Can I retire at age 60 with 2,840,000?

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 $2,840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$234,525$232,436$230,397$228,408$226,466$218,953
2 years$116,101$113,939$111,843$109,812$107,841$100,345
3 years$76,632$74,460$72,370$70,357$68,419$61,175
4 years$56,901$54,736$52,667$50,689$48,797$41,861
5 years$45,066$42,914$40,872$38,934$37,094$30,484
6 years$37,178$35,042$33,030$31,136$29,352$23,073
7 years$31,546$29,429$27,448$25,598$23,871$17,922
8 years$27,324$25,226$23,278$21,474$19,803$14,181
9 years$24,042$21,964$20,050$18,291$16,677$11,374
10 years$21,418$19,360$17,480$15,767$14,210$9,218
11 years$19,273$17,235$15,389$13,722$12,221$7,530
12 years$17,486$15,469$13,657$12,036$10,590$6,191
13 years$15,975$13,980$12,202$10,626$9,235$5,115
14 years$14,682$12,707$10,963$9,433$8,095$4,244
15 years$13,561$11,608$9,899$8,412$7,128$3,532
16 years$12,582$10,650$8,974$7,532$6,300$2,948
17 years$11,719$9,808$8,166$6,768$5,586$2,466
18 years$10,953$9,063$7,455$6,099$4,966$2,067
19 years$10,268$8,400$6,825$5,511$4,427$1,735
20 years$9,652$7,806$6,263$4,991$3,954$1,458
21 years$9,096$7,271$5,761$4,530$3,538$1,226
22 years$8,591$6,787$5,310$4,119$3,172$1,033
23 years$8,131$6,348$4,903$3,751$2,847$870
24 years$7,709$5,947$4,534$3,421$2,559$734
25 years$7,322$5,581$4,199$3,124$2,303$619
26 years$6,965$5,245$3,895$2,857$2,074$522
27 years$6,635$4,937$3,617$2,615$1,870$441
28 years$6,330$4,652$3,362$2,396$1,687$373
29 years$6,046$4,388$3,129$2,197$1,524$315
30 years$5,781$4,144$2,914$2,016$1,377$266
31 years$5,534$3,918$2,717$1,852$1,245$225
32 years$5,303$3,707$2,535$1,702$1,126$190
33 years$5,086$3,511$2,367$1,565$1,019$161
34 years$4,882$3,327$2,211$1,440$923$136
35 years$4,691$3,156$2,068$1,326$836$115
36 years$4,511$2,995$1,934$1,221$757$97
37 years$4,340$2,845$1,810$1,125$686$82
38 years$4,179$2,704$1,695$1,037$622$69
39 years$4,027$2,571$1,588$956$564$59
40 years$3,883$2,446$1,489$882$512$50
41 years$3,746$2,328$1,396$813$464$42
42 years$3,616$2,217$1,309$751$421$36
43 years$3,492$2,113$1,229$693$382$30
44 years$3,374$2,014$1,153$640$347$25
45 years$3,262$1,920$1,083$591$315$22
46 years$3,155$1,832$1,017$546$286$18
47 years$3,053$1,748$956$504$260$15
48 years$2,955$1,669$898$466$236$13
49 years$2,862$1,594$844$431$214$11
50 years$2,773$1,522$794$398$195$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,840,000, adding $6,198 every year, while hoping to spend $37,557 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: 60/13/27 Blend
59$2,840,000$2,840,000$2,840,000$2,840,000
60$3,136,073$2,985,553$2,941,533$3,301,042
61$3,415,992$3,091,885$3,000,114$3,520,523
62$3,723,204$3,202,168$3,059,399$3,755,330
63$4,060,454$3,316,557$3,119,371$4,010,753
64$4,430,763$3,435,211$3,180,013$4,288,807
65$4,837,463$3,558,299$3,241,306$4,591,712
66$5,284,221$3,685,992$3,303,226$4,921,909
67$5,775,078$3,818,472$3,365,751$5,282,090
68$6,314,487$3,955,928$3,428,854$5,675,217
69$6,907,351$4,098,555$3,492,507$6,104,551
70$7,559,074$4,246,558$3,556,680$6,573,684
71$8,275,609$4,400,148$3,621,338$7,086,572
72$9,063,514$4,559,549$3,686,446$7,647,572
73$9,930,015$4,724,989$3,751,964$8,261,481
74$10,883,073$4,896,710$3,817,851$8,933,586
75$11,931,458$5,074,961$3,884,061$9,669,707
76$13,084,836$5,260,003$3,950,547$10,476,256
77$14,353,854$5,452,108$4,017,255$11,360,296
78$15,750,245$5,651,558$4,084,130$12,329,608
79$17,286,934$5,858,649$4,151,113$13,392,763
80$18,978,166$6,073,688$4,218,140$14,559,202
81$20,839,635$6,296,994$4,285,143$15,839,328
82$22,888,633$6,528,902$4,352,051$17,244,601
83$25,144,214$6,769,759$4,418,785$18,787,643
84$27,627,374$7,019,928$4,485,265$20,482,366
85$30,361,248$7,279,786$4,551,403$22,344,093
86$33,371,327$7,549,727$4,617,107$24,389,706
87$36,685,702$7,830,162$4,682,279$26,637,809
88$40,335,322$8,121,520$4,746,814$29,108,895
89$44,354,297$8,424,245$4,810,604$31,825,546
90$48,780,207$8,738,805$4,873,531$34,812,644
91$53,654,465$9,065,684$4,935,471$38,097,601
92$59,022,706$9,405,388$4,996,295$41,710,625
93$64,935,216$9,758,446$5,055,865$45,684,997
94$71,447,405$10,125,407$5,114,034$50,057,392
95$78,620,335$10,506,847$5,170,649$54,868,216
96$86,521,291$10,903,364$5,225,547$60,161,997
97$95,224,417$11,315,583$5,278,557$65,987,796
98$104,811,418$11,744,157$5,329,499$72,399,675
99$115,372,327$12,189,765$5,378,182$79,457,205
100$127,006,359$12,653,118$5,424,405$87,226,025