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

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 $2,540,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$209,751$207,882$206,060$204,280$202,543$195,590
2 years$103,837$101,903$100,029$98,212$96,449$89,515
3 years$68,537$66,595$64,725$62,925$61,191$54,494
4 years$50,891$48,954$47,103$45,334$43,642$37,232
5 years$40,305$38,381$36,554$34,821$33,176$27,071
6 years$33,251$31,341$29,541$27,847$26,251$20,456
7 years$28,214$26,320$24,549$22,894$21,349$15,862
8 years$24,438$22,561$20,819$19,205$17,711$12,528
9 years$21,503$19,643$17,932$16,359$14,915$10,030
10 years$19,156$17,315$15,633$14,101$12,709$8,113
11 years$17,237$15,414$13,763$12,272$10,930$6,615
12 years$15,639$13,835$12,215$10,765$9,472$5,427
13 years$14,288$12,503$10,913$9,503$8,259$4,475
14 years$13,131$11,365$9,805$8,436$7,240$3,705
15 years$12,129$10,382$8,853$7,524$6,375$3,077
16 years$11,253$9,525$8,026$6,737$5,634$2,563
17 years$10,481$8,772$7,304$6,053$4,996$2,139
18 years$9,796$8,106$6,667$5,455$4,442$1,789
19 years$9,183$7,513$6,104$4,929$3,959$1,498
20 years$8,633$6,981$5,602$4,464$3,536$1,256
21 years$8,135$6,503$5,152$4,051$3,165$1,054
22 years$7,683$6,070$4,749$3,684$2,837$886
23 years$7,272$5,677$4,385$3,355$2,546$744
24 years$6,895$5,319$4,055$3,060$2,289$626
25 years$6,549$4,992$3,756$2,794$2,059$527
26 years$6,229$4,691$3,483$2,555$1,855$444
27 years$5,934$4,415$3,235$2,339$1,673$374
28 years$5,661$4,160$3,007$2,143$1,509$315
29 years$5,407$3,925$2,798$1,965$1,363$265
30 years$5,170$3,707$2,606$1,803$1,231$224
31 years$4,949$3,504$2,430$1,656$1,113$189
32 years$4,743$3,315$2,267$1,522$1,007$159
33 years$4,549$3,140$2,117$1,400$911$134
34 years$4,367$2,976$1,978$1,288$825$113
35 years$4,195$2,822$1,849$1,185$747$95
36 years$4,034$2,679$1,730$1,092$677$80
37 years$3,882$2,544$1,619$1,006$614$68
38 years$3,738$2,418$1,516$927$556$57
39 years$3,602$2,299$1,421$855$505$48
40 years$3,473$2,188$1,331$789$458$41
41 years$3,350$2,082$1,248$728$415$34
42 years$3,234$1,983$1,171$671$377$29
43 years$3,123$1,890$1,099$620$342$24
44 years$3,018$1,801$1,032$572$310$21
45 years$2,918$1,718$969$529$282$17
46 years$2,822$1,639$910$488$256$15
47 years$2,731$1,564$855$451$232$12
48 years$2,643$1,493$803$417$211$10
49 years$2,560$1,425$755$385$192$9
50 years$2,480$1,362$710$356$174$7

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 $3,792 every year, while hoping to spend $26,348 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: 39/35/26 Blend
59$2,540,000$2,540,000$2,540,000$2,540,000
60$2,802,991$2,668,371$2,629,001$2,890,544
61$3,060,863$2,771,088$2,689,039$3,057,314
62$3,344,153$2,877,954$2,750,205$3,234,797
63$3,655,429$2,989,145$2,812,508$3,426,202
64$3,997,515$3,104,846$2,875,960$3,632,815
65$4,373,525$3,225,247$2,940,568$3,856,046
66$4,786,888$3,350,547$3,006,340$4,097,445
67$5,241,383$3,480,956$3,073,285$4,358,713
68$5,741,172$3,616,692$3,141,409$4,641,724
69$6,290,843$3,757,981$3,210,717$4,948,532
70$6,895,449$3,905,062$3,281,216$5,281,398
71$7,560,557$4,058,182$3,352,909$5,642,807
72$8,292,302$4,217,601$3,425,799$6,035,493
73$9,097,443$4,383,590$3,499,890$6,462,459
74$9,983,427$4,556,430$3,575,181$6,927,011
75$10,958,460$4,736,419$3,651,673$7,432,784
76$12,031,582$4,923,863$3,729,364$7,983,777
77$13,212,758$5,119,086$3,808,251$8,584,389
78$14,512,962$5,322,425$3,888,331$9,239,460
79$15,944,292$5,534,231$3,969,597$9,954,317
80$17,520,073$5,754,872$4,052,042$10,734,820
81$19,254,993$5,984,733$4,135,658$11,587,420
82$21,165,232$6,224,215$4,220,432$12,519,216
83$23,268,622$6,473,737$4,306,353$13,538,022
84$25,584,811$6,733,740$4,393,405$14,652,440
85$28,135,448$7,004,680$4,481,571$15,871,938
86$30,944,392$7,287,037$4,570,832$17,206,940
87$34,037,931$7,581,313$4,661,165$18,668,924
88$37,445,032$7,888,030$4,752,547$20,270,524
89$41,197,618$8,207,736$4,844,950$22,025,654
90$45,330,863$8,541,003$4,938,344$23,949,634
91$49,883,529$8,888,430$5,032,696$26,059,332
92$54,898,327$9,250,641$5,127,970$28,373,325
93$60,422,325$9,628,291$5,224,125$30,912,073
94$66,507,389$10,022,064$5,321,120$33,698,105
95$73,210,671$10,432,674$5,418,906$36,756,235
96$80,595,154$10,860,869$5,517,434$40,113,791
97$88,730,239$11,307,431$5,616,647$43,800,875
98$97,692,405$11,773,177$5,716,487$47,850,638
99$107,565,931$12,258,963$5,816,890$52,299,600
100$118,443,687$12,765,683$5,917,786$57,187,985