Can I retire at age 60 with 2,350,000?

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 $2,350,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$194,061$192,332$190,646$189,000$187,392$183,011
2 years$96,070$94,280$92,546$90,865$89,234$84,845
3 years$63,410$61,613$59,884$58,218$56,614$52,354
4 years$47,084$45,292$43,580$41,943$40,378$36,280
5 years$37,290$35,510$33,820$32,216$30,694$26,770
6 years$30,764$28,996$27,331$25,764$24,287$20,540
7 years$26,103$24,351$22,713$21,182$19,752$16,183
8 years$22,610$20,873$19,262$17,769$16,386$12,994
9 years$19,894$18,174$16,590$15,135$13,800$10,582
10 years$17,723$16,020$14,464$13,047$11,758$8,710
11 years$15,948$14,261$12,734$11,354$10,112$7,231
12 years$14,469$12,800$11,301$9,959$8,763$6,043
13 years$13,219$11,568$10,097$8,793$7,642$5,078
14 years$12,149$10,515$9,072$7,805$6,699$4,286
15 years$11,222$9,605$8,191$6,961$5,898$3,631
16 years$10,411$8,813$7,426$6,233$5,213$3,086
17 years$9,697$8,116$6,757$5,600$4,622$2,629
18 years$9,063$7,500$6,169$5,047$4,110$2,244
19 years$8,496$6,951$5,647$4,560$3,663$1,919
20 years$7,987$6,459$5,183$4,130$3,272$1,644
21 years$7,527$6,016$4,767$3,748$2,928$1,410
22 years$7,109$5,616$4,394$3,408$2,624$1,210
23 years$6,728$5,252$4,057$3,104$2,356$1,040
24 years$6,379$4,921$3,752$2,831$2,117$895
25 years$6,059$4,618$3,475$2,585$1,905$770
26 years$5,763$4,340$3,223$2,364$1,716$663
27 years$5,491$4,085$2,993$2,164$1,547$571
28 years$5,238$3,849$2,782$1,982$1,396$493
29 years$5,003$3,631$2,589$1,818$1,261$425
30 years$4,784$3,429$2,411$1,668$1,139$366
31 years$4,579$3,242$2,248$1,532$1,030$316
32 years$4,388$3,067$2,098$1,408$932$273
33 years$4,209$2,905$1,958$1,295$843$235
34 years$4,040$2,753$1,830$1,191$763$203
35 years$3,882$2,611$1,711$1,097$691$176
36 years$3,732$2,479$1,600$1,010$626$152
37 years$3,591$2,354$1,498$931$568$131
38 years$3,458$2,237$1,403$858$515$113
39 years$3,332$2,127$1,314$791$467$98
40 years$3,213$2,024$1,232$730$423$84
41 years$3,100$1,927$1,155$673$384$73
42 years$2,992$1,835$1,084$621$349$63
43 years$2,890$1,748$1,017$573$316$54
44 years$2,792$1,666$954$529$287$47
45 years$2,699$1,589$896$489$261$41
46 years$2,611$1,516$842$452$237$35
47 years$2,526$1,447$791$417$215$30
48 years$2,446$1,381$743$386$195$26
49 years$2,368$1,319$698$356$177$23
50 years$2,294$1,260$657$329$161$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,350,000, adding $3,036 every year, while hoping to spend $48,567 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: 45/38/17 Blend
59$2,350,000$2,350,000$2,350,000$2,350,000
60$2,592,832$2,468,282$2,431,857$2,696,737
61$2,805,626$2,537,553$2,461,649$2,838,957
62$3,038,497$2,608,590$2,490,811$2,987,992
63$3,293,442$2,681,429$2,519,272$3,148,573
64$3,572,659$2,756,106$2,546,954$3,321,790
65$3,878,570$2,832,655$2,573,777$3,508,843
66$4,213,841$2,911,112$2,599,655$3,711,055
67$4,581,410$2,991,513$2,624,500$3,929,880
68$4,984,509$3,073,892$2,648,217$4,166,920
69$5,426,702$3,158,286$2,670,705$4,423,937
70$5,911,913$3,244,729$2,691,861$4,702,875
71$6,444,463$3,333,256$2,711,573$5,005,870
72$7,029,114$3,423,902$2,729,727$5,335,276
73$7,671,110$3,516,699$2,746,199$5,693,687
74$8,376,227$3,611,681$2,760,861$6,083,959
75$9,150,831$3,708,882$2,773,578$6,509,236
76$10,001,931$3,808,333$2,784,208$6,972,984
77$10,937,251$3,910,065$2,792,602$7,479,019
78$11,965,301$4,014,108$2,798,605$8,031,544
79$13,095,454$4,120,491$2,802,050$8,635,193
80$14,338,037$4,229,242$2,802,766$9,295,066
81$15,704,430$4,340,388$2,800,572$10,016,786
82$17,207,169$4,453,954$2,795,277$10,806,545
83$18,860,064$4,569,962$2,786,683$11,671,169
84$20,678,334$4,688,433$2,774,581$12,618,174
85$22,678,746$4,809,389$2,758,751$13,655,845
86$24,879,774$4,932,844$2,738,965$14,793,311
87$27,301,772$5,058,814$2,714,981$16,040,628
88$29,967,168$5,187,312$2,686,548$17,408,880
89$32,900,673$5,318,344$2,653,402$18,910,279
90$36,129,518$5,451,919$2,615,267$20,558,280
91$39,683,703$5,588,037$2,571,852$22,367,713
92$43,596,287$5,726,698$2,522,856$24,354,918
93$47,903,698$5,867,896$2,467,961$26,537,902
94$52,646,073$6,011,621$2,406,836$28,936,506
95$57,867,641$6,157,858$2,339,134$31,572,598
96$63,617,137$6,306,590$2,264,491$34,470,274
97$69,948,261$6,457,789$2,182,528$37,656,087
98$76,920,189$6,611,425$2,092,847$41,159,301
99$84,598,125$6,767,462$1,995,034$45,012,164
100$93,053,921$6,925,855$1,888,655$49,250,213