Can I retire at age 60 with 2,840,000?

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 $2,840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$234,525$232,436$230,397$228,408$226,466$220,454
2 years$116,101$113,939$111,843$109,812$107,841$101,826
3 years$76,632$74,460$72,370$70,357$68,419$62,590
4 years$56,901$54,736$52,667$50,689$48,797$43,198
5 years$45,066$42,914$40,872$38,934$37,094$31,741
6 years$37,178$35,042$33,030$31,136$29,352$24,249
7 years$31,546$29,429$27,448$25,598$23,871$19,019
8 years$27,324$25,226$23,278$21,474$19,803$15,199
9 years$24,042$21,964$20,050$18,291$16,677$12,318
10 years$21,418$19,360$17,480$15,767$14,210$10,089
11 years$19,273$17,235$15,389$13,722$12,221$8,333
12 years$17,486$15,469$13,657$12,036$10,590$6,928
13 years$15,975$13,980$12,202$10,626$9,235$5,791
14 years$14,682$12,707$10,963$9,433$8,095$4,861
15 years$13,561$11,608$9,899$8,412$7,128$4,095
16 years$12,582$10,650$8,974$7,532$6,300$3,460
17 years$11,719$9,808$8,166$6,768$5,586$2,930
18 years$10,953$9,063$7,455$6,099$4,966$2,487
19 years$10,268$8,400$6,825$5,511$4,427$2,114
20 years$9,652$7,806$6,263$4,991$3,954$1,800
21 years$9,096$7,271$5,761$4,530$3,538$1,534
22 years$8,591$6,787$5,310$4,119$3,172$1,309
23 years$8,131$6,348$4,903$3,751$2,847$1,118
24 years$7,709$5,947$4,534$3,421$2,559$956
25 years$7,322$5,581$4,199$3,124$2,303$817
26 years$6,965$5,245$3,895$2,857$2,074$699
27 years$6,635$4,937$3,617$2,615$1,870$599
28 years$6,330$4,652$3,362$2,396$1,687$513
29 years$6,046$4,388$3,129$2,197$1,524$439
30 years$5,781$4,144$2,914$2,016$1,377$376
31 years$5,534$3,918$2,717$1,852$1,245$323
32 years$5,303$3,707$2,535$1,702$1,126$276
33 years$5,086$3,511$2,367$1,565$1,019$237
34 years$4,882$3,327$2,211$1,440$923$203
35 years$4,691$3,156$2,068$1,326$836$174
36 years$4,511$2,995$1,934$1,221$757$150
37 years$4,340$2,845$1,810$1,125$686$128
38 years$4,179$2,704$1,695$1,037$622$110
39 years$4,027$2,571$1,588$956$564$94
40 years$3,883$2,446$1,489$882$512$81
41 years$3,746$2,328$1,396$813$464$70
42 years$3,616$2,217$1,309$751$421$60
43 years$3,492$2,113$1,229$693$382$51
44 years$3,374$2,014$1,153$640$347$44
45 years$3,262$1,920$1,083$591$315$38
46 years$3,155$1,832$1,017$546$286$32
47 years$3,053$1,748$956$504$260$28
48 years$2,955$1,669$898$466$236$24
49 years$2,862$1,594$844$431$214$20
50 years$2,773$1,522$794$398$195$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,840,000, adding $4,296 every year, while hoping to spend $55,251 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: 54/25/21 Blend
59$2,840,000$2,840,000$2,840,000$2,840,000
60$3,134,111$2,983,591$2,939,571$3,285,154
61$3,395,004$3,071,001$2,979,260$3,476,644
62$3,680,656$3,160,841$3,018,427$3,678,829
63$3,993,534$3,253,174$3,056,996$3,897,744
64$4,336,356$3,348,061$3,094,886$4,135,004
65$4,712,113$3,445,565$3,132,014$4,392,389
66$5,124,101$3,545,750$3,168,289$4,671,858
67$5,575,950$3,648,682$3,203,617$4,975,566
68$6,071,656$3,754,426$3,237,898$5,305,888
69$6,615,624$3,863,052$3,271,026$5,665,441
70$7,212,703$3,974,627$3,302,891$6,057,104
71$7,868,237$4,089,222$3,333,375$6,484,049
72$8,588,109$4,206,906$3,362,356$6,949,771
73$9,378,804$4,327,752$3,389,702$7,458,119
74$10,247,463$4,451,833$3,415,279$8,013,331
75$11,201,954$4,579,223$3,438,940$8,620,079
76$12,250,945$4,709,996$3,460,536$9,283,507
77$13,403,983$4,844,228$3,479,906$10,009,283
78$14,671,590$4,981,996$3,496,884$10,803,651
79$16,065,356$5,123,377$3,511,293$11,673,491
80$17,598,050$5,268,450$3,522,949$12,626,382
81$19,283,740$5,417,293$3,531,656$13,670,675
82$21,137,927$5,569,986$3,537,213$14,815,571
83$23,177,690$5,726,610$3,539,404$16,071,207
84$25,421,845$5,887,244$3,538,004$17,448,753
85$27,891,125$6,051,971$3,532,779$18,960,519
86$30,608,373$6,220,870$3,523,480$20,620,065
87$33,598,759$6,394,026$3,509,849$22,442,334
88$36,890,017$6,571,518$3,491,614$24,443,794
89$40,512,706$6,753,429$3,468,490$26,642,590
90$44,500,496$6,939,841$3,440,178$29,058,714
91$48,890,488$7,130,835$3,406,366$31,714,199
92$53,723,565$7,326,492$3,366,726$34,633,323
93$59,044,772$7,526,894$3,320,914$37,842,839
94$64,903,746$7,732,119$3,268,573$41,372,230
95$71,355,182$7,942,247$3,209,324$45,253,981
96$78,459,350$8,157,356$3,142,775$49,523,893
97$86,282,660$8,377,523$3,068,514$54,221,417
98$94,898,291$8,602,822$2,986,110$59,390,028
99$104,386,883$8,833,327$2,895,111$65,077,633
100$114,837,295$9,069,109$2,795,046$71,337,028