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%12.5%
1 years$198,190$196,424$194,702$193,021$191,379$189,381
2 years$98,114$96,286$94,516$92,799$91,133$89,120
3 years$64,759$62,924$61,158$59,457$57,819$55,854
4 years$48,086$46,256$44,507$42,835$41,237$39,336
5 years$38,084$36,265$34,539$32,902$31,347$29,516
6 years$31,418$29,613$27,913$26,312$24,804$23,044
7 years$26,659$24,869$23,196$21,632$20,172$18,484
8 years$23,091$21,318$19,672$18,147$16,735$15,119
9 years$20,318$18,561$16,943$15,457$14,093$12,548
10 years$18,100$16,360$14,772$13,324$12,008$10,534
11 years$16,287$14,565$13,005$11,596$10,327$8,922
12 years$14,777$13,072$11,541$10,171$8,950$7,612
13 years$13,500$11,814$10,311$8,980$7,804$6,533
14 years$12,407$10,738$9,265$7,971$6,841$5,634
15 years$11,460$9,810$8,365$7,109$6,023$4,879
16 years$10,633$9,000$7,584$6,365$5,324$4,240
17 years$9,904$8,289$6,901$5,719$4,720$3,695
18 years$9,256$7,659$6,300$5,154$4,197$3,229
19 years$8,677$7,099$5,767$4,657$3,741$2,827
20 years$8,157$6,596$5,293$4,218$3,341$2,480
21 years$7,687$6,144$4,868$3,828$2,990$2,179
22 years$7,260$5,735$4,487$3,481$2,680$1,917
23 years$6,871$5,364$4,143$3,170$2,406$1,689
24 years$6,515$5,026$3,832$2,891$2,163$1,490
25 years$6,188$4,717$3,549$2,640$1,946$1,315
26 years$5,886$4,433$3,291$2,414$1,753$1,162
27 years$5,607$4,172$3,056$2,210$1,580$1,027
28 years$5,349$3,931$2,841$2,025$1,426$909
29 years$5,109$3,708$2,644$1,857$1,288$804
30 years$4,885$3,502$2,463$1,704$1,163$712
31 years$4,677$3,311$2,296$1,565$1,052$631
32 years$4,481$3,133$2,142$1,438$951$559
33 years$4,298$2,967$2,000$1,323$861$496
34 years$4,126$2,812$1,869$1,217$780$440
35 years$3,964$2,667$1,747$1,120$706$390
36 years$3,812$2,531$1,634$1,032$640$346
37 years$3,668$2,404$1,530$951$580$307
38 years$3,532$2,285$1,433$876$526$273
39 years$3,403$2,173$1,342$808$477$242
40 years$3,281$2,067$1,258$745$432$215
41 years$3,165$1,968$1,180$687$392$191
42 years$3,056$1,874$1,107$634$356$169
43 years$2,951$1,785$1,038$586$323$150
44 years$2,852$1,702$975$541$293$134
45 years$2,757$1,623$915$499$266$119
46 years$2,666$1,548$860$461$242$105
47 years$2,580$1,477$808$426$219$94
48 years$2,498$1,410$759$394$199$83
49 years$2,419$1,347$713$364$181$74
50 years$2,343$1,287$671$336$164$66

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 $2,251 every year, while hoping to spend $23,072 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: 35/38/27 Blend
59$2,400,000$2,400,000$2,400,000$2,400,000
60$2,647,122$2,519,922$2,482,722$2,718,130
61$2,892,580$2,618,850$2,541,345$2,870,299
62$3,162,301$2,721,852$2,601,158$3,032,129
63$3,458,737$2,829,103$2,662,177$3,206,294
64$3,784,586$2,940,787$2,724,418$3,393,914
65$4,142,823$3,057,095$2,787,896$3,596,215
66$4,536,725$3,178,226$2,852,624$3,814,546
67$4,969,901$3,304,390$2,918,618$4,050,386
68$5,446,331$3,435,805$2,985,891$4,305,361
69$5,970,395$3,572,698$3,054,457$4,581,254
70$6,546,923$3,715,307$3,124,329$4,880,029
71$7,181,234$3,863,883$3,195,519$5,203,838
72$7,879,191$4,018,684$3,268,040$5,555,050
73$8,647,252$4,179,983$3,341,902$5,936,268
74$9,492,533$4,348,063$3,417,117$6,350,352
75$10,422,875$4,523,222$3,493,695$6,800,449
76$11,446,919$4,705,771$3,571,644$7,290,017
77$12,574,184$4,896,032$3,650,973$7,822,860
78$13,815,159$5,094,347$3,731,689$8,403,160
79$15,181,404$5,301,069$3,813,800$9,035,520
80$16,685,655$5,516,568$3,897,309$9,725,000
81$18,341,945$5,741,233$3,982,223$10,477,170
82$20,165,739$5,975,469$4,068,543$11,298,157
83$22,174,077$6,219,700$4,156,271$12,194,702
84$24,385,735$6,474,368$4,245,409$13,174,225
85$26,821,404$6,739,936$4,335,954$14,244,890
86$29,503,884$7,016,890$4,427,906$15,415,683
87$32,458,298$7,305,735$4,521,258$16,696,496
88$35,712,330$7,607,001$4,616,006$18,098,216
89$39,296,487$7,921,244$4,712,141$19,632,827
90$43,244,385$8,249,041$4,809,654$21,313,526
91$47,593,067$8,591,000$4,908,533$23,154,836
92$52,383,355$8,947,753$5,008,764$25,172,752
93$57,660,230$9,319,966$5,110,330$27,384,884
94$63,473,259$9,708,330$5,213,212$29,810,620
95$69,877,066$10,113,573$5,317,389$32,471,313
96$76,931,842$10,536,452$5,422,836$35,390,473
97$84,703,915$10,977,764$5,529,526$38,593,993
98$93,266,377$11,438,337$5,637,429$42,110,389
99$102,699,775$11,919,043$5,746,510$45,971,062
100$113,092,866$12,420,791$5,856,732$50,210,600