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%19.7%
1 years$205,622$203,790$202,003$200,259$198,556$190,829
2 years$101,793$99,897$98,060$96,278$94,551$86,859
3 years$67,188$65,284$63,451$61,687$59,987$52,573
4 years$49,889$47,991$46,176$44,442$42,783$35,703
5 years$39,512$37,625$35,835$34,135$32,523$25,795
6 years$32,596$30,724$28,960$27,298$25,734$19,363
7 years$27,659$25,802$24,066$22,444$20,929$14,912
8 years$23,957$22,117$20,410$18,827$17,363$11,695
9 years$21,079$19,257$17,579$16,037$14,622$9,294
10 years$18,779$16,974$15,326$13,824$12,458$7,461
11 years$16,898$15,111$13,492$12,031$10,715$6,036
12 years$15,331$13,563$11,974$10,553$9,285$4,913
13 years$14,007$12,257$10,698$9,316$8,097$4,018
14 years$12,872$11,141$9,612$8,270$7,098$3,299
15 years$11,890$10,178$8,679$7,375$6,249$2,716
16 years$11,032$9,338$7,868$6,604$5,523$2,243
17 years$10,275$8,600$7,160$5,934$4,897$1,855
18 years$9,603$7,946$6,536$5,347$4,354$1,538
19 years$9,002$7,365$5,984$4,832$3,881$1,276
20 years$8,463$6,844$5,491$4,376$3,467$1,060
21 years$7,975$6,375$5,051$3,972$3,102$881
22 years$7,532$5,950$4,655$3,611$2,781$734
23 years$7,129$5,565$4,298$3,289$2,496$611
24 years$6,759$5,214$3,975$2,999$2,244$509
25 years$6,420$4,893$3,682$2,739$2,019$424
26 years$6,107$4,599$3,415$2,505$1,819$354
27 years$5,818$4,328$3,171$2,293$1,640$295
28 years$5,550$4,078$2,948$2,100$1,479$246
29 years$5,301$3,848$2,743$1,926$1,336$205
30 years$5,069$3,634$2,555$1,768$1,207$171
31 years$4,852$3,435$2,382$1,624$1,091$143
32 years$4,649$3,250$2,223$1,492$987$120
33 years$4,459$3,078$2,075$1,372$893$100
34 years$4,281$2,917$1,939$1,262$809$83
35 years$4,113$2,767$1,813$1,162$733$70
36 years$3,955$2,626$1,696$1,070$664$58
37 years$3,805$2,494$1,587$986$602$49
38 years$3,664$2,370$1,486$909$545$41
39 years$3,531$2,254$1,393$838$495$34
40 years$3,404$2,145$1,305$773$449$28
41 years$3,284$2,041$1,224$713$407$24
42 years$3,170$1,944$1,148$658$369$20
43 years$3,062$1,852$1,077$608$335$16
44 years$2,958$1,766$1,011$561$304$14
45 years$2,860$1,684$950$518$276$12
46 years$2,766$1,606$892$479$251$10
47 years$2,677$1,533$838$442$228$8
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 $2,865 every year, while hoping to spend $29,217 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: 73/7/20 Blend
59$2,490,000$2,490,000$2,490,000$2,490,000
60$2,746,935$2,614,965$2,576,370$2,934,102
61$2,996,036$2,712,012$2,631,592$3,155,914
62$3,269,566$2,812,835$2,687,684$3,395,038
63$3,569,986$2,917,588$2,744,646$3,656,265
64$3,900,006$3,026,431$2,802,474$3,941,787
65$4,262,614$3,139,534$2,861,164$4,254,018
66$4,661,100$3,257,070$2,920,712$4,595,617
67$5,099,087$3,379,222$2,981,111$4,969,511
68$5,580,570$3,506,180$3,042,354$5,378,926
69$6,109,947$3,638,142$3,104,432$5,827,413
70$6,692,066$3,775,315$3,167,335$6,318,885
71$7,332,267$3,917,915$3,231,050$6,857,652
72$8,036,432$4,066,167$3,295,565$7,448,459
73$8,811,046$4,220,306$3,360,863$8,096,536
74$9,663,248$4,380,578$3,426,929$8,807,644
75$10,600,911$4,547,237$3,493,742$9,588,128
76$11,632,703$4,720,551$3,561,281$10,444,978
77$12,768,178$4,900,797$3,629,524$11,385,896
78$14,017,864$5,088,268$3,698,444$12,419,366
79$15,393,358$5,283,266$3,768,015$13,554,736
80$16,907,442$5,486,107$3,838,204$14,802,303
81$18,574,197$5,697,122$3,908,980$16,173,414
82$20,409,140$5,916,656$3,980,306$17,680,570
83$22,429,369$6,145,069$4,052,143$19,337,543
84$24,653,725$6,382,737$4,124,449$21,159,510
85$27,102,966$6,630,052$4,197,180$23,163,189
86$29,799,968$6,887,424$4,270,285$25,367,004
87$32,769,938$7,155,282$4,343,713$27,791,252
88$36,040,652$7,434,071$4,417,408$30,458,300
89$39,642,717$7,724,258$4,491,309$33,392,793
90$43,609,859$8,026,331$4,565,352$36,621,883
91$47,979,241$8,340,799$4,639,469$40,175,491
92$52,791,819$8,668,193$4,713,586$44,086,587
93$58,092,717$9,009,067$4,787,624$48,391,499
94$63,931,666$9,364,003$4,861,501$53,130,257
95$70,363,462$9,733,606$4,935,128$58,346,969
96$77,448,491$10,118,508$5,008,410$64,090,240
97$85,253,294$10,519,371$5,081,248$70,413,627
98$93,851,195$10,936,886$5,153,535$77,376,148
99$103,322,997$11,371,774$5,225,159$85,042,834
100$113,757,742$11,824,789$5,296,001$93,485,345