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%15.9%
1 years$247,737$245,530$243,378$241,276$239,224$233,441
2 years$122,642$120,358$118,144$115,998$113,916$108,125
3 years$80,949$78,655$76,447$74,321$72,273$66,654
4 years$60,107$57,820$55,634$53,544$51,546$46,142
5 years$47,605$45,332$43,174$41,127$39,184$34,012
6 years$39,273$37,017$34,891$32,890$31,005$26,069
7 years$33,324$31,087$28,995$27,040$25,216$20,516
8 years$28,864$26,647$24,590$22,684$20,919$16,454
9 years$25,397$23,201$21,179$19,321$17,617$13,383
10 years$22,625$20,450$18,465$16,655$15,010$11,002
11 years$20,359$18,206$16,256$14,495$12,909$9,122
12 years$18,471$16,341$14,427$12,714$11,187$7,614
13 years$16,875$14,767$12,889$11,225$9,755$6,390
14 years$15,509$13,423$11,581$9,964$8,551$5,386
15 years$14,326$12,262$10,456$8,886$7,529$4,556
16 years$13,291$11,250$9,480$7,957$6,654$3,866
17 years$12,379$10,361$8,626$7,149$5,900$3,289
18 years$11,570$9,574$7,875$6,443$5,246$2,803
19 years$10,846$8,873$7,209$5,821$4,676$2,394
20 years$10,196$8,245$6,616$5,272$4,177$2,048
21 years$9,608$7,680$6,086$4,785$3,738$1,753
22 years$9,075$7,169$5,609$4,351$3,350$1,503
23 years$8,589$6,705$5,179$3,962$3,007$1,290
24 years$8,143$6,282$4,789$3,614$2,703$1,107
25 years$7,734$5,896$4,436$3,300$2,432$952
26 years$7,358$5,541$4,114$3,018$2,191$818
27 years$7,009$5,215$3,820$2,762$1,975$704
28 years$6,686$4,914$3,551$2,531$1,782$606
29 years$6,386$4,636$3,305$2,321$1,610$521
30 years$6,107$4,378$3,078$2,130$1,454$449
31 years$5,846$4,139$2,870$1,956$1,315$387
32 years$5,601$3,916$2,678$1,798$1,189$333
33 years$5,373$3,708$2,500$1,653$1,076$287
34 years$5,158$3,515$2,336$1,521$975$248
35 years$4,955$3,334$2,184$1,400$883$213
36 years$4,765$3,164$2,043$1,290$800$184
37 years$4,585$3,005$1,912$1,188$725$159
38 years$4,415$2,856$1,791$1,095$657$137
39 years$4,254$2,716$1,678$1,010$596$118
40 years$4,101$2,584$1,573$931$541$102
41 years$3,957$2,460$1,475$859$490$88
42 years$3,819$2,342$1,383$793$445$76
43 years$3,689$2,232$1,298$732$404$65
44 years$3,564$2,127$1,218$676$367$56
45 years$3,446$2,029$1,144$624$333$49
46 years$3,333$1,935$1,074$577$302$42
47 years$3,225$1,847$1,009$533$274$36
48 years$3,122$1,763$949$492$249$31
49 years$3,023$1,684$892$455$226$27
50 years$2,929$1,608$838$421$206$23

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 $3,348 every year, while hoping to spend $59,513 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: 61/32/7 Blend
59$3,000,000$3,000,000$3,000,000$3,000,000
60$3,309,453$3,150,453$3,103,953$3,506,503
61$3,583,696$3,241,504$3,144,615$3,729,719
62$3,883,917$3,335,022$3,184,643$3,965,981
63$4,212,704$3,431,065$3,223,955$4,222,247
64$4,572,904$3,529,691$3,262,462$4,500,443
65$4,967,655$3,630,961$3,300,070$4,802,694
66$5,400,413$3,734,935$3,336,679$5,131,334
67$5,874,983$3,841,675$3,372,186$5,488,936
68$6,395,556$3,951,242$3,406,479$5,878,329
69$6,966,750$4,063,700$3,439,443$6,302,630
70$7,593,649$4,179,113$3,470,956$6,765,271
71$8,281,856$4,297,543$3,500,886$7,270,029
72$9,037,539$4,419,057$3,529,100$7,821,063
73$9,867,496$4,543,719$3,555,453$8,422,955
74$10,779,215$4,671,596$3,579,796$9,080,750
75$11,780,945$4,802,753$3,601,968$9,800,003
76$12,881,771$4,937,258$3,621,804$10,586,834
77$14,091,706$5,075,178$3,639,129$11,447,981
78$15,421,778$5,216,580$3,653,758$12,390,869
79$16,884,138$5,361,530$3,665,497$13,423,674
80$18,492,173$5,510,098$3,674,144$14,555,404
81$20,260,631$5,662,350$3,679,485$15,795,980
82$22,205,764$5,818,353$3,681,296$17,156,333
83$24,345,474$5,978,175$3,679,341$18,648,503
84$26,699,489$6,141,882$3,673,375$20,285,757
85$29,289,542$6,309,540$3,663,139$22,082,708
86$32,139,582$6,481,214$3,648,361$24,055,458
87$35,275,996$6,656,969$3,628,757$26,221,744
88$38,727,855$6,836,869$3,604,029$28,601,112
89$42,527,197$7,020,976$3,573,864$31,215,093
90$46,709,318$7,209,350$3,537,935$34,087,415
91$51,313,112$7,402,052$3,495,900$37,244,216
92$56,381,435$7,599,139$3,447,398$40,714,299
93$61,961,511$7,800,666$3,392,056$44,529,401
94$68,105,374$8,006,687$3,329,478$48,724,490
95$74,870,359$8,217,252$3,259,253$53,338,096
96$82,319,648$8,432,409$3,180,950$58,412,676
97$90,522,858$8,652,204$3,094,118$63,995,010
98$99,556,704$8,876,676$2,998,285$70,136,649
99$109,505,718$9,105,863$2,892,958$76,894,393
100$120,463,050$9,339,799$2,777,621$84,330,834