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%18.4%
1 years$194,887$193,151$191,457$189,804$188,190$181,802
2 years$96,479$94,682$92,940$91,252$89,614$83,243
3 years$63,680$61,876$60,139$58,466$56,855$50,700
4 years$47,284$45,485$43,765$42,121$40,549$34,658
5 years$37,449$35,661$33,964$32,353$30,825$25,212
6 years$30,895$29,120$27,448$25,873$24,391$19,062
7 years$26,215$24,455$22,809$21,272$19,836$14,790
8 years$22,706$20,962$19,344$17,844$16,456$11,688
9 years$19,979$18,251$16,661$15,199$13,858$9,363
10 years$17,798$16,088$14,525$13,102$11,808$7,579
11 years$16,015$14,322$12,788$11,403$10,155$6,183
12 years$14,531$12,855$11,349$10,002$8,800$5,076
13 years$13,275$11,617$10,140$8,830$7,674$4,189
14 years$12,200$10,559$9,110$7,838$6,727$3,470
15 years$11,269$9,646$8,226$6,990$5,923$2,884
16 years$10,456$8,850$7,458$6,259$5,235$2,404
17 years$9,738$8,151$6,786$5,624$4,642$2,008
18 years$9,102$7,532$6,195$5,068$4,127$1,680
19 years$8,532$6,980$5,671$4,580$3,679$1,408
20 years$8,021$6,486$5,205$4,148$3,286$1,182
21 years$7,559$6,042$4,787$3,764$2,940$992
22 years$7,139$5,640$4,412$3,423$2,636$834
23 years$6,756$5,275$4,074$3,117$2,366$702
24 years$6,406$4,942$3,768$2,843$2,127$591
25 years$6,084$4,638$3,490$2,596$1,914$498
26 years$5,788$4,359$3,236$2,374$1,724$419
27 years$5,514$4,102$3,005$2,173$1,554$354
28 years$5,260$3,866$2,794$1,991$1,402$298
29 years$5,024$3,647$2,600$1,826$1,266$251
30 years$4,804$3,444$2,422$1,675$1,144$212
31 years$4,599$3,256$2,258$1,539$1,034$179
32 years$4,407$3,080$2,106$1,414$936$151
33 years$4,226$2,917$1,967$1,300$847$127
34 years$4,057$2,765$1,838$1,197$767$108
35 years$3,898$2,622$1,718$1,101$694$91
36 years$3,748$2,489$1,607$1,014$629$77
37 years$3,607$2,364$1,504$935$570$65
38 years$3,473$2,247$1,409$862$517$55
39 years$3,346$2,136$1,320$794$469$46
40 years$3,226$2,033$1,237$733$425$39
41 years$3,113$1,935$1,160$676$386$33
42 years$3,005$1,843$1,088$624$350$28
43 years$2,902$1,756$1,021$576$318$23
44 years$2,804$1,674$958$532$288$20
45 years$2,711$1,596$900$491$262$17
46 years$2,622$1,522$845$454$238$14
47 years$2,537$1,453$794$419$216$12
48 years$2,456$1,387$746$387$196$10
49 years$2,378$1,324$701$358$178$9
50 years$2,304$1,265$659$331$162$7

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 $6,028 every year, while hoping to spend $56,233 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: 39/34/27 Blend
59$2,360,000$2,360,000$2,360,000$2,360,000
60$2,606,938$2,481,858$2,445,278$2,687,525
61$2,813,014$2,543,637$2,467,363$2,808,614
62$3,038,225$2,606,560$2,488,304$2,933,814
63$3,284,464$2,670,621$2,508,002$3,068,115
64$3,553,814$2,735,816$2,526,354$3,212,381
65$3,848,569$2,802,137$2,543,253$3,367,566
66$4,171,255$2,869,574$2,558,584$3,534,720
67$4,524,655$2,938,114$2,572,229$3,715,001
68$4,911,831$3,007,743$2,584,060$3,909,686
69$5,336,158$3,078,442$2,593,945$4,120,180
70$5,801,350$3,150,190$2,601,747$4,348,035
71$6,311,501$3,222,963$2,607,318$4,594,960
72$6,871,116$3,296,731$2,610,506$4,862,840
73$7,485,162$3,371,462$2,611,150$5,153,752
74$8,159,106$3,447,121$2,609,081$5,469,986
75$8,898,972$3,523,667$2,604,122$5,814,067
76$9,711,394$3,601,054$2,596,087$6,188,779
77$10,603,683$3,679,232$2,584,783$6,597,192
78$11,583,889$3,758,145$2,570,003$7,042,689
79$12,660,883$3,837,732$2,551,536$7,529,000
80$13,844,437$3,917,924$2,529,156$8,060,240
81$15,145,316$3,998,649$2,502,629$8,640,944
82$16,575,380$4,079,824$2,471,709$9,276,110
83$18,147,696$4,161,363$2,436,138$9,971,252
84$19,876,659$4,243,168$2,395,647$10,732,448
85$21,778,130$4,325,135$2,349,953$11,566,398
86$23,869,584$4,407,151$2,298,762$12,480,490
87$26,170,274$4,489,094$2,241,762$13,482,869
88$28,701,413$4,570,831$2,178,632$14,582,514
89$31,486,374$4,652,218$2,109,033$15,789,326
90$34,550,910$4,733,102$2,032,612$17,114,219
91$37,923,395$4,813,317$1,948,997$18,569,227
92$41,635,095$4,892,683$1,857,802$20,167,613
93$45,720,459$4,971,009$1,758,623$21,924,004
94$50,217,446$5,048,089$1,651,037$23,854,522
95$55,167,881$5,123,700$1,534,602$25,976,940
96$60,617,850$5,197,607$1,408,856$28,310,853
97$66,618,135$5,269,555$1,273,317$30,877,861
98$73,224,694$5,339,271$1,127,482$33,701,775
99$80,499,184$5,406,467$970,824$36,808,846
100$88,509,547$5,470,831$802,793$40,228,008