Can I retire at age 60 with 2,370,000?

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 $2,370,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$195,712$193,969$192,268$190,608$188,987$183,305
2 years$96,887$95,083$93,334$91,639$89,994$84,317
3 years$63,950$62,138$60,393$58,714$57,096$51,602
4 years$47,484$45,678$43,951$42,300$40,721$35,453
5 years$37,608$35,812$34,108$32,490$30,956$25,927
6 years$31,025$29,243$27,564$25,983$24,494$19,710
7 years$26,326$24,558$22,906$21,362$19,920$15,380
8 years$22,802$21,051$19,426$17,920$16,526$12,227
9 years$20,064$18,329$16,732$15,264$13,917$9,855
10 years$17,874$16,156$14,587$13,158$11,858$8,026
11 years$16,083$14,383$12,842$11,451$10,198$6,591
12 years$14,592$12,909$11,397$10,044$8,838$5,447
13 years$13,332$11,666$10,183$8,867$7,707$4,525
14 years$12,252$10,604$9,149$7,872$6,756$3,775
15 years$11,317$9,687$8,260$7,020$5,948$3,160
16 years$10,500$8,888$7,489$6,286$5,257$2,653
17 years$9,780$8,185$6,815$5,648$4,661$2,232
18 years$9,140$7,564$6,221$5,090$4,145$1,882
19 years$8,569$7,010$5,695$4,599$3,694$1,589
20 years$8,055$6,514$5,227$4,165$3,300$1,344
21 years$7,591$6,067$4,808$3,780$2,953$1,137
22 years$7,169$5,664$4,431$3,437$2,647$964
23 years$6,785$5,297$4,091$3,130$2,376$817
24 years$6,433$4,963$3,784$2,855$2,136$693
25 years$6,110$4,658$3,504$2,607$1,922$589
26 years$5,813$4,377$3,250$2,384$1,731$500
27 years$5,537$4,120$3,018$2,182$1,561$425
28 years$5,282$3,882$2,806$1,999$1,408$361
29 years$5,045$3,662$2,611$1,833$1,272$307
30 years$4,824$3,458$2,432$1,683$1,149$261
31 years$4,618$3,269$2,267$1,545$1,039$222
32 years$4,425$3,094$2,115$1,420$940$189
33 years$4,244$2,930$1,975$1,306$850$161
34 years$4,074$2,777$1,845$1,202$770$137
35 years$3,915$2,634$1,725$1,106$697$117
36 years$3,764$2,500$1,614$1,019$632$99
37 years$3,622$2,374$1,511$939$573$85
38 years$3,488$2,256$1,415$865$519$72
39 years$3,361$2,145$1,325$798$471$61
40 years$3,240$2,041$1,242$736$427$52
41 years$3,126$1,943$1,165$679$387$44
42 years$3,017$1,851$1,093$626$352$38
43 years$2,914$1,763$1,025$578$319$32
44 years$2,816$1,681$963$534$290$27
45 years$2,722$1,603$904$493$263$23
46 years$2,633$1,529$849$456$239$20
47 years$2,548$1,459$797$421$217$17
48 years$2,466$1,393$749$389$197$14
49 years$2,388$1,330$704$359$179$12
50 years$2,314$1,271$662$332$162$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,370,000, adding $4,950 every year, while hoping to spend $50,555 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: 31/44/25 Blend
59$2,370,000$2,370,000$2,370,000$2,370,000
60$2,616,846$2,491,236$2,454,501$2,677,689
61$2,829,974$2,559,516$2,482,937$2,792,986
62$3,063,147$2,629,448$2,510,630$2,912,180
63$3,318,356$2,701,059$2,537,504$3,039,468
64$3,597,793$2,774,376$2,563,476$3,175,591
65$3,903,873$2,849,425$2,588,457$3,321,363
66$4,239,255$2,926,234$2,612,358$3,477,681
67$4,606,868$3,004,828$2,635,080$3,645,534
68$5,009,936$3,085,232$2,656,523$3,826,007
69$5,452,012$3,167,471$2,676,579$4,020,299
70$5,937,008$3,251,568$2,695,135$4,229,727
71$6,469,233$3,337,546$2,712,073$4,455,744
72$7,053,435$3,425,426$2,727,268$4,699,949
73$7,694,843$3,515,229$2,740,588$4,964,105
74$8,399,216$3,606,974$2,751,897$5,250,151
75$9,172,899$3,700,679$2,761,048$5,560,228
76$10,022,881$3,796,359$2,767,891$5,896,690
77$10,956,865$3,894,030$2,772,264$6,262,135
78$11,983,331$3,993,704$2,774,001$6,659,422
79$13,111,626$4,095,391$2,772,926$7,091,703
80$14,352,046$4,199,099$2,768,853$7,562,453
81$15,715,935$4,304,835$2,761,590$8,075,500
82$17,215,790$4,412,601$2,750,932$8,635,061
83$18,865,380$4,522,398$2,736,668$9,245,786
84$20,679,876$4,634,222$2,718,573$9,912,799
85$22,675,992$4,748,069$2,696,415$10,641,747
86$24,872,146$4,863,927$2,669,947$11,438,854
87$27,288,628$4,981,782$2,638,914$12,310,978
88$29,947,797$5,101,618$2,603,046$13,265,681
89$32,874,286$5,223,411$2,562,062$14,311,295
90$36,095,239$5,347,134$2,515,667$15,457,004
91$39,640,564$5,472,755$2,463,553$16,712,930
92$43,543,217$5,600,235$2,405,397$18,090,232
93$47,839,508$5,729,529$2,340,861$19,601,207
94$52,569,450$5,860,588$2,269,591$21,259,408
95$57,777,130$5,993,354$2,191,219$23,079,776
96$63,511,131$6,127,761$2,105,358$25,078,777
97$69,824,982$6,263,737$2,011,604$27,274,562
98$76,777,671$6,401,202$1,909,534$29,687,134
99$84,434,197$6,540,064$1,798,706$32,338,543
100$92,866,182$6,680,224$1,678,660$35,253,092