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%15.2%
1 years$239,479$237,346$235,265$233,234$231,250$226,304
2 years$118,554$116,346$114,206$112,132$110,119$105,160
3 years$78,251$76,033$73,899$71,844$69,864$65,046
4 years$58,103$55,893$53,780$51,759$49,828$45,189
5 years$46,018$43,821$41,735$39,756$37,878$33,432
6 years$37,964$35,783$33,728$31,793$29,972$25,722
7 years$32,213$30,050$28,028$26,139$24,375$20,323
8 years$27,902$25,759$23,770$21,927$20,221$16,366
9 years$24,550$22,428$20,473$18,677$17,029$13,367
10 years$21,871$19,769$17,849$16,100$14,510$11,038
11 years$19,680$17,599$15,714$14,012$12,479$9,192
12 years$17,855$15,796$13,946$12,290$10,814$7,707
13 years$16,313$14,275$12,460$10,850$9,430$6,498
14 years$14,992$12,975$11,195$9,632$8,266$5,504
15 years$13,848$11,853$10,108$8,590$7,278$4,679
16 years$12,848$10,875$9,164$7,691$6,433$3,990
17 years$11,967$10,016$8,339$6,911$5,704$3,411
18 years$11,184$9,255$7,612$6,228$5,071$2,923
19 years$10,485$8,577$6,969$5,627$4,520$2,509
20 years$9,856$7,970$6,396$5,097$4,038$2,157
21 years$9,288$7,424$5,883$4,626$3,613$1,857
22 years$8,772$6,930$5,422$4,206$3,239$1,601
23 years$8,302$6,482$5,006$3,830$2,907$1,381
24 years$7,872$6,073$4,630$3,493$2,613$1,193
25 years$7,477$5,699$4,288$3,190$2,351$1,030
26 years$7,112$5,356$3,977$2,917$2,118$891
27 years$6,776$5,041$3,693$2,670$1,910$771
28 years$6,463$4,750$3,433$2,446$1,723$667
29 years$6,173$4,481$3,195$2,243$1,556$578
30 years$5,903$4,232$2,976$2,059$1,406$500
31 years$5,651$4,001$2,774$1,891$1,271$433
32 years$5,415$3,785$2,588$1,738$1,150$376
33 years$5,193$3,585$2,417$1,598$1,040$326
34 years$4,986$3,398$2,258$1,470$942$282
35 years$4,790$3,223$2,111$1,354$853$245
36 years$4,606$3,059$1,975$1,247$773$212
37 years$4,432$2,905$1,849$1,149$701$184
38 years$4,268$2,761$1,731$1,059$635$160
39 years$4,112$2,625$1,622$976$576$139
40 years$3,965$2,498$1,520$900$522$120
41 years$3,825$2,378$1,425$831$474$104
42 years$3,692$2,264$1,337$767$430$91
43 years$3,566$2,157$1,255$708$390$79
44 years$3,446$2,056$1,178$653$354$68
45 years$3,331$1,961$1,106$603$322$59
46 years$3,222$1,871$1,039$557$292$51
47 years$3,118$1,785$976$515$265$45
48 years$3,018$1,704$917$476$241$39
49 years$2,923$1,628$862$440$219$34
50 years$2,831$1,555$810$406$199$29

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 $3,437 every year, while hoping to spend $52,364 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: 59/30/11 Blend
59$2,900,000$2,900,000$2,900,000$2,900,000
60$3,199,345$3,045,645$3,000,695$3,379,470
61$3,469,964$3,139,167$3,045,504$3,594,602
62$3,766,430$3,235,516$3,090,058$3,822,883
63$4,091,326$3,334,776$3,134,295$4,070,532
64$4,447,493$3,437,033$3,178,146$4,339,417
65$4,838,064$3,542,374$3,221,540$4,631,594
66$5,266,486$3,650,890$3,264,402$4,949,324
67$5,736,558$3,762,673$3,306,649$5,295,097
68$6,252,463$3,877,820$3,348,198$5,671,655
69$6,818,809$3,996,429$3,388,958$6,082,013
70$7,440,674$4,118,601$3,428,835$6,529,495
71$8,123,649$4,244,438$3,467,727$7,017,756
72$8,873,895$4,374,049$3,505,529$7,550,825
73$9,698,196$4,507,542$3,542,128$8,133,134
74$10,604,031$4,645,029$3,577,408$8,769,568
75$11,599,633$4,786,627$3,611,243$9,465,503
76$12,694,078$4,932,455$3,643,502$10,226,861
77$13,897,362$5,082,633$3,674,047$11,060,165
78$15,220,498$5,237,287$3,702,733$11,972,599
79$16,675,621$5,396,546$3,729,406$12,972,075
80$18,276,099$5,560,541$3,753,906$14,067,310
81$20,036,662$5,729,408$3,776,062$15,267,902
82$21,973,539$5,903,287$3,795,698$16,584,429
83$24,104,611$6,082,319$3,812,625$18,028,540
84$26,449,580$6,266,652$3,826,647$19,613,069
85$29,030,155$6,456,436$3,837,558$21,352,154
86$31,870,254$6,651,824$3,845,139$23,261,370
87$34,996,233$6,852,976$3,849,164$25,357,878
88$38,437,130$7,060,054$3,849,392$27,660,583
89$42,224,944$7,273,223$3,845,574$30,190,313
90$46,394,933$7,492,656$3,837,445$32,970,016
91$50,985,947$7,718,527$3,824,730$36,024,977
92$56,040,794$7,951,015$3,807,139$39,383,051
93$61,606,646$8,190,305$3,784,369$43,074,933
94$67,735,479$8,436,586$3,756,101$47,134,441
95$74,484,570$8,690,050$3,722,002$51,598,837
96$81,917,030$8,950,897$3,681,723$56,509,179
97$90,102,404$9,219,328$3,634,898$61,910,706
98$99,117,327$9,495,553$3,581,145$67,853,267
99$109,046,243$9,779,783$3,520,062$74,391,787
100$119,982,205$10,072,238$3,451,229$81,586,789