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%17.7%
1 years$209,751$207,882$206,060$204,280$202,543$196,217
2 years$103,837$101,903$100,029$98,212$96,449$90,132
3 years$68,537$66,595$64,725$62,925$61,191$55,081
4 years$50,891$48,954$47,103$45,334$43,642$37,786
5 years$40,305$38,381$36,554$34,821$33,176$27,590
6 years$33,251$31,341$29,541$27,847$26,251$20,939
7 years$28,214$26,320$24,549$22,894$21,349$16,311
8 years$24,438$22,561$20,819$19,205$17,711$12,944
9 years$21,503$19,643$17,932$16,359$14,915$10,414
10 years$19,156$17,315$15,633$14,101$12,709$8,466
11 years$17,237$15,414$13,763$12,272$10,930$6,939
12 years$15,639$13,835$12,215$10,765$9,472$5,723
13 years$14,288$12,503$10,913$9,503$8,259$4,745
14 years$13,131$11,365$9,805$8,436$7,240$3,950
15 years$12,129$10,382$8,853$7,524$6,375$3,300
16 years$11,253$9,525$8,026$6,737$5,634$2,764
17 years$10,481$8,772$7,304$6,053$4,996$2,321
18 years$9,796$8,106$6,667$5,455$4,442$1,952
19 years$9,183$7,513$6,104$4,929$3,959$1,645
20 years$8,633$6,981$5,602$4,464$3,536$1,387
21 years$8,135$6,503$5,152$4,051$3,165$1,172
22 years$7,683$6,070$4,749$3,684$2,837$990
23 years$7,272$5,677$4,385$3,355$2,546$838
24 years$6,895$5,319$4,055$3,060$2,289$709
25 years$6,549$4,992$3,756$2,794$2,059$601
26 years$6,229$4,691$3,483$2,555$1,855$509
27 years$5,934$4,415$3,235$2,339$1,673$432
28 years$5,661$4,160$3,007$2,143$1,509$366
29 years$5,407$3,925$2,798$1,965$1,363$310
30 years$5,170$3,707$2,606$1,803$1,231$263
31 years$4,949$3,504$2,430$1,656$1,113$224
32 years$4,743$3,315$2,267$1,522$1,007$190
33 years$4,549$3,140$2,117$1,400$911$161
34 years$4,367$2,976$1,978$1,288$825$137
35 years$4,195$2,822$1,849$1,185$747$116
36 years$4,034$2,679$1,730$1,092$677$99
37 years$3,882$2,544$1,619$1,006$614$84
38 years$3,738$2,418$1,516$927$556$71
39 years$3,602$2,299$1,421$855$505$60
40 years$3,473$2,188$1,331$789$458$51
41 years$3,350$2,082$1,248$728$415$44
42 years$3,234$1,983$1,171$671$377$37
43 years$3,123$1,890$1,099$620$342$31
44 years$3,018$1,801$1,032$572$310$27
45 years$2,918$1,718$969$529$282$23
46 years$2,822$1,639$910$488$256$19
47 years$2,731$1,564$855$451$232$16
48 years$2,643$1,493$803$417$211$14
49 years$2,560$1,425$755$385$192$12
50 years$2,480$1,362$710$356$174$10

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 $5,758 every year, while hoping to spend $46,271 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: 61/13/26 Blend
59$2,540,000$2,540,000$2,540,000$2,540,000
60$2,805,019$2,670,399$2,631,029$2,956,277
61$3,041,899$2,752,017$2,669,937$3,141,363
62$3,301,390$2,836,083$2,708,597$3,337,770
63$3,585,750$2,922,669$2,746,953$3,551,160
64$3,897,464$3,011,847$2,784,943$3,783,197
65$4,239,270$3,103,693$2,822,504$4,035,716
66$4,614,186$3,198,284$2,859,568$4,310,736
67$5,025,532$3,295,698$2,896,062$4,610,482
68$5,476,967$3,396,019$2,931,911$4,937,404
69$5,972,522$3,499,328$2,967,034$5,294,201
70$6,516,635$3,605,711$3,001,346$5,683,846
71$7,114,199$3,715,257$3,034,758$6,109,615
72$7,770,599$3,828,057$3,067,174$6,575,117
73$8,491,770$3,944,202$3,098,495$7,084,327
74$9,284,251$4,063,788$3,128,615$7,641,623
75$10,155,244$4,186,913$3,157,423$8,251,833
76$11,112,684$4,313,678$3,184,802$8,920,273
77$12,165,314$4,444,184$3,210,629$9,652,800
78$13,322,765$4,578,538$3,234,774$10,455,868
79$14,595,648$4,716,847$3,257,100$11,336,589
80$15,995,656$4,859,224$3,277,464$12,302,800
81$17,535,668$5,005,782$3,295,715$13,363,133
82$19,229,878$5,156,637$3,311,693$14,527,104
83$21,093,923$5,311,909$3,325,232$15,805,194
84$23,145,033$5,471,722$3,336,157$17,208,958
85$25,402,190$5,636,201$3,344,282$18,751,122
86$27,886,314$5,805,475$3,349,416$20,445,715
87$30,620,450$5,979,676$3,351,354$22,308,193
88$33,629,995$6,158,939$3,349,883$24,355,589
89$36,942,931$6,343,403$3,344,780$26,606,672
90$40,590,090$6,533,210$3,335,811$29,082,125
91$44,605,448$6,728,506$3,322,729$31,804,741
92$49,026,440$6,929,439$3,305,277$34,799,636
93$53,894,317$7,136,162$3,283,184$38,094,488
94$59,254,534$7,348,830$3,256,167$41,719,798
95$65,157,177$7,567,604$3,223,929$45,709,178
96$71,657,439$7,792,646$3,186,160$50,099,668
97$78,816,135$8,024,123$3,142,534$54,932,085
98$86,700,281$8,262,206$3,092,710$60,251,411
99$95,383,726$8,507,069$3,036,331$66,107,216
100$104,947,841$8,758,891$2,973,024$72,554,126