Can I retire at age 60 with 2,900,000?

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 $2,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$239,479$237,346$235,265$233,234$231,250$226,396
2 years$118,554$116,346$114,206$112,132$110,119$105,251
3 years$78,251$76,033$73,899$71,844$69,864$65,135
4 years$58,103$55,893$53,780$51,759$49,828$45,273
5 years$46,018$43,821$41,735$39,756$37,878$33,512
6 years$37,964$35,783$33,728$31,793$29,972$25,798
7 years$32,213$30,050$28,028$26,139$24,375$20,394
8 years$27,902$25,759$23,770$21,927$20,221$16,433
9 years$24,550$22,428$20,473$18,677$17,029$13,430
10 years$21,871$19,769$17,849$16,100$14,510$11,096
11 years$19,680$17,599$15,714$14,012$12,479$9,247
12 years$17,855$15,796$13,946$12,290$10,814$7,758
13 years$16,313$14,275$12,460$10,850$9,430$6,546
14 years$14,992$12,975$11,195$9,632$8,266$5,548
15 years$13,848$11,853$10,108$8,590$7,278$4,719
16 years$12,848$10,875$9,164$7,691$6,433$4,027
17 years$11,967$10,016$8,339$6,911$5,704$3,446
18 years$11,184$9,255$7,612$6,228$5,071$2,955
19 years$10,485$8,577$6,969$5,627$4,520$2,538
20 years$9,856$7,970$6,396$5,097$4,038$2,184
21 years$9,288$7,424$5,883$4,626$3,613$1,882
22 years$8,772$6,930$5,422$4,206$3,239$1,623
23 years$8,302$6,482$5,006$3,830$2,907$1,401
24 years$7,872$6,073$4,630$3,493$2,613$1,211
25 years$7,477$5,699$4,288$3,190$2,351$1,047
26 years$7,112$5,356$3,977$2,917$2,118$906
27 years$6,776$5,041$3,693$2,670$1,910$785
28 years$6,463$4,750$3,433$2,446$1,723$680
29 years$6,173$4,481$3,195$2,243$1,556$589
30 years$5,903$4,232$2,976$2,059$1,406$511
31 years$5,651$4,001$2,774$1,891$1,271$443
32 years$5,415$3,785$2,588$1,738$1,150$384
33 years$5,193$3,585$2,417$1,598$1,040$333
34 years$4,986$3,398$2,258$1,470$942$289
35 years$4,790$3,223$2,111$1,354$853$251
36 years$4,606$3,059$1,975$1,247$773$218
37 years$4,432$2,905$1,849$1,149$701$189
38 years$4,268$2,761$1,731$1,059$635$164
39 years$4,112$2,625$1,622$976$576$142
40 years$3,965$2,498$1,520$900$522$124
41 years$3,825$2,378$1,425$831$474$107
42 years$3,692$2,264$1,337$767$430$93
43 years$3,566$2,157$1,255$708$390$81
44 years$3,446$2,056$1,178$653$354$70
45 years$3,331$1,961$1,106$603$322$61
46 years$3,222$1,871$1,039$557$292$53
47 years$3,118$1,785$976$515$265$46
48 years$3,018$1,704$917$476$241$40
49 years$2,923$1,628$862$440$219$35
50 years$2,831$1,555$810$406$199$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,900,000, adding $5,884 every year, while hoping to spend $28,207 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: 47/36/17 Blend
59$2,900,000$2,900,000$2,900,000$2,900,000
60$3,201,869$3,048,169$3,003,219$3,336,705
61$3,498,448$3,167,518$3,073,815$3,550,361
62$3,824,332$3,291,769$3,145,831$3,778,791
63$4,182,482$3,421,133$3,219,283$4,026,119
64$4,576,156$3,555,830$3,294,191$4,294,118
65$5,008,948$3,696,089$3,370,570$4,584,740
66$5,484,815$3,842,152$3,448,438$4,900,126
67$6,008,116$3,994,267$3,527,811$5,242,634
68$6,583,654$4,152,697$3,608,703$5,614,851
69$7,216,724$4,317,715$3,691,131$6,019,627
70$7,913,154$4,489,608$3,775,109$6,460,091
71$8,679,371$4,668,674$3,860,650$6,939,686
72$9,522,453$4,855,225$3,947,768$7,462,198
73$10,450,199$5,049,588$4,036,475$8,031,794
74$11,471,204$5,252,102$4,126,781$8,653,055
75$12,594,937$5,463,125$4,218,698$9,331,022
76$13,831,831$5,683,028$4,312,235$10,071,241
77$15,193,383$5,912,201$4,407,400$10,879,816
78$16,692,260$6,151,052$4,504,200$11,763,462
79$18,342,421$6,400,004$4,602,641$12,729,570
80$20,159,246$6,659,502$4,702,728$13,786,276
81$22,159,683$6,930,012$4,804,463$14,942,534
82$24,362,407$7,212,019$4,907,849$16,208,199
83$26,787,996$7,506,030$5,012,885$17,594,123
84$29,459,124$7,812,579$5,119,569$19,112,249
85$32,400,778$8,132,218$5,227,898$20,775,728
86$35,640,490$8,465,530$5,337,866$22,599,039
87$39,208,601$8,813,122$5,449,465$24,598,125
88$43,138,541$9,175,628$5,562,685$26,790,538
89$47,467,151$9,553,712$5,677,514$29,195,609
90$52,235,027$9,948,070$5,793,936$31,834,623
91$57,486,901$10,359,428$5,911,935$34,731,021
92$63,272,071$10,788,545$6,031,490$37,910,620
93$69,644,854$11,236,216$6,152,578$41,401,848
94$76,665,111$11,703,273$6,275,171$45,236,021
95$84,398,804$12,190,584$6,399,240$49,447,623
96$92,918,619$12,699,060$6,524,752$54,074,643
97$102,304,657$13,229,653$6,651,670$59,158,918
98$112,645,183$13,783,357$6,779,952$64,746,535
99$124,037,464$14,361,214$6,909,553$70,888,258
100$136,588,686$14,964,314$7,040,424$77,640,005