Can I retire at age 60 with 2,820,000?

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 $2,820,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$232,873$230,799$228,775$226,800$224,871$219,079
2 years$115,284$113,137$111,056$109,038$107,081$101,285
3 years$76,092$73,936$71,860$69,862$67,937$62,317
4 years$56,501$54,351$52,296$50,332$48,453$43,053
5 years$44,748$42,612$40,584$38,659$36,833$31,668
6 years$36,916$34,796$32,798$30,916$29,145$24,219
7 years$31,324$29,221$27,255$25,418$23,703$19,017
8 years$27,132$25,048$23,114$21,323$19,664$15,216
9 years$23,873$21,809$19,909$18,162$16,560$12,346
10 years$21,267$19,223$17,357$15,656$14,110$10,125
11 years$19,137$17,113$15,281$13,625$12,135$8,373
12 years$17,363$15,360$13,561$11,951$10,516$6,971
13 years$15,863$13,881$12,116$10,551$9,170$5,834
14 years$14,578$12,618$10,886$9,366$8,038$4,904
15 years$13,466$11,526$9,829$8,353$7,078$4,137
16 years$12,494$10,575$8,911$7,479$6,255$3,500
17 years$11,637$9,739$8,109$6,720$5,546$2,969
18 years$10,876$9,000$7,402$6,056$4,931$2,524
19 years$10,196$8,341$6,777$5,472$4,396$2,149
20 years$9,584$7,751$6,219$4,956$3,926$1,832
21 years$9,032$7,219$5,720$4,498$3,513$1,564
22 years$8,530$6,739$5,272$4,090$3,149$1,337
23 years$8,073$6,303$4,868$3,725$2,827$1,143
24 years$7,655$5,905$4,502$3,397$2,541$979
25 years$7,270$5,542$4,170$3,102$2,287$838
26 years$6,916$5,209$3,867$2,837$2,060$718
27 years$6,589$4,902$3,591$2,596$1,857$616
28 years$6,285$4,619$3,338$2,379$1,676$528
29 years$6,003$4,357$3,107$2,181$1,513$453
30 years$5,740$4,115$2,894$2,002$1,367$389
31 years$5,495$3,890$2,698$1,839$1,236$334
32 years$5,265$3,681$2,517$1,690$1,118$287
33 years$5,050$3,486$2,350$1,554$1,012$246
34 years$4,848$3,304$2,196$1,430$916$212
35 years$4,658$3,134$2,053$1,316$830$182
36 years$4,479$2,974$1,921$1,212$752$156
37 years$4,310$2,825$1,798$1,117$681$134
38 years$4,150$2,685$1,683$1,029$618$115
39 years$3,999$2,553$1,577$949$560$99
40 years$3,855$2,429$1,478$875$508$85
41 years$3,719$2,312$1,386$808$461$73
42 years$3,590$2,202$1,300$745$418$63
43 years$3,467$2,098$1,220$688$380$54
44 years$3,351$2,000$1,145$635$345$47
45 years$3,239$1,907$1,075$587$313$40
46 years$3,133$1,819$1,010$542$284$34
47 years$3,032$1,736$949$501$258$30
48 years$2,935$1,657$892$463$234$25
49 years$2,842$1,583$838$428$213$22
50 years$2,753$1,512$788$395$193$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,820,000, adding $6,717 every year, while hoping to spend $46,901 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: 64/20/16 Blend
59$2,820,000$2,820,000$2,820,000$2,820,000
60$3,114,569$2,965,109$2,921,399$3,301,248
61$3,382,352$3,060,497$2,969,363$3,522,626
62$3,675,878$3,158,987$3,017,363$3,758,370
63$3,997,722$3,260,681$3,065,349$4,014,761
64$4,350,721$3,365,687$3,113,270$4,293,814
65$4,738,002$3,474,112$3,161,071$4,597,745
66$5,163,005$3,586,070$3,208,694$4,928,999
67$5,629,523$3,701,679$3,256,076$5,290,262
68$6,141,732$3,821,060$3,303,153$5,684,496
69$6,704,234$3,944,337$3,349,854$6,114,960
70$7,322,096$4,071,640$3,396,104$6,585,244
71$8,000,902$4,203,102$3,441,826$7,099,301
72$8,746,803$4,338,863$3,486,936$7,661,485
73$9,566,575$4,479,065$3,531,346$8,276,589
74$10,467,683$4,623,857$3,574,964$8,949,896
75$11,458,351$4,773,391$3,617,690$9,687,221
76$12,547,641$4,927,825$3,659,420$10,494,972
77$13,745,536$5,087,323$3,700,046$11,380,205
78$15,063,033$5,252,055$3,739,451$12,350,694
79$16,512,253$5,422,196$3,777,512$13,415,003
80$18,106,545$5,597,926$3,814,102$14,582,565
81$19,860,622$5,779,434$3,849,083$15,863,773
82$21,790,692$5,966,912$3,882,314$17,270,076
83$23,914,613$6,160,562$3,913,642$18,814,086
84$26,252,065$6,360,591$3,942,911$20,509,700
85$28,824,729$6,567,213$3,969,952$22,372,228
86$31,656,496$6,780,651$3,994,589$24,418,536
87$34,773,690$7,001,134$4,016,639$26,667,208
88$38,205,317$7,228,900$4,035,907$29,138,721
89$41,983,338$7,464,195$4,052,189$31,855,633
90$46,142,971$7,707,274$4,065,270$34,842,801
91$50,723,023$7,958,399$4,074,925$38,127,614
92$55,766,255$8,217,843$4,080,919$41,740,247
93$61,319,784$8,485,890$4,083,001$45,713,952
94$67,435,533$8,762,829$4,080,913$50,085,365
95$74,170,715$9,048,964$4,074,380$54,894,856
96$81,588,372$9,344,608$4,063,116$60,186,908
97$89,757,976$9,650,084$4,046,821$66,010,535
98$98,756,079$9,965,728$4,025,178$72,419,746
99$108,667,036$10,291,885$3,997,859$79,474,055
100$119,583,803$10,628,917$3,964,516$87,239,039