Can I retire at age 60 with 2,990,000?

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 $2,990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$246,911$244,712$242,566$240,472$238,427$233,327
2 years$122,233$119,957$117,751$115,611$113,537$108,423
3 years$80,679$78,393$76,192$74,073$72,032$67,065
4 years$59,907$57,627$55,449$53,366$51,374$46,591
5 years$47,446$45,180$43,030$40,990$39,054$34,469
6 years$39,142$36,893$34,775$32,780$30,902$26,520
7 years$33,213$30,983$28,898$26,950$25,131$20,954
8 years$28,768$26,558$24,508$22,608$20,849$16,874
9 years$25,312$23,124$21,109$19,257$17,558$13,782
10 years$22,550$20,382$18,403$16,600$14,960$11,380
11 years$20,291$18,145$16,202$14,447$12,866$9,477
12 years$18,410$16,286$14,379$12,672$11,150$7,947
13 years$16,819$14,718$12,846$11,187$9,723$6,700
14 years$15,457$13,378$11,542$9,931$8,523$5,675
15 years$14,278$12,221$10,421$8,856$7,504$4,824
16 years$13,247$11,213$9,448$7,930$6,632$4,114
17 years$12,338$10,326$8,598$7,125$5,881$3,517
18 years$11,531$9,542$7,849$6,421$5,229$3,014
19 years$10,810$8,844$7,185$5,802$4,660$2,587
20 years$10,162$8,218$6,594$5,255$4,163$2,224
21 years$9,576$7,655$6,065$4,769$3,725$1,915
22 years$9,045$7,145$5,590$4,336$3,339$1,650
23 years$8,560$6,683$5,161$3,949$2,997$1,424
24 years$8,116$6,261$4,773$3,602$2,694$1,230
25 years$7,709$5,876$4,421$3,289$2,424$1,062
26 years$7,333$5,523$4,100$3,008$2,184$919
27 years$6,986$5,197$3,808$2,753$1,969$795
28 years$6,664$4,897$3,540$2,522$1,777$688
29 years$6,365$4,620$3,294$2,313$1,604$596
30 years$6,086$4,363$3,068$2,123$1,449$516
31 years$5,826$4,125$2,860$1,950$1,310$447
32 years$5,583$3,903$2,669$1,792$1,185$387
33 years$5,355$3,696$2,492$1,648$1,073$336
34 years$5,140$3,503$2,328$1,516$971$291
35 years$4,939$3,323$2,177$1,396$880$252
36 years$4,749$3,154$2,036$1,285$797$219
37 years$4,570$2,995$1,906$1,184$722$190
38 years$4,400$2,846$1,785$1,091$655$165
39 years$4,240$2,707$1,672$1,006$594$143
40 years$4,088$2,575$1,567$928$539$124
41 years$3,944$2,451$1,470$856$489$108
42 years$3,807$2,335$1,379$790$443$93
43 years$3,676$2,224$1,294$730$402$81
44 years$3,553$2,120$1,214$674$365$70
45 years$3,434$2,022$1,140$622$332$61
46 years$3,322$1,929$1,071$575$301$53
47 years$3,214$1,841$1,006$531$273$46
48 years$3,112$1,757$945$491$248$40
49 years$3,013$1,678$889$453$226$35
50 years$2,919$1,603$835$419$205$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,990,000, adding $3,934 every year, while hoping to spend $24,903 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: 67/19/14 Blend
59$2,990,000$2,990,000$2,990,000$2,990,000
60$3,299,038$3,140,568$3,094,223$3,509,127
61$3,609,043$3,267,959$3,171,383$3,777,087
62$3,949,834$3,400,758$3,250,293$4,066,661
63$4,324,525$3,539,203$3,330,986$4,382,650
64$4,736,547$3,683,544$3,413,493$4,727,642
65$5,189,678$3,834,041$3,497,849$5,104,483
66$5,688,084$3,990,968$3,584,086$5,516,309
67$6,236,353$4,154,609$3,672,237$5,966,568
68$6,839,540$4,325,264$3,762,336$6,459,057
69$7,503,215$4,503,244$3,854,416$6,997,957
70$8,233,515$4,688,875$3,948,511$7,587,867
71$9,037,202$4,882,499$4,044,655$8,233,855
72$9,921,727$5,084,472$4,142,881$8,941,497
73$10,895,300$5,295,168$4,243,225$9,716,933
74$11,966,967$5,514,977$4,345,718$10,566,927
75$13,146,694$5,744,307$4,450,397$11,498,924
76$14,445,465$5,983,586$4,557,293$12,521,122
77$15,875,381$6,233,261$4,666,441$13,642,551
78$17,449,778$6,493,799$4,777,875$14,873,156
79$19,183,350$6,765,689$4,891,628$16,223,887
80$21,092,287$7,049,444$5,007,733$17,706,806
81$23,194,431$7,345,597$5,126,223$19,335,197
82$25,509,442$7,654,710$5,247,131$21,123,694
83$28,058,983$7,977,369$5,370,488$23,088,411
84$30,866,926$8,314,187$5,496,326$25,247,103
85$33,959,576$8,665,806$5,624,676$27,619,322
86$37,365,919$9,032,897$5,755,569$30,226,610
87$41,117,897$9,416,163$5,889,035$33,092,695
88$45,250,708$9,816,340$6,025,102$36,243,715
89$49,803,136$10,234,197$6,163,800$39,708,465
90$54,817,924$10,670,540$6,305,155$43,518,667
91$60,342,168$11,126,212$6,449,193$47,709,267
92$66,427,768$11,602,096$6,595,941$52,318,765
93$73,131,917$12,099,115$6,745,421$57,389,575
94$80,517,637$12,618,237$6,897,658$62,968,427
95$88,654,379$13,160,472$7,052,671$69,106,801
96$97,618,671$13,726,882$7,210,482$75,861,419
97$107,494,851$14,318,574$7,371,108$83,294,772
98$118,375,852$14,936,710$7,534,566$91,475,712
99$130,364,085$15,582,505$7,700,871$100,480,096
100$143,572,406$16,257,232$7,870,034$110,391,508