Can I retire at age 60 with 12,400,000?

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 $12,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$1,023,980$1,014,859$1,005,960$997,275$988,793$982,150
2 years$506,921$497,480$488,330$479,459$470,854$464,154
3 years$334,590$325,109$315,982$307,194$298,729$292,180
4 years$248,442$238,989$229,954$221,316$213,056$206,708
5 years$196,766$187,371$178,454$169,992$161,962$155,834
6 years$162,327$153,002$144,217$135,944$128,155$122,255
7 years$137,738$128,491$119,845$111,767$104,224$98,555
8 years$119,304$110,140$101,638$93,759$86,464$81,025
9 years$104,974$95,897$87,541$79,861$72,815$67,606
10 years$93,517$84,529$76,320$68,841$62,042$57,059
11 years$84,149$75,251$67,191$59,913$53,358$48,598
12 years$76,348$67,541$59,630$52,551$46,239$41,698
13 years$69,752$61,037$53,276$46,395$40,322$35,995
14 years$64,103$55,481$47,869$41,184$35,346$31,228
15 years$59,212$50,683$43,219$36,729$31,121$27,207
16 years$54,937$46,501$39,184$32,887$27,505$23,788
17 years$51,168$42,826$35,656$29,549$24,388$20,863
18 years$47,822$39,573$32,549$26,629$21,684$18,345
19 years$44,832$36,676$29,797$24,062$19,328$16,168
20 years$42,144$34,081$27,347$21,793$17,264$14,277
21 years$39,715$31,745$25,154$19,778$15,449$12,628
22 years$37,510$29,633$23,183$17,983$13,848$11,187
23 years$35,499$27,715$21,405$16,377$12,431$9,923
24 years$33,659$25,967$19,796$14,937$11,173$8,811
25 years$31,969$24,369$18,335$13,641$10,054$7,833
26 years$30,411$22,903$17,005$12,473$9,056$6,969
27 years$28,972$21,554$15,791$11,417$8,165$6,205
28 years$27,637$20,310$14,680$10,460$7,368$5,529
29 years$26,397$19,160$13,661$9,592$6,653$4,929
30 years$25,241$18,095$12,724$8,803$6,011$4,397
31 years$24,162$17,106$11,863$8,085$5,435$3,924
32 years$23,153$16,186$11,068$7,431$4,916$3,504
33 years$22,207$15,328$10,334$6,833$4,449$3,130
34 years$21,318$14,527$9,656$6,287$4,028$2,796
35 years$20,482$13,779$9,027$5,787$3,648$2,499
36 years$19,694$13,078$8,445$5,330$3,306$2,234
37 years$18,951$12,421$7,904$4,911$2,996$1,998
38 years$18,248$11,805$7,402$4,527$2,716$1,787
39 years$17,583$11,225$6,935$4,174$2,463$1,599
40 years$16,953$10,680$6,500$3,850$2,234$1,430
41 years$16,355$10,166$6,095$3,552$2,027$1,280
42 years$15,787$9,682$5,717$3,278$1,839$1,146
43 years$15,247$9,225$5,365$3,026$1,669$1,026
44 years$14,733$8,793$5,036$2,794$1,515$918
45 years$14,243$8,385$4,729$2,580$1,375$822
46 years$13,776$7,999$4,441$2,383$1,249$736
47 years$13,330$7,634$4,172$2,202$1,134$659
48 years$12,904$7,287$3,921$2,035$1,030$590
49 years$12,497$6,959$3,685$1,880$935$529
50 years$12,107$6,648$3,465$1,738$850$473

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $12,400,000, adding $2,991 every year, while hoping to spend $33,852 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: 59/14/27 Blend
59$12,400,000$12,400,000$12,400,000$12,400,000
60$13,667,885$13,010,685$12,818,485$14,374,034
61$15,025,991$13,612,191$13,211,886$15,458,137
62$16,521,490$14,242,035$13,617,332$16,636,202
63$18,168,358$14,901,572$14,035,189$17,920,513
64$19,982,000$15,592,218$14,465,838$19,321,398
65$21,979,389$16,315,461$14,909,668$20,850,218
66$24,179,227$17,072,859$15,367,081$22,519,477
67$26,602,123$17,866,044$15,838,494$24,342,929
68$29,270,788$18,696,729$16,324,332$26,335,711
69$32,210,247$19,566,708$16,825,036$28,514,480
70$35,448,077$20,477,861$17,341,059$30,897,568
71$39,014,666$21,432,161$17,872,870$33,505,155
72$42,943,500$22,431,675$18,420,949$36,359,449
73$47,271,479$23,478,569$18,985,792$39,484,899
74$52,039,265$24,575,114$19,567,912$42,908,420
75$57,291,668$25,723,693$20,167,835$46,659,642
76$63,078,064$26,926,800$20,786,104$50,771,188
77$69,452,867$28,187,053$21,423,278$55,278,975
78$76,476,035$29,507,195$22,079,934$60,222,553
79$84,213,645$30,890,101$22,756,665$65,645,471
80$92,738,508$32,338,787$23,454,085$71,595,682
81$102,130,861$33,856,413$24,172,822$78,125,997
82$112,479,125$35,446,294$24,913,528$85,294,572
83$123,880,736$37,111,902$25,676,871$93,165,455
84$136,443,066$38,856,881$26,463,542$101,809,186
85$150,284,439$40,685,048$27,274,250$111,303,455
86$165,535,243$42,600,407$28,109,729$121,733,830
87$182,339,166$44,607,155$28,970,733$133,194,562
88$200,854,548$46,709,692$29,858,040$145,789,463
89$221,255,877$48,912,632$30,772,450$159,632,884
90$243,735,439$51,220,813$31,714,788$174,850,786
91$268,505,126$53,639,306$32,685,907$191,581,919
92$295,798,445$56,173,428$33,686,681$209,979,130
93$325,872,715$58,828,755$34,718,013$230,210,794
94$359,011,500$61,611,131$35,780,834$252,462,397
95$395,527,283$64,526,687$36,876,103$276,938,277
96$435,764,420$67,581,849$38,004,806$303,863,546
97$480,102,385$70,783,354$39,167,961$333,486,206
98$528,959,358$74,138,267$40,366,617$366,079,477
99$582,796,167$77,653,997$41,601,853$401,944,372
100$642,120,644$81,338,311$42,874,783$441,412,524