Can I retire at age 60 with 2,390,000?

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 $2,390,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$197,364$195,606$193,891$192,217$190,582$186,887
2 years$97,705$95,885$94,122$92,412$90,753$87,046
3 years$64,490$62,662$60,903$59,209$57,578$53,973
4 years$47,885$46,063$44,322$42,657$41,065$37,591
5 years$37,925$36,114$34,396$32,765$31,217$27,883
6 years$31,287$29,490$27,797$26,202$24,701$21,512
7 years$26,548$24,766$23,099$21,542$20,088$17,044
8 years$22,995$21,229$19,590$18,071$16,665$13,765
9 years$20,233$18,483$16,873$15,393$14,035$11,277
10 years$18,025$16,292$14,710$13,269$11,958$9,340
11 years$16,219$14,504$12,951$11,548$10,284$7,803
12 years$14,715$13,018$11,493$10,129$8,912$6,564
13 years$13,444$11,764$10,268$8,942$7,772$5,553
14 years$12,355$10,694$9,226$7,938$6,813$4,719
15 years$11,413$9,769$8,330$7,079$5,998$4,026
16 years$10,589$8,963$7,552$6,339$5,301$3,445
17 years$9,862$8,254$6,872$5,695$4,701$2,956
18 years$9,217$7,627$6,274$5,133$4,180$2,542
19 years$8,641$7,069$5,743$4,638$3,725$2,190
20 years$8,123$6,569$5,271$4,200$3,327$1,890
21 years$7,655$6,119$4,848$3,812$2,978$1,634
22 years$7,230$5,711$4,468$3,466$2,669$1,413
23 years$6,842$5,342$4,126$3,157$2,396$1,224
24 years$6,488$5,005$3,816$2,879$2,154$1,061
25 years$6,162$4,697$3,534$2,629$1,938$921
26 years$5,862$4,414$3,278$2,404$1,746$799
27 years$5,584$4,154$3,044$2,201$1,574$694
28 years$5,327$3,915$2,829$2,016$1,420$603
29 years$5,088$3,693$2,633$1,849$1,282$525
30 years$4,865$3,488$2,453$1,697$1,159$456
31 years$4,657$3,297$2,286$1,558$1,047$397
32 years$4,463$3,120$2,133$1,432$948$345
33 years$4,280$2,954$1,992$1,317$858$301
34 years$4,109$2,800$1,861$1,212$776$262
35 years$3,948$2,656$1,740$1,115$703$228
36 years$3,796$2,521$1,628$1,027$637$198
37 years$3,653$2,394$1,523$947$577$173
38 years$3,517$2,275$1,427$872$524$151
39 years$3,389$2,164$1,337$804$475$131
40 years$3,268$2,058$1,253$742$431$114
41 years$3,152$1,959$1,175$685$391$100
42 years$3,043$1,866$1,102$632$354$87
43 years$2,939$1,778$1,034$583$322$76
44 years$2,840$1,695$971$538$292$66
45 years$2,745$1,616$911$497$265$57
46 years$2,655$1,542$856$459$241$50
47 years$2,569$1,471$804$424$219$44
48 years$2,487$1,405$756$392$198$38
49 years$2,409$1,341$710$362$180$33
50 years$2,333$1,281$668$335$164$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,390,000, adding $3,397 every year, while hoping to spend $30,560 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: 54/16/30 Blend
59$2,390,000$2,390,000$2,390,000$2,390,000
60$2,637,284$2,510,614$2,473,569$2,757,451
61$2,873,771$2,601,118$2,523,918$2,931,609
62$3,133,356$2,695,033$2,574,929$3,117,736
63$3,418,362$2,792,494$2,626,593$3,319,791
64$3,731,349$2,893,640$2,678,898$3,539,316
65$4,075,136$2,998,618$2,731,831$3,778,010
66$4,452,830$3,107,580$2,785,377$4,037,744
67$4,867,853$3,220,686$2,839,522$4,320,574
68$5,323,975$3,338,100$2,894,246$4,628,767
69$5,825,348$3,459,995$2,949,531$4,964,817
70$6,376,549$3,586,550$3,005,356$5,331,470
71$6,982,618$3,717,952$3,061,696$5,731,752
72$7,649,110$3,854,396$3,118,528$6,168,991
73$8,382,143$3,996,085$3,175,822$6,646,854
74$9,188,459$4,143,231$3,233,550$7,169,381
75$10,075,487$4,296,055$3,291,679$7,741,018
76$11,051,410$4,454,785$3,350,174$8,366,664
77$12,125,247$4,619,662$3,408,997$9,051,713
78$13,306,933$4,790,936$3,468,109$9,802,107
79$14,607,415$4,968,867$3,527,466$10,624,393
80$16,038,756$5,153,727$3,587,022$11,525,778
81$17,614,248$5,345,799$3,646,726$12,514,205
82$19,348,536$5,545,377$3,706,525$13,598,422
83$21,257,756$5,752,770$3,766,364$14,788,066
84$23,359,691$5,968,299$3,826,180$16,093,753
85$25,673,933$6,192,299$3,885,910$17,527,180
86$28,222,071$6,425,119$3,945,485$19,101,232
87$31,027,895$6,667,123$4,004,832$20,830,102
88$34,117,620$6,918,691$4,063,873$22,729,432
89$37,520,129$7,180,220$4,122,526$24,816,450
90$41,267,255$7,452,122$4,180,702$27,110,141
91$45,394,069$7,734,830$4,238,310$29,631,420
92$49,939,221$8,028,794$4,295,250$32,403,332
93$54,945,300$8,334,483$4,351,420$35,451,267
94$60,459,235$8,652,388$4,406,707$38,803,201
95$66,532,742$8,983,020$4,460,997$42,489,957
96$73,222,806$9,326,912$4,514,165$46,545,498
97$80,592,224$9,684,623$4,566,081$51,007,248
98$88,710,195$10,056,734$4,616,609$55,916,439
99$97,652,972$10,443,851$4,665,602$61,318,507
100$107,504,584$10,846,608$4,712,909$67,263,513