Can I retire at age 60 with 2,880,000?

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 $2,880,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$237,828$235,709$233,642$231,625$229,655$224,560
2 years$117,736$115,544$113,419$111,358$109,360$104,252
3 years$77,711$75,509$73,389$71,348$69,382$64,423
4 years$57,703$55,507$53,409$51,402$49,484$44,711
5 years$45,701$43,518$41,447$39,482$37,617$33,043
6 years$37,702$35,536$33,496$31,574$29,765$25,395
7 years$31,991$29,843$27,835$25,959$24,207$20,042
8 years$27,709$25,581$23,606$21,776$20,082$16,121
9 years$24,381$22,273$20,332$18,548$16,912$13,151
10 years$21,720$19,632$17,726$15,989$14,410$10,846
11 years$19,544$17,478$15,606$13,915$12,393$9,021
12 years$17,732$15,687$13,850$12,205$10,739$7,554
13 years$16,200$14,176$12,374$10,776$9,365$6,361
14 years$14,888$12,886$11,118$9,565$8,209$5,380
15 years$13,752$11,772$10,038$8,531$7,228$4,567
16 years$12,759$10,800$9,101$7,638$6,388$3,889
17 years$11,884$9,947$8,281$6,863$5,664$3,320
18 years$11,107$9,191$7,560$6,185$5,036$2,841
19 years$10,413$8,518$6,921$5,589$4,489$2,435
20 years$9,788$7,916$6,351$5,062$4,010$2,090
21 years$9,224$7,373$5,842$4,594$3,588$1,797
22 years$8,712$6,882$5,384$4,177$3,216$1,546
23 years$8,245$6,437$4,972$3,804$2,887$1,332
24 years$7,818$6,031$4,598$3,469$2,595$1,148
25 years$7,425$5,660$4,259$3,168$2,335$991
26 years$7,063$5,319$3,950$2,897$2,103$855
27 years$6,729$5,006$3,668$2,652$1,896$739
28 years$6,419$4,717$3,409$2,429$1,711$638
29 years$6,131$4,450$3,173$2,228$1,545$552
30 years$5,862$4,203$2,955$2,045$1,396$477
31 years$5,612$3,973$2,755$1,878$1,262$413
32 years$5,377$3,759$2,571$1,726$1,142$357
33 years$5,158$3,560$2,400$1,587$1,033$309
34 years$4,951$3,374$2,243$1,460$936$267
35 years$4,757$3,200$2,097$1,344$847$231
36 years$4,574$3,038$1,961$1,238$768$200
37 years$4,401$2,885$1,836$1,141$696$174
38 years$4,238$2,742$1,719$1,051$631$150
39 years$4,084$2,607$1,611$969$572$130
40 years$3,937$2,480$1,510$894$519$113
41 years$3,799$2,361$1,416$825$471$98
42 years$3,667$2,249$1,328$761$427$85
43 years$3,541$2,143$1,246$703$388$73
44 years$3,422$2,042$1,170$649$352$63
45 years$3,308$1,948$1,098$599$319$55
46 years$3,200$1,858$1,031$554$290$48
47 years$3,096$1,773$969$511$263$41
48 years$2,997$1,693$911$473$239$36
49 years$2,902$1,616$856$437$217$31
50 years$2,812$1,544$805$404$197$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $2,880,000, adding $2,448 every year, while hoping to spend $55,675 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: 43/36/21 Blend
59$2,880,000$2,880,000$2,880,000$2,880,000
60$3,176,285$3,023,645$2,979,005$3,293,339
61$3,441,028$3,112,566$3,019,564$3,465,406
62$3,730,910$3,203,978$3,059,616$3,646,110
63$4,048,434$3,297,944$3,099,084$3,840,756
64$4,396,360$3,394,530$3,137,890$4,050,657
65$4,777,727$3,493,800$3,175,947$4,277,260
66$5,195,881$3,595,822$3,213,167$4,522,157
67$5,654,507$3,700,664$3,249,455$4,787,099
68$6,157,666$3,808,395$3,284,711$5,074,015
69$6,709,829$3,919,087$3,318,829$5,385,029
70$7,315,921$4,032,812$3,351,699$5,722,476
71$7,981,367$4,149,642$3,383,203$6,088,931
72$8,712,144$4,269,652$3,413,218$6,487,226
73$9,514,836$4,392,918$3,441,615$6,920,483
74$10,396,695$4,519,517$3,468,255$7,392,137
75$11,365,711$4,649,527$3,492,994$7,905,973
76$12,430,687$4,783,026$3,515,682$8,466,158
77$13,601,318$4,920,096$3,536,159$9,077,285
78$14,888,289$5,060,817$3,554,257$9,744,408
79$16,303,370$5,205,273$3,569,800$10,473,101
80$17,859,528$5,353,545$3,582,602$11,269,497
81$19,571,050$5,505,719$3,592,470$12,140,358
82$21,453,677$5,661,880$3,599,198$13,093,131
83$23,524,754$5,822,114$3,602,573$14,136,020
84$25,803,389$5,986,507$3,602,369$15,278,064
85$28,310,636$6,155,148$3,598,350$16,529,222
86$31,069,695$6,328,124$3,590,268$17,900,468
87$34,106,126$6,505,524$3,577,864$19,403,890
88$37,448,094$6,687,437$3,560,866$21,052,809
89$41,126,631$6,873,953$3,538,986$22,861,904
90$45,175,932$7,065,162$3,511,927$24,847,346
91$49,633,675$7,261,153$3,479,375$27,026,955
92$54,541,377$7,462,016$3,441,000$29,420,368
93$59,944,783$7,667,841$3,396,460$32,049,222
94$65,894,303$7,878,717$3,345,394$34,937,359
95$72,445,482$8,094,734$3,287,424$38,111,051
96$79,659,524$8,315,979$3,222,156$41,599,250
97$87,603,874$8,542,540$3,149,176$45,433,857
98$96,352,848$8,774,503$3,068,053$49,650,029
99$105,988,339$9,011,955$2,978,333$54,286,504
100$116,600,586$9,254,977$2,879,544$59,385,974