Can I retire at age 60 with 2,460,000?

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 $2,460,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$203,145$201,335$199,570$197,846$196,164$188,381
2 years$100,567$98,694$96,878$95,118$93,411$85,667
3 years$66,378$64,497$62,687$60,943$59,264$51,801
4 years$49,288$47,412$45,620$43,906$42,268$35,144
5 years$39,036$37,172$35,403$33,724$32,131$25,364
6 years$32,204$30,354$28,611$26,970$25,424$19,019
7 years$27,325$25,491$23,776$22,173$20,677$14,630
8 years$23,668$21,850$20,164$18,600$17,153$11,460
9 years$20,825$19,025$17,367$15,843$14,446$9,096
10 years$18,552$16,769$15,141$13,657$12,308$7,293
11 years$16,694$14,929$13,330$11,886$10,586$5,892
12 years$15,146$13,399$11,830$10,426$9,173$4,789
13 years$13,838$12,109$10,569$9,204$7,999$3,912
14 years$12,717$11,007$9,496$8,170$7,012$3,207
15 years$11,747$10,055$8,574$7,287$6,174$2,637
16 years$10,899$9,225$7,774$6,524$5,457$2,174
17 years$10,151$8,496$7,074$5,862$4,838$1,796
18 years$9,487$7,851$6,457$5,283$4,302$1,486
19 years$8,894$7,276$5,911$4,774$3,834$1,231
20 years$8,361$6,761$5,425$4,323$3,425$1,021
21 years$7,879$6,298$4,990$3,924$3,065$848
22 years$7,441$5,879$4,599$3,568$2,747$705
23 years$7,043$5,498$4,247$3,249$2,466$586
24 years$6,678$5,152$3,927$2,963$2,217$487
25 years$6,342$4,834$3,637$2,706$1,995$406
26 years$6,033$4,544$3,374$2,474$1,797$338
27 years$5,748$4,276$3,133$2,265$1,620$281
28 years$5,483$4,029$2,912$2,075$1,462$234
29 years$5,237$3,801$2,710$1,903$1,320$195
30 years$5,007$3,590$2,524$1,746$1,193$163
31 years$4,793$3,394$2,353$1,604$1,078$136
32 years$4,593$3,211$2,196$1,474$975$113
33 years$4,405$3,041$2,050$1,356$883$94
34 years$4,229$2,882$1,916$1,247$799$79
35 years$4,063$2,734$1,791$1,148$724$65
36 years$3,907$2,595$1,675$1,057$656$55
37 years$3,760$2,464$1,568$974$594$46
38 years$3,620$2,342$1,468$898$539$38
39 years$3,488$2,227$1,376$828$489$32
40 years$3,363$2,119$1,290$764$443$26
41 years$3,245$2,017$1,209$705$402$22
42 years$3,132$1,921$1,134$650$365$18
43 years$3,025$1,830$1,064$600$331$15
44 years$2,923$1,744$999$554$301$13
45 years$2,826$1,664$938$512$273$11
46 years$2,733$1,587$881$473$248$9
47 years$2,645$1,514$828$437$225$7
48 years$2,560$1,446$778$404$204$6
49 years$2,479$1,381$731$373$186$5
50 years$2,402$1,319$687$345$169$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,460,000, adding $5,336 every year, while hoping to spend $22,329 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: 63/23/14 Blend
59$2,460,000$2,460,000$2,460,000$2,460,000
60$2,716,424$2,586,044$2,547,914$2,878,056
61$2,969,741$2,689,002$2,609,511$3,090,024
62$3,248,149$2,796,257$2,672,424$3,318,352
63$3,554,182$2,907,996$2,736,672$3,567,135
64$3,890,634$3,024,413$2,802,276$3,838,365
65$4,260,583$3,145,713$2,869,256$4,134,229
66$4,667,419$3,272,110$2,937,633$4,457,136
67$5,114,879$3,403,827$3,007,427$4,809,737
68$5,607,078$3,541,096$3,078,657$5,194,949
69$6,148,552$3,684,161$3,151,344$5,615,982
70$6,744,297$3,833,278$3,225,507$6,076,369
71$7,399,819$3,988,712$3,301,165$6,579,999
72$8,121,183$4,150,742$3,378,337$7,131,154
73$8,915,074$4,319,658$3,457,041$7,734,548
74$9,788,856$4,495,766$3,537,296$8,395,368
75$10,750,644$4,679,383$3,619,120$9,119,329
76$11,809,378$4,870,842$3,702,530$9,912,721
77$12,974,912$5,070,491$3,787,542$10,782,470
78$14,258,102$5,278,693$3,874,173$11,736,203
79$15,670,908$5,495,829$3,962,438$12,782,319
80$17,226,514$5,722,297$4,052,352$13,930,068
81$18,939,441$5,958,513$4,143,930$15,189,636
82$20,825,696$6,204,912$4,237,183$16,572,240
83$22,902,914$6,461,949$4,332,125$18,090,237
84$25,190,527$6,730,101$4,428,767$19,757,234
85$27,709,949$7,009,864$4,527,119$21,588,220
86$30,484,777$7,301,761$4,627,191$23,599,704
87$33,541,012$7,606,335$4,728,990$25,809,870
88$36,907,308$7,924,158$4,832,523$28,238,750
89$40,615,236$8,255,824$4,937,796$30,908,408
90$44,699,590$8,601,959$5,044,812$33,843,151
91$49,198,708$8,963,215$5,153,573$37,069,753
92$54,154,839$9,340,275$5,264,080$40,617,711
93$59,614,538$9,733,854$5,376,332$44,519,519
94$65,629,107$10,144,699$5,490,325$48,810,974
95$72,255,079$10,573,593$5,606,055$53,531,513
96$79,554,752$11,021,354$5,723,513$58,724,583
97$87,596,777$11,488,840$5,842,690$64,438,050
98$96,456,802$11,976,947$5,963,574$70,724,651
99$106,218,192$12,486,614$6,086,150$77,642,486
100$116,972,812$13,018,822$6,210,401$85,255,567