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

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 $2,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$239,479$237,346$235,265$233,234$231,250$222,338
2 years$118,554$116,346$114,206$112,132$110,119$101,247
3 years$78,251$76,033$73,899$71,844$69,864$61,311
4 years$58,103$55,893$53,780$51,759$49,828$41,658
5 years$46,018$43,821$41,735$39,756$37,878$30,114
6 years$37,964$35,783$33,728$31,793$29,972$22,617
7 years$32,213$30,050$28,028$26,139$24,375$17,429
8 years$27,902$25,759$23,770$21,927$20,221$13,676
9 years$24,550$22,428$20,473$18,677$17,029$10,875
10 years$21,871$19,769$17,849$16,100$14,510$8,736
11 years$19,680$17,599$15,714$14,012$12,479$7,072
12 years$17,855$15,796$13,946$12,290$10,814$5,760
13 years$16,313$14,275$12,460$10,850$9,430$4,714
14 years$14,992$12,975$11,195$9,632$8,266$3,873
15 years$13,848$11,853$10,108$8,590$7,278$3,192
16 years$12,848$10,875$9,164$7,691$6,433$2,637
17 years$11,967$10,016$8,339$6,911$5,704$2,183
18 years$11,184$9,255$7,612$6,228$5,071$1,810
19 years$10,485$8,577$6,969$5,627$4,520$1,504
20 years$9,856$7,970$6,396$5,097$4,038$1,250
21 years$9,288$7,424$5,883$4,626$3,613$1,040
22 years$8,772$6,930$5,422$4,206$3,239$866
23 years$8,302$6,482$5,006$3,830$2,907$722
24 years$7,872$6,073$4,630$3,493$2,613$602
25 years$7,477$5,699$4,288$3,190$2,351$502
26 years$7,112$5,356$3,977$2,917$2,118$419
27 years$6,776$5,041$3,693$2,670$1,910$350
28 years$6,463$4,750$3,433$2,446$1,723$292
29 years$6,173$4,481$3,195$2,243$1,556$244
30 years$5,903$4,232$2,976$2,059$1,406$204
31 years$5,651$4,001$2,774$1,891$1,271$170
32 years$5,415$3,785$2,588$1,738$1,150$142
33 years$5,193$3,585$2,417$1,598$1,040$119
34 years$4,986$3,398$2,258$1,470$942$99
35 years$4,790$3,223$2,111$1,354$853$83
36 years$4,606$3,059$1,975$1,247$773$69
37 years$4,432$2,905$1,849$1,149$701$58
38 years$4,268$2,761$1,731$1,059$635$49
39 years$4,112$2,625$1,622$976$576$41
40 years$3,965$2,498$1,520$900$522$34
41 years$3,825$2,378$1,425$831$474$28
42 years$3,692$2,264$1,337$767$430$24
43 years$3,566$2,157$1,255$708$390$20
44 years$3,446$2,056$1,178$653$354$17
45 years$3,331$1,961$1,106$603$322$14
46 years$3,222$1,871$1,039$557$292$12
47 years$3,118$1,785$976$515$265$10
48 years$3,018$1,704$917$476$241$8
49 years$2,923$1,628$862$440$219$7
50 years$2,831$1,555$810$406$199$6

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 $3,090 every year, while hoping to spend $34,738 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: 38/38/24 Blend
59$2,900,000$2,900,000$2,900,000$2,900,000
60$3,198,987$3,045,287$3,000,337$3,297,516
61$3,488,323$3,157,545$3,063,888$3,481,816
62$3,806,007$3,274,140$3,128,403$3,677,404
63$4,154,893$3,395,247$3,193,878$3,888,099
64$4,538,127$3,521,049$3,260,308$4,115,287
65$4,959,174$3,651,737$3,327,686$4,360,496
66$5,421,849$3,787,512$3,396,002$4,625,399
67$5,930,357$3,928,579$3,465,248$4,911,839
68$6,489,331$4,075,157$3,535,411$5,221,839
69$7,103,873$4,227,470$3,606,478$5,557,622
70$7,779,606$4,385,755$3,678,433$5,921,633
71$8,522,726$4,550,256$3,751,260$6,316,560
72$9,340,056$4,721,231$3,824,939$6,745,358
73$10,239,115$4,898,945$3,899,449$7,211,277
74$11,228,190$5,083,679$3,974,766$7,717,892
75$12,316,408$5,275,721$4,050,863$8,269,136
76$13,513,827$5,475,377$4,127,712$8,869,333
77$14,831,529$5,682,962$4,205,281$9,523,243
78$16,281,723$5,898,806$4,283,537$10,236,102
79$17,877,866$6,123,254$4,362,442$11,013,672
80$19,634,780$6,356,665$4,441,956$11,862,296
81$21,568,800$6,599,414$4,522,034$12,788,951
82$23,697,926$6,851,894$4,602,630$13,801,319
83$26,041,989$7,114,511$4,683,693$14,907,857
84$28,622,843$7,387,694$4,765,169$16,117,871
85$31,464,569$7,671,886$4,846,997$17,441,609
86$34,593,700$7,967,553$4,929,116$18,890,352
87$38,039,473$8,275,180$5,011,458$20,476,520
88$41,834,109$8,595,273$5,093,951$22,213,789
89$46,013,107$8,928,360$5,176,517$24,117,217
90$50,615,588$9,274,994$5,259,075$26,203,387
91$55,684,661$9,635,752$5,341,537$28,490,558
92$61,267,827$10,011,234$5,423,809$30,998,839
93$67,417,431$10,402,070$5,505,792$33,750,376
94$74,191,153$10,808,916$5,587,380$36,769,560
95$81,652,555$11,232,457$5,668,462$40,083,252
96$89,871,678$11,673,410$5,748,918$43,721,040
97$98,925,704$12,132,522$5,828,622$47,715,510
98$108,899,685$12,610,575$5,907,440$52,102,559
99$119,887,345$13,108,385$5,985,231$56,921,723
100$131,991,962$13,626,804$6,061,844$62,216,555