Can I retire at age 60 with 2,740,000?

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 $2,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$226,267$224,251$222,285$220,366$218,491$214,872
2 years$112,013$109,927$107,905$105,945$104,044$100,407
3 years$73,934$71,839$69,822$67,880$66,010$62,470
4 years$54,898$52,809$50,812$48,904$47,079$43,663
5 years$43,479$41,403$39,433$37,563$35,788$32,507
6 years$35,869$33,809$31,867$30,039$28,318$25,174
7 years$30,436$28,392$26,482$24,697$23,030$20,024
8 years$26,362$24,337$22,459$20,718$19,106$16,238
9 years$23,196$21,190$19,344$17,647$16,090$13,358
10 years$20,664$18,678$16,864$15,212$13,709$11,112
11 years$18,594$16,628$14,847$13,239$11,790$9,324
12 years$16,870$14,924$13,176$11,612$10,217$7,879
13 years$15,413$13,487$11,772$10,252$8,910$6,696
14 years$14,165$12,260$10,577$9,100$7,810$5,718
15 years$13,084$11,199$9,550$8,116$6,877$4,901
16 years$12,139$10,275$8,658$7,267$6,078$4,215
17 years$11,307$9,463$7,879$6,529$5,389$3,635
18 years$10,567$8,744$7,192$5,884$4,792$3,142
19 years$9,906$8,104$6,584$5,317$4,271$2,721
20 years$9,312$7,531$6,043$4,815$3,815$2,361
21 years$8,776$7,015$5,558$4,370$3,414$2,051
22 years$8,288$6,548$5,123$3,974$3,060$1,784
23 years$7,844$6,124$4,730$3,619$2,747$1,554
24 years$7,438$5,738$4,374$3,301$2,469$1,354
25 years$7,064$5,385$4,052$3,014$2,222$1,181
26 years$6,720$5,061$3,758$2,756$2,001$1,031
27 years$6,402$4,763$3,489$2,523$1,804$901
28 years$6,107$4,488$3,244$2,311$1,628$787
29 years$5,833$4,234$3,019$2,120$1,470$688
30 years$5,577$3,998$2,812$1,945$1,328$602
31 years$5,339$3,780$2,621$1,787$1,201$527
32 years$5,116$3,576$2,446$1,642$1,086$461
33 years$4,907$3,387$2,284$1,510$983$404
34 years$4,711$3,210$2,134$1,389$890$354
35 years$4,526$3,045$1,995$1,279$806$310
36 years$4,352$2,890$1,866$1,178$730$271
37 years$4,187$2,745$1,747$1,085$662$238
38 years$4,032$2,608$1,636$1,000$600$208
39 years$3,885$2,480$1,532$922$544$183
40 years$3,746$2,360$1,436$851$494$160
41 years$3,614$2,246$1,347$785$448$140
42 years$3,488$2,139$1,263$724$406$123
43 years$3,369$2,038$1,185$669$369$108
44 years$3,256$1,943$1,113$617$335$95
45 years$3,147$1,853$1,045$570$304$83
46 years$3,044$1,768$981$527$276$73
47 years$2,946$1,687$922$487$251$64
48 years$2,851$1,610$866$450$228$56
49 years$2,761$1,538$814$416$207$49
50 years$2,675$1,469$766$384$188$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,740,000, adding $3,236 every year, while hoping to spend $35,592 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: 69/21/10 Blend
59$2,740,000$2,740,000$2,740,000$2,740,000
60$3,022,818$2,877,598$2,835,128$3,225,126
61$3,293,276$2,980,731$2,892,235$3,462,860
62$3,590,127$3,087,724$2,950,062$3,718,227
63$3,916,027$3,198,729$3,008,597$3,996,641
64$4,273,900$3,313,905$3,067,822$4,300,360
65$4,666,966$3,433,415$3,127,723$4,631,867
66$5,098,775$3,557,430$3,188,280$4,993,897
67$5,573,235$3,686,130$3,249,472$5,389,460
68$6,094,654$3,819,698$3,311,278$5,821,868
69$6,667,774$3,958,330$3,373,672$6,294,770
70$7,297,825$4,102,225$3,436,627$6,812,181
71$7,990,563$4,251,594$3,500,115$7,378,524
72$8,752,334$4,406,656$3,564,102$7,998,668
73$9,590,128$4,567,638$3,628,556$8,677,974
74$10,511,646$4,734,778$3,693,437$9,422,348
75$11,525,374$4,908,322$3,758,707$10,238,292
76$12,640,661$5,088,528$3,824,322$11,132,968
77$13,867,807$5,275,664$3,890,236$12,114,261
78$15,218,163$5,470,011$3,956,398$13,190,860
79$16,704,234$5,671,860$4,022,756$14,372,332
80$18,339,799$5,881,515$4,089,252$15,669,216
81$20,140,042$6,099,293$4,155,825$17,093,119
82$22,121,692$6,325,523$4,222,411$18,656,830
83$24,303,181$6,560,551$4,288,939$20,374,434
84$26,704,823$6,804,735$4,355,335$22,261,446
85$29,348,998$7,058,450$4,421,522$24,334,959
86$32,260,367$7,322,086$4,487,414$26,613,803
87$35,466,106$7,596,049$4,552,924$29,118,723
88$38,996,159$7,880,766$4,617,957$31,872,570
89$42,883,520$8,176,677$4,682,412$34,900,521
90$47,164,550$8,484,245$4,746,184$38,230,315
91$51,879,313$8,803,952$4,809,159$41,892,509
92$57,071,957$9,136,299$4,871,220$45,920,773
93$62,791,131$9,481,812$4,932,240$50,352,199
94$69,090,442$9,841,036$4,992,086$55,227,659
95$76,028,963$10,214,543$5,050,617$60,592,179
96$83,671,789$10,602,928$5,107,685$66,495,375
97$92,090,652$11,006,811$5,163,132$72,991,908
98$101,364,595$11,426,842$5,216,794$80,142,009
99$111,580,723$11,863,696$5,268,495$88,012,042
100$122,835,018$12,318,079$5,318,052$96,675,127