Can I retire at age 60 with 3,000,000?

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 $3,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$247,737$245,530$243,378$241,276$239,224$235,358
2 years$122,642$120,358$118,144$115,998$113,916$110,032
3 years$80,949$78,655$76,447$74,321$72,273$68,491
4 years$60,107$57,820$55,634$53,544$51,546$47,896
5 years$47,605$45,332$43,174$41,127$39,184$35,676
6 years$39,273$37,017$34,891$32,890$31,005$27,644
7 years$33,324$31,087$28,995$27,040$25,216$22,001
8 years$28,864$26,647$24,590$22,684$20,919$17,851
9 years$25,397$23,201$21,179$19,321$17,617$14,694
10 years$22,625$20,450$18,465$16,655$15,010$12,231
11 years$20,359$18,206$16,256$14,495$12,909$10,269
12 years$18,471$16,341$14,427$12,714$11,187$8,684
13 years$16,875$14,767$12,889$11,225$9,755$7,385
14 years$15,509$13,423$11,581$9,964$8,551$6,310
15 years$14,326$12,262$10,456$8,886$7,529$5,412
16 years$13,291$11,250$9,480$7,957$6,654$4,658
17 years$12,379$10,361$8,626$7,149$5,900$4,019
18 years$11,570$9,574$7,875$6,443$5,246$3,477
19 years$10,846$8,873$7,209$5,821$4,676$3,013
20 years$10,196$8,245$6,616$5,272$4,177$2,616
21 years$9,608$7,680$6,086$4,785$3,738$2,275
22 years$9,075$7,169$5,609$4,351$3,350$1,980
23 years$8,589$6,705$5,179$3,962$3,007$1,726
24 years$8,143$6,282$4,789$3,614$2,703$1,506
25 years$7,734$5,896$4,436$3,300$2,432$1,314
26 years$7,358$5,541$4,114$3,018$2,191$1,148
27 years$7,009$5,215$3,820$2,762$1,975$1,004
28 years$6,686$4,914$3,551$2,531$1,782$878
29 years$6,386$4,636$3,305$2,321$1,610$768
30 years$6,107$4,378$3,078$2,130$1,454$673
31 years$5,846$4,139$2,870$1,956$1,315$589
32 years$5,601$3,916$2,678$1,798$1,189$516
33 years$5,373$3,708$2,500$1,653$1,076$452
34 years$5,158$3,515$2,336$1,521$975$396
35 years$4,955$3,334$2,184$1,400$883$348
36 years$4,765$3,164$2,043$1,290$800$305
37 years$4,585$3,005$1,912$1,188$725$267
38 years$4,415$2,856$1,791$1,095$657$234
39 years$4,254$2,716$1,678$1,010$596$206
40 years$4,101$2,584$1,573$931$541$180
41 years$3,957$2,460$1,475$859$490$158
42 years$3,819$2,342$1,383$793$445$139
43 years$3,689$2,232$1,298$732$404$122
44 years$3,564$2,127$1,218$676$367$107
45 years$3,446$2,029$1,144$624$333$94
46 years$3,333$1,935$1,074$577$302$82
47 years$3,225$1,847$1,009$533$274$72
48 years$3,122$1,763$949$492$249$63
49 years$3,023$1,684$892$455$226$56
50 years$2,929$1,608$838$421$206$49

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $3,000,000, adding $2,580 every year, while hoping to spend $32,848 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: 20/50/30 Blend
59$3,000,000$3,000,000$3,000,000$3,000,000
60$3,308,661$3,149,661$3,103,161$3,343,215
61$3,611,195$3,269,045$3,172,167$3,495,972
62$3,943,486$3,393,177$3,242,384$3,656,148
63$4,308,535$3,522,256$3,313,817$3,826,517
64$4,709,647$3,656,489$3,386,472$4,007,918
65$5,150,465$3,796,090$3,460,353$4,201,268
66$5,635,000$3,941,286$3,535,462$4,407,571
67$6,167,672$4,092,311$3,611,802$4,627,925
68$6,753,350$4,249,410$3,689,373$4,863,530
69$7,397,400$4,412,839$3,768,175$5,115,705
70$8,105,731$4,582,865$3,848,206$5,385,891
71$8,884,858$4,759,767$3,929,462$5,675,669
72$9,741,953$4,943,836$4,011,939$5,986,772
73$10,684,924$5,135,376$4,095,631$6,321,099
74$11,722,481$5,334,704$4,180,529$6,680,734
75$12,864,221$5,542,151$4,266,624$7,067,964
76$14,120,719$5,758,064$4,353,903$7,485,297
77$15,503,627$5,982,803$4,442,353$7,935,486
78$17,025,783$6,216,747$4,531,958$8,421,554
79$18,701,333$6,460,288$4,622,699$8,946,819
80$20,545,866$6,713,839$4,714,557$9,514,928
81$22,576,557$6,977,829$4,807,507$10,129,883
82$24,812,330$7,252,708$4,901,523$10,796,084
83$27,274,042$7,538,944$4,996,578$11,518,363
84$29,984,669$7,837,028$5,092,638$12,302,034
85$32,969,534$8,147,471$5,189,670$13,152,934
86$36,256,538$8,470,808$5,287,635$14,077,481
87$39,876,425$8,807,598$5,386,492$15,082,733
88$43,863,075$9,158,425$5,486,194$16,176,447
89$48,253,820$9,523,899$5,586,693$17,367,158
90$53,089,798$9,904,658$5,687,935$18,664,250
91$58,416,339$10,301,368$5,789,862$20,078,045
92$64,283,395$10,714,725$5,892,412$21,619,899
93$70,746,012$11,145,457$5,995,519$23,302,305
94$77,864,846$11,594,325$6,099,109$25,139,009
95$85,706,737$12,062,124$6,203,106$27,145,135
96$94,345,341$12,549,685$6,307,427$29,337,327
97$103,861,822$13,057,876$6,411,983$31,733,902
98$114,345,623$13,587,606$6,516,678$34,355,021
99$125,895,302$14,139,825$6,621,413$37,222,873
100$138,619,472$14,715,525$6,726,079$40,361,883