Can I retire at age 60 with 2,780,000?

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 $2,780,000?

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$229,570$227,525$225,530$223,583$221,681$218,009
2 years$113,648$111,532$109,481$107,492$105,562$101,873
3 years$75,013$72,887$70,841$68,871$66,973$63,382
4 years$55,699$53,580$51,554$49,618$47,766$44,300
5 years$44,114$42,007$40,008$38,111$36,311$32,981
6 years$36,393$34,302$32,333$30,478$28,732$25,541
7 years$30,880$28,807$26,869$25,057$23,366$20,317
8 years$26,747$24,693$22,787$21,020$19,385$16,475
9 years$23,534$21,500$19,626$17,904$16,325$13,553
10 years$20,966$18,951$17,110$15,434$13,909$11,274
11 years$18,866$16,871$15,064$13,432$11,963$9,460
12 years$17,117$15,142$13,369$11,782$10,367$7,994
13 years$15,638$13,684$11,944$10,401$9,040$6,794
14 years$14,372$12,439$10,732$9,233$7,924$5,801
15 years$13,275$11,363$9,689$8,234$6,977$4,973
16 years$12,316$10,425$8,785$7,373$6,166$4,276
17 years$11,472$9,601$7,994$6,625$5,468$3,688
18 years$10,721$8,872$7,297$5,970$4,862$3,188
19 years$10,051$8,222$6,680$5,395$4,333$2,761
20 years$9,448$7,641$6,131$4,886$3,870$2,395
21 years$8,904$7,117$5,639$4,434$3,464$2,081
22 years$8,409$6,643$5,197$4,032$3,105$1,810
23 years$7,959$6,213$4,799$3,672$2,787$1,576
24 years$7,546$5,822$4,438$3,349$2,505$1,374
25 years$7,167$5,463$4,111$3,058$2,254$1,199
26 years$6,818$5,135$3,812$2,796$2,030$1,046
27 years$6,495$4,832$3,540$2,560$1,831$914
28 years$6,196$4,553$3,291$2,345$1,652$799
29 years$5,918$4,296$3,063$2,151$1,491$699
30 years$5,659$4,057$2,853$1,974$1,348$611
31 years$5,417$3,835$2,659$1,813$1,218$535
32 years$5,191$3,629$2,481$1,666$1,102$468
33 years$4,979$3,436$2,317$1,532$997$410
34 years$4,779$3,257$2,165$1,409$903$359
35 years$4,592$3,089$2,024$1,298$818$314
36 years$4,415$2,932$1,893$1,195$741$275
37 years$4,249$2,785$1,772$1,101$672$241
38 years$4,091$2,647$1,659$1,015$609$211
39 years$3,942$2,517$1,555$936$552$185
40 years$3,801$2,394$1,457$863$501$162
41 years$3,667$2,279$1,366$796$454$142
42 years$3,539$2,171$1,282$735$412$125
43 years$3,418$2,068$1,203$678$374$109
44 years$3,303$1,971$1,129$626$340$96
45 years$3,193$1,880$1,060$578$308$84
46 years$3,088$1,793$996$534$280$74
47 years$2,989$1,711$935$494$254$65
48 years$2,893$1,634$879$456$231$57
49 years$2,802$1,560$826$422$210$50
50 years$2,714$1,490$777$390$190$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,780,000, adding $5,220 every year, while hoping to spend $42,742 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: 54/28/18 Blend
59$2,780,000$2,780,000$2,780,000$2,780,000
60$3,068,944$2,921,604$2,878,514$3,219,488
61$3,336,500$3,019,286$2,929,468$3,420,681
62$3,629,913$3,120,321$2,980,695$3,634,598
63$3,951,777$3,224,830$3,032,161$3,866,514
64$4,304,946$3,332,935$3,083,827$4,118,156
65$4,692,567$3,444,765$3,135,651$4,391,427
66$5,118,103$3,560,453$3,187,590$4,688,418
67$5,585,372$3,680,137$3,239,596$5,011,434
68$6,098,576$3,803,959$3,291,619$5,363,007
69$6,662,347$3,932,070$3,343,604$5,745,929
70$7,281,786$4,064,622$3,395,495$6,163,269
71$7,962,515$4,201,775$3,447,231$6,618,408
72$8,710,725$4,343,695$3,498,746$7,115,067
73$9,533,237$4,490,554$3,549,973$7,657,343
74$10,437,567$4,642,531$3,600,836$8,249,748
75$11,431,995$4,799,811$3,651,260$8,897,249
76$12,525,643$4,962,586$3,701,162$9,605,316
77$13,728,562$5,131,056$3,750,454$10,379,973
78$15,051,826$5,305,428$3,799,045$11,227,853
79$16,507,635$5,485,918$3,846,836$12,156,261
80$18,109,434$5,672,747$3,893,725$13,173,245
81$19,872,033$5,866,149$3,939,602$14,287,667
82$21,811,755$6,066,365$3,984,353$15,509,288
83$23,946,580$6,273,643$4,027,855$16,848,859
84$26,296,323$6,488,243$4,069,980$18,318,226
85$28,882,816$6,710,435$4,110,593$19,930,432
86$31,730,116$6,940,500$4,149,550$21,699,851
87$34,864,731$7,178,727$4,186,703$23,642,314
88$38,315,867$7,425,418$4,221,891$25,775,261
89$42,115,710$7,680,888$4,254,949$28,117,905
90$46,299,723$7,945,462$4,285,700$30,691,414
91$50,906,984$8,219,479$4,313,960$33,519,108
92$55,980,553$8,503,290$4,339,535$36,626,678
93$61,567,879$8,797,261$4,362,219$40,042,430
94$67,721,248$9,101,772$4,381,799$43,797,549
95$74,498,275$9,417,218$4,398,048$47,926,396
96$81,962,445$9,744,009$4,410,730$52,466,826
97$90,183,720$10,082,571$4,419,595$57,460,551
98$99,239,190$10,433,347$4,424,381$62,953,528
99$109,213,804$10,796,798$4,424,815$68,996,393
100$120,201,174$11,173,403$4,420,608$75,644,939