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%19.1%
1 years$234,525$232,436$230,397$228,408$226,466$218,170
2 years$116,101$113,939$111,843$109,812$107,841$99,576
3 years$76,632$74,460$72,370$70,357$68,419$60,444
4 years$56,901$54,736$52,667$50,689$48,797$41,173
5 years$45,066$42,914$40,872$38,934$37,094$29,841
6 years$37,178$35,042$33,030$31,136$29,352$22,475
7 years$31,546$29,429$27,448$25,598$23,871$17,368
8 years$27,324$25,226$23,278$21,474$19,803$13,669
9 years$24,042$21,964$20,050$18,291$16,677$10,903
10 years$21,418$19,360$17,480$15,767$14,210$8,786
11 years$19,273$17,235$15,389$13,722$12,221$7,136
12 years$17,486$15,469$13,657$12,036$10,590$5,831
13 years$15,975$13,980$12,202$10,626$9,235$4,789
14 years$14,682$12,707$10,963$9,433$8,095$3,948
15 years$13,561$11,608$9,899$8,412$7,128$3,265
16 years$12,582$10,650$8,974$7,532$6,300$2,708
17 years$11,719$9,808$8,166$6,768$5,586$2,250
18 years$10,953$9,063$7,455$6,099$4,966$1,873
19 years$10,268$8,400$6,825$5,511$4,427$1,561
20 years$9,652$7,806$6,263$4,991$3,954$1,303
21 years$9,096$7,271$5,761$4,530$3,538$1,089
22 years$8,591$6,787$5,310$4,119$3,172$910
23 years$8,131$6,348$4,903$3,751$2,847$762
24 years$7,709$5,947$4,534$3,421$2,559$638
25 years$7,322$5,581$4,199$3,124$2,303$534
26 years$6,965$5,245$3,895$2,857$2,074$447
27 years$6,635$4,937$3,617$2,615$1,870$375
28 years$6,330$4,652$3,362$2,396$1,687$314
29 years$6,046$4,388$3,129$2,197$1,524$264
30 years$5,781$4,144$2,914$2,016$1,377$221
31 years$5,534$3,918$2,717$1,852$1,245$186
32 years$5,303$3,707$2,535$1,702$1,126$156
33 years$5,086$3,511$2,367$1,565$1,019$131
34 years$4,882$3,327$2,211$1,440$923$110
35 years$4,691$3,156$2,068$1,326$836$92
36 years$4,511$2,995$1,934$1,221$757$77
37 years$4,340$2,845$1,810$1,125$686$65
38 years$4,179$2,704$1,695$1,037$622$54
39 years$4,027$2,571$1,588$956$564$46
40 years$3,883$2,446$1,489$882$512$38
41 years$3,746$2,328$1,396$813$464$32
42 years$3,616$2,217$1,309$751$421$27
43 years$3,492$2,113$1,229$693$382$23
44 years$3,374$2,014$1,153$640$347$19
45 years$3,262$1,920$1,083$591$315$16
46 years$3,155$1,832$1,017$546$286$13
47 years$3,053$1,748$956$504$260$11
48 years$2,955$1,669$898$466$236$9
49 years$2,862$1,594$844$431$214$8
50 years$2,773$1,522$794$398$195$7

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 $6,217 every year, while hoping to spend $34,316 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: 71/15/14 Blend
59$2,840,000$2,840,000$2,840,000$2,840,000
60$3,136,093$2,985,573$2,941,553$3,348,593
61$3,419,462$3,095,354$3,003,583$3,600,182
62$3,730,585$3,209,364$3,066,541$3,870,757
63$4,072,257$3,327,775$3,130,422$4,166,062
64$4,447,555$3,450,763$3,195,218$4,488,534
65$4,859,871$3,578,516$3,260,924$4,840,854
66$5,312,941$3,711,227$3,327,528$5,225,974
67$5,810,882$3,849,098$3,395,021$5,647,146
68$6,358,227$3,992,339$3,463,389$6,107,948
69$6,959,972$4,141,169$3,532,619$6,612,321
70$7,621,621$4,295,819$3,602,694$7,164,606
71$8,349,238$4,456,526$3,673,596$7,769,583
72$9,149,504$4,623,539$3,745,305$8,432,514
73$10,029,779$4,797,118$3,817,798$9,159,198
74$10,998,173$4,977,533$3,891,051$9,956,017
75$12,063,623$5,165,068$3,965,037$10,830,005
76$13,235,972$5,360,017$4,039,726$11,788,907
77$14,526,070$5,562,686$4,115,085$12,841,254
78$15,945,869$5,773,398$4,191,081$13,996,443
79$17,508,539$5,992,485$4,267,673$15,264,828
80$19,228,591$6,220,298$4,344,821$16,657,809
81$21,122,015$6,457,201$4,422,480$18,187,951
82$23,206,430$6,703,573$4,500,603$19,869,089
83$25,501,249$6,959,811$4,579,136$21,716,470
84$28,027,864$7,226,330$4,658,025$23,746,887
85$30,809,847$7,503,560$4,737,209$25,978,844
86$33,873,171$7,791,954$4,816,625$28,432,724
87$37,246,457$8,091,982$4,896,205$31,130,985
88$40,961,242$8,404,136$4,975,874$34,098,369
89$45,052,277$8,728,928$5,055,555$37,362,137
90$49,557,858$9,066,893$5,135,164$40,952,322
91$54,520,181$9,418,592$5,214,613$44,902,017
92$59,985,744$9,784,608$5,293,807$49,247,680
93$66,005,786$10,165,551$5,372,647$54,029,485
94$72,636,771$10,562,056$5,451,024$59,291,692
95$79,940,914$10,974,791$5,528,827$65,083,072
96$87,986,780$11,404,447$5,605,935$71,457,359
97$96,849,918$11,851,752$5,682,220$78,473,764
98$106,613,583$12,317,461$5,757,548$86,197,527
99$117,369,519$12,802,367$5,831,776$94,700,532
100$129,218,823$13,307,296$5,904,754$104,061,990