Can I retire at age 60 with 2,360,000?

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 $2,360,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$194,887$193,151$191,457$189,804$188,190$181,585
2 years$96,479$94,682$92,940$91,252$89,614$83,029
3 years$63,680$61,876$60,139$58,466$56,855$50,497
4 years$47,284$45,485$43,765$42,121$40,549$34,467
5 years$37,449$35,661$33,964$32,353$30,825$25,034
6 years$30,895$29,120$27,448$25,873$24,391$18,895
7 years$26,215$24,455$22,809$21,272$19,836$14,636
8 years$22,706$20,962$19,344$17,844$16,456$11,546
9 years$19,979$18,251$16,661$15,199$13,858$9,232
10 years$17,798$16,088$14,525$13,102$11,808$7,458
11 years$16,015$14,322$12,788$11,403$10,155$6,073
12 years$14,531$12,855$11,349$10,002$8,800$4,976
13 years$13,275$11,617$10,140$8,830$7,674$4,098
14 years$12,200$10,559$9,110$7,838$6,727$3,388
15 years$11,269$9,646$8,226$6,990$5,923$2,810
16 years$10,456$8,850$7,458$6,259$5,235$2,337
17 years$9,738$8,151$6,786$5,624$4,642$1,948
18 years$9,102$7,532$6,195$5,068$4,127$1,626
19 years$8,532$6,980$5,671$4,580$3,679$1,360
20 years$8,021$6,486$5,205$4,148$3,286$1,138
21 years$7,559$6,042$4,787$3,764$2,940$954
22 years$7,139$5,640$4,412$3,423$2,636$800
23 years$6,756$5,275$4,074$3,117$2,366$672
24 years$6,406$4,942$3,768$2,843$2,127$564
25 years$6,084$4,638$3,490$2,596$1,914$474
26 years$5,788$4,359$3,236$2,374$1,724$398
27 years$5,514$4,102$3,005$2,173$1,554$335
28 years$5,260$3,866$2,794$1,991$1,402$282
29 years$5,024$3,647$2,600$1,826$1,266$237
30 years$4,804$3,444$2,422$1,675$1,144$200
31 years$4,599$3,256$2,258$1,539$1,034$168
32 years$4,407$3,080$2,106$1,414$936$141
33 years$4,226$2,917$1,967$1,300$847$119
34 years$4,057$2,765$1,838$1,197$767$100
35 years$3,898$2,622$1,718$1,101$694$84
36 years$3,748$2,489$1,607$1,014$629$71
37 years$3,607$2,364$1,504$935$570$60
38 years$3,473$2,247$1,409$862$517$50
39 years$3,346$2,136$1,320$794$469$42
40 years$3,226$2,033$1,237$733$425$36
41 years$3,113$1,935$1,160$676$386$30
42 years$3,005$1,843$1,088$624$350$25
43 years$2,902$1,756$1,021$576$318$21
44 years$2,804$1,674$958$532$288$18
45 years$2,711$1,596$900$491$262$15
46 years$2,622$1,522$845$454$238$13
47 years$2,537$1,453$794$419$216$11
48 years$2,456$1,387$746$387$196$9
49 years$2,378$1,324$701$358$178$8
50 years$2,304$1,265$659$331$162$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,360,000, adding $2,150 every year, while hoping to spend $56,419 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: 43/50/7 Blend
59$2,360,000$2,360,000$2,360,000$2,360,000
60$2,602,938$2,477,858$2,441,278$2,709,522
61$2,808,408$2,539,243$2,463,031$2,845,058
62$3,032,945$2,601,746$2,483,622$2,985,863
63$3,278,435$2,665,361$2,502,953$3,137,093
64$3,546,953$2,730,081$2,520,919$3,299,720
65$3,840,784$2,795,897$2,537,412$3,474,816
66$4,162,445$2,862,797$2,552,316$3,663,557
67$4,514,708$2,930,767$2,565,512$3,867,241
68$4,900,623$2,999,790$2,576,872$4,087,297
69$5,323,553$3,069,846$2,586,264$4,325,296
70$5,787,198$3,140,911$2,593,546$4,582,971
71$6,295,635$3,212,959$2,598,573$4,862,228
72$6,853,354$3,285,958$2,601,190$5,165,169
73$7,465,301$3,359,875$2,601,234$5,494,106
74$8,136,923$3,434,670$2,598,537$5,851,590
75$8,874,221$3,510,300$2,592,919$6,240,427
76$9,683,803$3,586,717$2,584,194$6,663,712
77$10,572,952$3,663,867$2,572,166$7,124,852
78$11,549,689$3,741,692$2,556,629$7,627,603
79$12,622,849$3,820,127$2,537,367$8,176,103
80$13,802,166$3,899,100$2,514,156$8,774,910
81$15,098,366$3,978,534$2,486,759$9,429,050
82$16,523,261$4,058,345$2,454,928$10,144,057
83$18,089,869$4,138,439$2,418,403$10,926,033
84$19,812,530$4,218,717$2,376,914$11,781,702
85$21,707,044$4,299,069$2,330,176$12,718,473
86$23,790,817$4,379,379$2,277,892$13,744,511
87$26,083,030$4,459,517$2,219,750$14,868,815
88$28,604,812$4,539,347$2,155,426$16,101,304
89$31,379,449$4,618,721$2,084,578$17,452,908
90$34,432,591$4,697,477$2,006,850$18,935,673
91$37,792,506$4,775,444$1,921,870$20,562,877
92$41,490,338$4,852,437$1,829,249$22,349,153
93$45,560,404$4,928,257$1,728,580$24,310,628
94$50,040,514$5,002,691$1,619,436$26,465,079
95$54,972,333$5,075,510$1,501,374$28,832,095
96$60,401,771$5,146,469$1,373,930$31,433,270
97$66,379,412$5,215,307$1,236,617$34,292,402
98$72,960,997$5,281,742$1,088,929$37,435,722
99$80,207,947$5,345,475$930,336$40,892,137
100$88,187,941$5,406,187$760,286$44,693,513