years$7,749$6,266$5,028$4,007$3,174$1,848
21 years$7,302$5,837$4,625$3,637$2,841$1,599
22 years$6,897$5,449$4,263$3,307$2,546$1,386
23 years$6,527$5,096$3,936$3,011$2,286$1,202
24 years$6,189$4,775$3,640$2,747$2,054$1,044
25 years$5,878$4,481$3,371$2,508$1,849$907
26 years$5,592$4,211$3,127$2,293$1,665$789
27 years$5,327$3,963$2,903$2,099$1,501$686
28 years$5,082$3,734$2,699$1,923$1,355$597
29 years$4,854$3,523$2,512$1,764$1,223$520
30 years$4,641$3,327$2,340$1,619$1,105$453
31 years$4,443$3,145$2,181$1,487$999$395
32 years$4,257$2,976$2,035$1,366$904$344
33 years$4,083$2,818$1,900$1,256$818$300
34 years$3,920$2,671$1,775$1,156$741$262
35 years$3,766$2,534$1,660$1,064$671$228
36 years$3,621$2,405$1,553$980$608$199
37 years$3,484$2,284$1,453$903$551$174
38 years$3,355$2,171$1,361$832$499$152
39 years$3,233$2,064$1,275$767$453$132
40 years$3,117$1,964$1,195$708$411$115
41 years$3,007$1,869$1,121$653$373$101
42 years$2,903$1,780$1,051$603$338$88
43 years$2,803$1,696$986$556$307$77
44 years$2,709$1,617$926$514$279$67
45 years$2,619$1,542$869$474$253$59
46 years$2,533$1,471$817$438$230$51
47 years$2,451$1,404$767$405$209$45
48 years$2,373$1,340$721$374$189$39
49 years$2,298$1,280$678$346$172$34
50 years$2,226$1,222$637$320$156$30

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 $3,655 every year, while hoping to spend $43,356 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: 59/29/12 Blend
59$2,280,000$2,280,000$2,280,000$2,280,000
60$2,516,330$2,395,490$2,360,150$2,657,210
61$2,726,865$2,466,739$2,393,085$2,823,767
62$2,957,422$2,540,025$2,425,669$3,000,120
63$3,209,997$2,615,404$2,457,847$3,191,378
64$3,486,788$2,692,930$2,489,556$3,398,981
65$3,790,217$2,772,661$2,520,733$3,624,510
66$4,122,951$2,854,653$2,551,309$3,869,711
67$4,487,926$2,938,965$2,581,213$4,136,501
68$4,888,379$3,025,659$2,610,368$4,426,994
69$5,327,873$3,114,796$2,638,694$4,743,515
70$5,810,333$3,206,437$2,666,107$5,088,625
71$6,340,082$3,300,648$2,692,518$5,465,143
72$6,921,885$3,397,494$2,717,831$5,876,176
73$7,560,988$3,497,042$2,741,949$6,325,143
74$8,263,171$3,599,359$2,764,766$6,815,809
75$9,034,801$3,704,515$2,786,174$7,352,323
76$9,882,895$3,812,581$2,806,055$7,939,253
77$10,815,181$3,923,627$2,824,288$8,581,630
78$11,840,173$4,037,729$2,840,745$9,284,999
79$12,967,252$4,154,959$2,855,292$10,055,463
80$14,206,754$4,275,394$2,867,786$10,899,748
81$15,570,066$4,399,111$2,878,079$11,825,264
82$17,069,733$4,526,188$2,886,016$12,840,172
83$18,719,580$4,656,705$2,891,431$13,953,464
84$20,534,836$4,790,743$2,894,153$15,175,046
85$22,532,282$4,928,382$2,894,000$16,515,830
86$24,730,409$5,069,707$2,890,784$17,987,842
87$27,149,590$5,214,802$2,884,304$19,604,328
88$29,812,273$5,363,752$2,874,353$21,379,885
89$32,743,192$5,516,644$2,860,711$23,330,592
90$35,969,603$5,673,564$2,843,150$25,474,170
91$39,521,535$5,834,601$2,821,428$27,830,140
92$43,432,080$5,999,845$2,795,294$30,420,015
93$47,737,699$6,169,385$2,764,484$33,267,495
94$52,478,572$6,343,312$2,728,721$36,398,699
95$57,698,970$6,521,718$2,687,717$39,842,402
96$63,447,678$6,704,695$2,641,168$43,630,314
97$69,778,451$6,892,335$2,588,757$47,797,375
98$76,750,525$7,084,731$2,530,153$52,382,087
99$84,429,172$7,281,977$2,465,007$57,426,874
100$92,886,320$7,484,166$2,392,957$62,978,485