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%15.6%
1 years$195,712$193,969$192,268$190,608$188,987$184,643
2 years$96,887$95,083$93,334$91,639$89,994$85,642
3 years$63,950$62,138$60,393$58,714$57,096$52,871
4 years$47,484$45,678$43,951$42,300$40,721$36,656
5 years$37,608$35,812$34,108$32,490$30,956$27,062
6 years$31,025$29,243$27,564$25,983$24,494$20,776
7 years$26,326$24,558$22,906$21,362$19,920$16,378
8 years$22,802$21,051$19,426$17,920$16,526$13,158
9 years$20,064$18,329$16,732$15,264$13,917$10,722
10 years$17,874$16,156$14,587$13,158$11,858$8,831
11 years$16,083$14,383$12,842$11,451$10,198$7,336
12 years$14,592$12,909$11,397$10,044$8,838$6,135
13 years$13,332$11,666$10,183$8,867$7,707$5,159
14 years$12,252$10,604$9,149$7,872$6,756$4,357
15 years$11,317$9,687$8,260$7,020$5,948$3,694
16 years$10,500$8,888$7,489$6,286$5,257$3,141
17 years$9,780$8,185$6,815$5,648$4,661$2,678
18 years$9,140$7,564$6,221$5,090$4,145$2,288
19 years$8,569$7,010$5,695$4,599$3,694$1,958
20 years$8,055$6,514$5,227$4,165$3,300$1,678
21 years$7,591$6,067$4,808$3,780$2,953$1,441
22 years$7,169$5,664$4,431$3,437$2,647$1,238
23 years$6,785$5,297$4,091$3,130$2,376$1,065
24 years$6,433$4,963$3,784$2,855$2,136$916
25 years$6,110$4,658$3,504$2,607$1,922$789
26 years$5,813$4,377$3,250$2,384$1,731$680
27 years$5,537$4,120$3,018$2,182$1,561$587
28 years$5,282$3,882$2,806$1,999$1,408$506
29 years$5,045$3,662$2,611$1,833$1,272$437
30 years$4,824$3,458$2,432$1,683$1,149$377
31 years$4,618$3,269$2,267$1,545$1,039$326
32 years$4,425$3,094$2,115$1,420$940$281
33 years$4,244$2,930$1,975$1,306$850$243
34 years$4,074$2,777$1,845$1,202$770$210
35 years$3,915$2,634$1,725$1,106$697$181
36 years$3,764$2,500$1,614$1,019$632$157
37 years$3,622$2,374$1,511$939$573$136
38 years$3,488$2,256$1,415$865$519$117
39 years$3,361$2,145$1,325$798$471$101
40 years$3,240$2,041$1,242$736$427$88
41 years$3,126$1,943$1,165$679$387$76
42 years$3,017$1,851$1,093$626$352$65
43 years$2,914$1,763$1,025$578$319$57
44 years$2,816$1,681$963$534$290$49
45 years$2,722$1,603$904$493$263$42
46 years$2,633$1,529$849$456$239$37
47 years$2,548$1,459$797$421$217$32
48 years$2,466$1,393$749$389$197$27
49 years$2,388$1,330$704$359$179$24
50 years$2,314$1,271$662$332$162$21

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 $6,583 every year, while hoping to spend $29,269 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: 70/21/9 Blend
59$2,370,000$2,370,000$2,370,000$2,370,000
60$2,618,530$2,492,920$2,456,185$2,796,987
61$2,854,478$2,583,931$2,507,326$3,007,016
62$3,113,512$2,678,421$2,559,198$3,232,558
63$3,397,956$2,776,529$2,611,796$3,478,568
64$3,710,369$2,878,400$2,665,113$3,747,052
65$4,053,571$2,984,187$2,719,139$4,040,218
66$4,430,670$3,094,046$2,773,864$4,360,497
67$4,845,087$3,208,143$2,829,278$4,710,564
68$5,300,593$3,326,649$2,885,366$5,093,364
69$5,801,341$3,449,743$2,942,114$5,512,140
70$6,351,909$3,577,612$2,999,505$5,970,461
71$6,957,338$3,710,449$3,057,523$6,472,258
72$7,623,183$3,848,458$3,116,147$7,021,859
73$8,355,565$3,991,849$3,175,354$7,624,030
74$9,161,226$4,140,843$3,235,122$8,284,019
75$10,047,596$4,295,670$3,295,424$9,007,605
76$11,022,862$4,456,569$3,356,232$9,801,154
77$12,096,043$4,623,789$3,417,515$10,671,675
78$13,277,077$4,797,593$3,479,239$11,626,890
79$14,576,915$4,978,251$3,541,370$12,675,301
80$16,007,621$5,166,046$3,603,867$13,826,276
81$17,582,492$5,361,276$3,666,690$15,090,132
82$19,316,175$5,564,247$3,729,793$16,478,232
83$21,224,812$5,775,283$3,793,128$18,003,094
84$23,326,190$5,994,718$3,856,644$19,678,508
85$25,639,906$6,222,904$3,920,287$21,519,665
86$28,187,556$6,460,206$3,983,996$23,543,299
87$30,992,936$6,707,006$4,047,709$25,767,843
88$34,082,268$6,963,701$4,111,360$28,213,608
89$37,484,446$7,230,709$4,174,877$30,902,967
90$41,231,308$7,508,462$4,238,184$33,860,569
91$45,357,938$7,797,414$4,301,200$37,113,570
92$49,902,997$8,098,037$4,363,840$40,691,891
93$54,909,087$8,410,825$4,426,013$44,628,493
94$60,423,152$8,736,293$4,487,622$48,959,694
95$66,496,921$9,074,979$4,548,565$53,725,509
96$73,187,399$9,427,444$4,608,733$58,970,023
97$80,557,401$9,794,276$4,668,013$64,741,812
98$88,676,147$10,176,087$4,726,283$71,094,395
99$97,619,914$10,573,516$4,783,414$78,086,743
100$107,472,759$10,987,232$4,839,271$85,783,830