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%12.2%
1 years$189,932$188,240$186,589$184,978$183,405$181,717
2 years$94,026$92,275$90,577$88,932$87,336$85,635
3 years$62,061$60,302$58,610$56,980$55,409$53,748
4 years$46,082$44,329$42,653$41,051$39,518$37,910
5 years$36,497$34,754$33,100$31,531$30,041$28,491
6 years$30,109$28,379$26,750$25,215$23,771$22,279
7 years$25,548$23,833$22,229$20,731$19,332$17,901
8 years$22,129$20,429$18,852$17,391$16,038$14,667
9 years$19,471$17,787$16,237$14,813$13,506$12,195
10 years$17,346$15,679$14,156$12,769$11,508$10,255
11 years$15,608$13,958$12,463$11,113$9,897$8,702
12 years$14,161$12,528$11,060$9,747$8,577$7,439
13 years$12,938$11,321$9,882$8,606$7,479$6,396
14 years$11,890$10,291$8,879$7,639$6,556$5,528
15 years$10,983$9,401$8,016$6,813$5,772$4,796
16 years$10,190$8,625$7,268$6,100$5,102$4,177
17 years$9,491$7,943$6,614$5,481$4,524$3,648
18 years$8,870$7,340$6,037$4,939$4,022$3,194
19 years$8,316$6,803$5,527$4,463$3,585$2,803
20 years$7,817$6,321$5,072$4,042$3,202$2,464
21 years$7,366$5,888$4,666$3,669$2,866$2,170
22 years$6,957$5,496$4,300$3,336$2,569$1,914
23 years$6,585$5,141$3,970$3,038$2,306$1,690
24 years$6,243$4,816$3,672$2,771$2,072$1,494
25 years$5,930$4,520$3,401$2,530$1,865$1,322
26 years$5,641$4,248$3,154$2,314$1,680$1,170
27 years$5,374$3,998$2,929$2,118$1,514$1,037
28 years$5,126$3,767$2,723$1,940$1,367$920
29 years$4,896$3,554$2,534$1,779$1,234$816
30 years$4,682$3,356$2,360$1,633$1,115$724
31 years$4,482$3,173$2,200$1,500$1,008$643
32 years$4,294$3,002$2,053$1,378$912$572
33 years$4,119$2,843$1,917$1,267$825$508
34 years$3,954$2,695$1,791$1,166$747$452
35 years$3,799$2,556$1,674$1,073$677$402
36 years$3,653$2,426$1,566$989$613$357
37 years$3,515$2,304$1,466$911$556$318
38 years$3,385$2,190$1,373$840$504$283
39 years$3,261$2,082$1,286$774$457$252
40 years$3,144$1,981$1,206$714$414$224
41 years$3,034$1,886$1,131$659$376$199
42 years$2,928$1,796$1,060$608$341$178
43 years$2,828$1,711$995$561$310$158
44 years$2,733$1,631$934$518$281$141
45 years$2,642$1,555$877$479$255$125
46 years$2,555$1,484$824$442$232$112
47 years$2,473$1,416$774$408$210$100
48 years$2,393$1,352$727$377$191$89
49 years$2,318$1,291$684$349$173$79
50 years$2,246$1,233$643$322$158$70

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 $4,742 every year, while hoping to spend $39,259 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: 23/47/30 Blend
59$2,300,000$2,300,000$2,300,000$2,300,000
60$2,539,491$2,417,591$2,381,941$2,573,849
61$2,756,748$2,494,282$2,419,965$2,681,153
62$2,994,849$2,573,415$2,457,947$2,792,368
63$3,255,880$2,655,068$2,495,844$2,910,613
64$3,542,135$2,739,322$2,533,610$3,036,495
65$3,856,145$2,826,260$2,571,198$3,170,683
66$4,200,693$2,915,969$2,608,555$3,313,908
67$4,578,850$3,008,537$2,645,627$3,466,976
68$4,993,993$3,104,056$2,682,356$3,630,769
69$5,449,846$3,202,620$2,718,681$3,806,260
70$5,950,510$3,304,328$2,754,536$3,994,515
71$6,500,502$3,409,280$2,789,853$4,196,709
72$7,104,799$3,517,581$2,824,559$4,414,132
73$7,768,883$3,629,337$2,858,577$4,648,202
74$8,498,795$3,744,661$2,891,825$4,900,480
75$9,301,189$3,863,666$2,924,218$5,172,682
76$10,183,396$3,986,471$2,955,665$5,466,698
77$11,153,492$4,113,198$2,986,070$5,784,604
78$12,220,378$4,243,974$3,015,332$6,128,689
79$13,393,856$4,378,929$3,043,346$6,501,467
80$14,684,730$4,518,197$3,069,998$6,905,708
81$16,104,900$4,661,917$3,095,171$7,344,462
82$17,667,482$4,810,232$3,118,741$7,821,084
83$19,386,923$4,963,292$3,140,577$8,339,270
84$21,279,144$5,121,248$3,160,541$8,903,086
85$23,361,686$5,284,258$3,178,489$9,517,013
86$25,653,878$5,452,487$3,194,268$10,185,983
87$28,177,016$5,626,101$3,207,719$10,915,426
88$30,954,568$5,805,276$3,218,673$11,711,326
89$34,012,389$5,990,190$3,226,954$12,580,269
90$37,378,973$6,181,030$3,232,377$13,529,512
91$41,085,714$6,377,986$3,234,748$14,567,045
92$45,167,206$6,581,257$3,233,861$15,701,673
93$49,661,570$6,791,046$3,229,503$16,943,090
94$54,610,808$7,007,566$3,221,450$18,301,978
95$60,061,207$7,231,033$3,209,465$19,790,104
96$66,063,770$7,461,673$3,193,302$21,420,428
97$72,674,698$7,699,719$3,172,701$23,207,230
98$79,955,922$7,945,410$3,147,391$25,166,243
99$87,975,686$8,198,995$3,117,089$27,314,796
100$96,809,190$8,460,730$3,081,495$29,671,985