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

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 $2,620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$216,357$214,430$212,550$210,714$208,922$201,030
2 years$107,108$105,113$103,179$101,305$99,487$91,627
3 years$70,696$68,692$66,764$64,907$63,119$55,539
4 years$52,493$50,496$48,587$46,762$45,017$37,775
5 years$41,575$39,590$37,706$35,918$34,221$27,335
6 years$34,298$32,328$30,472$28,724$27,078$20,553
7 years$29,103$27,149$25,322$23,615$22,022$15,856
8 years$25,208$23,272$21,475$19,810$18,269$12,457
9 years$22,180$20,262$18,497$16,874$15,385$9,918
10 years$19,759$17,860$16,126$14,546$13,109$7,977
11 years$17,780$15,900$14,197$12,659$11,274$6,466
12 years$16,132$14,271$12,599$11,104$9,770$5,273
13 years$14,738$12,897$11,257$9,803$8,520$4,322
14 years$13,544$11,723$10,114$8,702$7,468$3,555
15 years$12,511$10,709$9,132$7,761$6,576$2,934
16 years$11,608$9,825$8,279$6,949$5,812$2,428
17 years$10,811$9,049$7,534$6,243$5,153$2,013
18 years$10,104$8,361$6,877$5,627$4,582$1,672
19 years$9,472$7,749$6,296$5,084$4,084$1,391
20 years$8,905$7,201$5,778$4,605$3,648$1,158
21 years$8,391$6,707$5,315$4,179$3,264$965
22 years$7,925$6,261$4,898$3,800$2,926$805
23 years$7,501$5,856$4,523$3,460$2,627$672
24 years$7,112$5,487$4,183$3,156$2,361$561
25 years$6,755$5,149$3,874$2,882$2,124$469
26 years$6,426$4,839$3,593$2,635$1,914$392
27 years$6,121$4,554$3,336$2,412$1,725$328
28 years$5,839$4,291$3,102$2,210$1,557$274
29 years$5,577$4,048$2,886$2,027$1,406$229
30 years$5,333$3,823$2,689$1,860$1,270$192
31 years$5,105$3,614$2,506$1,708$1,148$161
32 years$4,892$3,420$2,339$1,570$1,039$134
33 years$4,692$3,239$2,184$1,444$940$113
34 years$4,504$3,070$2,040$1,328$851$94
35 years$4,328$2,911$1,907$1,223$771$79
36 years$4,161$2,763$1,784$1,126$698$66
37 years$4,004$2,625$1,670$1,038$633$55
38 years$3,856$2,494$1,564$956$574$46
39 years$3,715$2,372$1,465$882$520$39
40 years$3,582$2,257$1,373$813$472$32
41 years$3,456$2,148$1,288$750$428$27
42 years$3,336$2,046$1,208$693$389$23
43 years$3,222$1,949$1,134$639$353$19
44 years$3,113$1,858$1,064$590$320$16
45 years$3,009$1,772$999$545$291$13
46 years$2,911$1,690$938$504$264$11
47 years$2,817$1,613$882$465$240$9
48 years$2,726$1,540$828$430$218$8
49 years$2,640$1,470$779$397$198$7
50 years$2,558$1,405$732$367$180$6

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 $4,033 every year, while hoping to spend $48,877 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: 55/37/8 Blend
59$2,620,000$2,620,000$2,620,000$2,620,000
60$2,891,400$2,752,540$2,711,930$3,044,723
61$3,134,318$2,835,410$2,750,775$3,231,652
62$3,400,376$2,920,702$2,789,283$3,429,323
63$3,691,881$3,008,484$2,827,391$3,643,356
64$4,011,378$3,098,824$2,865,033$3,875,313
65$4,361,665$3,191,793$2,902,138$4,126,912
66$4,745,826$3,287,462$2,938,632$4,400,045
67$5,167,260$3,385,907$2,974,435$4,696,792
68$5,629,706$3,487,202$3,009,465$5,019,445
69$6,137,287$3,591,426$3,043,632$5,370,523
70$6,694,541$3,698,657$3,076,845$5,752,802
71$7,306,469$3,808,976$3,109,005$6,169,336
72$7,978,581$3,922,468$3,140,008$6,623,487
73$8,716,944$4,039,216$3,169,746$7,118,958
74$9,528,243$4,159,309$3,198,103$7,659,825
75$10,419,842$4,282,834$3,224,959$8,250,577
76$11,399,857$4,409,883$3,250,185$8,896,155
77$12,477,224$4,540,549$3,273,648$9,602,003
78$13,661,792$4,674,927$3,295,206$10,374,115
79$14,964,410$4,813,114$3,314,711$11,219,093
80$16,397,033$4,955,209$3,332,007$12,144,207
81$17,972,830$5,101,314$3,346,929$13,157,466
82$19,706,312$5,251,532$3,359,304$14,267,692
83$21,613,467$5,405,969$3,368,953$15,484,600
84$23,711,912$5,564,732$3,375,683$16,818,893
85$26,021,054$5,727,932$3,379,296$18,282,363
86$28,562,281$5,895,680$3,379,582$19,887,997
87$31,359,156$6,068,090$3,376,320$21,650,105
88$34,437,643$6,245,280$3,369,280$23,584,449
89$37,826,351$6,427,367$3,358,220$25,708,395
90$41,556,804$6,614,473$3,342,885$28,041,076
91$45,663,736$6,806,720$3,323,009$30,603,570
92$50,185,421$7,004,233$3,298,314$33,419,103
93$55,164,034$7,207,141$3,268,508$36,513,259
94$60,646,046$7,415,571$3,233,283$39,914,232
95$66,682,664$7,629,655$3,192,320$43,653,083
96$73,330,315$7,849,528$3,145,282$47,764,036
97$80,651,176$8,075,324$3,091,818$52,284,800
98$88,713,762$8,307,180$3,031,559$57,256,927
99$97,593,571$8,545,237$2,964,121$62,726,197
100$107,373,797$8,789,635$2,889,101$68,743,057