Can I retire at age 60 with 2,620,000?

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 $2,620,000?

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$216,357$214,430$212,550$210,714$208,922$201,751
2 years$107,108$105,113$103,179$101,305$99,487$92,334
3 years$70,696$68,692$66,764$64,907$63,119$56,210
4 years$52,493$50,496$48,587$46,762$45,017$38,405
5 years$41,575$39,590$37,706$35,918$34,221$27,924
6 years$34,298$32,328$30,472$28,724$27,078$21,100
7 years$29,103$27,149$25,322$23,615$22,022$16,362
8 years$25,208$23,272$21,475$19,810$18,269$12,923
9 years$22,180$20,262$18,497$16,874$15,385$10,346
10 years$19,759$17,860$16,126$14,546$13,109$8,369
11 years$17,780$15,900$14,197$12,659$11,274$6,823
12 years$16,132$14,271$12,599$11,104$9,770$5,598
13 years$14,738$12,897$11,257$9,803$8,520$4,616
14 years$13,544$11,723$10,114$8,702$7,468$3,822
15 years$12,511$10,709$9,132$7,761$6,576$3,174
16 years$11,608$9,825$8,279$6,949$5,812$2,644
17 years$10,811$9,049$7,534$6,243$5,153$2,207
18 years$10,104$8,361$6,877$5,627$4,582$1,845
19 years$9,472$7,749$6,296$5,084$4,084$1,545
20 years$8,905$7,201$5,778$4,605$3,648$1,296
21 years$8,391$6,707$5,315$4,179$3,264$1,087
22 years$7,925$6,261$4,898$3,800$2,926$913
23 years$7,501$5,856$4,523$3,460$2,627$768
24 years$7,112$5,487$4,183$3,156$2,361$646
25 years$6,755$5,149$3,874$2,882$2,124$544
26 years$6,426$4,839$3,593$2,635$1,914$458
27 years$6,121$4,554$3,336$2,412$1,725$386
28 years$5,839$4,291$3,102$2,210$1,557$325
29 years$5,577$4,048$2,886$2,027$1,406$274
30 years$5,333$3,823$2,689$1,860$1,270$231
31 years$5,105$3,614$2,506$1,708$1,148$195
32 years$4,892$3,420$2,339$1,570$1,039$164
33 years$4,692$3,239$2,184$1,444$940$138
34 years$4,504$3,070$2,040$1,328$851$117
35 years$4,328$2,911$1,907$1,223$771$98
36 years$4,161$2,763$1,784$1,126$698$83
37 years$4,004$2,625$1,670$1,038$633$70
38 years$3,856$2,494$1,564$956$574$59
39 years$3,715$2,372$1,465$882$520$50
40 years$3,582$2,257$1,373$813$472$42
41 years$3,456$2,148$1,288$750$428$35
42 years$3,336$2,046$1,208$693$389$30
43 years$3,222$1,949$1,134$639$353$25
44 years$3,113$1,858$1,064$590$320$21
45 years$3,009$1,772$999$545$291$18
46 years$2,911$1,690$938$504$264$15
47 years$2,817$1,613$882$465$240$13
48 years$2,726$1,540$828$430$218$11
49 years$2,640$1,470$779$397$198$9
50 years$2,558$1,405$732$367$180$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,620,000, adding $2,363 every year, while hoping to spend $31,098 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: 76/16/8 Blend
59$2,620,000$2,620,000$2,620,000$2,620,000
60$2,889,677$2,750,817$2,710,207$3,105,725
61$3,151,337$2,852,519$2,767,911$3,349,838
62$3,438,643$2,958,163$2,826,506$3,613,130
63$3,754,179$3,067,907$2,885,989$3,900,830
64$4,100,790$3,181,920$2,946,355$4,215,349
65$4,481,613$3,300,376$3,007,599$4,559,342
66$4,900,099$3,423,456$3,069,716$4,935,730
67$5,360,054$3,551,350$3,132,696$5,347,731
68$5,865,669$3,684,256$3,196,531$5,798,889
69$6,421,561$3,822,378$3,261,209$6,293,104
70$7,032,819$3,965,933$3,326,718$6,834,673
71$7,705,047$4,115,145$3,393,043$7,428,326
72$8,444,421$4,270,246$3,460,169$8,079,274
73$9,257,745$4,431,482$3,528,078$8,793,255
74$10,152,516$4,599,105$3,596,750$9,576,588
75$11,136,994$4,773,383$3,666,163$10,436,235
76$12,220,280$4,954,591$3,736,291$11,379,863
77$13,412,401$5,143,018$3,807,110$12,415,915
78$14,724,407$5,338,967$3,878,589$13,553,695
79$16,168,471$5,542,751$3,950,696$14,803,448
80$17,758,009$5,754,699$4,023,398$16,176,462
81$19,507,800$5,975,154$4,096,656$17,685,171
82$21,434,132$6,204,473$4,170,430$19,343,271
83$23,554,951$6,443,029$4,244,677$21,165,854
84$25,890,031$6,691,213$4,319,349$23,169,540
85$28,461,162$6,949,431$4,394,395$25,372,646
86$31,292,355$7,218,107$4,469,762$27,795,345
87$34,410,066$7,497,685$4,545,390$30,459,867
88$37,843,449$7,788,628$4,621,217$33,390,701
89$41,624,630$8,091,420$4,697,176$36,614,828
90$45,789,007$8,406,564$4,773,196$40,161,975
91$50,375,588$8,734,588$4,849,201$44,064,894
92$55,427,358$9,076,043$4,925,109$48,359,671
93$60,991,682$9,431,503$5,000,834$53,086,065
94$67,120,756$9,801,569$5,076,284$58,287,885
95$73,872,095$10,186,867$5,151,362$64,013,397
96$81,309,078$10,588,054$5,225,962$70,315,786
97$89,501,548$11,005,812$5,299,975$77,253,651
98$98,526,466$11,440,857$5,373,285$84,891,560
99$108,468,643$11,893,936$5,445,767$93,300,658
100$119,421,534$12,365,829$5,517,290$102,559,338