Can I retire at age 60 with 2,310,000?

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 $2,310,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$190,758$189,058$187,401$185,783$184,203$181,750
2 years$94,434$92,676$90,971$89,319$87,716$85,249
3 years$62,331$60,565$58,864$57,227$55,650$53,246
4 years$46,282$44,521$42,838$41,229$39,690$37,366
5 years$36,656$34,905$33,244$31,668$30,172$27,936
6 years$30,240$28,503$26,866$25,325$23,874$21,728
7 years$25,659$23,937$22,326$20,821$19,416$17,361
8 years$22,225$20,518$18,934$17,466$16,107$14,143
9 years$19,556$17,865$16,308$14,877$13,565$11,690
10 years$17,421$15,747$14,218$12,824$11,558$9,772
11 years$15,676$14,019$12,517$11,161$9,940$8,241
12 years$14,223$12,582$11,109$9,790$8,614$7,000
13 years$12,994$11,371$9,925$8,643$7,512$5,980
14 years$11,942$10,336$8,917$7,672$6,585$5,133
15 years$11,031$9,442$8,051$6,842$5,798$4,424
16 years$10,234$8,663$7,300$6,127$5,124$3,826
17 years$9,532$7,978$6,642$5,505$4,543$3,318
18 years$8,909$7,372$6,064$4,961$4,040$2,885
19 years$8,352$6,832$5,551$4,482$3,601$2,513
20 years$7,851$6,349$5,094$4,060$3,216$2,193
21 years$7,398$5,914$4,686$3,684$2,878$1,917
22 years$6,988$5,520$4,319$3,350$2,580$1,678
23 years$6,613$5,163$3,988$3,051$2,316$1,470
24 years$6,270$4,837$3,688$2,783$2,081$1,290
25 years$5,956$4,540$3,416$2,541$1,873$1,132
26 years$5,665$4,267$3,168$2,324$1,687$995
27 years$5,397$4,015$2,942$2,127$1,521$874
28 years$5,148$3,784$2,735$1,949$1,372$769
29 years$4,917$3,569$2,545$1,787$1,239$677
30 years$4,702$3,371$2,370$1,640$1,120$596
31 years$4,501$3,187$2,210$1,506$1,012$525
32 years$4,313$3,015$2,062$1,384$916$463
33 years$4,137$2,855$1,925$1,273$829$408
34 years$3,971$2,706$1,799$1,171$750$360
35 years$3,816$2,567$1,682$1,078$680$317
36 years$3,669$2,436$1,573$993$616$280
37 years$3,530$2,314$1,472$915$558$247
38 years$3,399$2,199$1,379$843$506$218
39 years$3,276$2,091$1,292$778$459$192
40 years$3,158$1,990$1,211$717$416$170
41 years$3,047$1,894$1,135$662$378$150
42 years$2,941$1,804$1,065$611$343$132
43 years$2,840$1,719$999$564$311$117
44 years$2,745$1,638$938$520$282$103
45 years$2,653$1,562$881$481$256$91
46 years$2,566$1,490$827$444$233$80
47 years$2,483$1,422$777$410$211$71
48 years$2,404$1,358$730$379$192$63
49 years$2,328$1,296$687$350$174$55
50 years$2,255$1,238$645$324$158$49

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,310,000, adding $5,830 every year, while hoping to spend $43,008 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: 79/7/14 Blend
59$2,310,000$2,310,000$2,310,000$2,310,000
60$2,551,634$2,429,204$2,393,399$2,745,545
61$2,766,140$2,502,474$2,427,817$2,947,243
62$3,001,085$2,577,894$2,461,948$3,162,385
63$3,258,507$2,655,522$2,495,734$3,397,212
64$3,540,652$2,735,421$2,529,119$3,653,676
65$3,849,995$2,817,652$2,562,041$3,933,925
66$4,189,258$2,902,281$2,594,433$4,240,327
67$4,561,443$2,989,374$2,626,227$4,575,489
68$4,969,855$3,078,998$2,657,350$4,942,282
69$5,418,134$3,171,222$2,687,725$5,343,871
70$5,910,290$3,266,118$2,717,270$5,783,739
71$6,450,740$3,363,759$2,745,899$6,265,725
72$7,044,351$3,464,218$2,773,522$6,794,058
73$7,696,482$3,567,572$2,800,043$7,373,397
74$8,413,039$3,673,899$2,825,360$8,008,874
75$9,200,528$3,783,279$2,849,369$8,706,143
76$10,066,116$3,895,794$2,871,957$9,471,434
77$11,017,699$4,011,526$2,893,006$10,311,610
78$12,063,975$4,130,562$2,912,392$11,234,233
79$13,214,529$4,252,988$2,929,986$12,247,635
80$14,479,920$4,378,894$2,945,650$13,360,994
81$15,871,784$4,508,371$2,959,241$14,584,427
82$17,402,936$4,641,513$2,970,606$15,929,077
83$19,087,502$4,778,413$2,979,588$17,407,223
84$20,941,042$4,919,169$2,986,018$19,032,397
85$22,980,701$5,063,882$2,989,723$20,819,506
86$25,225,370$5,212,650$2,990,517$22,784,979
87$27,695,867$5,365,579$2,988,208$24,946,917
88$30,415,125$5,522,772$2,982,593$27,325,266
89$33,408,418$5,684,338$2,973,459$29,942,004
90$36,703,591$5,850,385$2,960,585$32,821,351
91$40,331,329$6,021,025$2,943,736$35,989,993
92$44,325,441$6,196,372$2,922,668$39,477,339
93$48,723,183$6,376,541$2,897,124$43,315,793
94$53,565,605$6,561,649$2,866,835$47,541,064
95$58,897,944$6,751,817$2,831,521$52,192,501
96$64,770,043$6,947,164$2,790,885$57,313,465
97$71,236,828$7,147,816$2,744,621$62,951,738
98$78,358,823$7,353,898$2,692,404$69,159,972
99$86,202,720$7,565,536$2,633,897$75,996,190
100$94,842,011$7,782,861$2,568,746$83,524,331