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

Use the below retirement simulation to view the chances of a successful retirement.
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%18.7%
1 years$196,538$194,788$193,080$191,412$189,785$183,124
2 years$97,296$95,484$93,728$92,025$90,374$83,733
3 years$64,220$62,400$60,648$58,961$57,337$50,925
4 years$47,685$45,871$44,136$42,478$40,893$34,759
5 years$37,766$35,963$34,252$32,627$31,086$25,246
6 years$31,156$29,367$27,680$26,092$24,597$19,055
7 years$26,437$24,662$23,003$21,452$20,004$14,760
8 years$22,899$21,140$19,508$17,996$16,596$11,644
9 years$20,148$18,406$16,802$15,328$13,976$9,311
10 years$17,949$16,224$14,649$13,213$11,908$7,522
11 years$16,151$14,443$12,896$11,499$10,241$6,125
12 years$14,654$12,964$11,445$10,086$8,875$5,018
13 years$13,388$11,715$10,226$8,905$7,739$4,132
14 years$12,304$10,649$9,188$7,905$6,784$3,416
15 years$11,365$9,728$8,295$7,050$5,973$2,834
16 years$10,544$8,925$7,521$6,312$5,279$2,357
17 years$9,821$8,220$6,844$5,671$4,681$1,964
18 years$9,179$7,595$6,247$5,111$4,162$1,640
19 years$8,605$7,039$5,719$4,618$3,710$1,371
20 years$8,089$6,541$5,249$4,183$3,314$1,148
21 years$7,623$6,093$4,828$3,796$2,965$962
22 years$7,199$5,688$4,450$3,452$2,658$807
23 years$6,814$5,319$4,108$3,143$2,386$677
24 years$6,460$4,984$3,800$2,867$2,145$569
25 years$6,136$4,677$3,519$2,618$1,930$478
26 years$5,837$4,396$3,264$2,394$1,738$402
27 years$5,561$4,137$3,031$2,191$1,567$338
28 years$5,305$3,898$2,818$2,008$1,414$284
29 years$5,066$3,678$2,622$1,841$1,277$239
30 years$4,845$3,473$2,442$1,690$1,154$201
31 years$4,638$3,283$2,277$1,552$1,043$169
32 years$4,444$3,107$2,124$1,426$944$143
33 years$4,262$2,942$1,983$1,311$854$120
34 years$4,092$2,788$1,853$1,207$773$101
35 years$3,931$2,645$1,733$1,111$700$85
36 years$3,780$2,510$1,621$1,023$634$72
37 years$3,637$2,384$1,517$943$575$60
38 years$3,502$2,266$1,421$869$521$51
39 years$3,375$2,155$1,331$801$473$43
40 years$3,254$2,050$1,248$739$429$36
41 years$3,139$1,951$1,170$682$389$30
42 years$3,030$1,858$1,097$629$353$26
43 years$2,926$1,771$1,030$581$320$22
44 years$2,828$1,688$967$536$291$18
45 years$2,734$1,609$908$495$264$15
46 years$2,644$1,535$852$457$240$13
47 years$2,559$1,465$801$423$218$11
48 years$2,477$1,399$753$391$198$9
49 years$2,399$1,336$707$361$180$8
50 years$2,324$1,276$665$334$163$6

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 $2,201 every year, while hoping to spend $29,905 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: 53/23/24 Blend
59$2,380,000$2,380,000$2,380,000$2,380,000
60$2,625,030$2,498,890$2,462,000$2,746,590
61$2,860,965$2,589,517$2,512,659$2,921,322
62$3,119,962$2,683,583$2,564,012$3,108,099
63$3,404,343$2,781,223$2,616,051$3,310,736
64$3,716,665$2,882,582$2,668,768$3,530,759
65$4,059,744$2,987,807$2,722,150$3,769,847
66$4,436,682$3,097,054$2,776,186$4,029,846
67$4,850,897$3,210,483$2,830,862$4,312,787
68$5,306,155$3,328,263$2,886,162$4,620,907
69$5,806,604$3,450,569$2,942,070$4,956,667
70$6,356,814$3,577,583$2,998,566$5,322,775
71$6,961,820$3,709,497$3,055,629$5,722,213
72$7,627,171$3,846,507$3,113,237$6,158,263
73$8,358,977$3,988,820$3,171,366$6,634,539
74$9,163,973$4,136,653$3,229,987$7,155,021
75$10,049,579$4,290,230$3,289,073$7,724,087
76$11,023,970$4,449,785$3,348,590$8,346,561
77$12,096,152$4,615,562$3,408,506$9,027,756
78$13,276,051$4,787,816$3,468,782$9,773,519
79$14,574,602$4,966,812$3,529,379$10,590,292
80$16,003,852$5,152,827$3,590,255$11,485,168
81$17,577,080$5,346,151$3,651,363$12,465,960
82$19,308,913$5,547,083$3,712,655$13,541,273
83$21,215,471$5,755,939$3,774,077$14,720,584
84$23,314,515$5,973,045$3,835,574$16,014,332
85$25,625,615$6,198,745$3,897,086$17,434,016
86$28,170,339$6,433,393$3,958,549$18,992,300
87$30,972,447$6,677,364$4,019,895$20,703,138
88$34,058,126$6,931,044$4,081,050$22,581,899
89$37,456,228$7,194,838$4,141,939$24,645,513
90$41,198,549$7,469,170$4,202,479$26,912,632
91$45,320,122$7,754,481$4,262,583$29,403,804
92$49,859,554$8,051,230$4,322,160$32,141,666
93$54,859,387$8,359,899$4,381,110$35,151,155
94$60,366,499$8,680,989$4,439,332$38,459,748
95$66,432,547$9,015,022$4,496,715$42,097,714
96$73,114,455$9,362,547$4,553,143$46,098,404
97$80,474,950$9,724,132$4,608,494$50,498,561
98$88,583,154$10,100,374$4,662,638$55,338,669
99$97,515,237$10,491,894$4,715,438$60,663,332
100$107,355,136$10,899,341$4,766,750$66,521,695