Can I retire at age 60 with 2,430,000?

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 $2,430,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$200,667$198,880$197,136$195,434$193,772$191,908
2 years$99,340$97,490$95,697$93,958$92,272$90,395
3 years$65,569$63,711$61,922$60,200$58,541$56,708
4 years$48,687$46,834$45,064$43,371$41,752$39,978
5 years$38,560$36,719$34,971$33,313$31,739$30,029
6 years$31,811$29,983$28,262$26,641$25,114$23,470
7 years$26,992$25,180$23,486$21,903$20,425$18,847
8 years$23,380$21,584$19,918$18,374$16,944$15,433
9 years$20,571$18,793$17,155$15,650$14,269$12,824
10 years$18,326$16,565$14,956$13,491$12,158$10,778
11 years$16,490$14,747$13,167$11,741$10,457$9,140
12 years$14,962$13,236$11,686$10,298$9,061$7,808
13 years$13,669$11,961$10,440$9,092$7,902$6,710
14 years$12,562$10,873$9,381$8,071$6,927$5,795
15 years$11,604$9,932$8,469$7,198$6,099$5,025
16 years$10,766$9,113$7,679$6,445$5,390$4,372
17 years$10,027$8,392$6,987$5,791$4,779$3,816
18 years$9,372$7,755$6,379$5,218$4,249$3,339
19 years$8,786$7,187$5,839$4,715$3,788$2,928
20 years$8,259$6,679$5,359$4,271$3,383$2,572
21 years$7,783$6,221$4,929$3,876$3,028$2,264
22 years$7,351$5,807$4,543$3,524$2,714$1,995
23 years$6,957$5,431$4,195$3,209$2,436$1,760
24 years$6,596$5,089$3,879$2,927$2,190$1,554
25 years$6,265$4,775$3,593$2,673$1,970$1,374
26 years$5,960$4,488$3,332$2,444$1,775$1,216
27 years$5,677$4,224$3,094$2,237$1,600$1,077
28 years$5,416$3,980$2,877$2,050$1,444$954
29 years$5,173$3,755$2,677$1,880$1,304$846
30 years$4,946$3,546$2,494$1,725$1,178$750
31 years$4,735$3,352$2,325$1,584$1,065$666
32 years$4,537$3,172$2,169$1,456$963$591
33 years$4,352$3,004$2,025$1,339$872$525
34 years$4,178$2,847$1,892$1,232$789$466
35 years$4,014$2,700$1,769$1,134$715$414
36 years$3,859$2,563$1,655$1,045$648$368
37 years$3,714$2,434$1,549$962$587$327
38 years$3,576$2,313$1,451$887$532$291
39 years$3,446$2,200$1,359$818$483$259
40 years$3,322$2,093$1,274$754$438$230
41 years$3,205$1,992$1,194$696$397$205
42 years$3,094$1,897$1,120$642$360$182
43 years$2,988$1,808$1,051$593$327$162
44 years$2,887$1,723$987$548$297$144
45 years$2,791$1,643$927$506$270$128
46 years$2,700$1,568$870$467$245$114
47 years$2,612$1,496$818$432$222$102
48 years$2,529$1,428$768$399$202$90
49 years$2,449$1,364$722$369$183$81
50 years$2,373$1,303$679$341$166$72

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,430,000, adding $3,481 every year, while hoping to spend $48,860 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: 58/14/28 Blend
59$2,430,000$2,430,000$2,430,000$2,430,000
60$2,681,451$2,552,661$2,514,996$2,816,278
61$2,902,972$2,625,754$2,547,261$2,982,128
62$3,145,451$2,700,792$2,578,970$3,157,430
63$3,410,973$2,777,817$2,610,052$3,347,576
64$3,701,837$2,856,875$2,640,433$3,554,017
65$4,020,571$2,938,009$2,670,035$3,778,357
66$4,369,963$3,021,264$2,698,774$4,022,357
67$4,753,080$3,106,687$2,726,564$4,287,961
68$5,173,302$3,194,323$2,753,312$4,577,310
69$5,634,353$3,284,218$2,778,922$4,892,761
70$6,140,332$3,376,420$2,803,291$5,236,913
71$6,695,755$3,470,975$2,826,311$5,612,629
72$7,305,600$3,567,930$2,847,870$6,023,063
73$7,975,345$3,667,332$2,867,847$6,471,690
74$8,711,027$3,769,229$2,886,118$6,962,340
75$9,519,299$3,873,668$2,902,549$7,499,233
76$10,407,487$3,980,697$2,917,004$8,087,019
77$11,383,662$4,090,363$2,929,335$8,730,821
78$12,456,717$4,202,712$2,939,389$9,436,287
79$13,636,450$4,317,792$2,947,006$10,209,639
80$14,933,653$4,435,649$2,952,016$11,057,734
81$16,360,219$4,556,330$2,954,242$11,988,127
82$17,929,249$4,679,878$2,953,498$13,009,147
83$19,655,180$4,806,340$2,949,587$14,129,971
84$21,553,916$4,935,758$2,942,306$15,360,710
85$23,642,981$5,068,176$2,931,439$16,712,511
86$25,941,684$5,203,635$2,916,761$18,197,656
87$28,471,299$5,342,176$2,898,035$19,829,680
88$31,255,266$5,483,837$2,875,014$21,623,500
89$34,319,415$5,628,657$2,847,439$23,595,555
90$37,692,204$5,776,670$2,815,037$25,763,962
91$41,404,993$5,927,911$2,777,525$28,148,687
92$45,492,334$6,082,410$2,734,603$30,771,734
93$49,992,300$6,240,197$2,685,961$33,657,352
94$54,946,846$6,401,297$2,631,271$36,832,266
95$60,402,197$6,565,734$2,570,193$40,325,926
96$66,409,294$6,733,528$2,502,367$44,170,792
97$73,024,267$6,904,695$2,427,420$48,402,632
98$80,308,965$7,079,248$2,344,962$53,060,870
99$88,331,543$7,257,195$2,254,582$58,188,949
100$97,167,103$7,438,539$2,155,853$63,834,749