Can I retire at age 60 with 2,640,000?

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 $2,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$218,009$216,067$214,172$212,323$210,517$205,762
2 years$107,925$105,915$103,967$102,078$100,246$95,481
3 years$71,235$69,217$67,274$65,403$63,600$58,974
4 years$52,894$50,882$48,958$47,119$45,360$40,908
5 years$41,892$39,892$37,993$36,192$34,482$30,217
6 years$34,560$32,575$30,704$28,943$27,285$23,211
7 years$29,325$27,356$25,515$23,796$22,190$18,308
8 years$25,400$23,449$21,639$19,961$18,408$14,717
9 years$22,349$20,417$18,638$17,003$15,503$11,999
10 years$19,910$17,996$16,249$14,657$13,209$9,890
11 years$17,916$16,021$14,305$12,756$11,360$8,220
12 years$16,255$14,380$12,695$11,188$9,844$6,879
13 years$14,850$12,995$11,343$9,878$8,585$5,788
14 years$13,648$11,812$10,191$8,768$7,525$4,893
15 years$12,606$10,791$9,201$7,820$6,626$4,150
16 years$11,696$9,900$8,342$7,002$5,856$3,532
17 years$10,894$9,118$7,591$6,291$5,192$3,013
18 years$10,181$8,425$6,930$5,669$4,617$2,576
19 years$9,545$7,808$6,344$5,123$4,115$2,206
20 years$8,973$7,256$5,822$4,640$3,676$1,893
21 years$8,455$6,759$5,355$4,211$3,289$1,626
22 years$7,986$6,309$4,936$3,829$2,948$1,398
23 years$7,558$5,901$4,557$3,487$2,647$1,203
24 years$7,166$5,528$4,215$3,180$2,379$1,037
25 years$6,806$5,188$3,904$2,904$2,141$894
26 years$6,475$4,876$3,620$2,656$1,928$771
27 years$6,168$4,589$3,362$2,431$1,738$665
28 years$5,884$4,324$3,125$2,227$1,569$574
29 years$5,620$4,079$2,908$2,042$1,416$496
30 years$5,374$3,852$2,709$1,874$1,280$429
31 years$5,144$3,642$2,526$1,721$1,157$370
32 years$4,929$3,446$2,356$1,582$1,047$320
33 years$4,728$3,263$2,200$1,455$947$277
34 years$4,539$3,093$2,056$1,339$858$239
35 years$4,361$2,934$1,922$1,232$777$207
36 years$4,193$2,784$1,798$1,135$704$179
37 years$4,035$2,645$1,683$1,046$638$155
38 years$3,885$2,513$1,576$964$578$134
39 years$3,743$2,390$1,476$889$524$116
40 years$3,609$2,274$1,384$820$476$100
41 years$3,482$2,164$1,298$756$432$87
42 years$3,361$2,061$1,217$698$392$75
43 years$3,246$1,964$1,142$644$355$65
44 years$3,137$1,872$1,072$595$323$56
45 years$3,032$1,785$1,007$549$293$49
46 years$2,933$1,703$946$507$266$42
47 years$2,838$1,625$888$469$241$37
48 years$2,747$1,551$835$433$219$32
49 years$2,661$1,482$785$400$199$27
50 years$2,578$1,415$738$370$181$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,640,000, adding $6,378 every year, while hoping to spend $25,637 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: 61/29/10 Blend
59$2,640,000$2,640,000$2,640,000$2,640,000
60$2,915,859$2,775,939$2,735,019$3,086,706
61$3,185,999$2,884,682$2,799,364$3,310,732
62$3,482,834$2,997,895$2,865,006$3,551,563
63$3,809,060$3,115,769$2,931,961$3,813,708
64$4,167,647$3,238,504$3,000,244$4,099,224
65$4,561,866$3,366,310$3,069,872$4,410,378
66$4,995,324$3,499,406$3,140,860$4,749,660
67$5,471,990$3,638,021$3,213,222$5,119,811
68$5,996,242$3,782,392$3,286,974$5,523,848
69$6,572,899$3,932,771$3,362,128$5,965,087
70$7,207,275$4,089,416$3,438,699$6,447,182
71$7,905,221$4,252,601$3,516,699$6,974,150
72$8,673,185$4,422,611$3,596,141$7,550,413
73$9,518,274$4,599,743$3,677,035$8,180,841
74$10,448,315$4,784,307$3,759,393$8,870,790
75$11,471,934$4,976,629$3,843,224$9,626,160
76$12,598,635$5,177,048$3,928,536$10,453,444
77$13,838,893$5,385,920$4,015,338$11,359,791
78$15,204,245$5,603,615$4,103,637$12,353,071
79$16,707,407$5,830,521$4,193,438$13,441,951
80$18,362,390$6,067,045$4,284,746$14,635,973
81$20,184,633$6,313,609$4,377,564$15,945,644
82$22,191,146$6,570,656$4,471,893$17,382,536
83$24,400,676$6,838,651$4,567,735$18,959,389
84$26,833,878$7,118,078$4,665,087$20,690,238
85$29,513,513$7,409,444$4,763,947$22,590,535
86$32,464,662$7,713,277$4,864,310$24,677,303
87$35,714,962$8,030,133$4,966,169$26,969,286
88$39,294,869$8,360,590$5,069,516$29,487,134
89$43,237,941$8,705,254$5,174,340$32,253,588
90$47,581,159$9,064,759$5,280,628$35,293,699
91$52,365,273$9,439,768$5,388,365$38,635,061
92$57,635,187$9,830,974$5,497,532$42,308,068
93$63,440,386$10,239,101$5,608,109$46,346,202
94$69,835,397$10,664,908$5,720,072$50,786,348
95$76,880,308$11,109,189$5,833,395$55,669,135
96$84,641,333$11,572,773$5,948,048$61,039,325
97$93,191,439$12,056,529$6,063,997$66,946,227
98$102,611,032$12,561,365$6,181,207$73,444,164
99$112,988,715$13,088,230$6,299,636$80,592,984
100$124,422,131$13,638,120$6,419,240$88,458,620