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

Use the below retirement simulation to view the chances of a successful retirement.
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%18.9%
1 years$204,796$202,972$201,192$199,455$197,759$190,666
2 years$101,384$99,496$97,666$95,892$94,171$87,102
3 years$66,918$65,022$63,196$61,439$59,746$52,923
4 years$49,688$47,798$45,991$44,263$42,611$36,086
5 years$39,353$37,474$35,691$33,998$32,392$26,182
6 years$32,465$30,600$28,843$27,189$25,631$19,741
7 years$27,548$25,698$23,969$22,353$20,845$15,273
8 years$23,861$22,028$20,328$18,752$17,293$12,034
9 years$20,995$19,179$17,508$15,972$14,563$9,611
10 years$18,703$16,906$15,264$13,768$12,408$7,755
11 years$16,830$15,050$13,438$11,983$10,672$6,306
12 years$15,270$13,508$11,926$10,510$9,248$5,160
13 years$13,950$12,207$10,655$9,279$8,064$4,243
14 years$12,821$11,096$9,574$8,237$7,069$3,503
15 years$11,842$10,137$8,644$7,346$6,224$2,902
16 years$10,987$9,300$7,837$6,577$5,501$2,410
17 years$10,234$8,565$7,131$5,910$4,878$2,005
18 years$9,564$7,915$6,510$5,326$4,337$1,672
19 years$8,966$7,335$5,959$4,812$3,866$1,396
20 years$8,429$6,816$5,469$4,359$3,453$1,167
21 years$7,943$6,349$5,031$3,956$3,090$976
22 years$7,502$5,927$4,637$3,597$2,770$817
23 years$7,100$5,543$4,281$3,275$2,486$685
24 years$6,732$5,193$3,959$2,987$2,235$574
25 years$6,394$4,874$3,667$2,728$2,011$482
26 years$6,082$4,581$3,401$2,495$1,811$404
27 years$5,794$4,311$3,158$2,283$1,633$340
28 years$5,527$4,062$2,936$2,092$1,474$285
29 years$5,279$3,832$2,732$1,918$1,331$240
30 years$5,048$3,619$2,545$1,761$1,202$201
31 years$4,832$3,421$2,373$1,617$1,087$169
32 years$4,631$3,237$2,214$1,486$983$142
33 years$4,441$3,066$2,067$1,367$890$119
34 years$4,264$2,905$1,931$1,257$806$100
35 years$4,096$2,756$1,805$1,157$730$84
36 years$3,939$2,616$1,689$1,066$661$71
37 years$3,790$2,484$1,581$982$599$60
38 years$3,650$2,361$1,480$905$543$50
39 years$3,517$2,245$1,387$835$493$42
40 years$3,391$2,136$1,300$770$447$35
41 years$3,271$2,033$1,219$710$405$30
42 years$3,157$1,936$1,143$656$368$25
43 years$3,049$1,845$1,073$605$334$21
44 years$2,947$1,759$1,007$559$303$18
45 years$2,849$1,677$946$516$275$15
46 years$2,755$1,600$888$477$250$13
47 years$2,666$1,527$834$440$227$11
48 years$2,581$1,457$784$407$206$9
49 years$2,499$1,392$737$376$187$7
50 years$2,421$1,330$693$348$170$6

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 $5,593 every year, while hoping to spend $49,441 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: 25/49/26 Blend
59$2,480,000$2,480,000$2,480,000$2,480,000
60$2,738,729$2,607,289$2,568,849$2,784,632
61$2,965,475$2,682,442$2,602,301$2,898,117
62$3,213,691$2,759,619$2,635,216$3,015,112
63$3,485,517$2,838,869$2,667,525$3,139,516
64$3,783,305$2,920,240$2,699,152$3,271,984
65$4,109,649$3,003,779$2,730,021$3,413,232
66$4,467,405$3,089,535$2,760,048$3,564,051
67$4,859,716$3,177,559$2,789,146$3,725,309
68$5,290,048$3,267,899$2,817,223$3,897,962
69$5,762,214$3,360,608$2,844,181$4,083,061
70$6,280,417$3,455,735$2,869,919$4,281,762
71$6,849,287$3,553,333$2,894,328$4,495,339
72$7,473,922$3,653,454$2,917,296$4,725,192
73$8,159,939$3,756,150$2,938,702$4,972,864
74$8,913,525$3,861,474$2,958,421$5,240,053
75$9,741,498$3,969,479$2,976,321$5,528,630
76$10,651,365$4,080,218$2,992,262$5,840,652
77$11,651,400$4,193,745$3,006,099$6,178,387
78$12,750,718$4,310,113$3,017,678$6,544,333
79$13,959,358$4,429,376$3,026,837$6,941,240
80$15,288,383$4,551,586$3,033,407$7,372,138
81$16,749,982$4,676,798$3,037,210$7,840,364
82$18,357,583$4,805,063$3,038,059$8,349,596
83$20,125,981$4,936,436$3,035,759$8,903,883
84$22,071,477$5,070,967$3,030,103$9,507,689
85$24,212,032$5,208,709$3,020,876$10,165,930
86$26,567,435$5,349,712$3,007,851$10,884,024
87$29,159,492$5,494,026$2,990,792$11,667,940
88$32,012,227$5,641,700$2,969,451$12,524,256
89$35,152,113$5,792,782$2,943,566$13,460,219
90$38,608,318$5,947,318$2,912,865$14,483,817
91$42,412,983$6,105,353$2,877,062$15,603,850
92$46,601,521$6,266,930$2,835,858$16,830,017
93$51,212,957$6,432,090$2,788,940$18,173,007
94$56,290,289$6,600,873$2,735,980$19,644,598
95$61,880,898$6,773,315$2,676,635$21,257,769
96$68,036,992$6,949,450$2,610,545$23,026,826
97$74,816,102$7,129,309$2,537,334$24,967,533
98$82,281,619$7,312,920$2,456,610$27,097,264
99$90,503,399$7,500,308$2,367,961$29,435,167
100$99,558,416$7,691,494$2,270,958$32,002,343