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%14.4%
1 years$218,009$216,067$214,172$212,323$210,517$206,690
2 years$107,925$105,915$103,967$102,078$100,246$96,404
3 years$71,235$69,217$67,274$65,403$63,600$59,863
4 years$52,894$50,882$48,958$47,119$45,360$41,756
5 years$41,892$39,892$37,993$36,192$34,482$31,022
6 years$34,560$32,575$30,704$28,943$27,285$23,972
7 years$29,325$27,356$25,515$23,796$22,190$19,026
8 years$25,400$23,449$21,639$19,961$18,408$15,392
9 years$22,349$20,417$18,638$17,003$15,503$12,632
10 years$19,910$17,996$16,249$14,657$13,209$10,482
11 years$17,916$16,021$14,305$12,756$11,360$8,774
12 years$16,255$14,380$12,695$11,188$9,844$7,395
13 years$14,850$12,995$11,343$9,878$8,585$6,268
14 years$13,648$11,812$10,191$8,768$7,525$5,338
15 years$12,606$10,791$9,201$7,820$6,626$4,563
16 years$11,696$9,900$8,342$7,002$5,856$3,913
17 years$10,894$9,118$7,591$6,291$5,192$3,365
18 years$10,181$8,425$6,930$5,669$4,617$2,900
19 years$9,545$7,808$6,344$5,123$4,115$2,504
20 years$8,973$7,256$5,822$4,640$3,676$2,166
21 years$8,455$6,759$5,355$4,211$3,289$1,876
22 years$7,986$6,309$4,936$3,829$2,948$1,627
23 years$7,558$5,901$4,557$3,487$2,647$1,413
24 years$7,166$5,528$4,215$3,180$2,379$1,227
25 years$6,806$5,188$3,904$2,904$2,141$1,067
26 years$6,475$4,876$3,620$2,656$1,928$929
27 years$6,168$4,589$3,362$2,431$1,738$809
28 years$5,884$4,324$3,125$2,227$1,569$705
29 years$5,620$4,079$2,908$2,042$1,416$614
30 years$5,374$3,852$2,709$1,874$1,280$535
31 years$5,144$3,642$2,526$1,721$1,157$467
32 years$4,929$3,446$2,356$1,582$1,047$407
33 years$4,728$3,263$2,200$1,455$947$355
34 years$4,539$3,093$2,056$1,339$858$310
35 years$4,361$2,934$1,922$1,232$777$271
36 years$4,193$2,784$1,798$1,135$704$236
37 years$4,035$2,645$1,683$1,046$638$207
38 years$3,885$2,513$1,576$964$578$180
39 years$3,743$2,390$1,476$889$524$158
40 years$3,609$2,274$1,384$820$476$138
41 years$3,482$2,164$1,298$756$432$120
42 years$3,361$2,061$1,217$698$392$105
43 years$3,246$1,964$1,142$644$355$92
44 years$3,137$1,872$1,072$595$323$80
45 years$3,032$1,785$1,007$549$293$70
46 years$2,933$1,703$946$507$266$61
47 years$2,838$1,625$888$469$241$54
48 years$2,747$1,551$835$433$219$47
49 years$2,661$1,482$785$400$199$41
50 years$2,578$1,415$738$370$181$36

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 $6,673 every year, while hoping to spend $45,831 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: 66/28/6 Blend
59$2,640,000$2,640,000$2,640,000$2,640,000
60$2,916,163$2,776,243$2,735,323$3,105,468
61$3,164,848$2,863,515$2,778,193$3,319,255
62$3,437,363$2,953,528$2,820,962$3,546,678
63$3,736,089$3,046,366$2,863,580$3,793,991
64$4,063,652$3,142,119$2,905,991$4,063,124
65$4,422,940$3,240,879$2,948,138$4,356,202
66$4,817,136$3,342,738$2,989,957$4,675,565
67$5,249,747$3,447,795$3,031,383$5,023,786
68$5,724,633$3,556,150$3,072,347$5,403,701
69$6,246,050$3,667,905$3,112,775$5,818,428
70$6,818,683$3,783,168$3,152,588$6,271,402
71$7,447,693$3,902,048$3,191,705$6,766,406
72$8,138,768$4,024,659$3,230,037$7,307,603
73$8,898,172$4,151,117$3,267,493$7,899,578
74$9,732,807$4,281,542$3,303,975$8,547,380
75$10,650,275$4,416,060$3,339,380$9,256,570
76$11,658,954$4,554,798$3,373,600$10,033,271
77$12,768,072$4,697,888$3,406,521$10,884,228
78$13,987,798$4,845,467$3,438,021$11,816,869
79$15,329,333$4,997,674$3,467,975$12,839,374
80$16,805,020$5,154,655$3,496,247$13,960,755
81$18,428,458$5,316,559$3,522,697$15,190,939
82$20,214,630$5,483,541$3,547,177$16,540,859
83$22,180,046$5,655,758$3,569,532$18,022,559
84$24,342,896$5,833,374$3,589,595$19,649,309
85$26,723,221$6,016,560$3,607,197$21,435,724
86$29,343,106$6,205,488$3,622,154$23,397,907
87$32,226,884$6,400,337$3,634,278$25,553,596
88$35,401,366$6,601,295$3,643,367$27,922,336
89$38,896,098$6,808,550$3,649,211$30,525,656
90$42,743,631$7,022,300$3,651,591$33,387,278
91$46,979,837$7,242,749$3,650,275$36,533,337
92$51,644,241$7,470,104$3,645,020$39,992,628
93$56,780,397$7,704,582$3,635,571$43,796,876
94$62,436,296$7,946,406$3,621,662$47,981,035
95$68,664,823$8,195,805$3,603,012$52,583,619
96$75,524,251$8,453,014$3,579,329$57,647,063
97$83,078,791$8,718,279$3,550,304$63,218,123
98$91,399,204$8,991,851$3,515,615$69,348,317
99$100,563,460$9,273,988$3,474,924$76,094,412
100$110,657,478$9,564,959$3,427,880$83,518,954