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

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 $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%19.2%
1 years$247,737$245,530$243,378$241,276$239,224$230,370
2 years$122,642$120,358$118,144$115,998$113,916$105,096
3 years$80,949$78,655$76,447$74,321$72,273$63,764
4 years$60,107$57,820$55,634$53,544$51,546$43,413
5 years$47,605$45,332$43,174$41,127$39,184$31,448
6 years$39,273$37,017$34,891$32,890$31,005$23,672
7 years$33,324$31,087$28,995$27,040$25,216$18,283
8 years$28,864$26,647$24,590$22,684$20,919$14,380
9 years$25,397$23,201$21,179$19,321$17,617$11,464
10 years$22,625$20,450$18,465$16,655$15,010$9,232
11 years$20,359$18,206$16,256$14,495$12,909$7,493
12 years$18,471$16,341$14,427$12,714$11,187$6,119
13 years$16,875$14,767$12,889$11,225$9,755$5,022
14 years$15,509$13,423$11,581$9,964$8,551$4,137
15 years$14,326$12,262$10,456$8,886$7,529$3,419
16 years$13,291$11,250$9,480$7,957$6,654$2,833
17 years$12,379$10,361$8,626$7,149$5,900$2,353
18 years$11,570$9,574$7,875$6,443$5,246$1,957
19 years$10,846$8,873$7,209$5,821$4,676$1,630
20 years$10,196$8,245$6,616$5,272$4,177$1,359
21 years$9,608$7,680$6,086$4,785$3,738$1,135
22 years$9,075$7,169$5,609$4,351$3,350$948
23 years$8,589$6,705$5,179$3,962$3,007$793
24 years$8,143$6,282$4,789$3,614$2,703$663
25 years$7,734$5,896$4,436$3,300$2,432$555
26 years$7,358$5,541$4,114$3,018$2,191$465
27 years$7,009$5,215$3,820$2,762$1,975$389
28 years$6,686$4,914$3,551$2,531$1,782$326
29 years$6,386$4,636$3,305$2,321$1,610$273
30 years$6,107$4,378$3,078$2,130$1,454$229
31 years$5,846$4,139$2,870$1,956$1,315$192
32 years$5,601$3,916$2,678$1,798$1,189$161
33 years$5,373$3,708$2,500$1,653$1,076$135
34 years$5,158$3,515$2,336$1,521$975$113
35 years$4,955$3,334$2,184$1,400$883$95
36 years$4,765$3,164$2,043$1,290$800$80
37 years$4,585$3,005$1,912$1,188$725$67
38 years$4,415$2,856$1,791$1,095$657$56
39 years$4,254$2,716$1,678$1,010$596$47
40 years$4,101$2,584$1,573$931$541$39
41 years$3,957$2,460$1,475$859$490$33
42 years$3,819$2,342$1,383$793$445$28
43 years$3,689$2,232$1,298$732$404$23
44 years$3,564$2,127$1,218$676$367$19
45 years$3,446$2,029$1,144$624$333$16
46 years$3,333$1,935$1,074$577$302$14
47 years$3,225$1,847$1,009$533$274$12
48 years$3,122$1,763$949$492$249$10
49 years$3,023$1,684$892$455$226$8
50 years$2,929$1,608$838$421$206$7

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 $5,388 every year, while hoping to spend $21,711 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: 49/38/13 Blend
59$3,000,000$3,000,000$3,000,000$3,000,000
60$3,311,558$3,152,558$3,106,058$3,461,756
61$3,626,236$3,283,933$3,187,010$3,697,012
62$3,972,284$3,421,017$3,269,947$3,949,712
63$4,352,879$3,564,069$3,354,912$4,223,719
64$4,771,520$3,713,355$3,441,949$4,521,035
65$5,232,063$3,869,158$3,531,102$4,843,863
66$5,738,758$4,031,772$3,622,419$5,194,618
67$6,296,287$4,201,504$3,715,945$5,575,958
68$6,909,807$4,378,676$3,811,728$5,990,804
69$7,585,002$4,563,626$3,909,815$6,442,365
70$8,328,134$4,756,705$4,010,256$6,934,169
71$9,146,103$4,958,284$4,113,100$7,470,098
72$10,046,514$5,168,747$4,218,396$8,054,416
73$11,037,742$5,388,500$4,326,197$8,691,815
74$12,129,021$5,617,965$4,436,553$9,387,457
75$13,330,520$5,857,585$4,549,517$10,147,017
76$14,653,449$6,107,823$4,665,142$10,976,739
77$16,110,159$6,369,164$4,783,482$11,883,492
78$17,714,257$6,642,115$4,904,591$12,874,836
79$19,480,741$6,927,208$5,028,524$13,959,087
80$21,426,134$7,224,999$5,155,337$15,145,397
81$23,568,646$7,536,070$5,285,087$16,443,837
82$25,928,341$7,861,031$5,417,831$17,865,495
83$28,527,329$8,200,519$5,553,625$19,422,569
84$31,389,974$8,555,202$5,692,530$21,128,492
85$34,543,124$8,925,779$5,834,602$22,998,046
86$38,016,364$9,312,984$5,979,902$25,047,507
87$41,842,294$9,717,581$6,128,490$27,294,792
88$46,056,839$10,140,373$6,280,425$29,759,628
89$50,699,587$10,582,202$6,435,770$32,463,734
90$55,814,161$11,043,946$6,594,584$35,431,026
91$61,448,633$11,526,526$6,756,930$38,687,837
92$67,655,975$12,030,908$6,922,869$42,263,164
93$74,494,564$12,558,102$7,092,464$46,188,940
94$82,028,726$13,109,165$7,265,778$50,500,330
95$90,329,347$13,685,205$7,442,873$55,236,062
96$99,474,542$14,287,382$7,623,811$60,438,787
97$109,550,393$14,916,912$7,808,657$66,155,480
98$120,651,759$15,575,066$7,997,472$72,437,879
99$132,883,171$16,263,177$8,190,320$79,342,969
100$146,359,823$16,982,641$8,387,264$86,933,518