Can I retire at age 60 with 2,890,000?

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 $2,890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$238,653$236,528$234,454$232,429$230,453$222,719
2 years$118,145$115,945$113,812$111,745$109,739$102,024
3 years$77,981$75,771$73,644$71,596$69,623$62,169
4 years$57,903$55,700$53,594$51,581$49,656$42,519
5 years$45,859$43,669$41,591$39,619$37,748$30,948
6 years$37,833$35,659$33,612$31,684$29,868$23,411
7 years$32,102$29,947$27,932$26,049$24,291$18,174
8 years$27,805$25,670$23,688$21,852$20,152$14,372
9 years$24,466$22,350$20,403$18,613$16,971$11,520
10 years$21,795$19,701$17,788$16,044$14,460$9,330
11 years$19,612$17,538$15,660$13,964$12,436$7,617
12 years$17,794$15,741$13,898$12,248$10,777$6,258
13 years$16,257$14,226$12,417$10,813$9,398$5,167
14 years$14,940$12,931$11,156$9,599$8,238$4,284
15 years$13,800$11,812$10,073$8,560$7,253$3,563
16 years$12,804$10,838$9,132$7,665$6,410$2,972
17 years$11,925$9,981$8,310$6,887$5,684$2,484
18 years$11,146$9,223$7,586$6,206$5,054$2,080
19 years$10,449$8,548$6,945$5,608$4,505$1,745
20 years$9,822$7,943$6,374$5,079$4,024$1,465
21 years$9,256$7,399$5,862$4,610$3,601$1,232
22 years$8,742$6,906$5,403$4,191$3,228$1,036
23 years$8,274$6,459$4,989$3,817$2,897$872
24 years$7,845$6,052$4,614$3,481$2,604$735
25 years$7,451$5,679$4,273$3,179$2,343$620
26 years$7,088$5,338$3,963$2,907$2,111$523
27 years$6,752$5,024$3,680$2,661$1,903$441
28 years$6,441$4,734$3,421$2,438$1,717$372
29 years$6,152$4,466$3,184$2,236$1,551$314
30 years$5,883$4,217$2,966$2,052$1,401$265
31 years$5,631$3,987$2,765$1,884$1,267$224
32 years$5,396$3,772$2,580$1,732$1,146$189
33 years$5,176$3,572$2,409$1,593$1,037$160
34 years$4,968$3,386$2,250$1,465$939$135
35 years$4,774$3,211$2,104$1,349$850$114
36 years$4,590$3,048$1,968$1,242$770$96
37 years$4,417$2,895$1,842$1,145$698$81
38 years$4,253$2,751$1,725$1,055$633$69
39 years$4,098$2,616$1,616$973$574$58
40 years$3,951$2,489$1,515$897$521$49
41 years$3,812$2,369$1,421$828$472$42
42 years$3,679$2,257$1,332$764$429$35
43 years$3,554$2,150$1,250$705$389$30
44 years$3,434$2,049$1,174$651$353$25
45 years$3,320$1,954$1,102$601$321$21
46 years$3,211$1,864$1,035$555$291$18
47 years$3,107$1,779$972$513$264$15
48 years$3,007$1,698$914$474$240$13
49 years$2,913$1,622$859$438$218$11
50 years$2,822$1,549$808$405$198$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,890,000, adding $5,435 every year, while hoping to spend $20,694 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: 73/19/8 Blend
59$2,890,000$2,890,000$2,890,000$2,890,000
60$3,190,386$3,037,216$2,992,421$3,418,814
61$3,493,787$3,164,022$3,070,649$3,697,018
62$3,827,442$3,296,347$3,150,804$3,998,491
63$4,194,414$3,434,441$3,232,929$4,328,080
64$4,598,079$3,578,563$3,317,067$4,688,558
65$5,042,156$3,728,986$3,403,262$5,082,974
66$5,530,745$3,885,995$3,491,560$5,514,685
67$6,068,359$4,049,887$3,582,005$5,987,388
68$6,659,975$4,220,975$3,674,646$6,505,150
69$7,311,073$4,399,584$3,769,527$7,072,451
70$8,027,695$4,586,056$3,866,699$7,694,222
71$8,816,496$4,780,748$3,966,209$8,375,891
72$9,684,808$4,984,034$4,068,107$9,123,437
73$10,640,713$5,196,306$4,172,443$9,943,443
74$11,693,113$5,417,973$4,279,267$10,843,157
75$12,851,821$5,649,464$4,388,633$11,830,561
76$14,127,646$5,891,227$4,500,591$12,914,446
77$15,532,500$6,143,732$4,615,196$14,104,493
78$17,079,511$6,407,470$4,732,500$15,411,364
79$18,783,142$6,682,957$4,852,560$16,846,802
80$20,659,331$6,970,730$4,975,429$18,423,741
81$22,725,641$7,271,354$5,101,164$20,156,426
82$25,001,424$7,585,419$5,229,821$22,060,548
83$27,508,008$7,913,542$5,361,459$24,153,391
84$30,268,891$8,256,372$5,496,133$26,453,994
85$33,309,968$8,614,585$5,633,904$28,983,328
86$36,659,775$8,988,890$5,774,831$31,764,495
87$40,349,757$9,380,030$5,918,972$34,822,943
88$44,414,563$9,788,783$6,066,389$38,186,708
89$48,892,377$10,215,962$6,217,142$41,886,675
90$53,825,276$10,662,420$6,371,292$45,956,866
91$59,259,625$11,129,049$6,528,901$50,434,765
92$65,246,519$11,616,785$6,690,032$55,361,666
93$71,842,262$12,126,606$6,854,746$60,783,066
94$79,108,900$12,659,537$7,023,107$66,749,086
95$87,114,805$13,216,651$7,195,178$73,314,948
96$95,935,322$13,799,073$7,371,023$80,541,494
97$105,653,477$14,407,981$7,550,705$88,495,757
98$116,360,766$15,044,606$7,734,288$97,251,590
99$128,158,014$15,710,241$7,921,836$106,890,367
100$141,156,327$16,406,238$8,113,413$117,501,743