Can I retire at age 60 with 2,830,000?

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 $2,830,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$233,699$231,617$229,586$227,604$225,668$223,777
2 years$115,692$113,538$111,450$109,425$107,461$105,555
3 years$76,362$74,198$72,115$70,110$68,178$66,316
4 years$56,701$54,544$52,481$50,510$48,625$46,822
5 years$44,907$42,763$40,728$38,797$36,964$35,225
6 years$37,047$34,919$32,914$31,026$29,248$27,575
7 years$31,435$29,325$27,352$25,508$23,787$22,180
8 years$27,228$25,137$23,196$21,398$19,733$18,194
9 years$23,958$21,886$19,979$18,226$16,618$15,145
10 years$21,343$19,292$17,418$15,711$14,160$12,752
11 years$19,205$17,174$15,335$13,674$12,178$10,834
12 years$17,424$15,415$13,609$11,994$10,553$9,273
13 years$15,919$13,930$12,159$10,589$9,202$7,984
14 years$14,630$12,662$10,925$9,399$8,067$6,908
15 years$13,514$11,567$9,864$8,383$7,103$6,003
16 years$12,538$10,613$8,943$7,506$6,277$5,234
17 years$11,678$9,774$8,138$6,744$5,566$4,578
18 years$10,914$9,032$7,429$6,077$4,949$4,014
19 years$10,232$8,370$6,801$5,492$4,411$3,527
20 years$9,618$7,778$6,241$4,974$3,940$3,106
21 years$9,064$7,245$5,741$4,514$3,526$2,739
22 years$8,561$6,763$5,291$4,104$3,160$2,419
23 years$8,102$6,325$4,885$3,738$2,837$2,139
24 years$7,682$5,926$4,518$3,409$2,550$1,894
25 years$7,296$5,562$4,185$3,113$2,295$1,678
26 years$6,941$5,227$3,881$2,847$2,067$1,489
27 years$6,612$4,919$3,604$2,606$1,863$1,321
28 years$6,307$4,635$3,350$2,387$1,681$1,173
29 years$6,024$4,373$3,118$2,189$1,518$1,043
30 years$5,761$4,130$2,904$2,009$1,372$927
31 years$5,514$3,904$2,707$1,845$1,240$825
32 years$5,284$3,694$2,526$1,696$1,122$734
33 years$5,068$3,498$2,359$1,559$1,015$653
34 years$4,865$3,316$2,204$1,435$919$582
35 years$4,674$3,145$2,060$1,321$833$518
36 years$4,495$2,985$1,927$1,216$754$462
37 years$4,325$2,835$1,804$1,121$684$412
38 years$4,165$2,694$1,689$1,033$620$367
39 years$4,013$2,562$1,583$953$562$327
40 years$3,869$2,437$1,483$879$510$292
41 years$3,733$2,320$1,391$811$463$260
42 years$3,603$2,210$1,305$748$420$232
43 years$3,480$2,105$1,224$691$381$207
44 years$3,362$2,007$1,149$638$346$185
45 years$3,251$1,914$1,079$589$314$165
46 years$3,144$1,826$1,014$544$285$147
47 years$3,042$1,742$952$503$259$131
48 years$2,945$1,663$895$464$235$117
49 years$2,852$1,588$841$429$213$104
50 years$2,763$1,517$791$397$194$93

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,830,000, adding $4,293 every year, while hoping to spend $31,749 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: 60/12/28 Blend
59$2,830,000$2,830,000$2,830,000$2,830,000
60$3,123,088$2,973,098$2,929,233$3,286,562
61$3,407,863$3,084,999$2,993,582$3,510,484
62$3,720,620$3,201,320$3,059,022$3,750,940
63$4,064,181$3,322,242$3,125,557$4,012,662
64$4,441,652$3,447,957$3,193,188$4,297,729
65$4,856,459$3,578,665$3,261,918$4,608,430
66$5,312,370$3,714,572$3,331,745$4,947,286
67$5,813,542$3,855,896$3,402,669$5,317,070
68$6,364,552$4,002,864$3,474,687$5,720,837
69$6,970,443$4,155,711$3,547,795$6,161,949
70$7,636,771$4,314,683$3,621,989$6,644,111
71$8,369,658$4,480,039$3,697,262$7,171,401
72$9,175,848$4,652,046$3,773,605$7,748,309
73$10,062,773$4,830,985$3,851,010$8,379,782
74$11,038,620$5,017,147$3,929,463$9,071,268
75$12,112,411$5,210,840$4,008,952$9,828,765
76$13,294,087$5,412,380$4,089,461$10,658,882
77$14,594,599$5,622,102$4,170,973$11,568,897
78$16,026,015$5,840,352$4,253,468$12,566,829
79$17,601,633$6,067,493$4,336,923$13,661,508
80$19,336,104$6,303,905$4,421,315$14,862,664
81$21,245,573$6,549,983$4,506,615$16,181,012
82$23,347,829$6,806,140$4,592,795$17,628,358
83$25,662,475$7,072,808$4,679,820$19,217,710
84$28,211,109$7,350,437$4,767,656$20,963,393
85$31,017,532$7,639,498$4,856,263$22,881,194
86$34,107,970$7,940,484$4,945,597$24,988,503
87$37,511,323$8,253,907$5,035,615$27,304,480
88$41,259,434$8,580,305$5,126,264$29,850,232
89$45,387,394$8,920,238$5,217,492$32,649,018
90$49,933,870$9,274,292$5,309,240$35,726,460
91$54,941,472$9,643,078$5,401,446$39,110,791
92$60,457,150$10,027,238$5,494,043$42,833,118
93$66,532,645$10,427,438$5,586,958$46,927,713
94$73,224,969$10,844,376$5,680,116$51,432,339
95$80,596,949$11,278,784$5,773,433$56,388,606
96$88,717,817$11,731,424$5,866,822$61,842,361
97$97,663,862$12,203,092$5,960,189$67,844,119
98$107,519,155$12,694,621$6,053,433$74,449,544
99$118,376,335$13,206,884$6,146,449$81,719,968
100$130,337,489$13,740,789$6,239,124$89,722,973