Can I retire at age 60 with 2,540,000?

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 $2,540,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$209,751$207,882$206,060$204,280$202,543$200,012
2 years$103,837$101,903$100,029$98,212$96,449$93,902
3 years$68,537$66,595$64,725$62,925$61,191$58,708
4 years$50,891$48,954$47,103$45,334$43,642$41,241
5 years$40,305$38,381$36,554$34,821$33,176$30,865
6 years$33,251$31,341$29,541$27,847$26,251$24,032
7 years$28,214$26,320$24,549$22,894$21,349$19,223
8 years$24,438$22,561$20,819$19,205$17,711$15,678
9 years$21,503$19,643$17,932$16,359$14,915$12,975
10 years$19,156$17,315$15,633$14,101$12,709$10,859
11 years$17,237$15,414$13,763$12,272$10,930$9,169
12 years$15,639$13,835$12,215$10,765$9,472$7,798
13 years$14,288$12,503$10,913$9,503$8,259$6,670
14 years$13,131$11,365$9,805$8,436$7,240$5,734
15 years$12,129$10,382$8,853$7,524$6,375$4,949
16 years$11,253$9,525$8,026$6,737$5,634$4,286
17 years$10,481$8,772$7,304$6,053$4,996$3,722
18 years$9,796$8,106$6,667$5,455$4,442$3,240
19 years$9,183$7,513$6,104$4,929$3,959$2,827
20 years$8,633$6,981$5,602$4,464$3,536$2,471
21 years$8,135$6,503$5,152$4,051$3,165$2,163
22 years$7,683$6,070$4,749$3,684$2,837$1,896
23 years$7,272$5,677$4,385$3,355$2,546$1,664
24 years$6,895$5,319$4,055$3,060$2,289$1,462
25 years$6,549$4,992$3,756$2,794$2,059$1,285
26 years$6,229$4,691$3,483$2,555$1,855$1,131
27 years$5,934$4,415$3,235$2,339$1,673$996
28 years$5,661$4,160$3,007$2,143$1,509$877
29 years$5,407$3,925$2,798$1,965$1,363$773
30 years$5,170$3,707$2,606$1,803$1,231$682
31 years$4,949$3,504$2,430$1,656$1,113$602
32 years$4,743$3,315$2,267$1,522$1,007$531
33 years$4,549$3,140$2,117$1,400$911$469
34 years$4,367$2,976$1,978$1,288$825$414
35 years$4,195$2,822$1,849$1,185$747$366
36 years$4,034$2,679$1,730$1,092$677$323
37 years$3,882$2,544$1,619$1,006$614$286
38 years$3,738$2,418$1,516$927$556$252
39 years$3,602$2,299$1,421$855$505$223
40 years$3,473$2,188$1,331$789$458$197
41 years$3,350$2,082$1,248$728$415$174
42 years$3,234$1,983$1,171$671$377$154
43 years$3,123$1,890$1,099$620$342$136
44 years$3,018$1,801$1,032$572$310$121
45 years$2,918$1,718$969$529$282$107
46 years$2,822$1,639$910$488$256$94
47 years$2,731$1,564$855$451$232$84
48 years$2,643$1,493$803$417$211$74
49 years$2,560$1,425$755$385$192$65
50 years$2,480$1,362$710$356$174$58

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,540,000, adding $5,458 every year, while hoping to spend $37,647 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: 42/34/24 Blend
59$2,540,000$2,540,000$2,540,000$2,540,000
60$2,804,710$2,670,090$2,630,720$2,902,590
61$3,050,734$2,760,868$2,678,793$3,063,846
62$3,320,591$2,854,833$2,727,215$3,234,356
63$3,616,672$2,952,100$2,775,957$3,418,263
64$3,941,611$3,052,791$2,824,990$3,616,823
65$4,298,308$3,157,031$2,874,280$3,831,415
66$4,689,961$3,264,951$2,923,793$4,063,556
67$5,120,088$3,376,685$2,973,492$4,314,914
68$5,592,569$3,492,374$3,023,335$4,587,324
69$6,111,675$3,612,164$3,073,281$4,882,806
70$6,682,112$3,736,207$3,123,283$5,203,580
71$7,309,067$3,864,660$3,173,292$5,552,090
72$7,998,250$3,997,687$3,223,255$5,931,026
73$8,755,955$4,135,457$3,273,118$6,343,347
74$9,589,115$4,278,147$3,322,820$6,792,311
75$10,505,369$4,425,941$3,372,299$7,281,502
76$11,513,133$4,579,028$3,421,487$7,814,869
77$12,621,680$4,737,608$3,470,315$8,396,754
78$13,841,227$4,901,886$3,518,705$9,031,943
79$15,183,029$5,072,076$3,566,579$9,725,702
80$16,659,490$5,248,400$3,613,852$10,483,829
81$18,284,276$5,431,089$3,660,433$11,312,711
82$20,072,443$5,620,384$3,706,229$12,219,378
83$22,040,584$5,816,534$3,751,139$13,211,574
84$24,206,979$6,019,799$3,795,058$14,297,827
85$26,591,770$6,230,449$3,837,872$15,487,528
86$29,217,155$6,448,765$3,879,465$16,791,021
87$32,107,589$6,675,039$3,919,711$18,219,700
88$35,290,021$6,909,574$3,958,479$19,786,114
89$38,794,147$7,152,686$3,995,632$21,504,083
90$42,652,686$7,404,704$4,031,021$23,388,836
91$46,901,694$7,665,969$4,064,495$25,457,142
92$51,580,902$7,936,837$4,095,891$27,727,478
93$56,734,090$8,217,677$4,125,039$30,220,196
94$62,409,498$8,508,874$4,151,759$32,957,718
95$68,660,286$8,810,829$4,175,862$35,964,744
96$75,545,034$9,123,958$4,197,152$39,268,486
97$83,128,289$9,448,694$4,215,418$42,898,924
98$91,481,183$9,785,488$4,230,443$46,889,085
99$100,682,097$10,134,810$4,241,997$51,275,360
100$110,817,404$10,497,149$4,249,837$56,097,838