Can I retire at age 60 with 2,910,000?

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 $2,910,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$240,305$238,165$236,076$234,038$232,047$224,350
2 years$118,963$116,747$114,600$112,518$110,499$102,819
3 years$78,521$76,296$74,154$72,091$70,105$62,683
4 years$58,304$56,085$53,965$51,938$49,999$42,892
5 years$46,177$43,972$41,879$39,893$38,009$31,236
6 years$38,095$35,906$33,845$31,903$30,075$23,641
7 years$32,324$30,154$28,125$26,229$24,459$18,364
8 years$27,998$25,847$23,852$22,003$20,291$14,530
9 years$24,635$22,505$20,544$18,742$17,088$11,654
10 years$21,946$19,837$17,911$16,156$14,560$9,445
11 years$19,748$17,660$15,768$14,060$12,522$7,716
12 years$17,917$15,850$13,994$12,333$10,851$6,343
13 years$16,369$14,324$12,503$10,888$9,463$5,241
14 years$15,044$13,020$11,234$9,665$8,295$4,348
15 years$13,896$11,894$10,142$8,620$7,303$3,619
16 years$12,892$10,913$9,196$7,718$6,455$3,021
17 years$12,008$10,050$8,368$6,934$5,723$2,527
18 years$11,223$9,287$7,639$6,249$5,089$2,118
19 years$10,521$8,607$6,993$5,647$4,536$1,777
20 years$9,890$7,998$6,418$5,114$4,051$1,494
21 years$9,320$7,450$5,903$4,641$3,626$1,257
22 years$8,803$6,954$5,441$4,220$3,250$1,058
23 years$8,331$6,504$5,023$3,843$2,917$892
24 years$7,899$6,094$4,646$3,505$2,622$752
25 years$7,502$5,719$4,303$3,201$2,359$634
26 years$7,137$5,375$3,991$2,927$2,125$535
27 years$6,799$5,058$3,706$2,679$1,916$452
28 years$6,486$4,766$3,445$2,455$1,729$382
29 years$6,195$4,497$3,206$2,251$1,561$322
30 years$5,924$4,246$2,986$2,066$1,411$272
31 years$5,670$4,014$2,784$1,897$1,275$230
32 years$5,433$3,798$2,597$1,744$1,154$195
33 years$5,211$3,597$2,425$1,604$1,044$165
34 years$5,003$3,409$2,266$1,475$945$139
35 years$4,807$3,234$2,119$1,358$856$118
36 years$4,622$3,069$1,982$1,251$776$100
37 years$4,447$2,915$1,855$1,152$703$84
38 years$4,282$2,770$1,737$1,062$637$71
39 years$4,126$2,634$1,627$979$578$60
40 years$3,978$2,506$1,525$903$524$51
41 years$3,838$2,386$1,430$834$476$43
42 years$3,705$2,272$1,342$769$432$36
43 years$3,578$2,165$1,259$710$392$31
44 years$3,457$2,064$1,182$656$356$26
45 years$3,343$1,968$1,110$606$323$22
46 years$3,233$1,877$1,042$559$293$19
47 years$3,128$1,791$979$517$266$16
48 years$3,028$1,710$920$477$242$13
49 years$2,933$1,633$865$441$219$11
50 years$2,841$1,560$813$408$199$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,910,000, adding $4,651 every year, while hoping to spend $48,963 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: 43/47/10 Blend
59$2,910,000$2,910,000$2,910,000$2,910,000
60$3,211,618$3,057,388$3,012,283$3,340,223
61$3,487,106$3,155,103$3,061,098$3,527,984
62$3,789,054$3,255,966$3,109,907$3,725,953
63$4,120,107$3,360,078$3,158,659$3,939,314
64$4,483,182$3,467,546$3,207,298$4,169,495
65$4,881,490$3,578,479$3,255,766$4,418,066
66$5,318,567$3,692,989$3,303,999$4,686,752
67$5,798,309$3,811,195$3,351,932$4,977,450
68$6,325,009$3,933,215$3,399,493$5,292,246
69$6,903,393$4,059,176$3,446,610$5,633,434
70$7,538,669$4,189,206$3,493,201$6,003,538
71$8,236,574$4,323,438$3,539,184$6,405,332
72$9,003,428$4,462,009$3,584,470$6,841,871
73$9,846,192$4,605,062$3,628,964$7,316,513
74$10,772,538$4,752,744$3,672,568$7,832,956
75$11,790,914$4,905,206$3,715,177$8,395,269
76$12,910,632$5,062,606$3,756,680$9,007,928
77$14,141,948$5,225,105$3,796,960$9,675,863
78$15,496,163$5,392,871$3,835,895$10,404,498
79$16,985,727$5,566,078$3,873,353$11,199,806
80$18,624,359$5,744,903$3,909,198$12,068,360
81$20,427,173$5,929,533$3,943,286$13,017,401
82$22,410,823$6,120,158$3,975,464$14,054,897
83$24,593,658$6,316,977$4,005,572$15,189,625
84$26,995,895$6,520,193$4,033,443$16,431,249
85$29,639,811$6,730,017$4,058,898$17,790,411
86$32,549,952$6,946,668$4,081,752$19,278,831
87$35,753,365$7,170,373$4,101,808$20,909,416
88$39,279,850$7,401,363$4,118,860$22,696,381
89$43,162,245$7,639,880$4,132,693$24,655,385
90$47,436,733$7,886,174$4,143,078$26,803,673
91$52,143,186$8,140,502$4,149,777$29,160,240
92$57,325,536$8,403,132$4,152,539$31,746,010
93$63,032,194$8,674,338$4,151,102$34,584,033
94$69,316,503$8,954,406$4,145,190$37,699,697
95$76,237,245$9,243,631$4,134,513$41,120,974
96$83,859,193$9,542,317$4,118,767$44,878,675
97$92,253,720$9,850,780$4,097,635$49,006,745
98$101,499,477$10,169,346$4,070,784$53,542,578
99$111,683,131$10,498,352$4,037,863$58,527,375
100$122,900,186$10,838,146$3,998,506$64,006,524