Can I retire at age 60 with 2,720,000?

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 $2,720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$224,615$222,614$220,662$218,757$216,897$208,456
2 years$111,196$109,125$107,118$105,172$103,284$94,882
3 years$73,394$71,314$69,312$67,384$65,528$57,429
4 years$54,497$52,423$50,442$48,547$46,735$39,001
5 years$43,162$41,101$39,145$37,289$35,527$28,178
6 years$35,607$33,562$31,635$29,820$28,111$21,152
7 years$30,213$28,185$26,289$24,517$22,862$16,290
8 years$26,170$24,160$22,295$20,566$18,966$12,775
9 years$23,027$21,035$19,203$17,518$15,972$10,153
10 years$20,513$18,542$16,741$15,101$13,609$8,150
11 years$18,458$16,507$14,739$13,142$11,704$6,593
12 years$16,747$14,815$13,080$11,527$10,143$5,366
13 years$15,300$13,389$11,686$10,177$8,845$4,389
14 years$14,061$12,170$10,500$9,034$7,753$3,603
15 years$12,988$11,118$9,480$8,057$6,827$2,967
16 years$12,051$10,200$8,595$7,214$6,033$2,450
17 years$11,224$9,394$7,821$6,482$5,350$2,027
18 years$10,490$8,680$7,140$5,841$4,757$1,680
19 years$9,834$8,045$6,536$5,278$4,240$1,394
20 years$9,244$7,476$5,999$4,780$3,787$1,158
21 years$8,712$6,963$5,518$4,338$3,389$963
22 years$8,228$6,500$5,085$3,945$3,038$801
23 years$7,787$6,079$4,695$3,592$2,727$667
24 years$7,383$5,696$4,342$3,277$2,451$556
25 years$7,013$5,345$4,022$2,992$2,205$463
26 years$6,671$5,024$3,730$2,736$1,987$386
27 years$6,355$4,728$3,464$2,504$1,791$322
28 years$6,062$4,455$3,220$2,295$1,616$269
29 years$5,790$4,203$2,997$2,104$1,459$224
30 years$5,537$3,969$2,791$1,931$1,319$187
31 years$5,300$3,752$2,602$1,774$1,192$156
32 years$5,079$3,550$2,428$1,630$1,078$131
33 years$4,871$3,362$2,267$1,499$976$109
34 years$4,676$3,187$2,118$1,379$884$91
35 years$4,493$3,023$1,980$1,270$800$76
36 years$4,320$2,869$1,852$1,169$725$63
37 years$4,157$2,725$1,734$1,077$657$53
38 years$4,003$2,589$1,624$993$596$44
39 years$3,857$2,462$1,521$916$540$37
40 years$3,719$2,343$1,426$844$490$31
41 years$3,588$2,230$1,337$779$445$26
42 years$3,463$2,124$1,254$719$403$22
43 years$3,345$2,024$1,177$664$366$18
44 years$3,232$1,929$1,105$613$332$15
45 years$3,124$1,839$1,037$566$302$13
46 years$3,022$1,755$974$523$274$11
47 years$2,924$1,674$915$483$249$9
48 years$2,831$1,599$860$446$226$7
49 years$2,741$1,526$808$412$205$6
50 years$2,656$1,458$760$381$186$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,720,000, adding $3,087 every year, while hoping to spend $42,778 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: 45/32/23 Blend
59$2,720,000$2,720,000$2,720,000$2,720,000
60$3,000,624$2,856,464$2,814,304$3,115,621
61$3,261,172$2,950,916$2,863,068$3,291,498
62$3,546,863$3,048,561$2,912,032$3,477,688
63$3,860,215$3,149,513$2,961,157$3,678,746
64$4,204,003$3,253,885$3,010,402$3,896,078
65$4,581,284$3,361,798$3,059,723$4,131,229
66$4,995,425$3,473,376$3,109,074$4,385,899
67$5,450,134$3,588,747$3,158,403$4,661,959
68$5,949,496$3,708,044$3,207,658$4,961,466
69$6,498,012$3,831,406$3,256,782$5,286,685
70$7,100,639$3,958,974$3,305,714$5,640,109
71$7,762,838$4,090,899$3,354,390$6,024,480
72$8,490,627$4,227,332$3,402,741$6,442,817
73$9,290,634$4,368,434$3,450,695$6,898,444
74$10,170,161$4,514,369$3,498,176$7,395,020
75$11,137,254$4,665,310$3,545,102$7,936,572
76$12,200,778$4,821,434$3,591,386$8,527,537
77$13,370,497$4,982,925$3,636,938$9,172,796
78$14,657,174$5,149,974$3,681,661$9,877,728
79$16,072,662$5,322,779$3,725,453$10,648,253
80$17,630,024$5,501,546$3,768,206$11,490,894
81$19,343,653$5,686,488$3,809,808$12,412,832
82$21,229,406$5,877,826$3,850,136$13,421,976
83$23,304,755$6,075,790$3,889,066$14,527,039
84$25,588,954$6,280,617$3,926,464$15,737,616
85$28,103,215$6,492,555$3,962,188$17,064,276
86$30,870,913$6,711,860$3,996,091$18,518,661
87$33,917,803$6,938,798$4,028,017$20,113,597
88$37,272,264$7,173,644$4,057,801$21,863,210
89$40,965,568$7,416,686$4,085,270$23,783,063
90$45,032,172$7,668,220$4,110,243$25,890,300
91$49,510,046$7,928,555$4,132,528$28,203,808
92$54,441,027$8,198,011$4,151,925$30,744,395
93$59,871,219$8,476,920$4,168,221$33,534,985
94$65,851,422$8,765,628$4,181,195$36,600,833
95$72,437,616$9,064,493$4,190,614$39,969,765
96$79,691,486$9,373,886$4,196,233$43,672,437
97$87,681,006$9,694,195$4,197,796$47,742,627
98$96,481,078$10,025,820$4,195,031$52,217,549
99$106,174,241$10,369,178$4,187,657$57,138,207
100$116,851,447$10,724,701$4,175,377$62,549,779