Can I retire at age 60 with 2,350,000?

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 $2,350,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$194,061$192,332$190,646$189,000$187,392$183,384
2 years$96,070$94,280$92,546$90,865$89,234$85,216
3 years$63,410$61,613$59,884$58,218$56,614$52,710
4 years$47,084$45,292$43,580$41,943$40,378$36,619
5 years$37,290$35,510$33,820$32,216$30,694$27,091
6 years$30,764$28,996$27,331$25,764$24,287$20,844
7 years$26,103$24,351$22,713$21,182$19,752$16,469
8 years$22,610$20,873$19,262$17,769$16,386$13,262
9 years$19,894$18,174$16,590$15,135$13,800$10,832
10 years$17,723$16,020$14,464$13,047$11,758$8,944
11 years$15,948$14,261$12,734$11,354$10,112$7,449
12 years$14,469$12,800$11,301$9,959$8,763$6,246
13 years$13,219$11,568$10,097$8,793$7,642$5,266
14 years$12,149$10,515$9,072$7,805$6,699$4,460
15 years$11,222$9,605$8,191$6,961$5,898$3,791
16 years$10,411$8,813$7,426$6,233$5,213$3,233
17 years$9,697$8,116$6,757$5,600$4,622$2,764
18 years$9,063$7,500$6,169$5,047$4,110$2,369
19 years$8,496$6,951$5,647$4,560$3,663$2,033
20 years$7,987$6,459$5,183$4,130$3,272$1,748
21 years$7,527$6,016$4,767$3,748$2,928$1,505
22 years$7,109$5,616$4,394$3,408$2,624$1,297
23 years$6,728$5,252$4,057$3,104$2,356$1,119
24 years$6,379$4,921$3,752$2,831$2,117$966
25 years$6,059$4,618$3,475$2,585$1,905$835
26 years$5,763$4,340$3,223$2,364$1,716$722
27 years$5,491$4,085$2,993$2,164$1,547$625
28 years$5,238$3,849$2,782$1,982$1,396$541
29 years$5,003$3,631$2,589$1,818$1,261$468
30 years$4,784$3,429$2,411$1,668$1,139$405
31 years$4,579$3,242$2,248$1,532$1,030$351
32 years$4,388$3,067$2,098$1,408$932$304
33 years$4,209$2,905$1,958$1,295$843$264
34 years$4,040$2,753$1,830$1,191$763$229
35 years$3,882$2,611$1,711$1,097$691$198
36 years$3,732$2,479$1,600$1,010$626$172
37 years$3,591$2,354$1,498$931$568$149
38 years$3,458$2,237$1,403$858$515$129
39 years$3,332$2,127$1,314$791$467$112
40 years$3,213$2,024$1,232$730$423$97
41 years$3,100$1,927$1,155$673$384$85
42 years$2,992$1,835$1,084$621$349$73
43 years$2,890$1,748$1,017$573$316$64
44 years$2,792$1,666$954$529$287$55
45 years$2,699$1,589$896$489$261$48
46 years$2,611$1,516$842$452$237$42
47 years$2,526$1,447$791$417$215$36
48 years$2,446$1,381$743$386$195$31
49 years$2,368$1,319$698$356$177$27
50 years$2,294$1,260$657$329$161$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,350,000, adding $6,347 every year, while hoping to spend $52,895 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: 42/42/16 Blend
59$2,350,000$2,350,000$2,350,000$2,350,000
60$2,596,247$2,471,697$2,435,272$2,692,873
61$2,804,784$2,536,530$2,460,574$2,826,462
62$3,032,820$2,602,768$2,484,950$2,965,342
63$3,282,286$2,670,422$2,508,315$3,114,601
64$3,555,311$2,739,505$2,530,576$3,275,216
65$3,854,240$2,810,027$2,551,637$3,448,259
66$4,181,652$2,881,998$2,571,396$3,634,913
67$4,540,390$2,955,426$2,589,748$3,836,479
68$4,933,584$3,030,316$2,606,578$4,054,390
69$5,364,681$3,106,673$2,621,770$4,290,224
70$5,837,478$3,184,499$2,635,199$4,545,719
71$6,356,157$3,263,796$2,646,734$4,822,789
72$6,925,323$3,344,560$2,656,238$5,123,543
73$7,550,051$3,426,788$2,663,567$5,450,303
74$8,235,929$3,510,473$2,668,569$5,805,629
75$8,989,113$3,595,606$2,671,085$6,192,339
76$9,816,385$3,682,174$2,670,949$6,613,540
77$10,725,216$3,770,160$2,667,986$7,072,652
78$11,723,836$3,859,546$2,662,011$7,573,447
79$12,821,312$3,950,308$2,652,833$8,120,080
80$14,027,632$4,042,419$2,640,249$8,717,128
81$15,353,800$4,135,848$2,624,048$9,369,635
82$16,811,942$4,230,558$2,604,007$10,083,162
83$18,415,414$4,326,509$2,579,895$10,863,833
84$20,178,932$4,423,654$2,551,468$11,718,401
85$22,118,711$4,521,942$2,518,470$12,654,304
86$24,252,616$4,621,313$2,480,636$13,679,742
87$26,600,330$4,721,705$2,437,684$14,803,751
88$29,183,540$4,823,045$2,389,323$16,036,288
89$32,026,142$4,925,254$2,335,246$17,388,329
90$35,154,464$5,028,248$2,275,132$18,871,969
91$38,597,518$5,131,930$2,208,647$20,500,538
92$42,387,267$5,236,197$2,135,440$22,288,727
93$46,558,935$5,340,937$2,055,143$24,252,729
94$51,151,330$5,446,026$1,967,374$26,410,389
95$56,207,215$5,551,332$1,871,731$28,781,374
96$61,773,712$5,656,708$1,767,795$31,387,361
97$67,902,743$5,761,999$1,655,128$34,252,241
98$74,651,520$5,867,034$1,533,273$37,402,345
99$82,083,088$5,971,632$1,401,750$40,866,690
100$90,266,915$6,075,593$1,260,060$44,677,262