Can I retire at age 60 with 2,410,000?

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 $2,410,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$199,016$197,243$195,513$193,825$192,177$187,455
2 years$98,523$96,688$94,909$93,185$91,513$86,785
3 years$65,029$63,186$61,413$59,705$58,059$53,473
4 years$48,286$46,449$44,693$43,014$41,408$36,999
5 years$38,243$36,416$34,683$33,039$31,478$27,258
6 years$31,549$29,737$28,029$26,421$24,908$20,881
7 years$26,770$24,973$23,292$21,722$20,256$16,423
8 years$23,187$21,406$19,754$18,222$16,805$13,164
9 years$20,402$18,638$17,014$15,521$14,152$10,700
10 years$18,175$16,429$14,833$13,380$12,058$8,792
11 years$16,355$14,625$13,059$11,644$10,370$7,285
12 years$14,839$13,127$11,589$10,214$8,987$6,076
13 years$13,557$11,863$10,354$9,017$7,837$5,096
14 years$12,459$10,783$9,303$8,004$6,870$4,292
15 years$11,508$9,851$8,400$7,138$6,049$3,629
16 years$10,677$9,038$7,616$6,392$5,346$3,077
17 years$9,945$8,323$6,930$5,743$4,740$2,615
18 years$9,294$7,691$6,326$5,176$4,214$2,228
19 years$8,713$7,128$5,791$4,677$3,756$1,901
20 years$8,191$6,624$5,315$4,236$3,355$1,625
21 years$7,719$6,170$4,889$3,844$3,003$1,390
22 years$7,290$5,759$4,506$3,495$2,691$1,191
23 years$6,899$5,387$4,160$3,183$2,416$1,021
24 years$6,542$5,047$3,848$2,903$2,172$876
25 years$6,213$4,736$3,564$2,651$1,954$752
26 years$5,911$4,451$3,305$2,424$1,760$646
27 years$5,631$4,189$3,069$2,219$1,587$555
28 years$5,371$3,947$2,853$2,033$1,432$478
29 years$5,130$3,724$2,655$1,864$1,293$411
30 years$4,906$3,517$2,473$1,711$1,168$353
31 years$4,696$3,325$2,306$1,571$1,056$304
32 years$4,500$3,146$2,151$1,444$955$262
33 years$4,316$2,979$2,008$1,328$865$226
34 years$4,143$2,823$1,877$1,222$783$194
35 years$3,981$2,678$1,755$1,125$709$167
36 years$3,828$2,542$1,641$1,036$642$144
37 years$3,683$2,414$1,536$954$582$124
38 years$3,547$2,294$1,439$880$528$107
39 years$3,417$2,182$1,348$811$479$92
40 years$3,295$2,076$1,263$748$434$79
41 years$3,179$1,976$1,185$690$394$68
42 years$3,068$1,882$1,111$637$357$59
43 years$2,963$1,793$1,043$588$324$51
44 years$2,863$1,709$979$543$294$44
45 years$2,768$1,630$919$501$267$38
46 years$2,677$1,555$863$463$243$33
47 years$2,591$1,484$811$428$220$28
48 years$2,508$1,416$762$395$200$24
49 years$2,429$1,353$716$365$182$21
50 years$2,353$1,292$673$338$165$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,410,000, adding $2,508 every year, while hoping to spend $23,393 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: 40/34/26 Blend
59$2,410,000$2,410,000$2,410,000$2,410,000
60$2,658,407$2,530,677$2,493,322$2,744,226
61$2,904,675$2,629,790$2,551,958$2,905,705
62$3,175,277$2,732,976$2,611,775$3,077,914
63$3,472,673$2,840,409$2,672,787$3,263,771
64$3,799,569$2,952,272$2,735,008$3,464,539
65$4,158,947$3,068,756$2,798,453$3,681,603
66$4,554,095$3,190,060$2,863,137$3,916,488
67$4,988,632$3,316,392$2,929,071$4,170,868
68$5,466,547$3,447,971$2,996,270$4,446,581
69$5,992,236$3,585,022$3,064,746$4,745,650
70$6,570,540$3,727,784$3,134,511$5,070,297
71$7,206,795$3,876,505$3,205,577$5,422,966
72$7,906,879$4,031,445$3,277,954$5,806,343
73$8,677,268$4,192,873$3,351,653$6,223,382
74$9,525,099$4,361,074$3,426,684$6,677,334
75$10,458,236$4,536,344$3,503,055$7,171,771
76$11,485,343$4,718,991$3,580,773$7,710,627
77$12,615,966$4,909,339$3,659,847$8,298,225
78$13,860,625$5,107,727$3,740,282$8,939,327
79$15,230,910$5,314,508$3,822,084$9,639,168
80$16,739,595$5,530,050$3,905,255$10,403,511
81$18,400,752$5,754,741$3,989,800$11,238,699
82$20,229,889$5,988,984$4,075,718$12,151,711
83$22,244,094$6,233,201$4,163,011$13,150,231
84$24,462,197$6,487,833$4,251,678$14,242,717
85$26,904,947$6,753,342$4,341,715$15,438,477
86$29,595,206$7,030,211$4,433,117$16,747,761
87$32,558,170$7,318,944$4,525,879$18,181,854
88$35,821,600$7,620,069$4,619,993$19,753,178
89$39,416,089$7,934,138$4,715,448$21,475,414
90$43,375,346$8,261,727$4,812,232$23,363,624
91$47,736,521$8,603,441$4,910,331$25,434,393
92$52,540,548$8,959,911$5,009,729$27,705,987
93$57,832,535$9,331,798$5,110,406$30,198,521
94$63,662,189$9,719,792$5,212,340$32,934,145
95$70,084,286$10,124,616$5,315,507$35,937,256
96$77,159,187$10,547,025$5,419,880$39,234,724
97$84,953,406$10,987,811$5,525,428$42,856,142
98$93,540,241$11,447,802$5,632,117$46,834,106
99$103,000,463$11,927,861$5,739,911$51,204,518
100$113,423,079$12,428,896$5,848,767$56,006,926