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

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 $2,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$198,190$196,424$194,702$193,021$191,379$186,450
2 years$98,114$96,286$94,516$92,799$91,133$86,200
3 years$64,759$62,924$61,158$59,457$57,819$53,036
4 years$48,086$46,256$44,507$42,835$41,237$36,641
5 years$38,084$36,265$34,539$32,902$31,347$26,951
6 years$31,418$29,613$27,913$26,312$24,804$20,612
7 years$26,659$24,869$23,196$21,632$20,172$16,185
8 years$23,091$21,318$19,672$18,147$16,735$12,950
9 years$20,318$18,561$16,943$15,457$14,093$10,507
10 years$18,100$16,360$14,772$13,324$12,008$8,617
11 years$16,287$14,565$13,005$11,596$10,327$7,126
12 years$14,777$13,072$11,541$10,171$8,950$5,932
13 years$13,500$11,814$10,311$8,980$7,804$4,965
14 years$12,407$10,738$9,265$7,971$6,841$4,174
15 years$11,460$9,810$8,365$7,109$6,023$3,521
16 years$10,633$9,000$7,584$6,365$5,324$2,979
17 years$9,904$8,289$6,901$5,719$4,720$2,527
18 years$9,256$7,659$6,300$5,154$4,197$2,148
19 years$8,677$7,099$5,767$4,657$3,741$1,829
20 years$8,157$6,596$5,293$4,218$3,341$1,559
21 years$7,687$6,144$4,868$3,828$2,990$1,331
22 years$7,260$5,735$4,487$3,481$2,680$1,138
23 years$6,871$5,364$4,143$3,170$2,406$973
24 years$6,515$5,026$3,832$2,891$2,163$833
25 years$6,188$4,717$3,549$2,640$1,946$713
26 years$5,886$4,433$3,291$2,414$1,753$611
27 years$5,607$4,172$3,056$2,210$1,580$524
28 years$5,349$3,931$2,841$2,025$1,426$450
29 years$5,109$3,708$2,644$1,857$1,288$386
30 years$4,885$3,502$2,463$1,704$1,163$331
31 years$4,677$3,311$2,296$1,565$1,052$284
32 years$4,481$3,133$2,142$1,438$951$244
33 years$4,298$2,967$2,000$1,323$861$210
34 years$4,126$2,812$1,869$1,217$780$180
35 years$3,964$2,667$1,747$1,120$706$155
36 years$3,812$2,531$1,634$1,032$640$133
37 years$3,668$2,404$1,530$951$580$114
38 years$3,532$2,285$1,433$876$526$98
39 years$3,403$2,173$1,342$808$477$84
40 years$3,281$2,067$1,258$745$432$73
41 years$3,165$1,968$1,180$687$392$62
42 years$3,056$1,874$1,107$634$356$54
43 years$2,951$1,785$1,038$586$323$46
44 years$2,852$1,702$975$541$293$40
45 years$2,757$1,623$915$499$266$34
46 years$2,666$1,548$860$461$242$29
47 years$2,580$1,477$808$426$219$25
48 years$2,498$1,410$759$394$199$22
49 years$2,419$1,347$713$364$181$19
50 years$2,343$1,287$671$336$164$16

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 $2,401 every year, while hoping to spend $31,403 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: 79/7/14 Blend
59$2,400,000$2,400,000$2,400,000$2,400,000
60$2,647,277$2,520,077$2,482,877$2,848,743
61$2,883,886$2,610,148$2,532,640$3,071,728
62$3,143,578$2,703,580$2,583,019$3,312,054
63$3,428,672$2,800,505$2,633,999$3,574,841
64$3,741,726$2,901,059$2,685,568$3,862,324
65$4,085,556$3,005,385$2,737,709$4,176,963
66$4,463,266$3,113,632$2,790,405$4,521,468
67$4,878,273$3,225,954$2,843,637$4,898,824
68$5,334,343$3,342,511$2,897,385$5,312,317
69$5,835,624$3,463,473$2,951,626$5,765,569
70$6,386,687$3,589,012$3,006,335$6,262,568
71$6,992,567$3,719,312$3,061,485$6,807,706
72$7,658,812$3,854,561$3,117,047$7,405,823
73$8,391,533$3,994,957$3,172,991$8,062,251
74$9,197,465$4,140,706$3,229,282$8,782,861
75$10,084,027$4,292,021$3,285,883$9,574,125
76$11,059,393$4,449,125$3,342,756$10,443,168
77$12,132,571$4,612,252$3,399,857$11,397,844
78$13,313,484$4,781,643$3,457,144$12,446,804
79$14,613,067$4,957,551$3,514,565$13,599,578
80$16,043,368$5,140,239$3,572,072$14,866,669
81$17,617,662$5,329,982$3,629,607$16,259,644
82$19,350,578$5,527,065$3,687,113$17,791,251
83$21,258,232$5,731,787$3,744,526$19,475,536
84$23,358,385$5,944,457$3,801,781$21,327,972
85$25,670,605$6,165,401$3,858,806$23,365,610
86$28,216,456$6,394,955$3,915,525$25,607,236
87$31,019,699$6,633,472$3,971,860$28,073,552
88$34,106,515$6,881,319$4,027,724$30,787,363
89$37,505,755$7,138,879$4,083,028$33,773,804
90$41,249,209$7,406,551$4,137,676$37,060,565
91$45,371,908$7,684,752$4,191,568$40,678,160
92$49,912,454$7,973,916$4,244,597$44,660,211
93$54,913,382$8,274,496$4,296,649$49,043,766
94$60,421,566$8,586,965$4,347,606$53,869,651
95$66,488,656$8,911,817$4,397,341$59,182,848
96$73,171,568$9,249,565$4,445,721$65,032,926
97$80,533,021$9,600,746$4,492,605$71,474,507
98$88,642,127$9,965,920$4,537,845$78,567,778
99$97,575,046$10,345,673$4,581,286$86,379,064
100$107,415,703$10,740,613$4,622,761$94,981,447