Can I retire at age 60 with 2,370,000?

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 $2,370,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$195,712$193,969$192,268$190,608$188,987$186,394
2 years$96,887$95,083$93,334$91,639$89,994$87,386
3 years$63,950$62,138$60,393$58,714$57,096$54,554
4 years$47,484$45,678$43,951$42,300$40,721$38,265
5 years$37,608$35,812$34,108$32,490$30,956$28,593
6 years$31,025$29,243$27,564$25,983$24,494$22,227
7 years$26,326$24,558$22,906$21,362$19,920$17,750
8 years$22,802$21,051$19,426$17,920$16,526$14,451
9 years$20,064$18,329$16,732$15,264$13,917$11,938
10 years$17,874$16,156$14,587$13,158$11,858$9,973
11 years$16,083$14,383$12,842$11,451$10,198$8,405
12 years$14,592$12,909$11,397$10,044$8,838$7,135
13 years$13,332$11,666$10,183$8,867$7,707$6,091
14 years$12,252$10,604$9,149$7,872$6,756$5,226
15 years$11,317$9,687$8,260$7,020$5,948$4,501
16 years$10,500$8,888$7,489$6,286$5,257$3,890
17 years$9,780$8,185$6,815$5,648$4,661$3,371
18 years$9,140$7,564$6,221$5,090$4,145$2,928
19 years$8,569$7,010$5,695$4,599$3,694$2,549
20 years$8,055$6,514$5,227$4,165$3,300$2,223
21 years$7,591$6,067$4,808$3,780$2,953$1,942
22 years$7,169$5,664$4,431$3,437$2,647$1,698
23 years$6,785$5,297$4,091$3,130$2,376$1,487
24 years$6,433$4,963$3,784$2,855$2,136$1,303
25 years$6,110$4,658$3,504$2,607$1,922$1,143
26 years$5,813$4,377$3,250$2,384$1,731$1,004
27 years$5,537$4,120$3,018$2,182$1,561$882
28 years$5,282$3,882$2,806$1,999$1,408$775
29 years$5,045$3,662$2,611$1,833$1,272$681
30 years$4,824$3,458$2,432$1,683$1,149$599
31 years$4,618$3,269$2,267$1,545$1,039$528
32 years$4,425$3,094$2,115$1,420$940$465
33 years$4,244$2,930$1,975$1,306$850$409
34 years$4,074$2,777$1,845$1,202$770$360
35 years$3,915$2,634$1,725$1,106$697$318
36 years$3,764$2,500$1,614$1,019$632$280
37 years$3,622$2,374$1,511$939$573$247
38 years$3,488$2,256$1,415$865$519$217
39 years$3,361$2,145$1,325$798$471$192
40 years$3,240$2,041$1,242$736$427$169
41 years$3,126$1,943$1,165$679$387$149
42 years$3,017$1,851$1,093$626$352$131
43 years$2,914$1,763$1,025$578$319$116
44 years$2,816$1,681$963$534$290$102
45 years$2,722$1,603$904$493$263$90
46 years$2,633$1,529$849$456$239$80
47 years$2,548$1,459$797$421$217$70
48 years$2,466$1,393$749$389$197$62
49 years$2,388$1,330$704$359$179$55
50 years$2,314$1,271$662$332$162$48

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,370,000, adding $2,458 every year, while hoping to spend $38,328 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: 79/14/7 Blend
59$2,370,000$2,370,000$2,370,000$2,370,000
60$2,614,275$2,488,665$2,451,930$2,818,579
61$2,840,151$2,569,829$2,493,289$3,034,022
62$3,087,781$2,653,686$2,534,749$3,265,034
63$3,359,344$2,740,326$2,576,273$3,517,298
64$3,657,240$2,829,845$2,617,821$3,792,916
65$3,984,112$2,922,340$2,659,351$4,094,199
66$4,342,870$3,017,914$2,700,818$4,423,693
67$4,736,721$3,116,670$2,742,174$4,784,202
68$5,169,198$3,218,718$2,783,368$5,178,814
69$5,644,192$3,324,171$2,824,347$5,610,928
70$6,165,988$3,433,144$2,865,051$6,084,290
71$6,739,310$3,545,759$2,905,421$6,603,024
72$7,369,358$3,662,140$2,945,392$7,171,673
73$8,061,865$3,782,417$2,984,895$7,795,239
74$8,823,144$3,906,724$3,023,857$8,479,235
75$9,660,150$4,035,199$3,062,202$9,229,731
76$10,580,549$4,167,987$3,099,849$10,053,414
77$11,592,782$4,305,236$3,136,711$10,957,651
78$12,706,153$4,447,100$3,172,698$11,950,556
79$13,930,912$4,593,739$3,207,715$13,041,071
80$15,278,351$4,745,318$3,241,659$14,239,042
81$16,760,913$4,902,009$3,274,425$15,555,321
82$18,392,308$5,063,989$3,305,900$17,001,861
83$20,187,641$5,231,442$3,335,965$18,591,830
84$22,163,557$5,404,559$3,364,496$20,339,739
85$24,338,394$5,583,537$3,391,362$22,261,573
86$26,732,361$5,768,581$3,416,423$24,374,944
87$29,367,723$5,959,903$3,439,535$26,699,258
88$32,269,015$6,157,722$3,460,543$29,255,894
89$35,463,271$6,362,267$3,479,288$32,068,412
90$38,980,280$6,573,773$3,495,599$35,162,766
91$42,852,865$6,792,486$3,509,299$38,567,556
92$47,117,198$7,018,658$3,520,201$42,314,296
93$51,813,133$7,252,552$3,528,108$46,437,706
94$56,984,587$7,494,442$3,532,814$50,976,046
95$62,679,955$7,744,610$3,534,103$55,971,473
96$68,952,563$8,003,348$3,531,748$61,470,439
97$75,861,173$8,270,961$3,525,511$67,524,129
98$83,470,538$8,547,764$3,515,141$74,188,944
99$91,852,012$8,834,083$3,500,377$81,527,031
100$101,084,222$9,130,258$3,480,944$89,606,874