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%16.2%
1 years$203,145$201,335$199,570$197,846$196,164$191,189
2 years$100,567$98,694$96,878$95,118$93,411$88,432
3 years$66,378$64,497$62,687$60,943$59,264$54,435
4 years$49,288$47,412$45,620$43,906$42,268$37,627
5 years$39,036$37,172$35,403$33,724$32,131$27,691
6 years$32,204$30,354$28,611$26,970$25,424$21,189
7 years$27,325$25,491$23,776$22,173$20,677$16,647
8 years$23,668$21,850$20,164$18,600$17,153$13,328
9 years$20,825$19,025$17,367$15,843$14,446$10,821
10 years$18,552$16,769$15,141$13,657$12,308$8,880
11 years$16,694$14,929$13,330$11,886$10,586$7,348
12 years$15,146$13,399$11,830$10,426$9,173$6,121
13 years$13,838$12,109$10,569$9,204$7,999$5,126
14 years$12,717$11,007$9,496$8,170$7,012$4,312
15 years$11,747$10,055$8,574$7,287$6,174$3,640
16 years$10,899$9,225$7,774$6,524$5,457$3,082
17 years$10,151$8,496$7,074$5,862$4,838$2,616
18 years$9,487$7,851$6,457$5,283$4,302$2,225
19 years$8,894$7,276$5,911$4,774$3,834$1,896
20 years$8,361$6,761$5,425$4,323$3,425$1,618
21 years$7,879$6,298$4,990$3,924$3,065$1,382
22 years$7,441$5,879$4,599$3,568$2,747$1,182
23 years$7,043$5,498$4,247$3,249$2,466$1,012
24 years$6,678$5,152$3,927$2,963$2,217$867
25 years$6,342$4,834$3,637$2,706$1,995$743
26 years$6,033$4,544$3,374$2,474$1,797$637
27 years$5,748$4,276$3,133$2,265$1,620$547
28 years$5,483$4,029$2,912$2,075$1,462$470
29 years$5,237$3,801$2,710$1,903$1,320$403
30 years$5,007$3,590$2,524$1,746$1,193$346
31 years$4,793$3,394$2,353$1,604$1,078$298
32 years$4,593$3,211$2,196$1,474$975$256
33 years$4,405$3,041$2,050$1,356$883$220
34 years$4,229$2,882$1,916$1,247$799$189
35 years$4,063$2,734$1,791$1,148$724$163
36 years$3,907$2,595$1,675$1,057$656$140
37 years$3,760$2,464$1,568$974$594$120
38 years$3,620$2,342$1,468$898$539$103
39 years$3,488$2,227$1,376$828$489$89
40 years$3,363$2,119$1,290$764$443$77
41 years$3,245$2,017$1,209$705$402$66
42 years$3,132$1,921$1,134$650$365$57
43 years$3,025$1,830$1,064$600$331$49
44 years$2,923$1,744$999$554$301$42
45 years$2,826$1,664$938$512$273$36
46 years$2,733$1,587$881$473$248$31
47 years$2,645$1,514$828$437$225$27
48 years$2,560$1,446$778$404$204$23
49 years$2,479$1,381$731$373$186$20
50 years$2,402$1,319$687$345$169$17

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 $2,929 every year, while hoping to spend $42,559 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: 68/8/24 Blend
59$2,460,000$2,460,000$2,460,000$2,460,000
60$2,713,941$2,583,561$2,545,431$2,881,655
61$2,945,481$2,664,873$2,585,421$3,075,832
62$3,199,211$2,748,743$2,625,324$3,283,019
63$3,477,350$2,835,252$2,665,092$3,508,689
64$3,782,342$2,924,481$2,704,674$3,754,667
65$4,116,878$3,016,517$2,744,018$4,022,965
66$4,483,921$3,111,448$2,783,064$4,315,795
67$4,886,737$3,209,366$2,821,753$4,635,599
68$5,328,923$3,310,363$2,860,020$4,985,062
69$5,814,439$3,414,536$2,897,796$5,367,144
70$6,347,649$3,521,986$2,935,010$5,785,107
71$6,933,362$3,632,816$2,971,585$6,242,543
72$7,576,871$3,747,131$3,007,440$6,743,409
73$8,284,013$3,865,041$3,042,490$7,292,064
74$9,061,214$3,986,659$3,076,645$7,893,313
75$9,915,554$4,112,102$3,109,809$8,552,449
76$10,854,835$4,241,489$3,141,882$9,275,301
77$11,887,651$4,374,945$3,172,758$10,068,295
78$13,023,472$4,512,598$3,202,326$10,938,510
79$14,272,730$4,654,579$3,230,468$11,893,746
80$15,646,919$4,801,024$3,257,059$12,942,596
81$17,158,704$4,952,074$3,281,970$14,094,532
82$18,822,039$5,107,873$3,305,063$15,359,987
83$20,652,299$5,268,570$3,326,194$16,750,459
84$22,666,422$5,434,319$3,345,211$18,278,619
85$24,883,076$5,605,279$3,361,954$19,958,427
86$27,322,825$5,781,614$3,376,255$21,805,267
87$30,008,332$5,963,491$3,387,938$23,836,092
88$32,964,566$6,151,086$3,396,818$26,069,580
89$36,219,040$6,344,578$3,402,700$28,526,318
90$39,802,071$6,544,151$3,405,379$31,228,987
91$43,747,065$6,749,997$3,404,642$34,202,585
92$48,090,832$6,962,313$3,400,264$37,474,655
93$52,873,932$7,181,302$3,392,008$41,075,553
94$58,141,060$7,407,173$3,379,628$45,038,725
95$63,941,466$7,640,142$3,362,863$49,401,032
96$70,329,419$7,880,433$3,341,442$54,203,094
97$77,364,720$8,128,274$3,315,081$59,489,670
98$85,113,265$8,383,903$3,283,479$65,310,088
99$93,647,667$8,647,564$3,246,326$71,718,705
100$103,047,944$8,919,509$3,203,292$78,775,420