Can I retire at age 60 with 3,400,000?

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 $3,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$280,769$278,268$275,828$273,446$271,121$260,776
2 years$138,994$136,406$133,897$131,465$129,105$118,804
3 years$91,743$89,143$86,640$84,231$81,910$71,977
4 years$68,121$65,529$63,052$60,683$58,419$48,930
5 years$53,952$51,376$48,931$46,611$44,409$35,389
6 years$44,509$41,952$39,543$37,275$35,139$26,594
7 years$37,767$35,231$32,861$30,646$28,578$20,505
8 years$32,712$30,200$27,869$25,708$23,708$16,099
9 years$28,783$26,294$24,003$21,897$19,965$12,811
10 years$25,642$23,177$20,926$18,876$17,012$10,297
11 years$23,073$20,633$18,423$16,428$14,631$8,341
12 years$20,934$18,519$16,350$14,409$12,679$6,798
13 years$19,126$16,736$14,608$12,721$11,056$5,567
14 years$17,577$15,213$13,125$11,292$9,692$4,577
15 years$16,236$13,897$11,850$10,071$8,533$3,775
16 years$15,063$12,750$10,744$9,017$7,542$3,121
17 years$14,030$11,742$9,777$8,102$6,687$2,586
18 years$13,112$10,851$8,925$7,302$5,946$2,146
19 years$12,293$10,056$8,170$6,598$5,300$1,784
20 years$11,556$9,345$7,498$5,975$4,734$1,484
21 years$10,890$8,704$6,897$5,423$4,236$1,236
22 years$10,285$8,125$6,357$4,931$3,797$1,030
23 years$9,734$7,599$5,869$4,491$3,408$859
24 years$9,229$7,120$5,428$4,096$3,064$717
25 years$8,766$6,682$5,027$3,740$2,757$599
26 years$8,339$6,280$4,663$3,420$2,483$500
27 years$7,944$5,910$4,330$3,130$2,239$418
28 years$7,578$5,569$4,025$2,868$2,020$349
29 years$7,238$5,254$3,746$2,630$1,824$292
30 years$6,921$4,962$3,489$2,414$1,648$244
31 years$6,625$4,690$3,253$2,217$1,490$204
32 years$6,348$4,438$3,035$2,037$1,348$171
33 years$6,089$4,203$2,834$1,874$1,220$143
34 years$5,845$3,983$2,648$1,724$1,104$119
35 years$5,616$3,778$2,475$1,587$1,000$100
36 years$5,400$3,586$2,316$1,461$906$84
37 years$5,196$3,406$2,167$1,347$821$70
38 years$5,003$3,237$2,030$1,241$745$58
39 years$4,821$3,078$1,901$1,144$675$49
40 years$4,648$2,928$1,782$1,056$613$41
41 years$4,484$2,788$1,671$974$556$34
42 years$4,329$2,655$1,568$899$504$29
43 years$4,181$2,529$1,471$830$458$24
44 years$4,040$2,411$1,381$766$415$20
45 years$3,905$2,299$1,297$707$377$17
46 years$3,777$2,193$1,218$654$342$14
47 years$3,655$2,093$1,144$604$311$12
48 years$3,538$1,998$1,075$558$282$10
49 years$3,426$1,908$1,011$516$256$8
50 years$3,320$1,823$950$477$233$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $3,400,000, adding $4,094 every year, while hoping to spend $35,888 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: 67/15/18 Blend
59$3,400,000$3,400,000$3,400,000$3,400,000
60$3,751,023$3,570,823$3,518,123$3,985,531
61$4,095,443$3,707,609$3,597,796$4,279,640
62$4,473,791$3,849,894$3,678,934$4,596,570
63$4,889,489$3,997,911$3,761,551$4,942,258
64$5,346,309$4,151,901$3,845,655$5,319,527
65$5,848,405$4,312,116$3,931,256$5,731,487
66$6,400,352$4,478,820$4,018,364$6,181,559
67$7,007,194$4,652,288$4,106,985$6,673,510
68$7,674,485$4,832,807$4,197,125$7,211,490
69$8,408,345$5,020,677$4,288,792$7,800,064
70$9,215,517$5,216,211$4,381,987$8,444,262
71$10,103,431$5,419,737$4,476,715$9,149,621
72$11,080,271$5,631,594$4,572,975$9,922,239
73$12,155,058$5,852,141$4,670,769$10,768,830
74$13,337,728$6,081,750$4,770,093$11,696,792
75$14,639,229$6,320,809$4,870,945$12,714,267
76$16,071,628$6,569,726$4,973,319$13,830,227
77$17,648,215$6,828,924$5,077,206$15,054,552
78$19,383,639$7,098,847$5,182,599$16,398,125
79$21,294,038$7,379,959$5,289,484$17,872,933
80$23,397,196$7,672,743$5,397,848$19,492,179
81$25,712,708$7,977,705$5,507,673$21,270,407
82$28,262,165$8,295,373$5,618,941$23,223,641
83$31,069,360$8,626,301$5,731,630$25,369,529
84$34,160,509$8,971,064$5,845,714$27,727,514
85$37,564,501$9,330,266$5,961,165$30,319,015
86$41,313,168$9,704,537$6,077,952$33,167,630
87$45,441,587$10,094,535$6,196,039$36,299,355
88$49,988,411$10,500,949$6,315,389$39,742,829
89$54,996,232$10,924,499$6,435,957$43,529,605
90$60,511,985$11,365,936$6,557,699$47,694,448
91$66,587,387$11,826,047$6,680,562$52,275,657
92$73,279,431$12,305,654$6,804,491$57,315,430
93$80,650,917$12,805,615$6,929,426$62,860,261
94$88,771,050$13,326,830$7,055,301$68,961,375
95$97,716,089$13,870,236$7,182,046$75,675,212
96$107,570,070$14,436,818$7,309,584$83,063,960
97$118,425,595$15,027,600$7,437,833$91,196,137
98$130,384,710$15,643,657$7,566,705$100,147,241
99$143,559,866$16,286,111$7,696,105$110,000,458
100$158,074,979$16,956,137$7,825,931$120,847,446