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%15.9%
1 years$240,305$238,165$236,076$234,038$232,047$226,438
2 years$118,963$116,747$114,600$112,518$110,499$104,881
3 years$78,521$76,296$74,154$72,091$70,105$64,654
4 years$58,304$56,085$53,965$51,938$49,999$44,758
5 years$46,177$43,972$41,879$39,893$38,009$32,991
6 years$38,095$35,906$33,845$31,903$30,075$25,287
7 years$32,324$30,154$28,125$26,229$24,459$19,900
8 years$27,998$25,847$23,852$22,003$20,291$15,960
9 years$24,635$22,505$20,544$18,742$17,088$12,981
10 years$21,946$19,837$17,911$16,156$14,560$10,672
11 years$19,748$17,660$15,768$14,060$12,522$8,848
12 years$17,917$15,850$13,994$12,333$10,851$7,385
13 years$16,369$14,324$12,503$10,888$9,463$6,198
14 years$15,044$13,020$11,234$9,665$8,295$5,224
15 years$13,896$11,894$10,142$8,620$7,303$4,420
16 years$12,892$10,913$9,196$7,718$6,455$3,750
17 years$12,008$10,050$8,368$6,934$5,723$3,190
18 years$11,223$9,287$7,639$6,249$5,089$2,719
19 years$10,521$8,607$6,993$5,647$4,536$2,322
20 years$9,890$7,998$6,418$5,114$4,051$1,986
21 years$9,320$7,450$5,903$4,641$3,626$1,701
22 years$8,803$6,954$5,441$4,220$3,250$1,458
23 years$8,331$6,504$5,023$3,843$2,917$1,251
24 years$7,899$6,094$4,646$3,505$2,622$1,074
25 years$7,502$5,719$4,303$3,201$2,359$923
26 years$7,137$5,375$3,991$2,927$2,125$794
27 years$6,799$5,058$3,706$2,679$1,916$683
28 years$6,486$4,766$3,445$2,455$1,729$588
29 years$6,195$4,497$3,206$2,251$1,561$506
30 years$5,924$4,246$2,986$2,066$1,411$436
31 years$5,670$4,014$2,784$1,897$1,275$375
32 years$5,433$3,798$2,597$1,744$1,154$323
33 years$5,211$3,597$2,425$1,604$1,044$279
34 years$5,003$3,409$2,266$1,475$945$240
35 years$4,807$3,234$2,119$1,358$856$207
36 years$4,622$3,069$1,982$1,251$776$178
37 years$4,447$2,915$1,855$1,152$703$154
38 years$4,282$2,770$1,737$1,062$637$133
39 years$4,126$2,634$1,627$979$578$114
40 years$3,978$2,506$1,525$903$524$99
41 years$3,838$2,386$1,430$834$476$85
42 years$3,705$2,272$1,342$769$432$73
43 years$3,578$2,165$1,259$710$392$63
44 years$3,457$2,064$1,182$656$356$55
45 years$3,343$1,968$1,110$606$323$47
46 years$3,233$1,877$1,042$559$293$41
47 years$3,128$1,791$979$517$266$35
48 years$3,028$1,710$920$477$242$30
49 years$2,933$1,633$865$441$219$26
50 years$2,841$1,560$813$408$199$23

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 $5,053 every year, while hoping to spend $33,747 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: 81/12/7 Blend
59$2,910,000$2,910,000$2,910,000$2,910,000
60$3,212,032$3,057,802$3,012,697$3,469,520
61$3,503,753$3,171,728$3,077,716$3,752,696
62$3,824,098$3,290,105$3,143,782$4,058,426
63$4,175,952$3,413,116$3,210,894$4,392,944
64$4,562,491$3,540,951$3,279,052$4,759,109
65$4,987,216$3,673,808$3,348,251$5,160,070
66$5,453,983$3,811,895$3,418,488$5,599,295
67$5,967,039$3,955,428$3,489,757$6,080,603
68$6,531,064$4,104,631$3,562,051$6,608,199
69$7,151,215$4,259,740$3,635,361$7,186,714
70$7,833,171$4,421,000$3,709,679$7,821,249
71$8,583,192$4,588,666$3,784,990$8,517,423
72$9,408,172$4,763,006$3,861,282$9,281,422
73$10,315,710$4,944,297$3,938,539$10,120,063
74$11,314,175$5,132,831$4,016,743$11,040,852
75$12,412,791$5,328,910$4,095,874$12,052,060
76$13,621,720$5,532,850$4,175,910$13,162,795
77$14,952,158$5,744,983$4,256,826$14,383,092
78$16,416,444$5,965,653$4,338,595$15,724,005
79$18,028,170$6,195,219$4,421,188$17,197,711
80$19,802,316$6,434,057$4,504,570$18,817,626
81$21,755,386$6,682,559$4,588,706$20,598,529
82$23,905,566$6,941,135$4,673,559$22,556,701
83$26,272,895$7,210,212$4,759,084$24,710,082
84$28,879,453$7,490,236$4,845,236$27,078,434
85$31,749,572$7,781,672$4,931,967$29,683,530
86$34,910,063$8,085,008$5,019,222$32,549,360
87$38,390,468$8,400,752$5,106,944$35,702,354
88$42,223,340$8,729,434$5,195,072$39,171,633
89$46,444,553$9,071,608$5,283,538$42,989,282
90$51,093,634$9,427,853$5,372,273$47,190,653
91$56,214,140$9,798,774$5,461,201$51,814,697
92$61,854,071$10,185,002$5,550,239$56,904,332
93$68,066,316$10,587,197$5,639,302$62,506,847
94$74,909,159$11,006,049$5,728,297$68,674,346
95$82,446,825$11,442,276$5,817,127$75,464,242
96$90,750,085$11,896,632$5,905,685$82,939,794
97$99,896,929$12,369,903$5,993,861$91,170,709
98$109,973,297$12,862,909$6,081,536$100,233,793
99$121,073,891$13,376,509$6,168,585$110,213,678
100$133,303,071$13,911,601$6,254,875$121,203,622