Can I retire at age 60 with 2,800,000?

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 $2,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$231,221$229,162$227,152$225,191$223,276$214,842
2 years$114,466$112,334$110,268$108,265$106,322$97,922
3 years$75,553$73,412$71,351$69,366$67,455$59,354
4 years$56,100$53,965$51,925$49,975$48,109$40,370
5 years$44,431$42,309$40,296$38,385$36,572$29,213
6 years$36,655$34,549$32,565$30,697$28,938$21,965
7 years$31,102$29,014$27,062$25,238$23,535$16,945
8 years$26,940$24,870$22,951$21,171$19,524$13,313
9 years$23,704$21,654$19,767$18,033$16,442$10,600
10 years$21,117$19,087$17,234$15,545$14,010$8,525
11 years$19,001$16,992$15,172$13,529$12,049$6,910
12 years$17,240$15,251$13,465$11,866$10,441$5,636
13 years$15,750$13,783$12,030$10,476$9,105$4,619
14 years$14,475$12,528$10,809$9,300$7,981$3,800
15 years$13,370$11,445$9,759$8,294$7,027$3,136
16 years$12,405$10,500$8,848$7,426$6,211$2,595
17 years$11,554$9,670$8,051$6,672$5,507$2,151
18 years$10,799$8,936$7,350$6,013$4,896$1,787
19 years$10,123$8,282$6,728$5,433$4,364$1,486
20 years$9,516$7,696$6,175$4,921$3,898$1,237
21 years$8,968$7,168$5,680$4,466$3,489$1,031
22 years$8,470$6,691$5,235$4,061$3,127$860
23 years$8,016$6,258$4,833$3,698$2,807$718
24 years$7,601$5,864$4,470$3,373$2,523$600
25 years$7,219$5,503$4,140$3,080$2,270$501
26 years$6,867$5,172$3,840$2,816$2,045$419
27 years$6,542$4,867$3,566$2,578$1,844$350
28 years$6,241$4,586$3,315$2,362$1,664$293
29 years$5,961$4,327$3,085$2,166$1,502$245
30 years$5,700$4,086$2,873$1,988$1,357$205
31 years$5,456$3,863$2,679$1,826$1,227$172
32 years$5,228$3,655$2,499$1,678$1,110$144
33 years$5,014$3,461$2,334$1,543$1,005$120
34 years$4,814$3,280$2,180$1,420$910$101
35 years$4,625$3,111$2,038$1,307$824$84
36 years$4,447$2,953$1,907$1,204$746$71
37 years$4,279$2,805$1,785$1,109$677$59
38 years$4,120$2,666$1,671$1,022$613$49
39 years$3,970$2,535$1,566$942$556$41
40 years$3,828$2,412$1,468$869$504$35
41 years$3,693$2,296$1,376$802$458$29
42 years$3,565$2,186$1,291$740$415$24
43 years$3,443$2,083$1,211$683$377$20
44 years$3,327$1,986$1,137$631$342$17
45 years$3,216$1,893$1,068$583$311$14
46 years$3,111$1,806$1,003$538$282$12
47 years$3,010$1,724$942$497$256$10
48 years$2,914$1,646$885$459$233$8
49 years$2,822$1,571$832$425$211$7
50 years$2,734$1,501$782$392$192$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,800,000, adding $3,401 every year, while hoping to spend $41,491 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: 73/19/8 Blend
59$2,800,000$2,800,000$2,800,000$2,800,000
60$3,089,108$2,940,708$2,897,308$3,310,423
61$3,360,051$3,040,657$2,950,222$3,556,801
62$3,657,240$3,144,112$3,003,518$3,821,023
63$3,983,307$3,251,203$3,057,164$4,109,235
64$4,341,153$3,362,061$3,111,129$4,423,793
65$4,733,974$3,476,825$3,165,375$4,767,293
66$5,165,288$3,595,638$3,219,863$5,142,589
67$5,638,973$3,718,649$3,274,554$5,552,829
68$6,159,298$3,846,013$3,329,401$6,001,474
69$6,730,969$3,977,890$3,384,358$6,492,338
70$7,359,167$4,114,447$3,439,374$7,029,619
71$8,049,604$4,255,856$3,494,395$7,617,940
72$8,808,569$4,402,298$3,549,363$8,262,393
73$9,642,993$4,553,960$3,604,216$8,968,585
74$10,560,510$4,711,036$3,658,889$9,742,693
75$11,569,532$4,873,728$3,713,312$10,591,517
76$12,679,328$5,042,244$3,767,412$11,522,549
77$13,900,110$5,216,804$3,821,110$12,544,041
78$15,243,126$5,397,633$3,874,323$13,665,083
79$16,720,775$5,584,967$3,926,962$14,895,685
80$18,346,713$5,779,049$3,978,935$16,246,877
81$20,135,990$5,980,135$4,030,142$17,730,808
82$22,105,188$6,188,488$4,080,478$19,360,861
83$24,272,577$6,404,384$4,129,834$21,151,780
84$26,658,288$6,628,107$4,178,091$23,119,807
85$29,284,504$6,859,955$4,225,128$25,282,837
86$32,175,666$7,100,236$4,270,813$27,660,582
87$35,358,708$7,349,271$4,315,009$30,274,762
88$38,863,305$7,607,394$4,357,570$33,149,305
89$42,722,159$7,874,953$4,398,345$36,310,575
90$46,971,301$8,152,308$4,437,172$39,787,616
91$51,650,438$8,439,835$4,473,882$43,612,432
92$56,803,321$8,737,925$4,508,295$47,820,283
93$62,478,161$9,046,985$4,540,224$52,450,018
94$68,728,083$9,367,436$4,569,471$57,544,441
95$75,611,627$9,699,720$4,595,828$63,150,719
96$83,193,301$10,044,295$4,619,076$69,320,816
97$91,544,188$10,401,636$4,638,986$76,111,995
98$100,742,618$10,772,239$4,655,315$83,587,347
99$110,874,908$11,156,621$4,667,811$91,816,391
100$122,036,172$11,555,320$4,676,206$100,875,731