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%14.4%
1 years$203,970$202,153$200,381$198,651$196,961$193,380
2 years$100,975$99,095$97,272$95,505$93,791$90,196
3 years$66,648$64,760$62,942$61,191$59,505$56,008
4 years$49,488$47,605$45,805$44,085$42,439$39,067
5 years$39,195$37,323$35,547$33,861$32,262$29,024
6 years$32,335$30,477$28,727$27,079$25,528$22,428
7 years$27,436$25,595$23,872$22,263$20,761$17,801
8 years$23,765$21,939$20,246$18,676$17,223$14,401
9 years$20,910$19,102$17,438$15,908$14,504$11,819
10 years$18,628$16,838$15,202$13,713$12,358$9,807
11 years$16,762$14,989$13,384$11,934$10,629$8,209
12 years$15,208$13,454$11,878$10,468$9,211$6,919
13 years$13,894$12,158$10,612$9,242$8,032$5,865
14 years$12,769$11,052$9,535$8,204$7,041$4,994
15 years$11,795$10,096$8,609$7,316$6,199$4,269
16 years$10,943$9,263$7,805$6,551$5,479$3,661
17 years$10,192$8,531$7,102$5,886$4,858$3,148
18 years$9,526$7,883$6,484$5,304$4,319$2,713
19 years$8,930$7,306$5,935$4,793$3,850$2,343
20 years$8,395$6,789$5,447$4,341$3,439$2,027
21 years$7,911$6,323$5,010$3,940$3,077$1,755
22 years$7,472$5,903$4,618$3,582$2,758$1,522
23 years$7,071$5,521$4,264$3,262$2,476$1,322
24 years$6,705$5,172$3,943$2,975$2,226$1,148
25 years$6,368$4,854$3,652$2,717$2,003$999
26 years$6,058$4,562$3,387$2,485$1,804$869
27 years$5,771$4,293$3,145$2,274$1,626$757
28 years$5,505$4,046$2,924$2,084$1,468$659
29 years$5,258$3,817$2,721$1,911$1,325$574
30 years$5,028$3,604$2,535$1,754$1,197$501
31 years$4,813$3,407$2,363$1,611$1,083$437
32 years$4,612$3,224$2,205$1,480$979$381
33 years$4,423$3,053$2,058$1,361$886$333
34 years$4,246$2,894$1,923$1,252$802$290
35 years$4,080$2,745$1,798$1,153$727$253
36 years$3,923$2,605$1,682$1,062$658$221
37 years$3,775$2,474$1,574$978$597$193
38 years$3,635$2,351$1,474$902$541$169
39 years$3,502$2,236$1,381$831$491$147
40 years$3,377$2,127$1,295$767$445$129
41 years$3,258$2,025$1,214$707$404$112
42 years$3,145$1,929$1,139$653$366$98
43 years$3,037$1,838$1,069$603$332$86
44 years$2,935$1,752$1,003$557$302$75
45 years$2,837$1,670$942$514$274$66
46 years$2,744$1,593$885$475$249$57
47 years$2,655$1,521$831$439$226$50
48 years$2,570$1,452$781$405$205$44
49 years$2,489$1,386$734$375$186$38
50 years$2,412$1,324$690$346$169$33

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 $6,670 every year, while hoping to spend $48,943 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: 69/19/12 Blend
59$2,470,000$2,470,000$2,470,000$2,470,000
60$2,728,820$2,597,910$2,559,625$2,909,598
61$2,955,085$2,673,133$2,593,298$3,105,749
62$3,202,788$2,750,401$2,626,458$3,313,748
63$3,474,065$2,829,763$2,659,037$3,540,022
64$3,771,267$2,911,269$2,690,962$3,786,358
65$4,096,983$2,994,968$2,722,156$4,054,728
66$4,454,066$3,080,911$2,752,538$4,347,299
67$4,845,655$3,169,151$2,782,023$4,666,460
68$5,275,210$3,259,738$2,810,519$5,014,839
69$5,746,542$3,352,725$2,837,932$5,395,334
70$6,263,848$3,448,167$2,864,161$5,811,134
71$6,831,750$3,546,117$2,889,100$6,265,753
72$7,455,341$3,646,629$2,912,638$6,763,059
73$8,140,231$3,749,760$2,934,657$7,307,315
74$8,892,601$3,855,564$2,955,033$7,903,215
75$9,719,257$3,964,097$2,973,637$8,555,932
76$10,627,699$4,075,416$2,990,333$9,271,163
77$11,626,191$4,189,578$3,004,975$10,055,185
78$12,723,834$4,306,639$3,017,414$10,914,911
79$13,930,658$4,426,658$3,027,490$11,857,959
80$15,257,712$4,549,690$3,035,037$12,892,721
81$16,717,167$4,675,794$3,039,880$14,028,444
82$18,322,438$4,805,027$3,041,835$15,275,314
83$20,088,299$4,937,446$3,040,709$16,644,556
84$22,031,033$5,073,108$3,036,301$18,148,536
85$24,168,578$5,212,070$3,028,397$19,800,879
86$26,520,700$5,354,388$3,016,775$21,616,598
87$29,109,176$5,500,118$3,001,201$23,612,236
88$31,958,003$5,649,315$2,981,433$25,806,020
89$35,093,620$5,802,033$2,957,212$28,218,032
90$38,545,162$5,958,325$2,928,271$30,870,403
91$42,344,728$6,118,242$2,894,327$33,787,519
92$46,527,691$6,281,837$2,855,088$36,996,248
93$51,133,026$6,449,157$2,810,244$40,526,198
94$56,203,679$6,620,251$2,759,472$44,409,996
95$61,786,974$6,795,163$2,702,434$48,683,592
96$67,935,057$6,973,937$2,638,777$53,386,603
97$74,705,388$7,156,615$2,568,131$58,562,681
98$82,161,282$7,343,233$2,490,108$64,259,931
99$90,372,509$7,533,829$2,404,303$70,531,363
100$99,415,951$7,728,433$2,310,293$77,435,389