Can I retire at age 60 with 16,700,000?

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 $16,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$1,379,070$1,366,786$1,354,802$1,343,104$1,331,681$1,294,764
2 years$682,708$669,993$657,671$645,723$634,134$597,216
3 years$450,618$437,848$425,556$413,721$402,321$366,558
4 years$334,595$321,865$309,696$298,063$286,938$252,605
5 years$265,000$252,346$240,337$228,941$218,126$185,317
6 years$218,618$206,059$194,228$183,086$172,596$141,342
7 years$185,501$173,048$161,404$150,525$140,367$110,668
8 years$160,675$148,334$136,884$126,272$116,448$88,289
9 years$141,376$129,152$117,898$107,555$98,066$71,421
10 years$125,946$113,841$102,786$92,714$83,557$58,390
11 years$113,329$101,346$90,491$80,689$71,862$48,133
12 years$102,823$90,963$80,309$70,775$62,274$39,939
13 years$93,940$82,204$71,750$62,484$54,304$33,314
14 years$86,333$74,721$64,468$55,466$47,603$27,908
15 years$79,745$68,259$58,206$49,466$41,913$23,461
16 years$73,987$62,626$52,772$44,291$37,043$19,779
17 years$68,912$57,676$48,021$39,795$32,845$16,716
18 years$64,405$53,296$43,837$35,864$29,204$14,155
19 years$60,378$49,394$40,130$32,406$26,030$12,007
20 years$56,758$45,899$36,830$29,350$23,251$10,199
21 years$53,487$42,753$33,876$26,637$20,807$8,673
22 years$50,517$39,909$31,222$24,219$18,650$7,383
23 years$47,810$37,326$28,828$22,057$16,742$6,291
24 years$45,332$34,972$26,661$20,117$15,048$5,364
25 years$43,055$32,819$24,694$18,372$13,541$4,576
26 years$40,957$30,845$22,902$16,798$12,197$3,906
27 years$39,018$29,029$21,267$15,376$10,997$3,335
28 years$37,221$27,353$19,770$14,088$9,922$2,849
29 years$35,550$25,805$18,398$12,919$8,960$2,435
30 years$33,994$24,370$17,137$11,856$8,096$2,081
31 years$32,541$23,038$15,976$10,889$7,319$1,780
32 years$31,182$21,798$14,906$10,007$6,621$1,522
33 years$29,907$20,643$13,918$9,202$5,992$1,302
34 years$28,710$19,565$13,004$8,467$5,425$1,113
35 years$27,584$18,557$12,158$7,794$4,914$953
36 years$26,523$17,614$11,373$7,178$4,452$815
37 years$25,522$16,729$10,645$6,614$4,035$697
38 years$24,576$15,898$9,969$6,096$3,658$597
39 years$23,680$15,118$9,340$5,621$3,317$511
40 years$22,832$14,383$8,754$5,185$3,009$437
41 years$22,026$13,692$8,209$4,783$2,730$374
42 years$21,262$13,039$7,700$4,415$2,477$320
43 years$20,534$12,424$7,225$4,075$2,248$274
44 years$19,842$11,843$6,782$3,763$2,040$235
45 years$19,182$11,293$6,368$3,475$1,852$201
46 years$18,553$10,773$5,981$3,210$1,682$172
47 years$17,953$10,281$5,619$2,966$1,527$147
48 years$17,379$9,814$5,281$2,740$1,387$126
49 years$16,830$9,372$4,963$2,533$1,260$108
50 years$16,305$8,953$4,666$2,341$1,144$92

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $16,700,000, adding $2,538 every year, while hoping to spend $25,302 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: 54/24/22 Blend
59$16,700,000$16,700,000$16,700,000$16,700,000
60$18,406,018$17,520,918$17,262,068$19,288,802
61$20,256,511$18,352,522$17,813,426$20,726,912
62$22,294,906$19,224,026$18,382,407$22,288,762
63$24,540,342$20,137,360$18,969,573$23,988,486
64$27,013,911$21,094,544$19,575,508$25,839,276
65$29,738,853$22,097,700$20,200,811$27,855,633
66$32,740,779$23,149,050$20,846,101$30,053,499
67$36,047,911$24,250,927$21,512,018$32,450,398
68$39,691,350$25,405,773$22,199,222$35,065,605
69$43,705,365$26,616,154$22,908,394$37,920,314
70$48,127,723$27,884,757$23,640,236$41,037,833
71$53,000,041$29,214,400$24,395,474$44,443,805
72$58,368,179$30,608,039$25,174,856$48,166,433
73$64,282,674$32,068,773$25,979,154$52,236,747
74$70,799,217$33,599,854$26,809,166$56,688,887
75$77,979,178$35,204,688$27,665,714$61,560,419
76$85,890,186$36,886,849$28,549,648$66,892,680
77$94,606,767$38,650,087$29,461,843$72,731,161
78$104,211,046$40,498,330$30,403,204$79,125,930
79$114,793,525$42,435,700$31,374,663$86,132,091
80$126,453,935$44,466,520$32,377,185$93,810,300
81$139,302,178$46,595,321$33,411,762$102,227,325
82$153,459,364$48,826,856$34,479,420$111,456,666
83$169,058,958$51,166,110$35,581,219$121,579,239
84$186,248,032$53,618,310$36,718,250$132,684,130
85$205,188,661$56,188,937$37,891,642$144,869,423
86$226,059,449$58,883,740$39,102,556$158,243,113
87$249,057,216$61,708,746$40,352,195$172,924,115
88$274,398,856$64,670,279$41,641,798$189,043,372
89$302,323,384$67,774,967$42,972,643$206,745,076
90$333,094,193$71,029,765$44,346,050$226,188,018
91$367,001,540$74,441,962$45,763,382$247,547,071
92$404,365,287$78,019,208$47,226,045$271,014,821
93$445,537,917$81,769,520$48,735,488$296,803,376
94$490,907,868$85,701,310$50,293,211$325,146,343
95$540,903,194$89,823,398$51,900,757$356,301,021
96$595,995,609$94,145,034$53,559,722$390,550,810
97$656,704,940$98,675,919$55,271,751$428,207,864
98$723,604,032$103,426,227$57,038,543$469,616,022
99$797,324,160$108,406,629$58,861,851$515,154,025
100$878,560,986$113,628,315$60,743,484$565,239,079