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

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 $2,880,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$237,828$235,709$233,642$231,625$229,655$226,410
2 years$117,736$115,544$113,419$111,358$109,360$106,097
3 years$77,711$75,509$73,389$71,348$69,382$66,203
4 years$57,703$55,507$53,409$51,402$49,484$46,412
5 years$45,701$43,518$41,447$39,482$37,617$34,662
6 years$37,702$35,536$33,496$31,574$29,765$26,931
7 years$31,991$29,843$27,835$25,959$24,207$21,494
8 years$27,709$25,581$23,606$21,776$20,082$17,490
9 years$24,381$22,273$20,332$18,548$16,912$14,439
10 years$21,720$19,632$17,726$15,989$14,410$12,055
11 years$19,544$17,478$15,606$13,915$12,393$10,154
12 years$17,732$15,687$13,850$12,205$10,739$8,613
13 years$16,200$14,176$12,374$10,776$9,365$7,349
14 years$14,888$12,886$11,118$9,565$8,209$6,300
15 years$13,752$11,772$10,038$8,531$7,228$5,423
16 years$12,759$10,800$9,101$7,638$6,388$4,683
17 years$11,884$9,947$8,281$6,863$5,664$4,056
18 years$11,107$9,191$7,560$6,185$5,036$3,521
19 years$10,413$8,518$6,921$5,589$4,489$3,063
20 years$9,788$7,916$6,351$5,062$4,010$2,669
21 years$9,224$7,373$5,842$4,594$3,588$2,329
22 years$8,712$6,882$5,384$4,177$3,216$2,036
23 years$8,245$6,437$4,972$3,804$2,887$1,781
24 years$7,818$6,031$4,598$3,469$2,595$1,560
25 years$7,425$5,660$4,259$3,168$2,335$1,367
26 years$7,063$5,319$3,950$2,897$2,103$1,199
27 years$6,729$5,006$3,668$2,652$1,896$1,053
28 years$6,419$4,717$3,409$2,429$1,711$924
29 years$6,131$4,450$3,173$2,228$1,545$812
30 years$5,862$4,203$2,955$2,045$1,396$714
31 years$5,612$3,973$2,755$1,878$1,262$628
32 years$5,377$3,759$2,571$1,726$1,142$552
33 years$5,158$3,560$2,400$1,587$1,033$486
34 years$4,951$3,374$2,243$1,460$936$428
35 years$4,757$3,200$2,097$1,344$847$377
36 years$4,574$3,038$1,961$1,238$768$332
37 years$4,401$2,885$1,836$1,141$696$292
38 years$4,238$2,742$1,719$1,051$631$257
39 years$4,084$2,607$1,611$969$572$227
40 years$3,937$2,480$1,510$894$519$200
41 years$3,799$2,361$1,416$825$471$176
42 years$3,667$2,249$1,328$761$427$155
43 years$3,541$2,143$1,246$703$388$137
44 years$3,422$2,042$1,170$649$352$120
45 years$3,308$1,948$1,098$599$319$106
46 years$3,200$1,858$1,031$554$290$94
47 years$3,096$1,773$969$511$263$82
48 years$2,997$1,693$911$473$239$73
49 years$2,902$1,616$856$437$217$64
50 years$2,812$1,544$805$404$197$57

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 $4,839 every year, while hoping to spend $34,363 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: 49/45/6 Blend
59$2,880,000$2,880,000$2,880,000$2,880,000
60$3,178,751$3,026,111$2,981,471$3,329,450
61$3,466,422$3,137,829$3,044,789$3,544,525
62$3,782,283$3,253,869$3,109,076$3,773,932
63$4,129,175$3,374,407$3,174,328$4,022,281
64$4,510,224$3,499,626$3,240,541$4,291,346
65$4,928,875$3,629,716$3,307,708$4,583,077
66$5,388,926$3,764,878$3,375,821$4,899,618
67$5,894,556$3,905,317$3,444,871$5,243,325
68$6,450,374$4,051,250$3,514,848$5,616,785
69$7,061,454$4,202,904$3,585,737$6,022,846
70$7,733,389$4,360,512$3,657,525$6,464,637
71$8,472,338$4,524,320$3,730,196$6,945,599
72$9,285,089$4,694,585$3,803,730$7,469,518
73$10,179,121$4,871,573$3,878,109$8,040,557
74$11,162,674$5,055,562$3,953,307$8,663,295
75$12,244,825$5,246,843$4,029,301$9,342,769
76$13,435,578$5,445,719$4,106,064$10,084,522
77$14,745,953$5,652,506$4,183,563$10,894,654
78$16,188,096$5,867,534$4,261,768$11,779,876
79$17,775,385$6,091,146$4,340,641$12,747,572
80$19,522,565$6,323,704$4,420,143$13,805,872
81$21,445,882$6,565,580$4,500,233$14,963,722
82$23,563,235$6,817,167$4,580,864$16,230,971
83$25,894,349$7,078,872$4,661,987$17,618,458
84$28,460,959$7,351,122$4,743,549$19,138,118
85$31,287,012$7,634,363$4,825,494$20,803,089
86$34,398,898$7,929,058$4,907,759$22,627,837
87$37,825,696$8,235,692$4,990,279$24,628,288
88$41,599,448$8,554,771$5,072,984$26,821,979
89$45,755,461$8,886,825$5,155,799$29,228,222
90$50,332,644$9,232,405$5,238,643$31,868,280
91$55,373,867$9,592,087$5,321,432$34,765,571
92$60,926,376$9,966,473$5,404,074$37,945,885
93$67,042,228$10,356,192$5,486,473$41,437,622
94$73,778,790$10,761,900$5,568,524$45,272,064
95$81,199,277$11,184,283$5,650,120$49,483,661
96$89,373,347$11,624,057$5,731,142$54,110,359
97$98,377,762$12,081,970$5,811,469$59,193,954
98$108,297,110$12,558,802$5,890,970$64,780,483
99$119,224,603$13,055,372$5,969,505$70,920,655
100$131,262,958$13,572,530$6,046,929$77,670,329