Can I retire at age 60 with 2,520,000?

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 $2,520,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$208,099$206,246$204,437$202,672$200,948$195,142
2 years$103,019$101,101$99,241$97,438$95,690$89,886
3 years$67,997$66,070$64,216$62,430$60,709$55,090
4 years$50,490$48,569$46,733$44,977$43,299$37,907
5 years$39,988$38,079$36,266$34,547$32,915$27,765
6 years$32,989$31,094$29,309$27,627$26,044$21,142
7 years$27,992$26,113$24,356$22,714$21,181$16,526
8 years$24,246$22,383$20,655$19,054$17,572$13,161
9 years$21,333$19,489$17,791$16,230$14,798$10,627
10 years$19,005$17,178$15,510$13,990$12,609$8,672
11 years$17,101$15,293$13,655$12,176$10,844$7,135
12 years$15,516$13,726$12,118$10,680$9,397$5,908
13 years$14,175$12,404$10,827$9,429$8,194$4,918
14 years$13,027$11,275$9,728$8,370$7,183$4,112
15 years$12,033$10,300$8,783$7,464$6,325$3,449
16 years$11,165$9,450$7,963$6,683$5,590$2,902
17 years$10,399$8,703$7,246$6,005$4,956$2,447
18 years$9,719$8,042$6,615$5,412$4,407$2,067
19 years$9,111$7,453$6,056$4,890$3,928$1,750
20 years$8,565$6,926$5,558$4,429$3,508$1,483
21 years$8,071$6,451$5,112$4,019$3,140$1,258
22 years$7,623$6,022$4,711$3,655$2,814$1,069
23 years$7,214$5,632$4,350$3,328$2,526$908
24 years$6,840$5,277$4,023$3,036$2,271$773
25 years$6,497$4,952$3,726$2,772$2,043$658
26 years$6,180$4,654$3,456$2,535$1,840$560
27 years$5,888$4,380$3,209$2,320$1,659$477
28 years$5,617$4,128$2,983$2,126$1,497$406
29 years$5,364$3,894$2,776$1,949$1,352$346
30 years$5,130$3,677$2,586$1,789$1,222$295
31 years$4,910$3,476$2,411$1,643$1,104$252
32 years$4,705$3,289$2,249$1,510$999$215
33 years$4,513$3,115$2,100$1,389$904$183
34 years$4,332$2,952$1,962$1,278$819$156
35 years$4,162$2,800$1,835$1,176$741$134
36 years$4,002$2,658$1,716$1,083$672$114
37 years$3,851$2,524$1,606$998$609$97
38 years$3,708$2,399$1,504$920$552$83
39 years$3,573$2,281$1,409$848$501$71
40 years$3,445$2,170$1,321$782$454$61
41 years$3,324$2,066$1,239$722$412$52
42 years$3,208$1,968$1,162$666$374$44
43 years$3,099$1,875$1,090$615$339$38
44 years$2,994$1,787$1,023$568$308$32
45 years$2,895$1,704$961$524$280$27
46 years$2,800$1,626$903$484$254$23
47 years$2,709$1,551$848$447$230$20
48 years$2,622$1,481$797$414$209$17
49 years$2,540$1,414$749$382$190$15
50 years$2,460$1,351$704$353$173$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,520,000, adding $7,000 every year, while hoping to spend $38,506 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: 26/47/27 Blend
59$2,520,000$2,520,000$2,520,000$2,520,000
60$2,784,261$2,650,701$2,611,641$2,832,963
61$3,027,285$2,739,615$2,658,160$2,962,237
62$3,293,807$2,831,595$2,704,948$3,097,082
63$3,586,184$2,926,752$2,751,972$3,240,968
64$3,907,010$3,025,197$2,799,198$3,394,686
65$4,259,143$3,127,051$2,846,590$3,559,104
66$4,645,733$3,232,434$2,894,108$3,735,172
67$5,070,249$3,341,474$2,941,711$3,923,936
68$5,536,510$3,454,302$2,989,355$4,126,543
69$6,048,727$3,571,055$3,036,991$4,344,252
70$6,611,536$3,691,875$3,084,568$4,578,450
71$7,230,045$3,816,910$3,132,034$4,830,655
72$7,909,882$3,946,311$3,179,330$5,102,542
73$8,657,247$4,080,238$3,226,395$5,395,947
74$9,478,972$4,218,854$3,273,164$5,712,890
75$10,382,580$4,362,332$3,319,569$6,055,592
76$11,376,365$4,510,847$3,365,535$6,426,498
77$12,469,460$4,664,585$3,410,987$6,828,292
78$13,671,932$4,823,736$3,455,842$7,263,931
79$14,994,869$4,988,499$3,500,012$7,736,666
80$16,450,490$5,159,080$3,543,407$8,250,073
81$18,052,258$5,335,694$3,585,930$8,808,090
82$19,815,007$5,518,561$3,627,477$9,415,046
83$21,755,081$5,707,914$3,667,940$10,075,708
84$23,890,489$5,903,991$3,707,206$10,795,324
85$26,241,075$6,107,043$3,745,154$11,579,668
86$28,828,704$6,317,327$3,781,656$12,435,097
87$31,677,468$6,535,113$3,816,578$13,368,609
88$34,813,917$6,760,681$3,849,780$14,387,910
89$38,267,301$6,994,319$3,881,113$15,501,482
90$42,069,856$7,236,330$3,910,420$16,718,667
91$46,257,098$7,487,028$3,937,536$18,049,750
92$50,868,167$7,746,737$3,962,288$19,506,056
93$55,946,189$8,015,796$3,984,494$21,100,060
94$61,538,688$8,294,558$4,003,963$22,845,497
95$67,698,031$8,583,388$4,020,492$24,757,497
96$74,481,922$8,882,666$4,033,870$26,852,720
97$81,953,949$9,192,787$4,043,875$29,149,520
98$90,184,181$9,514,162$4,050,274$31,668,111
99$99,249,830$9,847,220$4,052,822$34,430,757
100$109,235,983$10,192,403$4,051,261$37,461,985