Can I retire at age 60 with 2,640,000?

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 $2,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$218,009$216,067$214,172$212,323$210,517$206,267
2 years$107,925$105,915$103,967$102,078$100,246$95,983
3 years$71,235$69,217$67,274$65,403$63,600$59,457
4 years$52,894$50,882$48,958$47,119$45,360$41,368
5 years$41,892$39,892$37,993$36,192$34,482$30,653
6 years$34,560$32,575$30,704$28,943$27,285$23,623
7 years$29,325$27,356$25,515$23,796$22,190$18,696
8 years$25,400$23,449$21,639$19,961$18,408$15,082
9 years$22,349$20,417$18,638$17,003$15,503$12,341
10 years$19,910$17,996$16,249$14,657$13,209$10,209
11 years$17,916$16,021$14,305$12,756$11,360$8,518
12 years$16,255$14,380$12,695$11,188$9,844$7,156
13 years$14,850$12,995$11,343$9,878$8,585$6,046
14 years$13,648$11,812$10,191$8,768$7,525$5,131
15 years$12,606$10,791$9,201$7,820$6,626$4,371
16 years$11,696$9,900$8,342$7,002$5,856$3,735
17 years$10,894$9,118$7,591$6,291$5,192$3,200
18 years$10,181$8,425$6,930$5,669$4,617$2,748
19 years$9,545$7,808$6,344$5,123$4,115$2,364
20 years$8,973$7,256$5,822$4,640$3,676$2,037
21 years$8,455$6,759$5,355$4,211$3,289$1,758
22 years$7,986$6,309$4,936$3,829$2,948$1,519
23 years$7,558$5,901$4,557$3,487$2,647$1,314
24 years$7,166$5,528$4,215$3,180$2,379$1,137
25 years$6,806$5,188$3,904$2,904$2,141$985
26 years$6,475$4,876$3,620$2,656$1,928$853
27 years$6,168$4,589$3,362$2,431$1,738$740
28 years$5,884$4,324$3,125$2,227$1,569$642
29 years$5,620$4,079$2,908$2,042$1,416$557
30 years$5,374$3,852$2,709$1,874$1,280$484
31 years$5,144$3,642$2,526$1,721$1,157$420
32 years$4,929$3,446$2,356$1,582$1,047$365
33 years$4,728$3,263$2,200$1,455$947$317
34 years$4,539$3,093$2,056$1,339$858$276
35 years$4,361$2,934$1,922$1,232$777$240
36 years$4,193$2,784$1,798$1,135$704$208
37 years$4,035$2,645$1,683$1,046$638$181
38 years$3,885$2,513$1,576$964$578$158
39 years$3,743$2,390$1,476$889$524$137
40 years$3,609$2,274$1,384$820$476$119
41 years$3,482$2,164$1,298$756$432$104
42 years$3,361$2,061$1,217$698$392$90
43 years$3,246$1,964$1,142$644$355$79
44 years$3,137$1,872$1,072$595$323$68
45 years$3,032$1,785$1,007$549$293$59
46 years$2,933$1,703$946$507$266$52
47 years$2,838$1,625$888$469$241$45
48 years$2,747$1,551$835$433$219$39
49 years$2,661$1,482$785$400$199$34
50 years$2,578$1,415$738$370$181$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,640,000, adding $4,976 every year, while hoping to spend $58,174 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: 27/49/24 Blend
59$2,640,000$2,640,000$2,640,000$2,640,000
60$2,914,413$2,774,493$2,733,573$2,971,001
61$3,149,786$2,848,546$2,763,251$3,090,454
62$3,407,218$2,924,279$2,791,973$3,213,218
63$3,688,897$3,001,711$2,819,647$3,343,813
64$3,997,232$3,080,862$2,846,173$3,482,943
65$4,334,878$3,161,753$2,871,448$3,631,381
66$4,704,756$3,244,399$2,895,362$3,789,979
67$5,110,085$3,328,819$2,917,800$3,959,675
68$5,554,409$3,415,026$2,938,642$4,141,500
69$6,041,632$3,503,036$2,957,760$4,336,592
70$6,576,052$3,592,858$2,975,019$4,546,203
71$7,162,406$3,684,505$2,990,279$4,771,713
72$7,805,910$3,777,984$3,003,391$5,014,641
73$8,512,308$3,873,301$3,014,200$5,276,661
74$9,287,930$3,970,459$3,022,542$5,559,618
75$10,139,748$4,069,460$3,028,246$5,865,544
76$11,075,441$4,170,302$3,031,131$6,196,679
77$12,103,470$4,272,981$3,031,008$6,555,491
78$13,233,155$4,377,489$3,027,679$6,944,701
79$14,474,765$4,483,815$3,020,934$7,367,306
80$15,839,612$4,591,942$3,010,556$7,826,610
81$17,340,159$4,701,854$2,996,316$8,326,255
82$18,990,136$4,813,525$2,977,974$8,870,256
83$20,804,671$4,926,929$2,955,277$9,463,037
84$22,800,431$5,042,032$2,927,962$10,109,474
85$24,995,780$5,158,796$2,895,753$10,814,944
86$27,410,949$5,277,178$2,858,362$11,585,373
87$30,068,233$5,397,126$2,815,483$12,427,293
88$32,992,193$5,518,585$2,766,802$13,347,904
89$36,209,891$5,641,491$2,711,985$14,355,145
90$39,751,149$5,765,773$2,650,685$15,457,765
91$43,648,823$5,891,352$2,582,540$16,665,410
92$47,939,115$6,018,141$2,507,167$17,988,713
93$52,661,918$6,146,043$2,424,170$19,439,396
94$57,861,186$6,274,951$2,333,133$21,030,380
95$63,585,354$6,404,751$2,233,620$22,775,907
96$69,887,791$6,535,314$2,125,176$24,691,680
97$76,827,303$6,666,502$2,007,327$26,795,007
98$84,468,690$6,798,163$1,879,575$29,104,968
99$92,883,356$6,930,133$1,741,401$31,642,595
100$102,149,983$7,062,234$1,592,262$34,431,073