Can I retire at age 60 with 16,000,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $16,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$1,321,265$1,309,496$1,298,013$1,286,806$1,275,862$1,266,760
2 years$654,092$641,910$630,104$618,657$607,554$598,375
3 years$431,730$419,495$407,719$396,379$385,457$376,487
4 years$320,570$308,373$296,715$285,569$274,911$266,218
5 years$253,892$241,768$230,263$219,344$208,983$200,593
6 years$209,455$197,422$186,087$175,411$165,361$157,284
7 years$177,726$165,795$154,639$144,215$134,483$126,723
8 years$153,940$142,117$131,146$120,979$111,567$104,124
9 years$135,450$123,738$112,956$103,047$93,955$86,828
10 years$120,667$109,069$98,478$88,828$80,054$73,239
11 years$108,579$97,098$86,698$77,307$68,850$62,341
12 years$98,513$87,150$76,942$67,808$59,664$53,456
13 years$90,002$78,758$68,743$59,865$52,028$46,115
14 years$82,714$71,589$61,766$53,141$45,607$39,981
15 years$76,403$65,398$55,766$47,392$40,156$34,810
16 years$70,886$60,001$50,560$42,435$35,490$30,416
17 years$66,023$55,259$46,008$38,127$31,468$26,657
18 years$61,706$51,062$41,999$34,360$27,980$23,423
19 years$57,847$47,323$38,448$31,048$24,939$20,628
20 years$54,379$43,975$35,286$28,120$22,276$18,202
21 years$51,245$40,961$32,456$25,520$19,935$16,089
22 years$48,400$38,236$29,913$23,204$17,869$14,242
23 years$45,806$35,761$27,620$21,132$16,040$12,623
24 years$43,431$33,506$25,544$19,274$14,417$11,201
25 years$41,250$31,444$23,659$17,602$12,973$9,949
26 years$39,241$29,552$21,942$16,094$11,686$8,844
27 years$37,383$27,812$20,375$14,731$10,536$7,869
28 years$35,661$26,207$18,941$13,497$9,506$7,006
29 years$34,060$24,723$17,627$12,377$8,584$6,241
30 years$32,569$23,348$16,418$11,359$7,756$5,563
31 years$31,177$22,072$15,306$10,433$7,012$4,961
32 years$29,875$20,885$14,281$9,588$6,343$4,425
33 years$28,654$19,778$13,334$8,817$5,741$3,950
34 years$27,507$18,745$12,459$8,112$5,197$3,526
35 years$26,428$17,779$11,648$7,468$4,708$3,149
36 years$25,412$16,875$10,897$6,878$4,265$2,813
37 years$24,452$16,028$10,199$6,337$3,866$2,513
38 years$23,546$15,232$9,551$5,841$3,505$2,246
39 years$22,688$14,484$8,948$5,385$3,178$2,007
40 years$21,875$13,780$8,387$4,967$2,883$1,795
41 years$21,103$13,118$7,864$4,583$2,615$1,605
42 years$20,370$12,493$7,377$4,230$2,373$1,435
43 years$19,674$11,903$6,922$3,904$2,154$1,283
44 years$19,010$11,346$6,498$3,605$1,955$1,148
45 years$18,378$10,820$6,101$3,329$1,775$1,027
46 years$17,776$10,322$5,731$3,075$1,611$919
47 years$17,200$9,850$5,384$2,841$1,463$822
48 years$16,650$9,403$5,059$2,625$1,329$735
49 years$16,125$8,979$4,755$2,426$1,207$658
50 years$15,622$8,577$4,471$2,243$1,096$589

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $16,000,000, adding $5,548 every year, while hoping to spend $36,003 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: 66/18/16 Blend
59$16,000,000$16,000,000$16,000,000$16,000,000
60$17,637,723$16,789,723$16,541,723$18,733,377
61$19,398,464$17,574,112$17,057,564$20,250,995
62$21,337,593$18,395,730$17,589,478$21,904,557
63$23,473,270$19,256,363$18,137,968$23,711,181
64$25,825,501$20,157,882$18,703,547$25,685,860
65$28,416,335$21,102,252$19,286,750$27,845,088
66$31,270,069$22,091,530$19,888,123$30,207,015
67$34,413,475$23,127,873$20,508,234$32,791,616
68$37,876,054$24,213,544$21,147,665$35,620,870
69$41,690,317$25,350,913$21,807,017$38,718,971
70$45,892,089$26,542,467$22,486,911$42,112,546
71$50,520,846$27,790,812$23,187,987$45,830,906
72$55,620,091$29,098,681$23,910,903$49,906,316
73$61,237,762$30,468,938$24,656,340$54,374,295
74$67,426,684$31,904,586$25,424,998$59,273,950
75$74,245,070$33,408,776$26,217,600$64,648,331
76$81,757,069$34,984,808$27,034,892$70,544,844
77$90,033,371$36,636,144$27,877,641$77,015,683
78$99,151,874$38,366,413$28,746,641$84,118,321
79$109,198,419$40,179,422$29,642,707$91,916,047
80$120,267,603$42,079,159$30,566,683$100,478,555
81$132,463,669$44,069,808$31,519,438$109,882,596
82$145,901,489$46,155,755$32,501,865$120,212,697
83$160,707,653$48,341,599$33,514,890$131,561,950
84$177,021,659$50,632,162$34,559,463$144,032,882
85$194,997,230$53,032,500$35,636,567$157,738,417
86$214,803,770$55,547,915$36,747,214$172,802,933
87$236,627,956$58,183,964$37,892,448$189,363,429
88$260,675,507$60,946,478$39,073,344$207,570,805
89$287,173,120$63,841,567$40,291,013$227,591,280
90$316,370,614$66,875,640$41,546,598$249,607,953
91$348,543,287$70,055,416$42,841,279$273,822,517
92$383,994,513$73,387,942$44,176,272$300,457,154
93$423,058,607$76,880,605$45,552,831$329,756,621
94$466,103,984$80,541,154$46,972,250$361,990,549
95$513,536,631$84,377,711$48,435,861$397,455,978
96$565,803,945$88,398,796$49,945,040$436,480,142
97$623,398,951$92,613,342$51,501,203$479,423,551
98$686,864,964$97,030,714$53,105,813$526,683,377
99$756,800,707$101,660,737$54,760,375$578,697,192
100$833,865,976$106,513,709$56,466,444$635,947,076