Can I retire at age 60 with 2,380,000?

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 $2,380,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$196,538$194,788$193,080$191,412$189,785$188,037
2 years$97,296$95,484$93,728$92,025$90,374$88,613
3 years$64,220$62,400$60,648$58,961$57,337$55,618
4 years$47,685$45,871$44,136$42,478$40,893$39,229
5 years$37,766$35,963$34,252$32,627$31,086$29,482
6 years$31,156$29,367$27,680$26,092$24,597$23,054
7 years$26,437$24,662$23,003$21,452$20,004$18,523
8 years$22,899$21,140$19,508$17,996$16,596$15,177
9 years$20,148$18,406$16,802$15,328$13,976$12,619
10 years$17,949$16,224$14,649$13,213$11,908$10,612
11 years$16,151$14,443$12,896$11,499$10,241$9,005
12 years$14,654$12,964$11,445$10,086$8,875$7,697
13 years$13,388$11,715$10,226$8,905$7,739$6,619
14 years$12,304$10,649$9,188$7,905$6,784$5,720
15 years$11,365$9,728$8,295$7,050$5,973$4,963
16 years$10,544$8,925$7,521$6,312$5,279$4,322
17 years$9,821$8,220$6,844$5,671$4,681$3,775
18 years$9,179$7,595$6,247$5,111$4,162$3,305
19 years$8,605$7,039$5,719$4,618$3,710$2,900
20 years$8,089$6,541$5,249$4,183$3,314$2,550
21 years$7,623$6,093$4,828$3,796$2,965$2,245
22 years$7,199$5,688$4,450$3,452$2,658$1,980
23 years$6,814$5,319$4,108$3,143$2,386$1,749
24 years$6,460$4,984$3,800$2,867$2,145$1,546
25 years$6,136$4,677$3,519$2,618$1,930$1,368
26 years$5,837$4,396$3,264$2,394$1,738$1,211
27 years$5,561$4,137$3,031$2,191$1,567$1,073
28 years$5,305$3,898$2,818$2,008$1,414$952
29 years$5,066$3,678$2,622$1,841$1,277$844
30 years$4,845$3,473$2,442$1,690$1,154$750
31 years$4,638$3,283$2,277$1,552$1,043$666
32 years$4,444$3,107$2,124$1,426$944$591
33 years$4,262$2,942$1,983$1,311$854$526
34 years$4,092$2,788$1,853$1,207$773$467
35 years$3,931$2,645$1,733$1,111$700$416
36 years$3,780$2,510$1,621$1,023$634$370
37 years$3,637$2,384$1,517$943$575$329
38 years$3,502$2,266$1,421$869$521$293
39 years$3,375$2,155$1,331$801$473$260
40 years$3,254$2,050$1,248$739$429$232
41 years$3,139$1,951$1,170$682$389$206
42 years$3,030$1,858$1,097$629$353$184
43 years$2,926$1,771$1,030$581$320$164
44 years$2,828$1,688$967$536$291$146
45 years$2,734$1,609$908$495$264$130
46 years$2,644$1,535$852$457$240$116
47 years$2,559$1,465$801$423$218$103
48 years$2,477$1,399$753$391$198$92
49 years$2,399$1,336$707$361$180$82
50 years$2,324$1,276$665$334$163$73

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,380,000, adding $4,441 every year, while hoping to spend $43,804 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: 66/19/15 Blend
59$2,380,000$2,380,000$2,380,000$2,380,000
60$2,627,341$2,501,201$2,464,311$2,791,088
61$2,848,723$2,577,153$2,500,258$2,976,993
62$3,091,217$2,655,358$2,535,942$3,174,603
63$3,356,932$2,735,881$2,571,306$3,389,518
64$3,648,187$2,818,787$2,606,293$3,623,429
65$3,967,539$2,904,145$2,640,841$3,878,200
66$4,317,803$2,992,023$2,674,884$4,155,883
67$4,702,079$3,082,493$2,708,353$4,458,735
68$5,123,784$3,175,627$2,741,175$4,789,244
69$5,586,678$3,271,501$2,773,273$5,150,149
70$6,094,906$3,370,191$2,804,564$5,544,468
71$6,653,032$3,471,776$2,834,963$5,975,522
72$7,266,085$3,576,337$2,864,378$6,446,972
73$7,939,604$3,683,956$2,892,713$6,962,847
74$8,679,692$3,794,719$2,919,868$7,527,587
75$9,493,073$3,908,712$2,945,735$8,146,084
76$10,387,151$4,026,024$2,970,202$8,823,725
77$11,370,088$4,146,746$2,993,151$9,566,445
78$12,450,873$4,270,973$3,014,458$10,380,781
79$13,639,411$4,398,799$3,033,991$11,273,936
80$14,946,614$4,530,323$3,051,613$12,253,846
81$16,384,504$4,665,645$3,067,178$13,329,253
82$17,966,330$4,804,868$3,080,535$14,509,789
83$19,706,687$4,948,098$3,091,523$15,806,065
84$21,621,655$5,095,440$3,099,975$17,229,774
85$23,728,953$5,247,007$3,105,715$18,793,798
86$26,048,106$5,402,910$3,108,555$20,512,330
87$28,600,624$5,563,264$3,108,304$22,401,009
88$31,410,211$5,728,187$3,104,755$24,477,067
89$34,502,985$5,897,800$3,097,696$26,759,491
90$37,907,722$6,072,225$3,086,902$29,269,201
91$41,656,134$6,251,588$3,072,137$32,029,251
92$45,783,161$6,436,017$3,053,155$35,065,040
93$50,327,305$6,625,644$3,029,697$38,404,558
94$55,330,991$6,820,601$3,001,493$42,078,647
95$60,840,967$7,021,026$2,968,258$46,121,291
96$66,908,747$7,227,057$2,929,696$50,569,939
97$73,591,093$7,438,837$2,885,495$55,465,856
98$80,950,555$7,656,511$2,835,330$60,854,513
99$89,056,057$7,880,225$2,778,859$66,786,019
100$97,983,549$8,110,130$2,715,725$73,315,587