Can I retire at age 60 with 2,430,000?

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 $2,430,000?

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$200,667$198,880$197,136$195,434$193,772$189,011
2 years$99,340$97,490$95,697$93,958$92,272$87,505
3 years$65,569$63,711$61,922$60,200$58,541$53,917
4 years$48,687$46,834$45,064$43,371$41,752$37,306
5 years$38,560$36,719$34,971$33,313$31,739$27,484
6 years$31,811$29,983$28,262$26,641$25,114$21,054
7 years$26,992$25,180$23,486$21,903$20,425$16,560
8 years$23,380$21,584$19,918$18,374$16,944$13,273
9 years$20,571$18,793$17,155$15,650$14,269$10,789
10 years$18,326$16,565$14,956$13,491$12,158$8,865
11 years$16,490$14,747$13,167$11,741$10,457$7,345
12 years$14,962$13,236$11,686$10,298$9,061$6,127
13 years$13,669$11,961$10,440$9,092$7,902$5,138
14 years$12,562$10,873$9,381$8,071$6,927$4,328
15 years$11,604$9,932$8,469$7,198$6,099$3,659
16 years$10,766$9,113$7,679$6,445$5,390$3,102
17 years$10,027$8,392$6,987$5,791$4,779$2,637
18 years$9,372$7,755$6,379$5,218$4,249$2,246
19 years$8,786$7,187$5,839$4,715$3,788$1,917
20 years$8,259$6,679$5,359$4,271$3,383$1,638
21 years$7,783$6,221$4,929$3,876$3,028$1,402
22 years$7,351$5,807$4,543$3,524$2,714$1,201
23 years$6,957$5,431$4,195$3,209$2,436$1,029
24 years$6,596$5,089$3,879$2,927$2,190$883
25 years$6,265$4,775$3,593$2,673$1,970$758
26 years$5,960$4,488$3,332$2,444$1,775$652
27 years$5,677$4,224$3,094$2,237$1,600$560
28 years$5,416$3,980$2,877$2,050$1,444$482
29 years$5,173$3,755$2,677$1,880$1,304$414
30 years$4,946$3,546$2,494$1,725$1,178$356
31 years$4,735$3,352$2,325$1,584$1,065$307
32 years$4,537$3,172$2,169$1,456$963$264
33 years$4,352$3,004$2,025$1,339$872$227
34 years$4,178$2,847$1,892$1,232$789$196
35 years$4,014$2,700$1,769$1,134$715$169
36 years$3,859$2,563$1,655$1,045$648$145
37 years$3,714$2,434$1,549$962$587$125
38 years$3,576$2,313$1,451$887$532$108
39 years$3,446$2,200$1,359$818$483$93
40 years$3,322$2,093$1,274$754$438$80
41 years$3,205$1,992$1,194$696$397$69
42 years$3,094$1,897$1,120$642$360$59
43 years$2,988$1,808$1,051$593$327$51
44 years$2,887$1,723$987$548$297$44
45 years$2,791$1,643$927$506$270$38
46 years$2,700$1,568$870$467$245$33
47 years$2,612$1,496$818$432$222$28
48 years$2,529$1,428$768$399$202$24
49 years$2,449$1,364$722$369$183$21
50 years$2,373$1,303$679$341$166$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,430,000, adding $2,439 every year, while hoping to spend $58,900 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: 80/12/8 Blend
59$2,430,000$2,430,000$2,430,000$2,430,000
60$2,680,376$2,551,586$2,513,921$2,891,837
61$2,891,105$2,613,944$2,535,468$3,093,124
62$3,121,355$2,677,384$2,555,763$3,305,954
63$3,373,053$2,741,897$2,574,702$3,537,722
64$3,648,325$2,807,470$2,592,174$3,790,290
65$3,949,507$2,874,089$2,608,066$4,065,707
66$4,279,176$2,941,739$2,622,254$4,366,234
67$4,640,165$3,010,397$2,634,614$4,694,354
68$5,035,598$3,080,042$2,645,009$5,052,808
69$5,468,912$3,150,647$2,653,300$5,444,612
70$5,943,894$3,222,182$2,659,338$5,873,089
71$6,464,714$3,294,612$2,662,969$6,341,897
72$7,035,967$3,367,900$2,664,030$6,855,069
73$7,662,710$3,442,002$2,662,350$7,417,045
74$8,350,517$3,516,870$2,657,749$8,032,718
75$9,105,526$3,592,453$2,650,040$8,707,477
76$9,934,498$3,668,692$2,639,025$9,447,261
77$10,844,883$3,745,524$2,624,498$10,258,609
78$11,844,884$3,822,877$2,606,241$11,148,730
79$12,943,540$3,900,676$2,584,029$12,125,564
80$14,150,810$3,978,838$2,557,622$13,197,860
81$15,477,662$4,057,271$2,526,772$14,375,256
82$16,936,183$4,135,876$2,491,218$15,668,374
83$18,539,686$4,214,547$2,450,687$17,088,916
84$20,302,841$4,293,167$2,404,892$18,649,776
85$22,241,810$4,371,611$2,353,535$20,365,162
86$24,374,397$4,449,743$2,296,301$22,250,729
87$26,720,222$4,527,417$2,232,864$24,323,728
88$29,300,900$4,604,475$2,162,880$26,603,166
89$32,140,246$4,680,749$2,085,991$29,109,989
90$35,264,502$4,756,056$2,001,822$31,867,277
91$38,702,578$4,830,200$1,909,980$34,900,463
92$42,486,333$4,902,972$1,810,057$38,237,571
93$46,650,868$4,974,147$1,701,623$41,909,485
94$51,234,860$5,043,483$1,584,230$45,950,234
95$56,280,926$5,110,724$1,457,412$50,397,320
96$61,836,023$5,175,592$1,320,678$55,292,065
97$67,951,896$5,237,794$1,173,519$60,680,008
98$74,685,558$5,297,015$1,015,401$66,611,330
99$82,099,835$5,352,919$845,767$73,141,329
100$90,263,953$5,405,147$664,035$80,330,943