Can I retire at age 60 with 3,200,000?

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 $3,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$264,253$261,899$259,603$257,361$255,172$248,099
2 years$130,818$128,382$126,021$123,731$121,511$114,437
3 years$86,346$83,899$81,544$79,276$77,091$70,239
4 years$64,114$61,675$59,343$57,114$54,982$48,403
5 years$50,778$48,354$46,053$43,869$41,797$35,510
6 years$41,891$39,484$37,217$35,082$33,072$27,083
7 years$35,545$33,159$30,928$28,843$26,897$21,206
8 years$30,788$28,423$26,229$24,196$22,313$16,918
9 years$27,090$24,748$22,591$20,609$18,791$13,685
10 years$24,133$21,814$19,696$17,766$16,011$11,189
11 years$21,716$19,420$17,340$15,461$13,770$9,223
12 years$19,703$17,430$15,388$13,562$11,933$7,653
13 years$18,000$15,752$13,749$11,973$10,406$6,384
14 years$16,543$14,318$12,353$10,628$9,121$5,348
15 years$15,281$13,080$11,153$9,478$8,031$4,495
16 years$14,177$12,000$10,112$8,487$7,098$3,790
17 years$13,205$11,052$9,202$7,625$6,294$3,203
18 years$12,341$10,212$8,400$6,872$5,596$2,712
19 years$11,569$9,465$7,690$6,210$4,988$2,301
20 years$10,876$8,795$7,057$5,624$4,455$1,954
21 years$10,249$8,192$6,491$5,104$3,987$1,662
22 years$9,680$7,647$5,983$4,641$3,574$1,415
23 years$9,161$7,152$5,524$4,226$3,208$1,205
24 years$8,686$6,701$5,109$3,855$2,883$1,028
25 years$8,250$6,289$4,732$3,520$2,595$877
26 years$7,848$5,910$4,388$3,219$2,337$748
27 years$7,477$5,562$4,075$2,946$2,107$639
28 years$7,132$5,241$3,788$2,699$1,901$546
29 years$6,812$4,945$3,525$2,475$1,717$467
30 years$6,514$4,670$3,284$2,272$1,551$399
31 years$6,235$4,414$3,061$2,087$1,402$341
32 years$5,975$4,177$2,856$1,918$1,269$292
33 years$5,731$3,956$2,667$1,763$1,148$249
34 years$5,501$3,749$2,492$1,622$1,039$213
35 years$5,286$3,556$2,330$1,494$942$183
36 years$5,082$3,375$2,179$1,376$853$156
37 years$4,890$3,206$2,040$1,267$773$134
38 years$4,709$3,046$1,910$1,168$701$114
39 years$4,538$2,897$1,790$1,077$636$98
40 years$4,375$2,756$1,677$993$577$84
41 years$4,221$2,624$1,573$917$523$72
42 years$4,074$2,499$1,475$846$475$61
43 years$3,935$2,381$1,384$781$431$53
44 years$3,802$2,269$1,300$721$391$45
45 years$3,676$2,164$1,220$666$355$38
46 years$3,555$2,064$1,146$615$322$33
47 years$3,440$1,970$1,077$568$293$28
48 years$3,330$1,881$1,012$525$266$24
49 years$3,225$1,796$951$485$241$21
50 years$3,124$1,715$894$449$219$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $3,200,000, adding $3,024 every year, while hoping to spend $52,208 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: 40/44/16 Blend
59$3,200,000$3,200,000$3,200,000$3,200,000
60$3,529,519$3,359,919$3,310,319$3,653,800
61$3,833,981$3,469,006$3,365,666$3,851,482
62$4,167,749$3,581,689$3,421,117$4,059,904
63$4,533,755$3,698,088$3,476,621$4,284,266
64$4,935,233$3,818,329$3,532,122$4,526,039
65$5,375,741$3,942,541$3,587,563$4,786,844
66$5,859,200$4,070,859$3,642,879$5,068,461
67$6,389,929$4,203,421$3,698,006$5,372,845
68$6,972,684$4,340,371$3,752,871$5,702,149
69$7,612,706$4,481,858$3,807,401$6,058,740
70$8,315,767$4,628,035$3,861,515$6,445,219
71$9,088,228$4,779,061$3,915,128$6,864,450
72$9,937,094$4,935,102$3,968,151$7,319,581
73$10,870,083$5,096,327$4,020,490$7,814,079
74$11,895,698$5,262,913$4,072,043$8,351,757
75$13,023,307$5,435,044$4,122,704$8,936,810
76$14,263,231$5,612,908$4,172,361$9,573,858
77$15,626,841$5,796,701$4,220,896$10,267,983
78$17,126,665$5,986,626$4,268,182$11,024,781
79$18,776,507$6,182,892$4,314,088$11,850,412
80$20,591,574$6,385,718$4,358,474$12,751,656
81$22,588,625$6,595,327$4,401,192$13,735,981
82$24,786,120$6,811,954$4,442,088$14,811,606
83$27,204,404$7,035,840$4,480,998$15,987,584
84$29,865,891$7,267,234$4,517,749$17,273,881
85$32,795,279$7,506,395$4,552,161$18,681,475
86$36,019,781$7,753,592$4,584,042$20,222,453
87$39,569,383$8,009,103$4,613,191$21,910,128
88$43,477,125$8,273,214$4,639,398$23,759,163
89$47,779,415$8,546,224$4,662,441$25,785,707
90$52,516,368$8,828,441$4,682,085$28,007,547
91$57,732,189$9,120,186$4,698,086$30,444,276
92$63,475,586$9,421,790$4,710,187$33,117,475
93$69,800,234$9,733,596$4,718,117$36,050,918
94$76,765,276$10,055,960$4,721,591$39,270,793
95$84,435,882$10,389,250$4,720,312$42,805,948
96$92,883,868$10,733,849$4,713,968$46,688,164
97$102,188,367$11,090,152$4,702,231$50,952,453
98$112,436,581$11,458,570$4,684,756$55,637,384
99$123,724,600$11,839,527$4,661,183$60,785,453
100$136,158,311$12,233,466$4,631,135$66,443,476