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%19.6%
1 years$205,622$203,790$202,003$200,259$198,556$190,904
2 years$101,793$99,897$98,060$96,278$94,551$86,933
3 years$67,188$65,284$63,451$61,687$59,987$52,643
4 years$49,889$47,991$46,176$44,442$42,783$35,769
5 years$39,512$37,625$35,835$34,135$32,523$25,856
6 years$32,596$30,724$28,960$27,298$25,734$19,420
7 years$27,659$25,802$24,066$22,444$20,929$14,964
8 years$23,957$22,117$20,410$18,827$17,363$11,742
9 years$21,079$19,257$17,579$16,037$14,622$9,338
10 years$18,779$16,974$15,326$13,824$12,458$7,501
11 years$16,898$15,111$13,492$12,031$10,715$6,072
12 years$15,331$13,563$11,974$10,553$9,285$4,945
13 years$14,007$12,257$10,698$9,316$8,097$4,047
14 years$12,872$11,141$9,612$8,270$7,098$3,325
15 years$11,890$10,178$8,679$7,375$6,249$2,740
16 years$11,032$9,338$7,868$6,604$5,523$2,264
17 years$10,275$8,600$7,160$5,934$4,897$1,874
18 years$9,603$7,946$6,536$5,347$4,354$1,554
19 years$9,002$7,365$5,984$4,832$3,881$1,291
20 years$8,463$6,844$5,491$4,376$3,467$1,073
21 years$7,975$6,375$5,051$3,972$3,102$893
22 years$7,532$5,950$4,655$3,611$2,781$744
23 years$7,129$5,565$4,298$3,289$2,496$620
24 years$6,759$5,214$3,975$2,999$2,244$517
25 years$6,420$4,893$3,682$2,739$2,019$431
26 years$6,107$4,599$3,415$2,505$1,819$360
27 years$5,818$4,328$3,171$2,293$1,640$300
28 years$5,550$4,078$2,948$2,100$1,479$251
29 years$5,301$3,848$2,743$1,926$1,336$210
30 years$5,069$3,634$2,555$1,768$1,207$175
31 years$4,852$3,435$2,382$1,624$1,091$146
32 years$4,649$3,250$2,223$1,492$987$122
33 years$4,459$3,078$2,075$1,372$893$102
34 years$4,281$2,917$1,939$1,262$809$85
35 years$4,113$2,767$1,813$1,162$733$71
36 years$3,955$2,626$1,696$1,070$664$60
37 years$3,805$2,494$1,587$986$602$50
38 years$3,664$2,370$1,486$909$545$42
39 years$3,531$2,254$1,393$838$495$35
40 years$3,404$2,145$1,305$773$449$29
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$17
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 $5,042 every year, while hoping to spend $29,499 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: 25/46/29 Blend
59$2,490,000$2,490,000$2,490,000$2,490,000
60$2,749,181$2,617,211$2,578,616$2,792,858
61$2,998,211$2,714,067$2,633,613$2,926,799
62$3,271,653$2,814,681$2,689,463$3,067,479
63$3,571,966$2,919,206$2,746,165$3,217,706
64$3,901,859$3,027,799$2,803,715$3,378,301
65$4,264,317$3,140,629$2,862,107$3,550,167
66$4,662,626$3,257,869$2,921,336$3,734,290
67$5,100,407$3,379,698$2,981,395$3,931,754
68$5,581,652$3,506,307$3,042,274$4,143,746
69$6,110,755$3,637,890$3,103,965$4,371,569
70$6,692,560$3,774,654$3,166,456$4,616,653
71$7,332,401$3,916,813$3,229,732$4,880,567
72$8,036,159$4,064,589$3,293,781$5,165,034
73$8,810,309$4,218,216$3,358,584$5,471,946
74$9,661,987$4,377,936$3,424,124$5,803,381
75$10,599,058$4,544,002$3,490,380$6,161,621
76$11,630,183$4,716,680$3,557,329$6,549,173
77$12,764,909$4,896,244$3,624,947$6,968,794
78$14,013,753$5,082,983$3,693,205$7,423,512
79$15,388,303$5,277,197$3,762,076$7,916,655
80$16,901,331$5,479,200$3,831,526$8,451,883
81$18,566,904$5,689,319$3,901,520$9,033,221
82$20,400,528$5,907,895$3,972,020$9,665,092
83$22,419,285$6,135,285$4,042,986$10,352,364
84$24,641,999$6,371,862$4,114,373$11,100,388
85$27,089,413$6,618,012$4,186,134$11,915,052
86$29,784,381$6,874,143$4,258,218$12,802,834
87$32,752,090$7,140,678$4,330,570$13,770,860
88$36,020,290$7,418,058$4,403,131$14,826,972
89$39,619,563$7,706,746$4,475,839$15,979,799
90$43,583,605$8,007,223$4,548,627$17,238,836
91$47,949,549$8,319,994$4,621,422$18,614,537
92$52,758,313$8,645,583$4,694,149$20,118,403
93$58,054,985$8,984,541$4,766,727$21,763,099
94$63,889,250$9,337,440$4,839,069$23,562,563
95$70,315,858$9,704,879$4,911,083$25,532,140
96$77,395,143$10,087,486$4,982,672$27,688,726
97$85,193,588$10,485,912$5,053,731$30,050,921
98$93,784,454$10,900,842$5,124,151$32,639,205
99$103,248,474$11,332,989$5,193,816$35,476,130
100$113,674,611$11,783,098$5,262,602$38,586,528