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%18.3%
1 years$201,493$199,698$197,947$196,238$194,569$188,040
2 years$99,749$97,891$96,091$94,345$92,652$86,138
3 years$65,839$63,973$62,177$60,448$58,782$52,489
4 years$48,887$47,027$45,249$43,549$41,924$35,899
5 years$38,719$36,870$35,115$33,450$31,870$26,129
6 years$31,942$30,107$28,378$26,750$25,218$19,765
7 years$27,103$25,284$23,582$21,993$20,509$15,344
8 years$23,476$21,673$20,000$18,449$17,014$12,134
9 years$20,656$18,870$17,226$15,715$14,328$9,726
10 years$18,402$16,633$15,018$13,546$12,208$7,877
11 years$16,558$14,807$13,221$11,789$10,500$6,431
12 years$15,023$13,290$11,734$10,341$9,099$5,283
13 years$13,725$12,011$10,483$9,129$7,934$4,363
14 years$12,614$10,917$9,419$8,104$6,955$3,617
15 years$11,651$9,973$8,504$7,227$6,124$3,008
16 years$10,810$9,150$7,710$6,471$5,412$2,509
17 years$10,069$8,427$7,016$5,814$4,799$2,097
18 years$9,410$7,787$6,405$5,240$4,267$1,756
19 years$8,822$7,217$5,863$4,735$3,803$1,473
20 years$8,293$6,706$5,381$4,288$3,397$1,237
21 years$7,815$6,247$4,950$3,892$3,040$1,040
22 years$7,381$5,831$4,562$3,539$2,725$875
23 years$6,985$5,454$4,212$3,223$2,446$737
24 years$6,623$5,110$3,895$2,939$2,199$621
25 years$6,291$4,795$3,608$2,684$1,978$523
26 years$5,984$4,507$3,346$2,454$1,782$441
27 years$5,701$4,241$3,107$2,247$1,607$372
28 years$5,438$3,997$2,889$2,058$1,450$314
29 years$5,194$3,770$2,688$1,888$1,309$265
30 years$4,967$3,561$2,504$1,732$1,183$224
31 years$4,754$3,366$2,334$1,591$1,069$189
32 years$4,556$3,185$2,178$1,462$967$160
33 years$4,370$3,016$2,033$1,345$875$135
34 years$4,195$2,859$1,900$1,237$793$114
35 years$4,030$2,711$1,776$1,139$718$96
36 years$3,875$2,573$1,662$1,049$650$81
37 years$3,729$2,444$1,555$966$590$69
38 years$3,591$2,323$1,457$891$534$58
39 years$3,460$2,209$1,365$821$485$49
40 years$3,336$2,102$1,279$758$440$41
41 years$3,218$2,000$1,199$699$399$35
42 years$3,106$1,905$1,125$645$362$30
43 years$3,000$1,815$1,056$595$328$25
44 years$2,899$1,730$991$550$298$21
45 years$2,803$1,650$930$508$271$18
46 years$2,711$1,574$874$469$246$15
47 years$2,623$1,502$821$433$223$13
48 years$2,539$1,434$772$400$203$11
49 years$2,459$1,369$725$370$184$9
50 years$2,382$1,308$682$342$167$8

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 $5,575 every year, while hoping to spend $48,771 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: 69/7/24 Blend
59$2,440,000$2,440,000$2,440,000$2,440,000
60$2,694,631$2,565,311$2,527,491$2,863,762
61$2,917,591$2,639,119$2,560,270$3,051,565
62$3,161,659$2,714,909$2,592,512$3,250,846
63$3,428,935$2,792,727$2,624,149$3,467,777
64$3,721,735$2,872,619$2,655,106$3,704,103
65$4,042,606$2,954,631$2,685,306$3,961,747
66$4,394,355$3,038,812$2,714,667$4,242,826
67$4,780,074$3,125,209$2,743,104$4,549,673
68$5,203,168$3,213,870$2,770,524$4,884,857
69$5,667,386$3,304,844$2,796,831$5,251,211
70$6,176,860$3,398,182$2,821,925$5,651,854
71$6,736,139$3,493,932$2,845,699$6,090,224
72$7,350,235$3,592,145$2,868,040$6,570,106
73$8,024,670$3,692,871$2,888,830$7,095,674
74$8,765,526$3,796,161$2,907,946$7,671,526
75$9,579,503$3,902,067$2,925,255$8,302,728
76$10,473,982$4,010,638$2,940,621$8,994,863
77$11,457,095$4,121,926$2,953,899$9,754,081
78$12,537,801$4,235,982$2,964,937$10,587,160
79$13,725,970$4,352,858$2,973,575$11,501,571
80$15,032,475$4,472,604$2,979,646$12,505,544
81$16,469,297$4,595,272$2,982,973$13,608,149
82$18,049,635$4,720,910$2,983,373$14,819,380
83$19,788,032$4,849,569$2,980,651$16,150,252
84$21,700,512$4,981,299$2,974,603$17,612,901
85$23,804,730$5,116,148$2,965,017$19,220,703
86$26,120,136$5,254,163$2,951,670$20,988,397
87$28,668,165$5,395,392$2,934,325$22,932,226
88$31,472,432$5,539,880$2,912,739$25,070,089
89$34,558,957$5,687,671$2,886,653$27,421,713
90$37,956,413$5,838,809$2,855,798$30,008,833
91$41,696,391$5,993,335$2,819,891$32,855,407
92$45,813,702$6,151,287$2,778,637$35,987,833
93$50,346,703$6,312,704$2,731,725$39,435,204
94$55,337,661$6,477,621$2,678,832$43,229,580
95$60,833,148$6,646,070$2,619,618$47,406,292
96$66,884,482$6,818,080$2,553,729$52,004,277
97$73,548,213$6,993,680$2,480,792$57,066,444
98$80,886,652$7,172,891$2,400,420$62,640,078
99$88,968,462$7,355,734$2,312,205$68,777,292
100$97,869,304$7,542,225$2,215,724$75,535,512