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%17.9%
1 years$241,957$239,801$237,699$235,646$233,642$226,163
2 years$119,781$117,550$115,388$113,292$111,258$103,792
3 years$79,060$76,820$74,664$72,587$70,587$63,368
4 years$58,704$56,471$54,336$52,295$50,343$43,427
5 years$46,494$44,274$42,167$40,167$38,270$31,675
6 years$38,356$36,153$34,077$32,122$30,282$24,013
7 years$32,546$30,361$28,318$26,409$24,627$18,685
8 years$28,190$26,025$24,016$22,154$20,431$14,810
9 years$24,804$22,660$20,685$18,870$17,206$11,901
10 years$22,097$19,973$18,034$16,267$14,660$9,663
11 years$19,884$17,781$15,877$14,157$12,608$7,909
12 years$18,040$15,959$14,090$12,417$10,926$6,515
13 years$16,482$14,423$12,589$10,963$9,528$5,394
14 years$15,147$13,110$11,311$9,731$8,352$4,484
15 years$13,991$11,976$10,212$8,679$7,354$3,741
16 years$12,981$10,988$9,259$7,771$6,499$3,129
17 years$12,091$10,119$8,425$6,982$5,763$2,623
18 years$11,300$9,351$7,691$6,292$5,124$2,203
19 years$10,593$8,666$7,041$5,686$4,567$1,853
20 years$9,958$8,053$6,462$5,149$4,079$1,561
21 years$9,384$7,501$5,944$4,673$3,651$1,316
22 years$8,863$7,002$5,478$4,249$3,272$1,111
23 years$8,388$6,549$5,058$3,870$2,937$938
24 years$7,953$6,136$4,678$3,530$2,640$793
25 years$7,554$5,758$4,332$3,223$2,376$671
26 years$7,186$5,412$4,018$2,947$2,140$567
27 years$6,846$5,093$3,731$2,698$1,929$480
28 years$6,530$4,799$3,469$2,472$1,741$407
29 years$6,237$4,527$3,228$2,267$1,572$344
30 years$5,964$4,276$3,007$2,080$1,420$292
31 years$5,709$4,042$2,803$1,910$1,284$247
32 years$5,471$3,824$2,615$1,756$1,162$209
33 years$5,247$3,622$2,442$1,615$1,051$178
34 years$5,037$3,433$2,282$1,486$952$150
35 years$4,840$3,256$2,133$1,368$862$128
36 years$4,654$3,090$1,995$1,259$781$108
37 years$4,478$2,935$1,868$1,160$708$92
38 years$4,312$2,789$1,749$1,070$642$78
39 years$4,155$2,652$1,639$986$582$66
40 years$4,006$2,524$1,536$910$528$56
41 years$3,865$2,402$1,440$839$479$47
42 years$3,730$2,288$1,351$775$435$40
43 years$3,603$2,180$1,268$715$394$34
44 years$3,481$2,078$1,190$660$358$29
45 years$3,366$1,981$1,117$610$325$25
46 years$3,255$1,890$1,049$563$295$21
47 years$3,150$1,804$986$520$268$18
48 years$3,049$1,722$926$481$243$15
49 years$2,953$1,644$871$444$221$13
50 years$2,861$1,571$819$411$201$11

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 $3,695 every year, while hoping to spend $50,425 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: 55/21/24 Blend
59$2,930,000$2,930,000$2,930,000$2,930,000
60$3,232,671$3,077,381$3,031,966$3,389,004
61$3,508,752$3,174,521$3,079,885$3,593,898
62$3,811,303$3,274,731$3,127,720$3,811,340
63$4,142,971$3,378,108$3,175,413$4,047,096
64$4,506,670$3,484,752$3,222,906$4,302,941
65$4,905,613$3,594,766$3,270,136$4,580,828
66$5,343,334$3,708,259$3,317,034$4,882,907
67$5,823,729$3,825,338$3,363,530$5,211,546
68$6,351,089$3,946,119$3,409,547$5,569,351
69$6,930,140$4,070,719$3,455,007$5,959,194
70$7,566,087$4,199,258$3,499,823$6,384,235
71$8,264,668$4,331,861$3,543,907$6,847,957
72$9,032,199$4,468,657$3,587,162$7,354,193
73$9,875,641$4,609,779$3,629,490$7,907,167
74$10,802,662$4,755,364$3,670,784$8,511,530
75$11,821,710$4,905,553$3,710,932$9,172,407
76$12,942,092$5,060,493$3,749,815$9,895,441
77$14,174,062$5,220,333$3,787,311$10,686,850
78$15,528,917$5,385,230$3,823,286$11,553,482
79$17,019,103$5,555,344$3,857,603$12,502,884
80$18,658,336$5,730,839$3,890,117$13,543,367
81$20,461,723$5,911,888$3,920,673$14,684,089
82$22,445,913$6,098,665$3,949,110$15,935,139
83$24,629,250$6,291,352$3,975,258$17,307,634
84$27,031,943$6,490,138$3,998,939$18,813,819
85$29,676,261$6,695,215$4,019,964$20,467,189
86$32,586,743$6,906,784$4,038,135$22,282,610
87$35,790,424$7,125,049$4,053,246$24,276,464
88$39,317,095$7,350,225$4,065,078$26,466,800
89$43,199,582$7,582,529$4,073,401$28,873,505
90$47,474,055$7,822,189$4,077,976$31,518,492
91$52,180,371$8,069,438$4,078,550$34,425,908
92$57,362,445$8,324,517$4,074,858$37,622,358
93$63,068,670$8,587,675$4,066,622$41,137,158
94$69,352,372$8,859,167$4,053,551$45,002,614
95$76,272,307$9,139,260$4,035,338$49,254,321
96$83,893,225$9,428,227$4,011,665$53,931,505
97$92,286,473$9,726,348$3,982,194$59,077,388
98$101,530,670$10,033,916$3,946,575$64,739,599
99$111,712,451$10,351,231$3,904,437$70,970,623
100$122,927,282$10,678,602$3,855,397$77,828,293