Can I retire at age 60 with 2,670,000?

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 $2,670,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$220,486$218,522$216,606$214,736$212,910$207,678
2 years$109,152$107,119$105,149$103,238$101,385$96,147
3 years$72,045$70,003$68,038$66,146$64,323$59,242
4 years$53,495$51,460$49,514$47,654$45,876$40,991
5 years$42,368$40,345$38,425$36,603$34,874$30,198
6 years$34,953$32,945$31,053$29,272$27,595$23,133
7 years$29,658$27,667$25,805$24,066$22,442$18,195
8 years$25,689$23,716$21,885$20,188$18,618$14,584
9 years$22,603$20,649$18,850$17,196$15,679$11,855
10 years$20,136$18,201$16,433$14,823$13,359$9,740
11 years$18,119$16,203$14,468$12,901$11,489$8,071
12 years$16,439$14,543$12,840$11,316$9,956$6,732
13 years$15,019$13,143$11,471$9,990$8,682$5,646
14 years$13,803$11,946$10,307$8,868$7,611$4,755
15 years$12,750$10,913$9,306$7,909$6,701$4,020
16 years$11,829$10,013$8,437$7,081$5,922$3,409
17 years$11,018$9,221$7,678$6,362$5,251$2,898
18 years$10,297$8,521$7,009$5,734$4,669$2,468
19 years$9,653$7,897$6,416$5,181$4,162$2,106
20 years$9,074$7,338$5,888$4,692$3,717$1,800
21 years$8,552$6,835$5,416$4,259$3,327$1,540
22 years$8,077$6,381$4,992$3,872$2,982$1,319
23 years$7,644$5,968$4,609$3,526$2,677$1,131
24 years$7,248$5,591$4,263$3,216$2,406$971
25 years$6,884$5,247$3,948$2,937$2,165$833
26 years$6,548$4,931$3,662$2,686$1,950$716
27 years$6,238$4,641$3,400$2,458$1,758$615
28 years$5,951$4,373$3,161$2,252$1,586$529
29 years$5,684$4,126$2,941$2,065$1,432$455
30 years$5,435$3,896$2,740$1,896$1,294$392
31 years$5,203$3,683$2,554$1,741$1,170$337
32 years$4,985$3,485$2,383$1,600$1,059$290
33 years$4,782$3,300$2,225$1,471$958$250
34 years$4,590$3,128$2,079$1,354$867$215
35 years$4,410$2,967$1,944$1,246$786$185
36 years$4,241$2,816$1,818$1,148$712$160
37 years$4,080$2,675$1,702$1,057$645$138
38 years$3,929$2,542$1,594$975$585$118
39 years$3,786$2,417$1,493$899$530$102
40 years$3,650$2,300$1,400$829$481$88
41 years$3,522$2,189$1,312$765$436$76
42 years$3,399$2,085$1,231$706$396$65
43 years$3,283$1,986$1,155$652$359$56
44 years$3,172$1,893$1,084$602$326$49
45 years$3,067$1,806$1,018$556$296$42
46 years$2,966$1,722$956$513$269$36
47 years$2,870$1,644$898$474$244$31
48 years$2,779$1,569$844$438$222$27
49 years$2,691$1,498$794$405$201$23
50 years$2,607$1,431$746$374$183$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,670,000, adding $3,431 every year, while hoping to spend $38,216 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: 62/31/7 Blend
59$2,670,000$2,670,000$2,670,000$2,670,000
60$2,945,879$2,804,369$2,762,984$3,124,297
61$3,205,697$2,901,122$2,814,883$3,340,603
62$3,490,736$3,001,334$2,867,239$3,571,833
63$3,803,527$3,105,136$2,920,028$3,823,225
64$4,146,861$3,212,661$2,973,222$4,096,729
65$4,523,809$3,324,050$3,026,793$4,394,486
66$4,937,755$3,439,446$3,080,709$4,718,854
67$5,392,428$3,559,001$3,134,935$5,072,427
68$5,891,935$3,682,872$3,189,434$5,458,059
69$6,440,801$3,811,220$3,244,168$5,878,892
70$7,044,009$3,944,217$3,299,094$6,338,383
71$7,707,051$4,082,036$3,354,167$6,840,339
72$8,435,977$4,224,863$3,409,339$7,388,949
73$9,237,452$4,372,886$3,464,557$7,988,824
74$10,118,819$4,526,305$3,519,766$8,645,044
75$11,088,168$4,685,323$3,574,908$9,363,197
76$12,154,414$4,850,157$3,629,920$10,149,441
77$13,327,377$5,021,028$3,684,736$11,010,552
78$14,617,879$5,198,167$3,739,283$11,953,995
79$16,037,842$5,381,817$3,793,489$12,987,988
80$17,600,403$5,572,226$3,847,271$14,121,583
81$19,320,035$5,769,657$3,900,547$15,364,748
82$21,212,689$5,974,381$3,953,225$16,728,463
83$23,295,937$6,186,679$4,005,212$18,224,817
84$25,589,142$6,406,846$4,056,406$19,867,131
85$28,113,640$6,635,187$4,106,701$21,670,073
86$30,892,941$6,872,021$4,155,985$23,649,802
87$33,952,949$7,117,678$4,204,139$25,824,116
88$37,322,210$7,372,504$4,251,037$28,212,620
89$41,032,175$7,636,857$4,296,547$30,836,914
90$45,117,505$7,911,111$4,340,530$33,720,788
91$49,616,390$8,195,654$4,382,837$36,890,452
92$54,570,914$8,490,893$4,423,314$40,374,780
93$60,027,449$8,797,249$4,461,797$44,205,581
94$66,037,095$9,115,161$4,498,113$48,417,900
95$72,656,161$9,445,086$4,532,082$53,050,344
96$79,946,695$9,787,500$4,563,512$58,145,449
97$87,977,071$10,142,901$4,592,203$63,750,078
98$96,822,633$10,511,804$4,617,943$69,915,862
99$106,566,408$10,894,748$4,640,510$76,699,687
100$117,299,886$11,292,295$4,659,671$84,164,228