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%18%
1 years$280,769$278,268$275,828$273,446$271,121$262,337
2 years$138,994$136,406$133,897$131,465$129,105$120,338
3 years$91,743$89,143$86,640$84,231$81,910$73,434
4 years$68,121$65,529$63,052$60,683$58,419$50,300
5 years$53,952$51,376$48,931$46,611$44,409$36,669
6 years$44,509$41,952$39,543$37,275$35,139$27,784
7 years$37,767$35,231$32,861$30,646$28,578$21,607
8 years$32,712$30,200$27,869$25,708$23,708$17,116
9 years$28,783$26,294$24,003$21,897$19,965$13,745
10 years$25,642$23,177$20,926$18,876$17,012$11,153
11 years$23,073$20,633$18,423$16,428$14,631$9,123
12 years$20,934$18,519$16,350$14,409$12,679$7,510
13 years$19,126$16,736$14,608$12,721$11,056$6,214
14 years$17,577$15,213$13,125$11,292$9,692$5,162
15 years$16,236$13,897$11,850$10,071$8,533$4,303
16 years$15,063$12,750$10,744$9,017$7,542$3,597
17 years$14,030$11,742$9,777$8,102$6,687$3,013
18 years$13,112$10,851$8,925$7,302$5,946$2,529
19 years$12,293$10,056$8,170$6,598$5,300$2,126
20 years$11,556$9,345$7,498$5,975$4,734$1,789
21 years$10,890$8,704$6,897$5,423$4,236$1,508
22 years$10,285$8,125$6,357$4,931$3,797$1,271
23 years$9,734$7,599$5,869$4,491$3,408$1,073
24 years$9,229$7,120$5,428$4,096$3,064$906
25 years$8,766$6,682$5,027$3,740$2,757$766
26 years$8,339$6,280$4,663$3,420$2,483$647
27 years$7,944$5,910$4,330$3,130$2,239$547
28 years$7,578$5,569$4,025$2,868$2,020$463
29 years$7,238$5,254$3,746$2,630$1,824$392
30 years$6,921$4,962$3,489$2,414$1,648$332
31 years$6,625$4,690$3,253$2,217$1,490$281
32 years$6,348$4,438$3,035$2,037$1,348$238
33 years$6,089$4,203$2,834$1,874$1,220$201
34 years$5,845$3,983$2,648$1,724$1,104$170
35 years$5,616$3,778$2,475$1,587$1,000$144
36 years$5,400$3,586$2,316$1,461$906$122
37 years$5,196$3,406$2,167$1,347$821$104
38 years$5,003$3,237$2,030$1,241$745$88
39 years$4,821$3,078$1,901$1,144$675$74
40 years$4,648$2,928$1,782$1,056$613$63
41 years$4,484$2,788$1,671$974$556$53
42 years$4,329$2,655$1,568$899$504$45
43 years$4,181$2,529$1,471$830$458$38
44 years$4,040$2,411$1,381$766$415$32
45 years$3,905$2,299$1,297$707$377$28
46 years$3,777$2,193$1,218$654$342$23
47 years$3,655$2,093$1,144$604$311$20
48 years$3,538$1,998$1,075$558$282$17
49 years$3,426$1,908$1,011$516$256$14
50 years$3,320$1,823$950$477$233$12

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 $5,502 every year, while hoping to spend $20,647 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: 36/40/24 Blend
59$3,400,000$3,400,000$3,400,000$3,400,000
60$3,752,475$3,572,275$3,519,575$3,860,239
61$4,113,260$3,725,349$3,615,513$4,093,174
62$4,510,152$3,885,230$3,713,972$4,342,182
63$4,946,813$4,052,233$3,815,016$4,610,598
64$5,427,278$4,226,682$3,918,709$4,900,174
65$5,955,990$4,408,919$4,025,116$5,212,833
66$6,537,848$4,599,303$4,134,304$5,550,687
67$7,178,247$4,798,208$4,246,342$5,916,048
68$7,883,134$5,006,025$4,361,300$6,311,458
69$8,659,059$5,223,166$4,479,249$6,739,707
70$9,513,241$5,450,059$4,600,262$7,203,856
71$10,453,636$5,687,156$4,724,415$7,707,269
72$11,489,007$5,934,927$4,851,783$8,253,639
73$12,629,012$6,193,865$4,982,444$8,847,024
74$13,884,294$6,464,487$5,116,479$9,491,883
75$15,266,579$6,747,334$5,253,968$10,193,116
76$16,788,789$7,042,972$5,394,995$10,956,105
77$18,465,163$7,351,995$5,539,644$11,786,772
78$20,311,390$7,675,023$5,688,002$12,691,622
79$22,344,759$8,012,707$5,840,158$13,677,809
80$24,584,323$8,365,728$5,996,202$14,753,199
81$27,051,076$8,734,800$6,156,226$15,926,444
82$29,768,150$9,120,670$6,320,324$17,207,058
83$32,761,038$9,524,120$6,488,592$18,605,507
84$36,057,832$9,945,969$6,661,128$20,133,303
85$39,689,487$10,387,078$6,838,031$21,803,113
86$43,690,113$10,848,344$7,019,405$23,628,870
87$48,097,301$11,330,709$7,205,351$25,625,909
88$52,952,473$11,835,161$7,395,977$27,811,103
89$58,301,273$12,362,731$7,591,390$30,203,021
90$64,194,002$12,914,504$7,791,701$32,822,099
91$70,686,088$13,491,613$7,997,020$35,690,831
92$77,838,612$14,095,245$8,207,464$38,833,976
93$85,718,883$14,726,645$8,423,147$42,278,788
94$94,401,076$15,387,117$8,644,189$46,055,268
95$103,966,926$16,078,026$8,870,710$50,196,448
96$114,506,507$16,800,804$9,102,833$54,738,692
97$126,119,076$17,556,949$9,340,683$59,722,037
98$138,914,014$18,348,031$9,584,388$65,190,567
99$153,011,855$19,175,696$9,834,077$71,192,824
100$168,545,428$20,041,669$10,089,882$77,782,260