Can I retire at age 60 with 3,100,000?

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 $3,100,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$255,995$253,715$251,490$249,319$247,198$242,406
2 years$126,730$124,370$122,083$119,865$117,714$112,904
3 years$83,648$81,277$78,996$76,799$74,682$70,007
4 years$62,110$59,747$57,489$55,329$53,264$48,758
5 years$49,192$46,843$44,613$42,498$40,490$36,167
6 years$40,582$38,251$36,054$33,986$32,039$27,902
7 years$34,434$32,123$29,961$27,942$26,056$22,108
8 years$29,826$27,535$25,410$23,440$21,616$17,855
9 years$26,243$23,974$21,885$19,965$18,204$14,627
10 years$23,379$21,132$19,080$17,210$15,511$12,115
11 years$21,037$18,813$16,798$14,978$13,340$10,121
12 years$19,087$16,885$14,908$13,138$11,560$8,514
13 years$17,438$15,259$13,319$11,599$10,080$7,203
14 years$16,026$13,870$11,967$10,296$8,836$6,121
15 years$14,803$12,671$10,805$9,182$7,780$5,221
16 years$13,734$11,625$9,796$8,222$6,876$4,468
17 years$12,792$10,706$8,914$7,387$6,097$3,834
18 years$11,956$9,893$8,137$6,657$5,421$3,297
19 years$11,208$9,169$7,449$6,015$4,832$2,841
20 years$10,536$8,520$6,837$5,448$4,316$2,452
21 years$9,929$7,936$6,288$4,945$3,862$2,119
22 years$9,377$7,408$5,796$4,496$3,462$1,833
23 years$8,875$6,929$5,351$4,094$3,108$1,588
24 years$8,415$6,492$4,949$3,734$2,793$1,377
25 years$7,992$6,092$4,584$3,410$2,514$1,194
26 years$7,603$5,726$4,251$3,118$2,264$1,037
27 years$7,243$5,389$3,948$2,854$2,041$901
28 years$6,909$5,078$3,670$2,615$1,842$783
29 years$6,599$4,790$3,415$2,398$1,663$680
30 years$6,310$4,524$3,181$2,201$1,503$592
31 years$6,041$4,276$2,966$2,021$1,359$515
32 years$5,788$4,046$2,767$1,858$1,229$448
33 years$5,552$3,832$2,584$1,708$1,112$390
34 years$5,329$3,632$2,414$1,572$1,007$339
35 years$5,120$3,445$2,257$1,447$912$296
36 years$4,924$3,270$2,111$1,333$826$257
37 years$4,738$3,105$1,976$1,228$749$224
38 years$4,562$2,951$1,850$1,132$679$195
39 years$4,396$2,806$1,734$1,043$616$170
40 years$4,238$2,670$1,625$962$559$148
41 years$4,089$2,542$1,524$888$507$129
42 years$3,947$2,420$1,429$819$460$113
43 years$3,812$2,306$1,341$756$417$98
44 years$3,683$2,198$1,259$698$379$86
45 years$3,561$2,096$1,182$645$344$75
46 years$3,444$2,000$1,110$596$312$65
47 years$3,333$1,908$1,043$550$283$57
48 years$3,226$1,822$980$509$257$49
49 years$3,124$1,740$921$470$234$43
50 years$3,027$1,662$866$435$212$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $3,100,000, adding $4,289 every year, while hoping to spend $24,925 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: 54/24/22 Blend
59$3,100,000$3,100,000$3,100,000$3,100,000
60$3,420,624$3,256,324$3,208,274$3,584,494
61$3,743,008$3,389,364$3,289,231$3,830,536
62$4,097,439$3,528,087$3,372,065$4,095,272
63$4,487,161$3,672,747$3,456,812$4,382,940
64$4,915,745$3,823,605$3,543,510$4,695,740
65$5,387,129$3,980,939$3,632,194$5,036,094
66$5,905,647$4,145,037$3,722,904$5,406,662
67$6,476,079$4,316,200$3,815,678$5,810,373
68$7,103,689$4,494,743$3,910,553$6,250,447
69$7,794,277$4,680,997$4,007,568$6,730,429
70$8,554,235$4,875,307$4,106,763$7,254,218
71$9,390,604$5,078,034$4,208,176$7,826,103
72$10,311,143$5,289,556$4,311,848$8,450,807
73$11,324,402$5,510,267$4,417,817$9,133,525
74$12,439,802$5,740,581$4,526,125$9,879,976
75$13,667,722$5,980,929$4,636,811$10,696,457
76$15,019,601$6,231,766$4,749,915$11,589,895
77$16,508,041$6,493,563$4,865,478$12,567,921
78$18,146,929$6,766,816$4,983,540$13,638,930
79$19,951,569$7,052,043$5,104,141$14,812,170
80$21,938,823$7,349,787$5,227,323$16,097,821
81$24,127,270$7,660,614$5,353,126$17,507,092
82$26,537,386$7,985,118$5,481,590$19,052,325
83$29,191,731$8,323,920$5,612,755$20,747,111
84$32,115,166$8,677,671$5,746,661$22,606,418
85$35,335,087$9,047,051$5,883,348$24,646,729
86$38,881,682$9,432,773$6,022,856$26,886,196
87$42,788,215$9,835,580$6,165,224$29,344,812
88$47,091,344$10,256,254$6,310,489$32,044,594
89$51,831,462$10,695,612$6,458,691$35,009,796
90$57,053,081$11,154,506$6,609,868$38,267,129
91$62,805,251$11,633,834$6,764,055$41,846,016
92$69,142,025$12,134,530$6,921,289$45,778,866
93$76,122,965$12,657,575$7,081,605$50,101,379
94$83,813,708$13,203,996$7,245,039$54,852,880
95$92,286,581$13,774,867$7,411,622$60,076,689
96$101,621,289$14,371,312$7,581,389$65,820,526
97$111,905,664$14,994,510$7,754,369$72,136,962
98$123,236,494$15,645,693$7,930,592$79,083,911
99$135,720,437$16,326,153$8,110,088$86,725,176
100$149,475,027$17,037,240$8,292,881$95,131,044