Can I retire at age 60 with 2,480,000?

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 $2,480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$204,796$202,972$201,192$199,455$197,759$196,184
2 years$101,384$99,496$97,666$95,892$94,171$92,583
3 years$66,918$65,022$63,196$61,439$59,746$58,195
4 years$49,688$47,798$45,991$44,263$42,611$41,109
5 years$39,353$37,474$35,691$33,998$32,392$30,943
6 years$32,465$30,600$28,843$27,189$25,631$24,236
7 years$27,548$25,698$23,969$22,353$20,845$19,505
8 years$23,861$22,028$20,328$18,752$17,293$16,009
9 years$20,995$19,179$17,508$15,972$14,563$13,334
10 years$18,703$16,906$15,264$13,768$12,408$11,234
11 years$16,830$15,050$13,438$11,983$10,672$9,550
12 years$15,270$13,508$11,926$10,510$9,248$8,179
13 years$13,950$12,207$10,655$9,279$8,064$7,046
14 years$12,821$11,096$9,574$8,237$7,069$6,101
15 years$11,842$10,137$8,644$7,346$6,224$5,305
16 years$10,987$9,300$7,837$6,577$5,501$4,629
17 years$10,234$8,565$7,131$5,910$4,878$4,051
18 years$9,564$7,915$6,510$5,326$4,337$3,555
19 years$8,966$7,335$5,959$4,812$3,866$3,126
20 years$8,429$6,816$5,469$4,359$3,453$2,755
21 years$7,943$6,349$5,031$3,956$3,090$2,431
22 years$7,502$5,927$4,637$3,597$2,770$2,149
23 years$7,100$5,543$4,281$3,275$2,486$1,902
24 years$6,732$5,193$3,959$2,987$2,235$1,685
25 years$6,394$4,874$3,667$2,728$2,011$1,494
26 years$6,082$4,581$3,401$2,495$1,811$1,326
27 years$5,794$4,311$3,158$2,283$1,633$1,178
28 years$5,527$4,062$2,936$2,092$1,474$1,047
29 years$5,279$3,832$2,732$1,918$1,331$931
30 years$5,048$3,619$2,545$1,761$1,202$829
31 years$4,832$3,421$2,373$1,617$1,087$738
32 years$4,631$3,237$2,214$1,486$983$657
33 years$4,441$3,066$2,067$1,367$890$586
34 years$4,264$2,905$1,931$1,257$806$522
35 years$4,096$2,756$1,805$1,157$730$465
36 years$3,939$2,616$1,689$1,066$661$415
37 years$3,790$2,484$1,581$982$599$370
38 years$3,650$2,361$1,480$905$543$330
39 years$3,517$2,245$1,387$835$493$295
40 years$3,391$2,136$1,300$770$447$263
41 years$3,271$2,033$1,219$710$405$235
42 years$3,157$1,936$1,143$656$368$210
43 years$3,049$1,845$1,073$605$334$187
44 years$2,947$1,759$1,007$559$303$167
45 years$2,849$1,677$946$516$275$149
46 years$2,755$1,600$888$477$250$133
47 years$2,666$1,527$834$440$227$119
48 years$2,581$1,457$784$407$206$106
49 years$2,499$1,392$737$376$187$95
50 years$2,421$1,330$693$348$170$85

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,480,000, adding $5,655 every year, while hoping to spend $56,611 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: 37/41/22 Blend
59$2,480,000$2,480,000$2,480,000$2,480,000
60$2,738,793$2,607,353$2,568,913$2,821,825
61$2,957,916$2,674,880$2,594,738$2,950,393
62$3,197,493$2,743,818$2,619,531$3,083,488
63$3,459,549$2,814,177$2,643,197$3,226,108
64$3,746,316$2,885,965$2,665,637$3,379,143
65$4,060,251$2,959,187$2,686,747$3,543,575
66$4,404,059$3,033,850$2,706,415$3,720,483
67$4,780,720$3,109,956$2,724,527$3,911,058
68$5,193,516$3,187,506$2,740,961$4,116,610
69$5,646,058$3,266,498$2,755,587$4,338,583
70$6,142,329$3,346,929$2,768,272$4,578,568
71$6,686,711$3,428,793$2,778,873$4,838,317
72$7,284,033$3,512,081$2,787,243$5,119,762
73$7,939,612$3,596,781$2,793,224$5,425,030
74$8,659,308$3,682,879$2,796,652$5,756,468
75$9,449,574$3,770,356$2,797,356$6,116,659
76$10,317,517$3,859,190$2,795,154$6,508,451
77$11,270,969$3,949,356$2,789,858$6,934,984
78$12,318,558$4,040,824$2,781,267$7,399,717
79$13,469,785$4,133,559$2,769,174$7,906,463
80$14,735,122$4,227,522$2,753,360$8,459,425
81$16,126,103$4,322,669$2,733,597$9,063,234
82$17,655,436$4,418,950$2,709,642$9,722,998
83$19,337,121$4,516,310$2,681,247$10,444,342
84$21,186,585$4,614,686$2,648,146$11,233,472
85$23,220,822$4,714,012$2,610,064$12,097,225
86$25,458,557$4,814,209$2,566,713$13,043,136
87$27,920,422$4,915,197$2,517,789$14,079,516
88$30,629,147$5,016,884$2,462,977$15,215,520
89$33,609,778$5,119,169$2,401,945$16,461,244
90$36,889,912$5,221,946$2,334,347$17,827,814
91$40,499,956$5,325,094$2,259,820$19,327,495
92$44,473,414$5,428,485$2,177,986$20,973,807
93$48,847,201$5,531,981$2,088,448$22,781,653
94$53,661,997$5,635,428$1,990,792$24,767,459
95$58,962,621$5,738,665$1,884,584$26,949,332
96$64,798,463$5,841,514$1,769,372$29,347,232
97$71,223,942$5,943,785$1,644,683$31,983,159
98$78,299,026$6,045,272$1,510,021$34,881,362
99$86,089,791$6,145,754$1,364,871$38,068,572
100$94,669,048$6,244,995$1,208,693$41,574,252