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

Use the below retirement simulation to view the chances of a successful retirement.
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%11.3%
1 years$231,221$229,162$227,152$225,191$223,276$222,055
2 years$114,466$112,334$110,268$108,265$106,322$105,090
3 years$75,553$73,412$71,351$69,366$67,455$66,250
4 years$56,100$53,965$51,925$49,975$48,109$46,941
5 years$44,431$42,309$40,296$38,385$36,572$35,443
6 years$36,655$34,549$32,565$30,697$28,938$27,851
7 years$31,102$29,014$27,062$25,238$23,535$22,489
8 years$26,940$24,870$22,951$21,171$19,524$18,520
9 years$23,704$21,654$19,767$18,033$16,442$15,480
10 years$21,117$19,087$17,234$15,545$14,010$13,089
11 years$19,001$16,992$15,172$13,529$12,049$11,168
12 years$17,240$15,251$13,465$11,866$10,441$9,601
13 years$15,750$13,783$12,030$10,476$9,105$8,303
14 years$14,475$12,528$10,809$9,300$7,981$7,218
15 years$13,370$11,445$9,759$8,294$7,027$6,301
16 years$12,405$10,500$8,848$7,426$6,211$5,521
17 years$11,554$9,670$8,051$6,672$5,507$4,852
18 years$10,799$8,936$7,350$6,013$4,896$4,275
19 years$10,123$8,282$6,728$5,433$4,364$3,776
20 years$9,516$7,696$6,175$4,921$3,898$3,341
21 years$8,968$7,168$5,680$4,466$3,489$2,962
22 years$8,470$6,691$5,235$4,061$3,127$2,630
23 years$8,016$6,258$4,833$3,698$2,807$2,338
24 years$7,601$5,864$4,470$3,373$2,523$2,081
25 years$7,219$5,503$4,140$3,080$2,270$1,854
26 years$6,867$5,172$3,840$2,816$2,045$1,653
27 years$6,542$4,867$3,566$2,578$1,844$1,476
28 years$6,241$4,586$3,315$2,362$1,664$1,318
29 years$5,961$4,327$3,085$2,166$1,502$1,178
30 years$5,700$4,086$2,873$1,988$1,357$1,053
31 years$5,456$3,863$2,679$1,826$1,227$942
32 years$5,228$3,655$2,499$1,678$1,110$843
33 years$5,014$3,461$2,334$1,543$1,005$755
34 years$4,814$3,280$2,180$1,420$910$676
35 years$4,625$3,111$2,038$1,307$824$606
36 years$4,447$2,953$1,907$1,204$746$543
37 years$4,279$2,805$1,785$1,109$677$487
38 years$4,120$2,666$1,671$1,022$613$437
39 years$3,970$2,535$1,566$942$556$392
40 years$3,828$2,412$1,468$869$504$351
41 years$3,693$2,296$1,376$802$458$315
42 years$3,565$2,186$1,291$740$415$283
43 years$3,443$2,083$1,211$683$377$254
44 years$3,327$1,986$1,137$631$342$228
45 years$3,216$1,893$1,068$583$311$205
46 years$3,111$1,806$1,003$538$282$184
47 years$3,010$1,724$942$497$256$165
48 years$2,914$1,646$885$459$233$148
49 years$2,822$1,571$832$425$211$133
50 years$2,734$1,501$782$392$192$119

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 $4,491 every year, while hoping to spend $20,012 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: 66/6/28 Blend
59$2,800,000$2,800,000$2,800,000$2,800,000
60$3,090,232$2,941,832$2,898,432$3,271,126
61$3,384,144$3,064,690$2,974,237$3,516,627
62$3,707,363$3,192,896$3,051,911$3,782,311
63$4,062,859$3,326,693$3,131,495$4,072,377
64$4,453,901$3,466,332$3,213,031$4,389,231
65$4,884,095$3,612,077$3,296,563$4,735,523
66$5,357,408$3,764,205$3,382,133$5,114,171
67$5,878,216$3,923,003$3,469,787$5,528,388
68$6,451,339$4,088,775$3,559,570$5,981,710
69$7,082,087$4,261,837$3,651,527$6,478,035
70$7,776,311$4,442,518$3,745,705$7,021,652
71$8,540,460$4,631,167$3,842,151$7,617,287
72$9,381,637$4,828,144$3,940,913$8,270,142
73$10,307,671$5,033,830$4,042,041$8,985,951
74$11,327,188$5,248,622$4,145,583$9,771,025
75$12,449,691$5,472,935$4,251,590$10,632,319
76$13,685,654$5,707,203$4,360,113$11,577,491
77$15,046,618$5,951,883$4,471,204$12,614,980
78$16,545,298$6,207,450$4,584,914$13,754,078
79$18,195,707$6,474,404$4,701,297$15,005,025
80$20,013,285$6,753,266$4,820,407$16,379,099
81$22,015,048$7,044,583$4,942,298$17,888,726
82$24,219,743$7,348,928$5,067,026$19,547,593
83$26,648,030$7,666,900$5,194,645$21,370,781
84$29,322,676$7,999,125$5,325,212$23,374,904
85$32,268,767$8,346,260$5,458,785$25,578,266
86$35,513,948$8,708,993$5,595,420$28,001,033
87$39,088,680$9,088,043$5,735,177$30,665,424
88$43,026,533$9,484,165$5,878,113$33,595,918
89$47,364,498$9,898,147$6,024,288$36,819,485
90$52,143,336$10,330,816$6,173,761$40,365,844
91$57,407,967$10,783,037$6,326,593$44,267,736
92$63,207,890$11,255,716$6,482,844$48,561,238
93$69,597,651$11,749,802$6,642,575$53,286,099
94$76,637,358$12,266,289$6,805,848$58,486,119
95$84,393,249$12,806,217$6,972,724$64,209,555
96$92,938,315$13,370,676$7,143,265$70,509,584
97$102,352,992$13,960,808$7,317,533$77,444,798
98$112,725,917$14,577,808$7,495,591$85,079,758
99$124,154,768$15,222,928$7,677,501$93,485,603
100$136,747,183$15,897,480$7,863,325$102,740,721