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

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 $2,720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$224,615$222,614$220,662$218,757$216,897$210,291
2 years$111,196$109,125$107,118$105,172$103,284$96,685
3 years$73,394$71,314$69,312$67,384$65,528$59,143
4 years$54,497$52,423$50,442$48,547$46,735$40,613
5 years$43,162$41,101$39,145$37,289$35,527$29,685
6 years$35,607$33,562$31,635$29,820$28,111$22,554
7 years$30,213$28,185$26,289$24,517$22,862$17,590
8 years$26,170$24,160$22,295$20,566$18,966$13,975
9 years$23,027$21,035$19,203$17,518$15,972$11,257
10 years$20,513$18,542$16,741$15,101$13,609$9,163
11 years$18,458$16,507$14,739$13,142$11,704$7,519
12 years$16,747$14,815$13,080$11,527$10,143$6,211
13 years$15,300$13,389$11,686$10,177$8,845$5,156
14 years$14,061$12,170$10,500$9,034$7,753$4,298
15 years$12,988$11,118$9,480$8,057$6,827$3,596
16 years$12,051$10,200$8,595$7,214$6,033$3,016
17 years$11,224$9,394$7,821$6,482$5,350$2,536
18 years$10,490$8,680$7,140$5,841$4,757$2,136
19 years$9,834$8,045$6,536$5,278$4,240$1,803
20 years$9,244$7,476$5,999$4,780$3,787$1,523
21 years$8,712$6,963$5,518$4,338$3,389$1,288
22 years$8,228$6,500$5,085$3,945$3,038$1,091
23 years$7,787$6,079$4,695$3,592$2,727$924
24 years$7,383$5,696$4,342$3,277$2,451$784
25 years$7,013$5,345$4,022$2,992$2,205$665
26 years$6,671$5,024$3,730$2,736$1,987$564
27 years$6,355$4,728$3,464$2,504$1,791$479
28 years$6,062$4,455$3,220$2,295$1,616$407
29 years$5,790$4,203$2,997$2,104$1,459$346
30 years$5,537$3,969$2,791$1,931$1,319$294
31 years$5,300$3,752$2,602$1,774$1,192$250
32 years$5,079$3,550$2,428$1,630$1,078$212
33 years$4,871$3,362$2,267$1,499$976$181
34 years$4,676$3,187$2,118$1,379$884$154
35 years$4,493$3,023$1,980$1,270$800$131
36 years$4,320$2,869$1,852$1,169$725$111
37 years$4,157$2,725$1,734$1,077$657$95
38 years$4,003$2,589$1,624$993$596$80
39 years$3,857$2,462$1,521$916$540$68
40 years$3,719$2,343$1,426$844$490$58
41 years$3,588$2,230$1,337$779$445$50
42 years$3,463$2,124$1,254$719$403$42
43 years$3,345$2,024$1,177$664$366$36
44 years$3,232$1,929$1,105$613$332$31
45 years$3,124$1,839$1,037$566$302$26
46 years$3,022$1,755$974$523$274$22
47 years$2,924$1,674$915$483$249$19
48 years$2,831$1,599$860$446$226$16
49 years$2,741$1,526$808$412$205$14
50 years$2,656$1,458$760$381$186$12

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 $2,388 every year, while hoping to spend $35,085 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: 46/40/14 Blend
59$2,720,000$2,720,000$2,720,000$2,720,000
60$2,999,903$2,855,743$2,813,583$3,125,903
61$3,268,563$2,958,344$2,870,508$3,316,213
62$3,563,451$3,064,797$2,928,164$3,518,791
63$3,887,204$3,175,253$2,986,539$3,737,788
64$4,242,728$3,289,871$3,045,617$3,974,741
65$4,633,226$3,408,814$3,105,385$4,231,340
66$5,062,223$3,532,253$3,165,823$4,509,443
67$5,533,604$3,660,369$3,226,913$4,811,090
68$6,051,651$3,793,345$3,288,633$5,138,526
69$6,621,076$3,931,377$3,350,960$5,494,219
70$7,247,077$4,074,665$3,413,868$5,880,884
71$7,935,374$4,223,419$3,477,328$6,301,506
72$8,692,275$4,377,859$3,541,311$6,759,369
73$9,524,726$4,538,213$3,605,784$7,258,086
74$10,440,380$4,704,718$3,670,710$7,801,630
75$11,447,671$4,877,622$3,736,051$8,394,377
76$12,555,891$5,057,182$3,801,766$9,041,137
77$13,775,277$5,243,669$3,867,810$9,747,207
78$15,117,109$5,437,362$3,934,135$10,518,416
79$16,593,815$5,638,554$4,000,690$11,361,180
80$18,219,090$5,847,550$4,067,419$12,282,560
81$20,008,024$6,064,666$4,134,264$13,290,331
82$21,977,242$6,290,234$4,201,162$14,393,051
83$24,145,065$6,524,600$4,268,045$15,600,142
84$26,531,680$6,768,124$4,334,843$16,921,977
85$29,159,330$7,021,180$4,401,479$18,369,980
86$32,052,524$7,284,161$4,467,871$19,956,728
87$35,238,271$7,557,474$4,533,934$21,696,070
88$38,746,331$7,841,547$4,599,577$23,603,257
89$42,609,496$8,136,822$4,664,702$25,695,087
90$46,863,902$8,443,763$4,729,207$27,990,055
91$51,549,366$8,762,854$4,792,982$30,508,535
92$56,709,766$9,094,598$4,855,911$33,272,963
93$62,393,452$9,439,523$4,917,874$36,308,051
94$68,653,701$9,798,177$4,978,739$39,641,020
95$75,549,223$10,171,132$5,038,372$43,301,852
96$83,144,713$10,558,987$5,096,627$47,323,571
97$91,511,461$10,962,365$5,153,351$51,742,555
98$100,728,026$11,381,917$5,208,385$56,598,879
99$110,880,977$11,818,322$5,261,557$61,936,686
100$122,065,707$12,272,290$5,312,690$67,804,605