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

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 $2,490,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$205,622$203,790$202,003$200,259$198,556$192,974
2 years$101,793$99,897$98,060$96,278$94,551$88,969
3 years$67,188$65,284$63,451$61,687$59,987$54,581
4 years$49,889$47,991$46,176$44,442$42,783$37,594
5 years$39,512$37,625$35,835$34,135$32,523$27,565
6 years$32,596$30,724$28,960$27,298$25,734$21,013
7 years$27,659$25,802$24,066$22,444$20,929$16,443
8 years$23,957$22,117$20,410$18,827$17,363$13,111
9 years$21,079$19,257$17,579$16,037$14,622$10,599
10 years$18,779$16,974$15,326$13,824$12,458$8,660
11 years$16,898$15,111$13,492$12,031$10,715$7,134
12 years$15,331$13,563$11,974$10,553$9,285$5,916
13 years$14,007$12,257$10,698$9,316$8,097$4,931
14 years$12,872$11,141$9,612$8,270$7,098$4,128
15 years$11,890$10,178$8,679$7,375$6,249$3,468
16 years$11,032$9,338$7,868$6,604$5,523$2,922
17 years$10,275$8,600$7,160$5,934$4,897$2,467
18 years$9,603$7,946$6,536$5,347$4,354$2,088
19 years$9,002$7,365$5,984$4,832$3,881$1,770
20 years$8,463$6,844$5,491$4,376$3,467$1,502
21 years$7,975$6,375$5,051$3,972$3,102$1,276
22 years$7,532$5,950$4,655$3,611$2,781$1,086
23 years$7,129$5,565$4,298$3,289$2,496$924
24 years$6,759$5,214$3,975$2,999$2,244$787
25 years$6,420$4,893$3,682$2,739$2,019$671
26 years$6,107$4,599$3,415$2,505$1,819$572
27 years$5,818$4,328$3,171$2,293$1,640$488
28 years$5,550$4,078$2,948$2,100$1,479$417
29 years$5,301$3,848$2,743$1,926$1,336$356
30 years$5,069$3,634$2,555$1,768$1,207$304
31 years$4,852$3,435$2,382$1,624$1,091$260
32 years$4,649$3,250$2,223$1,492$987$222
33 years$4,459$3,078$2,075$1,372$893$190
34 years$4,281$2,917$1,939$1,262$809$162
35 years$4,113$2,767$1,813$1,162$733$139
36 years$3,955$2,626$1,696$1,070$664$118
37 years$3,805$2,494$1,587$986$602$101
38 years$3,664$2,370$1,486$909$545$87
39 years$3,531$2,254$1,393$838$495$74
40 years$3,404$2,145$1,305$773$449$63
41 years$3,284$2,041$1,224$713$407$54
42 years$3,170$1,944$1,148$658$369$46
43 years$3,062$1,852$1,077$608$335$40
44 years$2,958$1,766$1,011$561$304$34
45 years$2,860$1,684$950$518$276$29
46 years$2,766$1,606$892$479$251$25
47 years$2,677$1,533$838$442$228$21
48 years$2,591$1,463$787$409$207$18
49 years$2,509$1,397$740$378$188$16
50 years$2,431$1,335$696$349$171$13

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 $2,664 every year, while hoping to spend $34,394 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: 48/29/23 Blend
59$2,490,000$2,490,000$2,490,000$2,490,000
60$2,746,728$2,614,758$2,576,163$2,860,517
61$2,990,299$2,706,286$2,625,869$3,031,804
62$3,257,562$2,801,146$2,676,088$3,214,052
63$3,550,897$2,899,466$2,726,801$3,411,263
64$3,872,925$3,001,376$2,777,985$3,624,859
65$4,226,535$3,107,015$2,829,619$3,856,404
66$4,614,908$3,216,526$2,881,678$4,107,619
67$5,041,549$3,330,056$2,934,135$4,380,397
68$5,510,319$3,447,761$2,986,960$4,676,820
69$6,025,471$3,569,801$3,040,123$4,999,179
70$6,591,692$3,696,344$3,093,590$5,349,997
71$7,214,143$3,827,563$3,147,324$5,732,047
72$7,898,512$3,963,640$3,201,286$6,148,386
73$8,651,066$4,104,764$3,255,434$6,602,374
74$9,478,707$4,251,130$3,309,724$7,097,713
75$10,389,043$4,402,943$3,364,107$7,638,476
76$11,390,453$4,560,415$3,418,533$8,229,150
77$12,492,172$4,723,768$3,472,946$8,874,673
78$13,704,372$4,893,232$3,527,289$9,580,483
79$15,038,264$5,069,046$3,581,499$10,352,568
80$16,506,199$5,251,461$3,635,511$11,197,520
81$18,121,785$5,440,736$3,689,254$12,122,602
82$19,900,017$5,637,142$3,742,654$13,135,810
83$21,857,417$5,840,961$3,795,632$14,245,950
84$24,012,192$6,052,486$3,848,104$15,462,723
85$26,384,402$6,272,024$3,899,981$16,796,811
86$28,996,150$6,499,893$3,951,170$18,259,981
87$31,871,794$6,736,424$4,001,570$19,865,194
88$35,038,172$6,981,963$4,051,078$21,626,728
89$38,524,857$7,236,871$4,099,580$23,560,308
90$42,364,436$7,501,522$4,146,960$25,683,259
91$46,592,819$7,776,307$4,193,094$28,014,664
92$51,249,575$8,061,634$4,237,850$30,575,546
93$56,378,304$8,357,926$4,281,091$33,389,067
94$62,027,054$8,665,628$4,322,671$36,480,739
95$68,248,769$8,985,199$4,362,435$39,878,674
96$75,101,789$9,317,120$4,400,223$43,613,838
97$82,650,405$9,661,891$4,435,864$47,720,351
98$90,965,458$10,020,037$4,469,177$52,235,801
99$100,125,016$10,392,099$4,499,976$57,201,604
100$110,215,102$10,778,647$4,528,060$62,663,389