Can I retire at age 60 with 2,930,000?

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 $2,930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$241,957$239,801$237,699$235,646$233,642$226,526
2 years$119,781$117,550$115,388$113,292$111,258$104,150
3 years$79,060$76,820$74,664$72,587$70,587$63,709
4 years$58,704$56,471$54,336$52,295$50,343$43,749
5 years$46,494$44,274$42,167$40,167$38,270$31,977
6 years$38,356$36,153$34,077$32,122$30,282$24,296
7 years$32,546$30,361$28,318$26,409$24,627$18,948
8 years$28,190$26,025$24,016$22,154$20,431$15,054
9 years$24,804$22,660$20,685$18,870$17,206$12,126
10 years$22,097$19,973$18,034$16,267$14,660$9,870
11 years$19,884$17,781$15,877$14,157$12,608$8,100
12 years$18,040$15,959$14,090$12,417$10,926$6,690
13 years$16,482$14,423$12,589$10,963$9,528$5,554
14 years$15,147$13,110$11,311$9,731$8,352$4,630
15 years$13,991$11,976$10,212$8,679$7,354$3,873
16 years$12,981$10,988$9,259$7,771$6,499$3,249
17 years$12,091$10,119$8,425$6,982$5,763$2,732
18 years$11,300$9,351$7,691$6,292$5,124$2,301
19 years$10,593$8,666$7,041$5,686$4,567$1,942
20 years$9,958$8,053$6,462$5,149$4,079$1,641
21 years$9,384$7,501$5,944$4,673$3,651$1,388
22 years$8,863$7,002$5,478$4,249$3,272$1,175
23 years$8,388$6,549$5,058$3,870$2,937$996
24 years$7,953$6,136$4,678$3,530$2,640$844
25 years$7,554$5,758$4,332$3,223$2,376$716
26 years$7,186$5,412$4,018$2,947$2,140$608
27 years$6,846$5,093$3,731$2,698$1,929$516
28 years$6,530$4,799$3,469$2,472$1,741$438
29 years$6,237$4,527$3,228$2,267$1,572$372
30 years$5,964$4,276$3,007$2,080$1,420$317
31 years$5,709$4,042$2,803$1,910$1,284$269
32 years$5,471$3,824$2,615$1,756$1,162$229
33 years$5,247$3,622$2,442$1,615$1,051$195
34 years$5,037$3,433$2,282$1,486$952$165
35 years$4,840$3,256$2,133$1,368$862$141
36 years$4,654$3,090$1,995$1,259$781$120
37 years$4,478$2,935$1,868$1,160$708$102
38 years$4,312$2,789$1,749$1,070$642$87
39 years$4,155$2,652$1,639$986$582$74
40 years$4,006$2,524$1,536$910$528$63
41 years$3,865$2,402$1,440$839$479$53
42 years$3,730$2,288$1,351$775$435$45
43 years$3,603$2,180$1,268$715$394$39
44 years$3,481$2,078$1,190$660$358$33
45 years$3,366$1,981$1,117$610$325$28
46 years$3,255$1,890$1,049$563$295$24
47 years$3,150$1,804$986$520$268$20
48 years$3,049$1,722$926$481$243$17
49 years$2,953$1,644$871$444$221$15
50 years$2,861$1,571$819$411$201$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,930,000, adding $4,447 every year, while hoping to spend $34,482 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: 30/48/22 Blend
59$2,930,000$2,930,000$2,930,000$2,930,000
60$3,233,447$3,078,157$3,032,742$3,308,164
61$3,526,570$3,192,298$3,097,650$3,479,839
62$3,848,436$3,310,877$3,163,577$3,661,015
63$4,201,940$3,434,073$3,230,521$3,855,210
64$4,590,272$3,562,077$3,298,477$4,063,572
65$5,016,945$3,695,084$3,367,442$4,287,360
66$5,485,831$3,833,300$3,437,408$4,527,957
67$6,001,194$3,976,940$3,508,369$4,786,879
68$6,567,731$4,126,226$3,580,315$5,065,788
69$7,190,619$4,281,390$3,653,236$5,366,512
70$7,875,561$4,442,677$3,727,118$5,691,054
71$8,628,839$4,610,339$3,801,947$6,041,617
72$9,457,376$4,784,641$3,877,707$6,420,618
73$10,368,797$4,965,858$3,954,380$6,830,713
74$11,371,507$5,154,277$4,031,944$7,274,821
75$12,474,764$5,350,200$4,110,377$7,756,149
76$13,688,769$5,553,938$4,189,654$8,278,220
77$15,024,762$5,765,820$4,269,746$8,844,910
78$16,495,128$5,986,186$4,350,623$9,460,477
79$18,113,514$6,215,391$4,432,251$10,129,605
80$19,894,955$6,453,808$4,514,594$10,857,444
81$21,856,019$6,701,824$4,597,613$11,649,657
82$24,014,964$6,959,844$4,681,263$12,512,474
83$26,391,904$7,228,290$4,765,499$13,452,747
84$29,009,005$7,507,604$4,850,271$14,478,016
85$31,890,693$7,798,245$4,935,524$15,596,574
86$35,063,880$8,100,695$5,021,200$16,817,549
87$38,558,222$8,415,456$5,107,237$18,150,984
88$42,406,399$8,743,052$5,193,567$19,607,930
89$46,644,420$9,084,029$5,280,120$21,200,553
90$51,311,965$9,438,961$5,366,818$22,942,240
91$56,452,758$9,808,443$5,453,580$24,847,730
92$62,114,983$10,193,100$5,540,317$26,933,245
93$68,351,731$10,593,582$5,626,938$29,216,646
94$75,221,510$11,010,570$5,713,343$31,717,594
95$82,788,790$11,444,774$5,799,427$34,457,738
96$91,124,616$11,896,937$5,885,076$37,460,913
97$100,307,274$12,367,834$5,970,173$40,753,365
98$110,423,033$12,858,275$6,054,592$44,363,993
99$121,566,959$13,369,107$6,138,197$48,324,622
100$133,843,810$13,901,214$6,220,847$52,670,299