Can I retire at age 60 with 2,880,000?

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 $2,880,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$237,828$235,709$233,642$231,625$229,655$222,126
2 years$117,736$115,544$113,419$111,358$109,360$101,846
3 years$77,711$75,509$73,389$71,348$69,382$62,120
4 years$57,703$55,507$53,409$51,402$49,484$42,529
5 years$45,701$43,518$41,447$39,482$37,617$30,987
6 years$37,702$35,536$33,496$31,574$29,765$23,466
7 years$31,991$29,843$27,835$25,959$24,207$18,238
8 years$27,709$25,581$23,606$21,776$20,082$14,439
9 years$24,381$22,273$20,332$18,548$16,912$11,588
10 years$21,720$19,632$17,726$15,989$14,410$9,397
11 years$19,544$17,478$15,606$13,915$12,393$7,682
12 years$17,732$15,687$13,850$12,205$10,739$6,319
13 years$16,200$14,176$12,374$10,776$9,365$5,225
14 years$14,888$12,886$11,118$9,565$8,209$4,338
15 years$13,752$11,772$10,038$8,531$7,228$3,613
16 years$12,759$10,800$9,101$7,638$6,388$3,018
17 years$11,884$9,947$8,281$6,863$5,664$2,526
18 years$11,107$9,191$7,560$6,185$5,036$2,119
19 years$10,413$8,518$6,921$5,589$4,489$1,780
20 years$9,788$7,916$6,351$5,062$4,010$1,497
21 years$9,224$7,373$5,842$4,594$3,588$1,260
22 years$8,712$6,882$5,384$4,177$3,216$1,062
23 years$8,245$6,437$4,972$3,804$2,887$896
24 years$7,818$6,031$4,598$3,469$2,595$756
25 years$7,425$5,660$4,259$3,168$2,335$638
26 years$7,063$5,319$3,950$2,897$2,103$539
27 years$6,729$5,006$3,668$2,652$1,896$455
28 years$6,419$4,717$3,409$2,429$1,711$385
29 years$6,131$4,450$3,173$2,228$1,545$325
30 years$5,862$4,203$2,955$2,045$1,396$275
31 years$5,612$3,973$2,755$1,878$1,262$233
32 years$5,377$3,759$2,571$1,726$1,142$197
33 years$5,158$3,560$2,400$1,587$1,033$167
34 years$4,951$3,374$2,243$1,460$936$141
35 years$4,757$3,200$2,097$1,344$847$119
36 years$4,574$3,038$1,961$1,238$768$101
37 years$4,401$2,885$1,836$1,141$696$85
38 years$4,238$2,742$1,719$1,051$631$72
39 years$4,084$2,607$1,611$969$572$61
40 years$3,937$2,480$1,510$894$519$52
41 years$3,799$2,361$1,416$825$471$44
42 years$3,667$2,249$1,328$761$427$37
43 years$3,541$2,143$1,246$703$388$31
44 years$3,422$2,042$1,170$649$352$27
45 years$3,308$1,948$1,098$599$319$23
46 years$3,200$1,858$1,031$554$290$19
47 years$3,096$1,773$969$511$263$16
48 years$2,997$1,693$911$473$239$14
49 years$2,902$1,616$856$437$217$12
50 years$2,812$1,544$805$404$197$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,880,000, adding $3,878 every year, while hoping to spend $28,558 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: 28/46/26 Blend
59$2,880,000$2,880,000$2,880,000$2,880,000
60$3,177,760$3,025,120$2,980,480$3,240,917
61$3,471,506$3,142,966$3,049,941$3,409,141
62$3,794,257$3,265,628$3,120,771$3,587,009
63$4,148,942$3,393,314$3,192,987$3,777,528
64$4,538,785$3,526,238$3,266,604$3,981,802
65$4,967,343$3,664,625$3,341,636$4,201,040
66$5,438,529$3,808,709$3,418,099$4,436,567
67$5,956,659$3,958,736$3,496,005$4,689,836
68$6,526,485$4,114,961$3,575,368$4,962,441
69$7,153,245$4,277,652$3,656,201$5,256,130
70$7,842,707$4,447,088$3,738,515$5,572,822
71$8,601,229$4,623,561$3,822,321$5,914,622
72$9,435,815$4,807,376$3,907,629$6,283,842
73$10,354,182$4,998,852$3,994,449$6,683,018
74$11,364,834$5,198,322$4,082,789$7,114,937
75$12,477,141$5,406,133$4,172,656$7,582,662
76$13,701,425$5,622,649$4,264,055$8,089,553
77$15,049,062$5,848,250$4,356,993$8,639,306
78$16,532,585$6,083,334$4,451,471$9,235,980
79$18,165,807$6,328,315$4,547,493$9,884,040
80$19,963,944$6,583,628$4,645,059$10,588,388
81$21,943,766$6,849,725$4,744,169$11,354,420
82$24,123,750$7,127,082$4,844,818$12,188,063
83$26,524,257$7,416,193$4,947,004$13,095,839
84$29,167,722$7,717,577$5,050,719$14,084,919
85$32,078,866$8,031,775$5,155,955$15,163,190
86$35,284,933$8,359,354$5,262,702$16,339,328
87$38,815,940$8,700,907$5,370,946$17,622,879
88$42,704,966$9,057,051$5,480,673$19,024,344
89$46,988,462$9,428,436$5,591,865$20,555,278
90$51,706,593$9,815,737$5,704,500$22,228,396
91$56,903,621$10,219,664$5,818,556$24,057,690
92$62,628,318$10,640,955$5,934,006$26,058,561
93$68,934,432$11,080,387$6,050,820$28,247,957
94$75,881,187$11,538,769$6,168,966$30,644,537
95$83,533,847$12,016,948$6,288,405$33,268,836
96$91,964,331$12,515,810$6,409,098$36,143,463
97$101,251,890$13,036,282$6,531,001$39,293,307
98$111,483,858$13,579,335$6,654,064$42,745,770
99$122,756,470$14,145,981$6,778,234$46,531,023
100$135,175,779$14,737,283$6,903,454$50,682,286