Can I retire at age 60 with 2,340,000?

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 $2,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$193,235$191,514$189,834$188,195$186,595$184,187
2 years$95,661$93,879$92,153$90,479$88,855$86,432
3 years$63,140$61,351$59,629$57,970$56,373$54,011
4 years$46,883$45,100$43,395$41,764$40,206$37,923
5 years$37,132$35,359$33,676$32,079$30,564$28,366
6 years$30,633$28,873$27,215$25,654$24,184$22,075
7 years$25,992$24,247$22,616$21,092$19,668$17,648
8 years$22,514$20,785$19,180$17,693$16,317$14,385
9 years$19,810$18,097$16,520$15,071$13,741$11,897
10 years$17,647$15,951$14,402$12,991$11,708$9,951
11 years$15,880$14,201$12,680$11,306$10,069$8,397
12 years$14,408$12,746$11,253$9,917$8,726$7,137
13 years$13,163$11,518$10,054$8,755$7,609$6,101
14 years$12,097$10,470$9,033$7,772$6,670$5,241
15 years$11,174$9,564$8,156$6,931$5,873$4,520
16 years$10,367$8,775$7,394$6,206$5,190$3,912
17 years$9,656$8,082$6,729$5,576$4,602$3,395
18 years$9,024$7,468$6,142$5,025$4,092$2,954
19 years$8,460$6,921$5,623$4,541$3,647$2,575
20 years$7,953$6,431$5,161$4,112$3,258$2,249
21 years$7,495$5,991$4,747$3,732$2,915$1,967
22 years$7,078$5,592$4,375$3,394$2,613$1,723
23 years$6,699$5,230$4,039$3,091$2,346$1,511
24 years$6,352$4,900$3,736$2,819$2,108$1,326
25 years$6,033$4,599$3,460$2,574$1,897$1,165
26 years$5,739$4,322$3,209$2,354$1,709$1,025
27 years$5,467$4,067$2,980$2,154$1,541$902
28 years$5,215$3,833$2,770$1,974$1,390$794
29 years$4,981$3,616$2,578$1,810$1,255$699
30 years$4,763$3,415$2,401$1,661$1,134$616
31 years$4,560$3,228$2,239$1,526$1,026$543
32 years$4,369$3,054$2,089$1,402$928$479
33 years$4,191$2,893$1,950$1,289$840$422
34 years$4,023$2,741$1,822$1,186$760$373
35 years$3,865$2,600$1,704$1,092$688$329
36 years$3,716$2,468$1,594$1,006$624$290
37 years$3,576$2,344$1,492$927$565$256
38 years$3,444$2,228$1,397$854$513$226
39 years$3,318$2,118$1,309$788$465$200
40 years$3,199$2,015$1,227$726$422$177
41 years$3,086$1,918$1,150$670$382$156
42 years$2,979$1,827$1,079$619$347$138
43 years$2,877$1,741$1,012$571$315$122
44 years$2,780$1,659$950$527$286$108
45 years$2,688$1,582$892$487$260$95
46 years$2,600$1,510$838$450$236$84
47 years$2,516$1,441$787$416$214$74
48 years$2,435$1,375$740$384$194$66
49 years$2,358$1,313$695$355$177$58
50 years$2,285$1,254$654$328$160$51

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,340,000, adding $4,800 every year, while hoping to spend $50,548 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: 61/11/28 Blend
59$2,340,000$2,340,000$2,340,000$2,340,000
60$2,583,631$2,459,611$2,423,341$2,721,468
61$2,793,379$2,526,349$2,450,740$2,882,617
62$3,022,827$2,594,664$2,477,363$3,052,573
63$3,273,931$2,664,578$2,503,131$3,237,029
64$3,548,845$2,736,115$2,527,959$3,437,410
65$3,849,941$2,809,299$2,551,759$3,655,288
66$4,179,830$2,884,150$2,574,439$3,892,394
67$4,541,391$2,960,691$2,595,900$4,150,637
68$4,937,789$3,038,942$2,616,039$4,432,118
69$5,372,516$3,118,922$2,634,749$4,739,155
70$5,849,413$3,200,650$2,651,913$5,074,300
71$6,372,714$3,284,142$2,667,414$5,440,365
72$6,947,082$3,369,416$2,681,123$5,840,452
73$7,577,652$3,456,486$2,692,908$6,277,975
74$8,270,082$3,545,363$2,702,631$6,756,698
75$9,030,605$3,636,061$2,710,143$7,280,772
76$9,866,086$3,728,587$2,715,292$7,854,767
77$10,784,088$3,822,949$2,717,916$8,483,722
78$11,792,944$3,919,152$2,717,845$9,173,189
79$12,901,833$4,017,199$2,714,901$9,929,289
80$14,120,868$4,117,090$2,708,898$10,758,766
81$15,461,190$4,218,821$2,699,640$11,669,052
82$16,935,075$4,322,387$2,686,922$12,668,340
83$18,556,047$4,427,778$2,670,528$13,765,656
84$20,339,006$4,534,981$2,650,233$14,970,952
85$22,300,369$4,643,980$2,625,800$16,295,194
86$24,458,226$4,754,754$2,596,983$17,750,465
87$26,832,505$4,867,277$2,563,522$19,350,088
88$29,445,166$4,981,519$2,525,146$21,108,740
89$32,320,404$5,097,445$2,481,570$23,042,601
90$35,484,880$5,215,014$2,432,497$25,169,501
91$38,967,967$5,334,180$2,377,615$27,509,092
92$42,802,034$5,454,889$2,316,600$30,083,031
93$47,022,745$5,577,082$2,249,109$32,915,187
94$51,669,398$5,700,691$2,174,787$36,031,868
95$56,785,294$5,825,643$2,093,260$39,462,065
96$62,418,149$5,951,855$2,004,139$43,237,731
97$68,620,539$6,079,235$1,907,017$47,394,081
98$75,450,399$6,207,682$1,801,467$51,969,925
99$82,971,567$6,337,085$1,687,043$57,008,035
100$91,254,389$6,467,325$1,563,281$62,555,552