Can I retire at age 60 with 2,330,000?

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 $2,330,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$192,409$190,695$189,023$187,391$185,797$182,195
2 years$95,252$93,478$91,759$90,092$88,475$84,860
3 years$62,871$61,089$59,374$57,723$56,132$52,618
4 years$46,683$44,907$43,209$41,586$40,034$36,647
5 years$36,973$35,208$33,532$31,942$30,433$27,183
6 years$30,502$28,750$27,099$25,544$24,081$20,972
7 years$25,881$24,144$22,519$21,001$19,584$16,616
8 years$22,418$20,696$19,098$17,618$16,247$13,420
9 years$19,725$18,019$16,449$15,006$13,682$10,994
10 years$17,572$15,883$14,341$12,936$11,658$9,106
11 years$15,812$14,140$12,625$11,258$10,026$7,607
12 years$14,346$12,691$11,205$9,875$8,689$6,399
13 years$13,107$11,469$10,011$8,718$7,577$5,414
14 years$12,045$10,425$8,995$7,739$6,642$4,601
15 years$11,126$9,524$8,121$6,902$5,848$3,925
16 years$10,323$8,738$7,363$6,180$5,168$3,359
17 years$9,615$8,047$6,700$5,552$4,583$2,882
18 years$8,986$7,436$6,116$5,004$4,075$2,478
19 years$8,424$6,891$5,599$4,521$3,632$2,135
20 years$7,919$6,404$5,139$4,095$3,244$1,843
21 years$7,463$5,965$4,726$3,716$2,903$1,593
22 years$7,048$5,568$4,356$3,379$2,602$1,378
23 years$6,670$5,208$4,022$3,077$2,336$1,194
24 years$6,325$4,879$3,720$2,807$2,099$1,035
25 years$6,007$4,579$3,445$2,563$1,889$898
26 years$5,714$4,303$3,195$2,344$1,702$779
27 years$5,444$4,050$2,967$2,145$1,534$677
28 years$5,193$3,816$2,758$1,966$1,384$588
29 years$4,960$3,600$2,567$1,802$1,250$511
30 years$4,743$3,400$2,391$1,654$1,130$445
31 years$4,540$3,214$2,229$1,519$1,021$387
32 years$4,350$3,041$2,080$1,396$924$337
33 years$4,173$2,880$1,942$1,284$836$293
34 years$4,006$2,730$1,814$1,181$757$255
35 years$3,849$2,589$1,696$1,087$686$222
36 years$3,701$2,457$1,587$1,002$621$194
37 years$3,561$2,334$1,485$923$563$169
38 years$3,429$2,218$1,391$851$510$147
39 years$3,304$2,109$1,303$784$463$128
40 years$3,185$2,007$1,221$723$420$111
41 years$3,073$1,910$1,145$667$381$97
42 years$2,966$1,819$1,074$616$346$85
43 years$2,865$1,733$1,008$569$314$74
44 years$2,768$1,652$946$525$285$64
45 years$2,676$1,576$889$485$258$56
46 years$2,589$1,503$835$448$235$49
47 years$2,505$1,434$784$414$213$43
48 years$2,425$1,369$737$382$194$37
49 years$2,348$1,308$692$353$176$32
50 years$2,275$1,249$651$327$160$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,330,000, adding $2,876 every year, while hoping to spend $34,338 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: 75/14/11 Blend
59$2,330,000$2,330,000$2,330,000$2,330,000
60$2,570,627$2,447,137$2,411,022$2,757,848
61$2,796,295$2,530,511$2,455,255$2,965,075
62$3,043,831$2,616,820$2,499,820$3,187,505
63$3,315,428$2,706,171$2,544,691$3,430,307
64$3,613,504$2,798,675$2,589,840$3,695,491
65$3,940,721$2,894,449$2,635,239$3,985,272
66$4,300,010$2,993,613$2,680,856$4,302,087
67$4,694,604$3,096,293$2,726,657$4,648,622
68$5,128,059$3,202,617$2,772,606$5,027,832
69$5,604,298$3,312,721$2,818,664$5,442,974
70$6,127,637$3,426,746$2,864,790$5,897,632
71$6,702,836$3,544,836$2,910,941$6,395,755
72$7,335,136$3,667,144$2,957,068$6,941,694
73$8,030,311$3,793,825$3,003,121$7,540,237
74$8,794,725$3,925,045$3,049,047$8,196,663
75$9,635,386$4,060,971$3,094,790$8,916,782
76$10,560,019$4,201,782$3,140,288$9,706,997
77$11,577,131$4,347,660$3,185,478$10,574,361
78$12,696,098$4,498,795$3,230,292$11,526,642
79$13,927,250$4,655,386$3,274,657$12,572,400
80$15,281,969$4,817,639$3,318,497$13,721,062
81$16,772,794$4,985,768$3,361,731$14,983,016
82$18,413,543$5,159,995$3,404,273$16,369,705
83$20,219,442$5,340,551$3,446,033$17,893,736
84$22,207,265$5,527,678$3,486,915$19,568,999
85$24,395,497$5,721,626$3,526,818$21,410,797
86$26,804,506$5,922,654$3,565,636$23,435,990
87$29,456,736$6,131,034$3,603,254$25,663,155
88$32,376,915$6,347,047$3,639,555$28,112,758
89$35,592,294$6,570,986$3,674,414$30,807,350
90$39,132,898$6,803,155$3,707,697$33,771,779
91$43,031,816$7,043,871$3,739,267$37,033,421
92$47,325,505$7,293,464$3,768,976$40,622,441
93$52,054,140$7,552,278$3,796,670$44,572,078
94$57,261,991$7,820,668$3,822,188$48,918,954
95$62,997,840$8,099,007$3,845,357$53,703,423
96$69,315,442$8,387,681$3,865,999$58,969,950
97$76,274,032$8,687,092$3,883,925$64,767,531
98$83,938,884$8,997,660$3,898,937$71,150,153
99$92,381,924$9,319,819$3,910,825$78,177,306
100$101,682,415$9,654,025$3,919,373$85,914,540