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

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 $2,910,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$240,305$238,165$236,076$234,038$232,047$228,863
2 years$118,963$116,747$114,600$112,518$110,499$107,296
3 years$78,521$76,296$74,154$72,091$70,105$66,984
4 years$58,304$56,085$53,965$51,938$49,999$46,984
5 years$46,177$43,972$41,879$39,893$38,009$35,107
6 years$38,095$35,906$33,845$31,903$30,075$27,291
7 years$32,324$30,154$28,125$26,229$24,459$21,794
8 years$27,998$25,847$23,852$22,003$20,291$17,744
9 years$24,635$22,505$20,544$18,742$17,088$14,658
10 years$21,946$19,837$17,911$16,156$14,560$12,245
11 years$19,748$17,660$15,768$14,060$12,522$10,320
12 years$17,917$15,850$13,994$12,333$10,851$8,760
13 years$16,369$14,324$12,503$10,888$9,463$7,479
14 years$15,044$13,020$11,234$9,665$8,295$6,416
15 years$13,896$11,894$10,142$8,620$7,303$5,526
16 years$12,892$10,913$9,196$7,718$6,455$4,776
17 years$12,008$10,050$8,368$6,934$5,723$4,139
18 years$11,223$9,287$7,639$6,249$5,089$3,596
19 years$10,521$8,607$6,993$5,647$4,536$3,130
20 years$9,890$7,998$6,418$5,114$4,051$2,730
21 years$9,320$7,450$5,903$4,641$3,626$2,384
22 years$8,803$6,954$5,441$4,220$3,250$2,085
23 years$8,331$6,504$5,023$3,843$2,917$1,826
24 years$7,899$6,094$4,646$3,505$2,622$1,600
25 years$7,502$5,719$4,303$3,201$2,359$1,404
26 years$7,137$5,375$3,991$2,927$2,125$1,232
27 years$6,799$5,058$3,706$2,679$1,916$1,082
28 years$6,486$4,766$3,445$2,455$1,729$951
29 years$6,195$4,497$3,206$2,251$1,561$837
30 years$5,924$4,246$2,986$2,066$1,411$736
31 years$5,670$4,014$2,784$1,897$1,275$648
32 years$5,433$3,798$2,597$1,744$1,154$570
33 years$5,211$3,597$2,425$1,604$1,044$502
34 years$5,003$3,409$2,266$1,475$945$442
35 years$4,807$3,234$2,119$1,358$856$390
36 years$4,622$3,069$1,982$1,251$776$344
37 years$4,447$2,915$1,855$1,152$703$303
38 years$4,282$2,770$1,737$1,062$637$267
39 years$4,126$2,634$1,627$979$578$235
40 years$3,978$2,506$1,525$903$524$208
41 years$3,838$2,386$1,430$834$476$183
42 years$3,705$2,272$1,342$769$432$161
43 years$3,578$2,165$1,259$710$392$142
44 years$3,457$2,064$1,182$656$356$126
45 years$3,343$1,968$1,110$606$323$111
46 years$3,233$1,877$1,042$559$293$98
47 years$3,128$1,791$979$517$266$86
48 years$3,028$1,710$920$477$242$76
49 years$2,933$1,633$865$441$219$67
50 years$2,841$1,560$813$408$199$59

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 $4,644 every year, while hoping to spend $32,004 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: 37/33/30 Blend
59$2,910,000$2,910,000$2,910,000$2,910,000
60$3,211,610$3,057,380$3,012,275$3,301,525
61$3,505,143$3,173,140$3,079,135$3,484,496
62$3,827,542$3,293,499$3,147,161$3,678,777
63$4,181,721$3,418,650$3,216,360$3,888,038
64$4,570,884$3,548,791$3,286,735$4,113,660
65$4,998,564$3,684,132$3,358,291$4,357,155
66$5,468,654$3,824,891$3,431,030$4,620,186
67$5,985,440$3,971,294$3,504,953$4,904,580
68$6,553,647$4,123,579$3,580,061$5,212,347
69$7,178,478$4,281,993$3,656,352$5,545,693
70$7,865,666$4,446,795$3,733,824$5,907,045
71$8,621,530$4,618,254$3,812,473$6,299,071
72$9,453,030$4,796,652$3,892,294$6,724,705
73$10,367,834$4,982,282$3,973,281$7,187,173
74$11,374,391$5,175,453$4,055,424$7,690,024
75$12,482,012$5,376,483$4,138,714$8,237,163
76$13,700,955$5,585,708$4,223,138$8,832,884
77$15,042,522$5,803,477$4,308,682$9,481,912
78$16,519,166$6,030,155$4,395,331$10,189,446
79$18,144,611$6,266,122$4,483,064$10,961,208
80$19,933,977$6,511,778$4,571,863$11,803,494
81$21,903,925$6,767,537$4,661,702$12,723,235
82$24,072,813$7,033,834$4,752,557$13,728,058
83$26,460,870$7,311,122$4,844,397$14,826,360
84$29,090,386$7,599,875$4,937,193$16,027,384
85$31,985,925$7,900,588$5,030,907$17,341,305
86$35,174,550$8,213,777$5,125,504$18,779,326
87$38,686,086$8,539,984$5,220,940$20,353,782
88$42,553,396$8,879,773$5,317,171$22,078,254
89$46,812,694$9,233,733$5,414,148$23,967,696
90$51,503,884$9,602,482$5,511,817$26,038,577
91$56,670,939$9,986,662$5,610,121$28,309,032
92$62,362,313$10,386,947$5,708,999$30,799,030
93$68,631,402$10,804,040$5,808,384$33,530,568
94$75,537,045$11,238,678$5,908,204$36,527,867
95$83,144,078$11,691,628$6,008,383$39,817,608
96$91,523,950$12,163,693$6,108,840$43,429,175
97$100,755,392$12,655,714$6,209,486$47,394,935
98$110,925,166$13,168,567$6,310,227$51,750,537
99$122,128,877$13,703,171$6,410,964$56,535,252
100$134,471,881$14,260,485$6,511,590$61,792,336