Can I retire at age 60 with 2,440,000?

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 $2,440,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$201,493$199,698$197,947$196,238$194,569$192,297
2 years$99,749$97,891$96,091$94,345$92,652$90,365
3 years$65,839$63,973$62,177$60,448$58,782$56,552
4 years$48,887$47,027$45,249$43,549$41,924$39,767
5 years$38,719$36,870$35,115$33,450$31,870$29,792
6 years$31,942$30,107$28,378$26,750$25,218$23,222
7 years$27,103$25,284$23,582$21,993$20,509$18,596
8 years$23,476$21,673$20,000$18,449$17,014$15,184
9 years$20,656$18,870$17,226$15,715$14,328$12,580
10 years$18,402$16,633$15,018$13,546$12,208$10,542
11 years$16,558$14,807$13,221$11,789$10,500$8,912
12 years$15,023$13,290$11,734$10,341$9,099$7,589
13 years$13,725$12,011$10,483$9,129$7,934$6,500
14 years$12,614$10,917$9,419$8,104$6,955$5,595
15 years$11,651$9,973$8,504$7,227$6,124$4,836
16 years$10,810$9,150$7,710$6,471$5,412$4,193
17 years$10,069$8,427$7,016$5,814$4,799$3,647
18 years$9,410$7,787$6,405$5,240$4,267$3,180
19 years$8,822$7,217$5,863$4,735$3,803$2,778
20 years$8,293$6,706$5,381$4,288$3,397$2,432
21 years$7,815$6,247$4,950$3,892$3,040$2,132
22 years$7,381$5,831$4,562$3,539$2,725$1,872
23 years$6,985$5,454$4,212$3,223$2,446$1,645
24 years$6,623$5,110$3,895$2,939$2,199$1,447
25 years$6,291$4,795$3,608$2,684$1,978$1,275
26 years$5,984$4,507$3,346$2,454$1,782$1,123
27 years$5,701$4,241$3,107$2,247$1,607$991
28 years$5,438$3,997$2,889$2,058$1,450$874
29 years$5,194$3,770$2,688$1,888$1,309$772
30 years$4,967$3,561$2,504$1,732$1,183$682
31 years$4,754$3,366$2,334$1,591$1,069$603
32 years$4,556$3,185$2,178$1,462$967$533
33 years$4,370$3,016$2,033$1,345$875$471
34 years$4,195$2,859$1,900$1,237$793$417
35 years$4,030$2,711$1,776$1,139$718$369
36 years$3,875$2,573$1,662$1,049$650$326
37 years$3,729$2,444$1,555$966$590$289
38 years$3,591$2,323$1,457$891$534$256
39 years$3,460$2,209$1,365$821$485$227
40 years$3,336$2,102$1,279$758$440$201
41 years$3,218$2,000$1,199$699$399$178
42 years$3,106$1,905$1,125$645$362$157
43 years$3,000$1,815$1,056$595$328$139
44 years$2,899$1,730$991$550$298$124
45 years$2,803$1,650$930$508$271$109
46 years$2,711$1,574$874$469$246$97
47 years$2,623$1,502$821$433$223$86
48 years$2,539$1,434$772$400$203$76
49 years$2,459$1,369$725$370$184$67
50 years$2,382$1,308$682$342$167$60

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,440,000, adding $3,687 every year, while hoping to spend $31,549 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: 73/19/8 Blend
59$2,440,000$2,440,000$2,440,000$2,440,000
60$2,692,683$2,563,363$2,525,543$2,885,543
61$2,933,769$2,655,400$2,576,581$3,105,281
62$3,198,388$2,750,889$2,628,271$3,341,554
63$3,488,908$2,849,967$2,680,602$3,599,433
64$3,807,935$2,952,774$2,733,561$3,881,045
65$4,158,343$3,059,459$2,787,134$4,188,727
66$4,543,296$3,170,174$2,841,305$4,525,055
67$4,966,278$3,285,079$2,896,055$4,892,863
68$5,431,132$3,404,341$2,951,366$5,295,272
69$5,942,086$3,528,133$3,007,216$5,735,719
70$6,503,803$3,656,635$3,063,582$6,217,987
71$7,121,418$3,790,037$3,120,438$6,746,243
72$7,800,587$3,928,533$3,177,757$7,325,075
73$8,547,544$4,072,328$3,235,509$7,959,535
74$9,369,156$4,221,635$3,293,661$8,655,188
75$10,272,990$4,376,676$3,352,180$9,418,163
76$11,267,383$4,537,681$3,411,026$10,255,209
77$12,361,521$4,704,892$3,470,160$11,173,760
78$13,565,524$4,878,559$3,529,538$12,182,006
79$14,890,544$5,058,945$3,589,113$13,288,964
80$16,348,867$5,246,321$3,648,837$14,504,571
81$17,954,034$5,440,973$3,708,655$15,839,770
82$19,720,961$5,643,197$3,768,511$17,306,617
83$21,666,087$5,853,301$3,828,344$18,918,391
84$23,807,524$6,071,609$3,888,090$20,689,723
85$26,165,230$6,298,456$3,947,679$22,636,729
86$28,761,195$6,534,193$4,007,038$24,777,164
87$31,619,653$6,779,184$4,066,090$27,130,589
88$34,767,306$7,033,812$4,124,752$29,718,555
89$38,233,576$7,298,474$4,182,936$32,564,802
90$42,050,886$7,573,585$4,240,550$35,695,489
91$46,254,963$7,859,576$4,297,494$39,139,434
92$50,885,174$8,156,900$4,353,665$42,928,389
93$55,984,901$8,466,028$4,408,952$47,097,338
94$61,601,947$8,787,450$4,463,239$51,684,825
95$67,788,990$9,121,679$4,516,402$56,733,319
96$74,604,076$9,469,250$4,568,310$62,289,611
97$82,111,170$9,830,722$4,618,826$68,405,260
98$90,380,758$10,206,676$4,667,806$75,137,073
99$99,490,513$10,597,720$4,715,095$82,547,644
100$109,526,027$11,004,490$4,760,532$90,705,940