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%17.6%
1 years$1,023,980$1,014,859$1,005,960$997,275$988,793$958,293
2 years$506,921$497,480$488,330$479,459$470,854$440,392
3 years$334,590$325,109$315,982$307,194$298,729$269,261
4 years$248,442$238,989$229,954$221,316$213,056$184,808
5 years$196,766$187,371$178,454$169,992$161,962$135,009
6 years$162,327$153,002$144,217$135,944$128,155$102,522
7 years$137,738$128,491$119,845$111,767$104,224$79,909
8 years$119,304$110,140$101,638$93,759$86,464$63,451
9 years$104,974$95,897$87,541$79,861$72,815$51,079
10 years$93,517$84,529$76,320$68,841$62,042$41,551
11 years$84,149$75,251$67,191$59,913$53,358$34,076
12 years$76,348$67,541$59,630$52,551$46,239$28,126
13 years$69,752$61,037$53,276$46,395$40,322$23,334
14 years$64,103$55,481$47,869$41,184$35,346$19,439
15 years$59,212$50,683$43,219$36,729$31,121$16,250
16 years$54,937$46,501$39,184$32,887$27,505$13,621
17 years$51,168$42,826$35,656$29,549$24,388$11,445
18 years$47,822$39,573$32,549$26,629$21,684$9,634
19 years$44,832$36,676$29,797$24,062$19,328$8,123
20 years$42,144$34,081$27,347$21,793$17,264$6,858
21 years$39,715$31,745$25,154$19,778$15,449$5,796
22 years$37,510$29,633$23,183$17,983$13,848$4,903
23 years$35,499$27,715$21,405$16,377$12,431$4,151
24 years$33,659$25,967$19,796$14,937$11,173$3,517
25 years$31,969$24,369$18,335$13,641$10,054$2,982
26 years$30,411$22,903$17,005$12,473$9,056$2,529
27 years$28,972$21,554$15,791$11,417$8,165$2,145
28 years$27,637$20,310$14,680$10,460$7,368$1,821
29 years$26,397$19,160$13,661$9,592$6,653$1,546
30 years$25,241$18,095$12,724$8,803$6,011$1,313
31 years$24,162$17,106$11,863$8,085$5,435$1,115
32 years$23,153$16,186$11,068$7,431$4,916$947
33 years$22,207$15,328$10,334$6,833$4,449$805
34 years$21,318$14,527$9,656$6,287$4,028$684
35 years$20,482$13,779$9,027$5,787$3,648$581
36 years$19,694$13,078$8,445$5,330$3,306$494
37 years$18,951$12,421$7,904$4,911$2,996$420
38 years$18,248$11,805$7,402$4,527$2,716$357
39 years$17,583$11,225$6,935$4,174$2,463$303
40 years$16,953$10,680$6,500$3,850$2,234$258
41 years$16,355$10,166$6,095$3,552$2,027$219
42 years$15,787$9,682$5,717$3,278$1,839$186
43 years$15,247$9,225$5,365$3,026$1,669$158
44 years$14,733$8,793$5,036$2,794$1,515$135
45 years$14,243$8,385$4,729$2,580$1,375$115
46 years$13,776$7,999$4,441$2,383$1,249$97
47 years$13,330$7,634$4,172$2,202$1,134$83
48 years$12,904$7,287$3,921$2,035$1,030$70
49 years$12,497$6,959$3,685$1,880$935$60
50 years$12,107$6,648$3,465$1,738$850$51

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 $6,112 every year, while hoping to spend $36,947 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: 57/20/23 Blend
59$12,400,000$12,400,000$12,400,000$12,400,000
60$13,671,105$13,013,905$12,821,705$14,364,991
61$15,026,246$13,612,275$13,211,920$15,437,954
62$16,518,373$14,238,726$13,613,970$16,602,312
63$18,161,420$14,894,597$14,028,211$17,870,541
64$19,970,741$15,581,288$14,455,012$19,252,668
65$21,963,253$16,300,267$14,894,751$20,759,717
66$24,157,599$17,053,075$15,347,820$22,403,816
67$26,574,323$17,841,324$15,814,620$24,198,301
68$29,236,061$18,666,706$16,295,567$26,157,847
69$32,167,758$19,530,993$16,791,087$28,298,594
70$35,396,900$20,436,043$17,301,620$30,638,304
71$38,953,779$21,383,804$17,827,619$33,196,518
72$42,871,770$22,376,316$18,369,550$35,994,741
73$47,187,654$23,415,720$18,927,894$39,056,641
74$51,941,963$24,504,257$19,503,146$42,408,263
75$57,179,357$25,644,280$20,095,815$46,078,278
76$62,949,054$26,838,253$20,706,428$50,098,241
77$69,305,288$28,088,758$21,335,524$54,502,890
78$76,307,825$29,398,504$21,983,661$59,330,467
79$84,022,522$30,770,329$22,651,412$64,623,073
80$92,521,954$32,207,210$23,339,369$70,427,058
81$101,886,095$33,712,266$24,048,141$76,793,458
82$112,203,077$35,288,767$24,778,353$83,778,466
83$123,570,016$36,940,142$25,530,653$91,443,959
84$136,093,933$38,669,983$26,305,705$99,858,071
85$149,892,761$40,482,061$27,104,194$109,095,838
86$165,096,464$42,380,323$27,926,825$119,239,888
87$181,848,256$44,368,911$28,774,326$130,381,223
88$200,305,957$46,452,166$29,647,445$142,620,064
89$220,643,483$48,634,640$30,546,953$156,066,795
90$243,052,485$50,921,105$31,473,643$170,842,988
91$267,744,161$53,316,562$32,428,333$187,082,549
92$294,951,249$55,826,257$33,411,865$204,932,971
93$324,930,221$58,455,688$34,425,107$224,556,715
94$357,963,707$61,210,621$35,468,952$246,132,734
95$394,363,163$64,097,099$36,544,320$269,858,152
96$434,471,809$67,121,460$37,652,158$295,950,116
97$478,667,871$70,290,348$38,793,442$324,647,829
98$527,368,148$73,610,730$39,969,177$356,214,801
99$581,031,953$77,089,909$41,180,398$390,941,324
100$640,165,442$80,735,545$42,428,171$429,147,194