Can I retire at age 60 with 2,400,000?

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 $2,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$198,190$196,424$194,702$193,021$191,379$188,597
2 years$98,114$96,286$94,516$92,799$91,133$88,336
3 years$64,759$62,924$61,158$59,457$57,819$55,093
4 years$48,086$46,256$44,507$42,835$41,237$38,605
5 years$38,084$36,265$34,539$32,902$31,347$28,816
6 years$31,418$29,613$27,913$26,312$24,804$22,376
7 years$26,659$24,869$23,196$21,632$20,172$17,849
8 years$23,091$21,318$19,672$18,147$16,735$14,516
9 years$20,318$18,561$16,943$15,457$14,093$11,977
10 years$18,100$16,360$14,772$13,324$12,008$9,993
11 years$16,287$14,565$13,005$11,596$10,327$8,412
12 years$14,777$13,072$11,541$10,171$8,950$7,131
13 years$13,500$11,814$10,311$8,980$7,804$6,080
14 years$12,407$10,738$9,265$7,971$6,841$5,209
15 years$11,460$9,810$8,365$7,109$6,023$4,481
16 years$10,633$9,000$7,584$6,365$5,324$3,867
17 years$9,904$8,289$6,901$5,719$4,720$3,346
18 years$9,256$7,659$6,300$5,154$4,197$2,903
19 years$8,677$7,099$5,767$4,657$3,741$2,523
20 years$8,157$6,596$5,293$4,218$3,341$2,197
21 years$7,687$6,144$4,868$3,828$2,990$1,916
22 years$7,260$5,735$4,487$3,481$2,680$1,673
23 years$6,871$5,364$4,143$3,170$2,406$1,463
24 years$6,515$5,026$3,832$2,891$2,163$1,280
25 years$6,188$4,717$3,549$2,640$1,946$1,121
26 years$5,886$4,433$3,291$2,414$1,753$983
27 years$5,607$4,172$3,056$2,210$1,580$862
28 years$5,349$3,931$2,841$2,025$1,426$756
29 years$5,109$3,708$2,644$1,857$1,288$664
30 years$4,885$3,502$2,463$1,704$1,163$583
31 years$4,677$3,311$2,296$1,565$1,052$512
32 years$4,481$3,133$2,142$1,438$951$450
33 years$4,298$2,967$2,000$1,323$861$396
34 years$4,126$2,812$1,869$1,217$780$348
35 years$3,964$2,667$1,747$1,120$706$306
36 years$3,812$2,531$1,634$1,032$640$270
37 years$3,668$2,404$1,530$951$580$237
38 years$3,532$2,285$1,433$876$526$209
39 years$3,403$2,173$1,342$808$477$184
40 years$3,281$2,067$1,258$745$432$162
41 years$3,165$1,968$1,180$687$392$142
42 years$3,056$1,874$1,107$634$356$125
43 years$2,951$1,785$1,038$586$323$110
44 years$2,852$1,702$975$541$293$97
45 years$2,757$1,623$915$499$266$86
46 years$2,666$1,548$860$461$242$75
47 years$2,580$1,477$808$426$219$66
48 years$2,498$1,410$759$394$199$58
49 years$2,419$1,347$713$364$181$52
50 years$2,343$1,287$671$336$164$45

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,400,000, adding $2,941 every year, while hoping to spend $24,677 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: 38/33/29 Blend
59$2,400,000$2,400,000$2,400,000$2,400,000
60$2,647,834$2,520,634$2,483,434$2,725,501
61$2,891,657$2,617,889$2,540,373$2,880,230
62$3,159,522$2,719,082$2,598,392$3,044,874
63$3,453,857$2,824,381$2,657,502$3,222,352
64$3,777,334$2,933,959$2,717,712$3,413,847
65$4,132,898$3,047,999$2,779,031$3,620,657
66$4,523,794$3,166,690$2,841,468$3,844,210
67$4,953,595$3,290,232$2,905,031$4,086,073
68$5,426,239$3,418,831$2,969,727$4,347,969
69$5,946,065$3,552,704$3,035,563$4,631,793
70$6,517,854$3,692,076$3,102,545$4,939,626
71$7,146,872$3,837,185$3,170,677$5,273,756
72$7,838,922$3,988,276$3,239,963$5,636,701
73$8,600,397$4,145,607$3,310,407$6,031,228
74$9,438,343$4,309,447$3,382,012$6,460,382
75$10,360,522$4,480,078$3,454,777$6,927,509
76$11,375,486$4,657,793$3,528,703$7,436,295
77$12,492,660$4,842,899$3,603,789$7,990,790
78$13,722,427$5,035,716$3,680,031$8,595,454
79$15,076,229$5,236,581$3,757,426$9,255,192
80$16,566,673$5,445,842$3,835,969$9,975,404
81$18,207,652$5,663,866$3,915,652$10,762,033
82$20,014,472$5,891,036$3,996,467$11,621,617
83$22,004,002$6,127,751$4,078,402$12,561,356
84$24,194,828$6,374,428$4,161,446$13,589,173
85$26,607,430$6,631,504$4,245,584$14,713,793
86$29,264,376$6,899,437$4,330,800$15,944,819
87$32,190,536$7,178,702$4,417,074$17,292,825
88$35,413,310$7,469,799$4,504,387$18,769,452
89$38,962,898$7,773,248$4,592,713$20,387,518
90$42,872,572$8,089,596$4,682,028$22,161,140
91$47,179,000$8,419,412$4,772,301$24,105,860
92$51,922,586$8,763,291$4,863,501$26,238,794
93$57,147,855$9,121,858$4,955,594$28,578,794
94$62,903,870$9,495,763$5,048,540$31,146,620
95$69,244,697$9,885,688$5,142,299$33,965,134
96$76,229,915$10,292,345$5,236,824$37,059,521
97$83,925,176$10,716,479$5,332,067$40,457,515
98$92,402,827$11,158,870$5,427,975$44,189,667
99$101,742,593$11,620,333$5,524,490$48,289,627
100$112,032,328$12,101,719$5,621,551$52,794,462