Can I retire at age 60 with 2,490,000?

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 $2,490,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$205,622$203,790$202,003$200,259$198,556$191,056
2 years$101,793$99,897$98,060$96,278$94,551$87,081
3 years$67,188$65,284$63,451$61,687$59,987$52,783
4 years$49,889$47,991$46,176$44,442$42,783$35,900
5 years$39,512$37,625$35,835$34,135$32,523$25,979
6 years$32,596$30,724$28,960$27,298$25,734$19,533
7 years$27,659$25,802$24,066$22,444$20,929$15,069
8 years$23,957$22,117$20,410$18,827$17,363$11,839
9 years$21,079$19,257$17,579$16,037$14,622$9,426
10 years$18,779$16,974$15,326$13,824$12,458$7,581
11 years$16,898$15,111$13,492$12,031$10,715$6,145
12 years$15,331$13,563$11,974$10,553$9,285$5,012
13 years$14,007$12,257$10,698$9,316$8,097$4,107
14 years$12,872$11,141$9,612$8,270$7,098$3,379
15 years$11,890$10,178$8,679$7,375$6,249$2,789
16 years$11,032$9,338$7,868$6,604$5,523$2,307
17 years$10,275$8,600$7,160$5,934$4,897$1,913
18 years$9,603$7,946$6,536$5,347$4,354$1,589
19 years$9,002$7,365$5,984$4,832$3,881$1,322
20 years$8,463$6,844$5,491$4,376$3,467$1,100
21 years$7,975$6,375$5,051$3,972$3,102$917
22 years$7,532$5,950$4,655$3,611$2,781$765
23 years$7,129$5,565$4,298$3,289$2,496$639
24 years$6,759$5,214$3,975$2,999$2,244$533
25 years$6,420$4,893$3,682$2,739$2,019$446
26 years$6,107$4,599$3,415$2,505$1,819$373
27 years$5,818$4,328$3,171$2,293$1,640$312
28 years$5,550$4,078$2,948$2,100$1,479$261
29 years$5,301$3,848$2,743$1,926$1,336$218
30 years$5,069$3,634$2,555$1,768$1,207$182
31 years$4,852$3,435$2,382$1,624$1,091$153
32 years$4,649$3,250$2,223$1,492$987$128
33 years$4,459$3,078$2,075$1,372$893$107
34 years$4,281$2,917$1,939$1,262$809$90
35 years$4,113$2,767$1,813$1,162$733$75
36 years$3,955$2,626$1,696$1,070$664$63
37 years$3,805$2,494$1,587$986$602$53
38 years$3,664$2,370$1,486$909$545$44
39 years$3,531$2,254$1,393$838$495$37
40 years$3,404$2,145$1,305$773$449$31
41 years$3,284$2,041$1,224$713$407$26
42 years$3,170$1,944$1,148$658$369$22
43 years$3,062$1,852$1,077$608$335$18
44 years$2,958$1,766$1,011$561$304$15
45 years$2,860$1,684$950$518$276$13
46 years$2,766$1,606$892$479$251$11
47 years$2,677$1,533$838$442$228$9
48 years$2,591$1,463$787$409$207$7
49 years$2,509$1,397$740$378$188$6
50 years$2,431$1,335$696$349$171$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,490,000, adding $3,404 every year, while hoping to spend $20,322 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: 48/40/12 Blend
59$2,490,000$2,490,000$2,490,000$2,490,000
60$2,747,491$2,615,521$2,576,926$2,870,121
61$3,006,113$2,722,059$2,641,631$3,061,474
62$3,290,433$2,833,137$2,707,822$3,266,734
63$3,603,051$2,948,954$2,775,528$3,489,142
64$3,946,831$3,069,722$2,844,777$3,730,303
65$4,324,930$3,195,660$2,915,599$3,991,983
66$4,740,823$3,326,998$2,988,022$4,276,121
67$5,198,342$3,463,976$3,062,076$4,584,849
68$5,701,708$3,606,846$3,137,790$4,920,507
69$6,255,571$3,755,870$3,215,195$5,285,670
70$6,865,055$3,911,323$3,294,320$5,683,167
71$7,535,806$4,073,493$3,375,195$6,116,109
72$8,274,044$4,242,681$3,457,850$6,587,917
73$9,086,625$4,419,201$3,542,317$7,102,353
74$9,981,101$4,603,382$3,628,624$7,663,553
75$10,965,795$4,795,569$3,716,804$8,276,068
76$12,049,875$4,996,121$3,806,887$8,944,903
77$13,243,447$5,205,416$3,898,902$9,675,566
78$14,557,645$5,423,848$3,992,882$10,474,115
79$16,004,737$5,651,828$4,088,856$11,347,216
80$17,598,242$5,889,790$4,186,854$12,302,205
81$19,353,057$6,138,184$4,286,908$13,347,156
82$21,285,597$6,397,482$4,389,047$14,490,952
83$23,413,949$6,668,180$4,493,301$15,743,375
84$25,758,045$6,950,795$4,599,701$17,115,187
85$28,339,850$7,245,867$4,708,274$18,618,237
86$31,183,564$7,553,965$4,819,052$20,265,568
87$34,315,859$7,875,680$4,932,061$22,071,541
88$37,766,122$8,211,634$5,047,330$24,051,965
89$41,566,739$8,562,476$5,164,888$26,224,246
90$45,753,395$8,928,886$5,284,761$28,607,550
91$50,365,416$9,311,577$5,406,975$31,222,980
92$55,446,136$9,711,291$5,531,556$34,093,774
93$61,043,308$10,128,811$5,658,529$37,245,522
94$67,209,554$10,564,951$5,787,919$40,706,404
95$74,002,861$11,020,567$5,919,747$44,507,455
96$81,487,131$11,496,553$6,054,037$48,682,855
97$89,732,780$11,993,846$6,190,809$53,270,246
98$98,817,405$12,513,425$6,330,082$58,311,089
99$108,826,516$13,056,319$6,471,875$63,851,047
100$119,854,343$13,623,601$6,616,205$69,940,418