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%19.9%
1 years$226,267$224,251$222,285$220,366$218,491$209,823
2 years$112,013$109,927$107,905$105,945$104,044$95,417
3 years$73,934$71,839$69,822$67,880$66,010$57,697
4 years$54,898$52,809$50,812$48,904$47,079$39,144
5 years$43,479$41,403$39,433$37,563$35,788$28,251
6 years$35,869$33,809$31,867$30,039$28,318$21,184
7 years$30,436$28,392$26,482$24,697$23,030$16,296
8 years$26,362$24,337$22,459$20,718$19,106$12,764
9 years$23,196$21,190$19,344$17,647$16,090$10,132
10 years$20,664$18,678$16,864$15,212$13,709$8,123
11 years$18,594$16,628$14,847$13,239$11,790$6,563
12 years$16,870$14,924$13,176$11,612$10,217$5,334
13 years$15,413$13,487$11,772$10,252$8,910$4,357
14 years$14,165$12,260$10,577$9,100$7,810$3,572
15 years$13,084$11,199$9,550$8,116$6,877$2,937
16 years$12,139$10,275$8,658$7,267$6,078$2,421
17 years$11,307$9,463$7,879$6,529$5,389$2,000
18 years$10,567$8,744$7,192$5,884$4,792$1,655
19 years$9,906$8,104$6,584$5,317$4,271$1,371
20 years$9,312$7,531$6,043$4,815$3,815$1,138
21 years$8,776$7,015$5,558$4,370$3,414$945
22 years$8,288$6,548$5,123$3,974$3,060$785
23 years$7,844$6,124$4,730$3,619$2,747$653
24 years$7,438$5,738$4,374$3,301$2,469$543
25 years$7,064$5,385$4,052$3,014$2,222$452
26 years$6,720$5,061$3,758$2,756$2,001$376
27 years$6,402$4,763$3,489$2,523$1,804$313
28 years$6,107$4,488$3,244$2,311$1,628$261
29 years$5,833$4,234$3,019$2,120$1,470$217
30 years$5,577$3,998$2,812$1,945$1,328$181
31 years$5,339$3,780$2,621$1,787$1,201$151
32 years$5,116$3,576$2,446$1,642$1,086$126
33 years$4,907$3,387$2,284$1,510$983$105
34 years$4,711$3,210$2,134$1,389$890$87
35 years$4,526$3,045$1,995$1,279$806$73
36 years$4,352$2,890$1,866$1,178$730$61
37 years$4,187$2,745$1,747$1,085$662$51
38 years$4,032$2,608$1,636$1,000$600$42
39 years$3,885$2,480$1,532$922$544$35
40 years$3,746$2,360$1,436$851$494$29
41 years$3,614$2,246$1,347$785$448$25
42 years$3,488$2,139$1,263$724$406$20
43 years$3,369$2,038$1,185$669$369$17
44 years$3,256$1,943$1,113$617$335$14
45 years$3,147$1,853$1,045$570$304$12
46 years$3,044$1,768$981$527$276$10
47 years$2,946$1,687$922$487$251$8
48 years$2,851$1,610$866$450$228$7
49 years$2,761$1,538$814$416$207$6
50 years$2,675$1,469$766$384$188$5

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 $4,650 every year, while hoping to spend $25,410 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: 65/14/21 Blend
59$2,740,000$2,740,000$2,740,000$2,740,000
60$3,024,276$2,879,056$2,836,586$3,204,361
61$3,305,717$2,993,094$2,904,576$3,440,013
62$3,615,012$3,111,868$2,973,992$3,694,139
63$3,954,977$3,235,584$3,044,854$3,971,275
64$4,328,713$3,364,455$3,117,185$4,273,678
65$4,739,634$3,498,706$3,191,003$4,603,834
66$5,191,506$3,638,572$3,266,331$4,964,476
67$5,688,474$3,784,296$3,343,187$5,358,616
68$6,235,107$3,936,135$3,421,593$5,789,567
69$6,836,438$4,094,356$3,501,567$6,260,979
70$7,498,014$4,259,239$3,583,128$6,776,870
71$8,225,945$4,431,075$3,666,296$7,341,663
72$9,026,963$4,610,169$3,751,089$7,960,230
73$9,908,487$4,796,842$3,837,525$8,637,936
74$10,878,691$4,991,425$3,925,620$9,380,689
75$11,946,582$5,194,269$4,015,392$10,194,994
76$13,122,082$5,405,737$4,106,857$11,088,018
77$14,416,128$5,626,212$4,200,030$12,067,652
78$15,840,767$5,856,090$4,294,925$13,142,589
79$17,409,276$6,095,790$4,391,556$14,322,403
80$19,136,286$6,345,747$4,489,936$15,617,640
81$21,037,914$6,606,416$4,590,077$17,039,915
82$23,131,926$6,878,275$4,691,989$18,602,026
83$25,437,893$7,161,821$4,795,681$20,318,068
84$27,977,384$7,457,576$4,901,163$22,203,568
85$30,774,165$7,766,085$5,008,439$24,275,633
86$33,854,425$8,087,919$5,117,517$26,553,105
87$37,247,023$8,423,673$5,228,400$29,056,745
88$40,983,757$8,773,971$5,341,090$31,809,423
89$45,099,672$9,139,467$5,455,587$34,836,337
90$49,633,380$9,520,842$5,571,891$38,165,246
91$54,627,432$9,918,811$5,689,997$41,826,733
92$60,128,719$10,334,121$5,809,901$45,854,493
93$66,188,910$10,767,555$5,931,594$50,285,652
94$72,864,942$11,219,928$6,055,066$55,161,111
95$80,219,560$11,692,099$6,180,304$60,525,938
96$88,321,904$12,184,961$6,307,293$66,429,786
97$97,248,166$12,699,451$6,436,015$72,927,365
98$107,082,305$13,236,551$6,566,448$80,078,955
99$117,916,844$13,797,285$6,698,568$87,950,974
100$129,853,738$14,382,728$6,832,346$96,616,606