Can I retire at age 60 with 2,300,000?

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 $2,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$189,932$188,240$186,589$184,978$183,405$182,021
2 years$94,026$92,275$90,577$88,932$87,336$85,940
3 years$62,061$60,302$58,610$56,980$55,409$54,045
4 years$46,082$44,329$42,653$41,051$39,518$38,197
5 years$36,497$34,754$33,100$31,531$30,041$28,766
6 years$30,109$28,379$26,750$25,215$23,771$22,543
7 years$25,548$23,833$22,229$20,731$19,332$18,153
8 years$22,129$20,429$18,852$17,391$16,038$14,907
9 years$19,471$17,787$16,237$14,813$13,506$12,424
10 years$17,346$15,679$14,156$12,769$11,508$10,473
11 years$15,608$13,958$12,463$11,113$9,897$8,909
12 years$14,161$12,528$11,060$9,747$8,577$7,635
13 years$12,938$11,321$9,882$8,606$7,479$6,582
14 years$11,890$10,291$8,879$7,639$6,556$5,703
15 years$10,983$9,401$8,016$6,813$5,772$4,962
16 years$10,190$8,625$7,268$6,100$5,102$4,332
17 years$9,491$7,943$6,614$5,481$4,524$3,794
18 years$8,870$7,340$6,037$4,939$4,022$3,332
19 years$8,316$6,803$5,527$4,463$3,585$2,932
20 years$7,817$6,321$5,072$4,042$3,202$2,585
21 years$7,366$5,888$4,666$3,669$2,866$2,284
22 years$6,957$5,496$4,300$3,336$2,569$2,020
23 years$6,585$5,141$3,970$3,038$2,306$1,789
24 years$6,243$4,816$3,672$2,771$2,072$1,586
25 years$5,930$4,520$3,401$2,530$1,865$1,408
26 years$5,641$4,248$3,154$2,314$1,680$1,251
27 years$5,374$3,998$2,929$2,118$1,514$1,112
28 years$5,126$3,767$2,723$1,940$1,367$989
29 years$4,896$3,554$2,534$1,779$1,234$880
30 years$4,682$3,356$2,360$1,633$1,115$784
31 years$4,482$3,173$2,200$1,500$1,008$699
32 years$4,294$3,002$2,053$1,378$912$623
33 years$4,119$2,843$1,917$1,267$825$555
34 years$3,954$2,695$1,791$1,166$747$495
35 years$3,799$2,556$1,674$1,073$677$442
36 years$3,653$2,426$1,566$989$613$394
37 years$3,515$2,304$1,466$911$556$352
38 years$3,385$2,190$1,373$840$504$314
39 years$3,261$2,082$1,286$774$457$281
40 years$3,144$1,981$1,206$714$414$251
41 years$3,034$1,886$1,131$659$376$224
42 years$2,928$1,796$1,060$608$341$200
43 years$2,828$1,711$995$561$310$179
44 years$2,733$1,631$934$518$281$160
45 years$2,642$1,555$877$479$255$143
46 years$2,555$1,484$824$442$232$128
47 years$2,473$1,416$774$408$210$114
48 years$2,393$1,352$727$377$191$102
49 years$2,318$1,291$684$349$173$91
50 years$2,246$1,233$643$322$158$82

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,300,000, adding $6,189 every year, while hoping to spend $51,774 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: 36/41/23 Blend
59$2,300,000$2,300,000$2,300,000$2,300,000
60$2,540,984$2,419,084$2,383,434$2,614,625
61$2,745,077$2,482,532$2,408,192$2,732,732
62$2,968,253$2,547,354$2,432,044$2,854,931
63$3,212,402$2,613,562$2,454,905$2,985,816
64$3,479,609$2,681,168$2,476,686$3,126,195
65$3,772,166$2,750,182$2,497,292$3,276,961
66$4,092,599$2,820,613$2,516,624$3,439,098
67$4,443,690$2,892,470$2,534,577$3,613,685
68$4,828,503$2,965,757$2,551,041$3,801,917
69$5,250,410$3,040,479$2,565,901$4,005,105
70$5,713,128$3,116,639$2,579,035$4,224,695
71$6,220,750$3,194,236$2,590,315$4,462,282
72$6,777,782$3,273,270$2,599,607$4,719,621
73$7,389,191$3,353,735$2,606,769$4,998,646
74$8,060,447$3,435,626$2,611,653$5,301,491
75$8,797,573$3,518,932$2,614,104$5,630,503
76$9,607,207$3,603,642$2,613,959$5,988,272
77$10,496,662$3,689,739$2,611,045$6,377,651
78$11,473,990$3,777,205$2,605,184$6,801,786
79$12,548,065$3,866,017$2,596,187$7,264,141
80$13,728,664$3,956,148$2,583,855$7,768,537
81$15,026,556$4,047,568$2,567,982$8,319,184
82$16,453,607$4,140,240$2,548,351$8,920,723
83$18,022,888$4,234,125$2,524,734$9,578,268
84$19,748,803$4,329,178$2,496,893$10,297,458
85$21,647,220$4,425,346$2,464,578$11,084,506
86$23,735,622$4,522,575$2,427,528$11,946,263
87$26,033,274$4,620,799$2,385,469$12,890,278
88$28,561,400$4,719,950$2,338,114$13,924,874
89$31,343,386$4,819,951$2,285,164$15,059,225
90$34,404,999$4,920,716$2,226,304$16,303,442
91$37,774,631$5,022,154$2,161,208$17,668,671
92$41,483,566$5,124,162$2,089,531$19,167,198
93$45,566,274$5,226,630$2,010,914$20,812,566
94$50,060,737$5,329,437$1,924,982$22,619,701
95$55,008,805$5,432,453$1,831,343$24,605,058
96$60,456,596$5,535,536$1,729,585$26,786,774
97$66,454,924$5,638,532$1,619,281$29,184,839
98$73,059,781$5,741,275$1,499,982$31,821,291
99$80,332,867$5,843,586$1,371,220$34,720,418
100$88,342,170$5,945,272$1,232,506$37,908,993