Can I retire at age 60 with 2,520,000?

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 $2,520,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$208,099$206,246$204,437$202,672$200,948$198,520
2 years$103,019$101,101$99,241$97,438$95,690$93,245
3 years$67,997$66,070$64,216$62,430$60,709$58,326
4 years$50,490$48,569$46,733$44,977$43,299$40,993
5 years$39,988$38,079$36,266$34,547$32,915$30,695
6 years$32,989$31,094$29,309$27,627$26,044$23,913
7 years$27,992$26,113$24,356$22,714$21,181$19,139
8 years$24,246$22,383$20,655$19,054$17,572$15,618
9 years$21,333$19,489$17,791$16,230$14,798$12,933
10 years$19,005$17,178$15,510$13,990$12,609$10,830
11 years$17,101$15,293$13,655$12,176$10,844$9,150
12 years$15,516$13,726$12,118$10,680$9,397$7,787
13 years$14,175$12,404$10,827$9,429$8,194$6,666
14 years$13,027$11,275$9,728$8,370$7,183$5,733
15 years$12,033$10,300$8,783$7,464$6,325$4,952
16 years$11,165$9,450$7,963$6,683$5,590$4,291
17 years$10,399$8,703$7,246$6,005$4,956$3,729
18 years$9,719$8,042$6,615$5,412$4,407$3,249
19 years$9,111$7,453$6,056$4,890$3,928$2,837
20 years$8,565$6,926$5,558$4,429$3,508$2,481
21 years$8,071$6,451$5,112$4,019$3,140$2,174
22 years$7,623$6,022$4,711$3,655$2,814$1,907
23 years$7,214$5,632$4,350$3,328$2,526$1,675
24 years$6,840$5,277$4,023$3,036$2,271$1,472
25 years$6,497$4,952$3,726$2,772$2,043$1,296
26 years$6,180$4,654$3,456$2,535$1,840$1,141
27 years$5,888$4,380$3,209$2,320$1,659$1,006
28 years$5,617$4,128$2,983$2,126$1,497$887
29 years$5,364$3,894$2,776$1,949$1,352$782
30 years$5,130$3,677$2,586$1,789$1,222$690
31 years$4,910$3,476$2,411$1,643$1,104$610
32 years$4,705$3,289$2,249$1,510$999$539
33 years$4,513$3,115$2,100$1,389$904$476
34 years$4,332$2,952$1,962$1,278$819$421
35 years$4,162$2,800$1,835$1,176$741$372
36 years$4,002$2,658$1,716$1,083$672$329
37 years$3,851$2,524$1,606$998$609$291
38 years$3,708$2,399$1,504$920$552$257
39 years$3,573$2,281$1,409$848$501$228
40 years$3,445$2,170$1,321$782$454$201
41 years$3,324$2,066$1,239$722$412$178
42 years$3,208$1,968$1,162$666$374$158
43 years$3,099$1,875$1,090$615$339$140
44 years$2,994$1,787$1,023$568$308$124
45 years$2,895$1,704$961$524$280$109
46 years$2,800$1,626$903$484$254$97
47 years$2,709$1,551$848$447$230$86
48 years$2,622$1,481$797$414$209$76
49 years$2,540$1,414$749$382$190$67
50 years$2,460$1,351$704$353$173$60

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,520,000, adding $3,851 every year, while hoping to spend $53,500 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: 63/25/12 Blend
59$2,520,000$2,520,000$2,520,000$2,520,000
60$2,781,012$2,647,452$2,608,392$2,948,213
61$3,007,752$2,720,254$2,638,850$3,133,403
62$3,255,826$2,794,830$2,668,535$3,329,014
63$3,527,354$2,871,210$2,697,364$3,541,280
64$3,824,670$2,949,425$2,725,252$3,771,819
65$4,150,344$3,029,505$2,752,106$4,022,411
66$4,507,208$3,111,479$2,777,829$4,295,019
67$4,898,377$3,195,376$2,802,321$4,591,800
68$5,327,286$3,281,223$2,825,473$4,915,133
69$5,797,715$3,369,050$2,847,173$5,267,636
70$6,313,831$3,458,882$2,867,302$5,652,195
71$6,880,220$3,550,745$2,885,734$6,071,984
72$7,501,935$3,644,664$2,902,339$6,530,502
73$8,184,543$3,740,664$2,916,979$7,031,605
74$8,934,176$3,838,766$2,929,507$7,579,535
75$9,757,587$3,938,991$2,939,771$8,178,970
76$10,662,219$4,041,359$2,947,611$8,835,061
77$11,656,268$4,145,888$2,952,858$9,553,483
78$12,748,765$4,252,594$2,955,336$10,340,487
79$13,949,658$4,361,491$2,954,860$11,202,963
80$15,269,909$4,472,589$2,951,233$12,148,499
81$16,721,593$4,585,900$2,944,253$13,185,455
82$18,318,015$4,701,428$2,933,705$14,323,045
83$20,073,832$4,819,178$2,919,364$15,571,417
84$22,005,196$4,939,150$2,900,995$16,941,756
85$24,129,899$5,061,342$2,878,352$18,446,383
86$26,467,547$5,185,746$2,851,175$20,098,878
87$29,039,742$5,312,353$2,819,195$21,914,200
88$31,870,285$5,441,148$2,782,127$23,908,835
89$34,985,401$5,572,110$2,739,675$26,100,949
90$38,413,985$5,705,217$2,691,527$28,510,558
91$42,187,877$5,840,439$2,637,359$31,159,719
92$46,342,160$5,977,739$2,576,830$34,072,738
93$50,915,490$6,117,078$2,509,583$37,276,398
94$55,950,462$6,258,407$2,435,247$40,800,211
95$61,494,012$6,401,671$2,353,430$44,676,702
96$67,597,856$6,546,808$2,263,725$48,941,708
97$74,318,983$6,693,748$2,165,705$53,634,724
98$81,720,189$6,842,411$2,058,926$58,799,270
99$89,870,669$6,992,710$1,942,921$64,483,307
100$98,846,671$7,144,547$1,817,203$70,739,683