Can I retire at age 60 with 2,470,000?

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 $2,470,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$203,970$202,153$200,381$198,651$196,961$194,339
2 years$100,975$99,095$97,272$95,505$93,791$91,153
3 years$66,648$64,760$62,942$61,191$59,505$56,934
4 years$49,488$47,605$45,805$44,085$42,439$39,955
5 years$39,195$37,323$35,547$33,861$32,262$29,871
6 years$32,335$30,477$28,727$27,079$25,528$23,233
7 years$27,436$25,595$23,872$22,263$20,761$18,563
8 years$23,765$21,939$20,246$18,676$17,223$15,123
9 years$20,910$19,102$17,438$15,908$14,504$12,500
10 years$18,628$16,838$15,202$13,713$12,358$10,449
11 years$16,762$14,989$13,384$11,934$10,629$8,812
12 years$15,208$13,454$11,878$10,468$9,211$7,484
13 years$13,894$12,158$10,612$9,242$8,032$6,394
14 years$12,769$11,052$9,535$8,204$7,041$5,489
15 years$11,795$10,096$8,609$7,316$6,199$4,731
16 years$10,943$9,263$7,805$6,551$5,479$4,091
17 years$10,192$8,531$7,102$5,886$4,858$3,548
18 years$9,526$7,883$6,484$5,304$4,319$3,085
19 years$8,930$7,306$5,935$4,793$3,850$2,687
20 years$8,395$6,789$5,447$4,341$3,439$2,345
21 years$7,911$6,323$5,010$3,940$3,077$2,050
22 years$7,472$5,903$4,618$3,582$2,758$1,794
23 years$7,071$5,521$4,264$3,262$2,476$1,572
24 years$6,705$5,172$3,943$2,975$2,226$1,379
25 years$6,368$4,854$3,652$2,717$2,003$1,211
26 years$6,058$4,562$3,387$2,485$1,804$1,064
27 years$5,771$4,293$3,145$2,274$1,626$935
28 years$5,505$4,046$2,924$2,084$1,468$823
29 years$5,258$3,817$2,721$1,911$1,325$724
30 years$5,028$3,604$2,535$1,754$1,197$637
31 years$4,813$3,407$2,363$1,611$1,083$561
32 years$4,612$3,224$2,205$1,480$979$495
33 years$4,423$3,053$2,058$1,361$886$436
34 years$4,246$2,894$1,923$1,252$802$384
35 years$4,080$2,745$1,798$1,153$727$339
36 years$3,923$2,605$1,682$1,062$658$299
37 years$3,775$2,474$1,574$978$597$264
38 years$3,635$2,351$1,474$902$541$233
39 years$3,502$2,236$1,381$831$491$205
40 years$3,377$2,127$1,295$767$445$181
41 years$3,258$2,025$1,214$707$404$160
42 years$3,145$1,929$1,139$653$366$141
43 years$3,037$1,838$1,069$603$332$125
44 years$2,935$1,752$1,003$557$302$110
45 years$2,837$1,670$942$514$274$97
46 years$2,744$1,593$885$475$249$86
47 years$2,655$1,521$831$439$226$76
48 years$2,570$1,452$781$405$205$67
49 years$2,489$1,386$734$375$186$59
50 years$2,412$1,324$690$346$169$52

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,470,000, adding $2,794 every year, while hoping to spend $38,141 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: 32/38/30 Blend
59$2,470,000$2,470,000$2,470,000$2,470,000
60$2,724,822$2,593,912$2,555,627$2,787,062
61$2,962,172$2,680,432$2,600,659$2,921,876
62$3,222,454$2,769,913$2,645,921$3,063,443
63$3,507,965$2,862,460$2,691,381$3,215,193
64$3,821,239$2,958,182$2,737,003$3,378,051
65$4,165,064$3,057,191$2,782,751$3,553,034
66$4,542,511$3,159,605$2,828,584$3,741,261
67$4,956,966$3,265,544$2,874,460$3,943,959
68$5,412,155$3,375,134$2,920,333$4,162,479
69$5,912,185$3,488,506$2,966,154$4,398,306
70$6,461,580$3,605,794$3,011,873$4,653,073
71$7,065,323$3,727,140$3,057,432$4,928,578
72$7,728,905$3,852,689$3,102,775$5,226,795
73$8,458,374$3,982,592$3,147,839$5,549,899
74$9,260,394$4,117,005$3,192,558$5,900,282
75$10,142,307$4,256,091$3,236,862$6,280,576
76$11,112,202$4,400,019$3,280,676$6,693,678
77$12,178,991$4,548,965$3,323,923$7,142,777
78$13,352,493$4,703,108$3,366,519$7,631,381
79$14,643,526$4,862,639$3,408,376$8,163,353
80$16,064,010$5,027,753$3,449,401$8,742,948
81$17,627,079$5,198,654$3,489,497$9,374,845
82$19,347,205$5,375,551$3,528,558$10,064,202
83$21,240,331$5,558,664$3,566,476$10,816,694
84$23,324,027$5,748,221$3,603,135$11,638,571
85$25,617,652$5,944,458$3,638,414$12,536,716
86$28,142,535$6,147,619$3,672,184$13,518,710
87$30,922,180$6,357,959$3,704,309$14,592,901
88$33,982,487$6,575,743$3,734,647$15,768,482
89$37,351,991$6,801,245$3,763,048$17,055,581
90$41,062,138$7,034,750$3,789,354$18,465,350
91$45,147,578$7,276,555$3,813,400$20,010,075
92$49,646,491$7,526,966$3,835,009$21,703,290
93$54,600,951$7,786,305$3,853,999$23,559,901
94$60,057,316$8,054,902$3,870,177$25,596,329
95$66,066,673$8,333,104$3,883,339$27,830,665
96$72,685,316$8,621,267$3,893,272$30,282,835
97$79,975,275$8,919,766$3,899,753$32,974,796
98$88,004,905$9,228,987$3,902,548$35,930,732
99$96,849,531$9,549,333$3,901,408$39,177,291
100$106,592,154$9,881,222$3,896,077$42,743,828