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%15.5%
1 years$194,887$193,151$191,457$189,804$188,190$183,939
2 years$96,479$94,682$92,940$91,252$89,614$85,355
3 years$63,680$61,876$60,139$58,466$56,855$52,719
4 years$47,284$45,485$43,765$42,121$40,549$36,570
5 years$37,449$35,661$33,964$32,353$30,825$27,012
6 years$30,895$29,120$27,448$25,873$24,391$20,749
7 years$26,215$24,455$22,809$21,272$19,836$16,366
8 years$22,706$20,962$19,344$17,844$16,456$13,156
9 years$19,979$18,251$16,661$15,199$13,858$10,727
10 years$17,798$16,088$14,525$13,102$11,808$8,841
11 years$16,015$14,322$12,788$11,403$10,155$7,348
12 years$14,531$12,855$11,349$10,002$8,800$6,150
13 years$13,275$11,617$10,140$8,830$7,674$5,175
14 years$12,200$10,559$9,110$7,838$6,727$4,374
15 years$11,269$9,646$8,226$6,990$5,923$3,710
16 years$10,456$8,850$7,458$6,259$5,235$3,157
17 years$9,738$8,151$6,786$5,624$4,642$2,694
18 years$9,102$7,532$6,195$5,068$4,127$2,303
19 years$8,532$6,980$5,671$4,580$3,679$1,972
20 years$8,021$6,486$5,205$4,148$3,286$1,692
21 years$7,559$6,042$4,787$3,764$2,940$1,453
22 years$7,139$5,640$4,412$3,423$2,636$1,250
23 years$6,756$5,275$4,074$3,117$2,366$1,076
24 years$6,406$4,942$3,768$2,843$2,127$927
25 years$6,084$4,638$3,490$2,596$1,914$799
26 years$5,788$4,359$3,236$2,374$1,724$689
27 years$5,514$4,102$3,005$2,173$1,554$595
28 years$5,260$3,866$2,794$1,991$1,402$513
29 years$5,024$3,647$2,600$1,826$1,266$443
30 years$4,804$3,444$2,422$1,675$1,144$383
31 years$4,599$3,256$2,258$1,539$1,034$331
32 years$4,407$3,080$2,106$1,414$936$286
33 years$4,226$2,917$1,967$1,300$847$247
34 years$4,057$2,765$1,838$1,197$767$214
35 years$3,898$2,622$1,718$1,101$694$185
36 years$3,748$2,489$1,607$1,014$629$160
37 years$3,607$2,364$1,504$935$570$139
38 years$3,473$2,247$1,409$862$517$120
39 years$3,346$2,136$1,320$794$469$104
40 years$3,226$2,033$1,237$733$425$90
41 years$3,113$1,935$1,160$676$386$78
42 years$3,005$1,843$1,088$624$350$67
43 years$2,902$1,756$1,021$576$318$58
44 years$2,804$1,674$958$532$288$50
45 years$2,711$1,596$900$491$262$44
46 years$2,622$1,522$845$454$238$38
47 years$2,537$1,453$794$419$216$33
48 years$2,456$1,387$746$387$196$28
49 years$2,378$1,324$701$358$178$24
50 years$2,304$1,265$659$331$162$21

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 $3,264 every year, while hoping to spend $56,399 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: 48/36/16 Blend
59$2,360,000$2,360,000$2,360,000$2,360,000
60$2,604,087$2,479,007$2,442,427$2,717,267
61$2,809,696$2,540,470$2,464,240$2,857,405
62$3,034,386$2,603,055$2,484,894$3,003,443
63$3,280,045$2,666,756$2,504,289$3,160,790
64$3,548,751$2,731,568$2,522,324$3,330,527
65$3,842,789$2,797,481$2,538,888$3,513,841
66$4,164,680$2,864,484$2,553,867$3,712,043
67$4,517,196$2,932,562$2,567,140$3,926,572
68$4,903,392$3,001,700$2,578,581$4,159,019
69$5,326,631$3,071,876$2,588,057$4,411,134
70$5,790,619$3,143,069$2,595,428$4,684,843
71$6,299,434$3,215,251$2,600,546$4,982,271
72$6,857,570$3,288,393$2,603,259$5,305,758
73$7,469,978$3,362,460$2,603,404$5,657,883
74$8,142,109$3,437,413$2,600,811$6,041,487
75$8,879,968$3,513,211$2,595,302$6,459,702
76$9,690,171$3,589,804$2,586,691$6,915,978
77$10,580,005$3,667,141$2,574,781$7,414,117
78$11,557,497$3,745,162$2,559,368$7,958,310
79$12,631,490$3,823,804$2,540,236$8,553,174
80$13,811,727$3,902,996$2,517,159$9,203,800
81$15,108,942$3,982,660$2,489,902$9,915,797
82$16,534,957$4,062,714$2,458,216$10,695,347
83$18,102,800$4,143,064$2,421,844$11,549,263
84$19,826,823$4,223,612$2,380,514$12,485,055
85$21,722,839$4,304,249$2,333,941$13,511,000
86$23,808,270$4,384,859$2,281,829$14,636,220
87$26,102,310$4,465,314$2,223,867$15,870,769
88$28,626,109$4,545,477$2,159,730$17,225,730
89$31,402,968$4,625,201$2,089,077$18,713,315
90$34,458,562$4,704,327$2,011,552$20,346,988
91$37,821,180$4,782,684$1,926,784$22,141,586
92$41,521,992$4,860,088$1,834,383$24,113,464
93$45,595,344$4,936,340$1,733,943$26,280,647
94$50,079,077$5,011,229$1,625,038$28,663,002
95$55,014,891$5,084,528$1,507,225$31,282,428
96$60,448,732$5,155,992$1,380,040$34,163,059
97$66,431,228$5,225,361$1,242,996$37,331,498
98$73,018,166$5,292,356$1,095,589$40,817,065
99$80,271,016$5,356,678$937,289$44,652,075
100$88,257,514$5,418,010$767,542$48,872,147