Can I retire at age 60 with 4,700,000?

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 $4,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$388,122$384,664$381,291$377,999$374,785$362,208
2 years$192,139$188,561$185,093$181,730$178,469$165,922
3 years$126,821$123,227$119,767$116,436$113,228$101,105
4 years$94,168$90,585$87,160$83,886$80,755$69,149
5 years$74,581$71,019$67,640$64,432$61,389$50,330
6 years$61,527$57,993$54,663$51,527$48,575$38,072
7 years$52,207$48,702$45,425$42,363$39,504$29,557
8 years$45,220$41,747$38,524$35,538$32,773$23,372
9 years$39,788$36,348$33,181$30,270$27,599$18,735
10 years$35,446$32,039$28,928$26,093$23,516$15,173
11 years$31,895$28,522$25,468$22,709$20,225$12,388
12 years$28,938$25,600$22,602$19,919$17,526$10,177
13 years$26,438$23,135$20,193$17,585$15,283$8,403
14 years$24,297$21,029$18,144$15,610$13,397$6,967
15 years$22,443$19,211$16,381$13,922$11,796$5,795
16 years$20,823$17,625$14,852$12,465$10,425$4,833
17 years$19,394$16,232$13,515$11,200$9,244$4,040
18 years$18,126$14,999$12,337$10,093$8,219$3,383
19 years$16,993$13,901$11,294$9,120$7,326$2,837
20 years$15,974$12,918$10,365$8,260$6,544$2,383
21 years$15,053$12,032$9,534$7,497$5,856$2,003
22 years$14,217$11,232$8,787$6,816$5,249$1,685
23 years$13,455$10,505$8,113$6,208$4,712$1,419
24 years$12,758$9,842$7,503$5,662$4,235$1,195
25 years$12,117$9,237$6,950$5,171$3,811$1,008
26 years$11,527$8,681$6,445$4,728$3,433$850
27 years$10,981$8,170$5,985$4,327$3,095$717
28 years$10,475$7,698$5,564$3,965$2,793$605
29 years$10,005$7,262$5,178$3,636$2,522$511
30 years$9,567$6,859$4,823$3,337$2,278$431
31 years$9,158$6,484$4,496$3,065$2,060$364
32 years$8,776$6,135$4,195$2,816$1,863$308
33 years$8,417$5,810$3,917$2,590$1,686$260
34 years$8,080$5,506$3,660$2,383$1,527$219
35 years$7,763$5,223$3,422$2,194$1,383$185
36 years$7,465$4,957$3,201$2,020$1,253$157
37 years$7,183$4,708$2,996$1,861$1,136$132
38 years$6,917$4,474$2,806$1,716$1,030$112
39 years$6,664$4,255$2,629$1,582$934$95
40 years$6,426$4,048$2,464$1,459$847$80
41 years$6,199$3,853$2,310$1,346$768$68
42 years$5,984$3,670$2,167$1,242$697$57
43 years$5,779$3,497$2,033$1,147$633$48
44 years$5,584$3,333$1,909$1,059$574$41
45 years$5,399$3,178$1,792$978$521$34
46 years$5,222$3,032$1,683$903$473$29
47 years$5,053$2,893$1,581$835$430$25
48 years$4,891$2,762$1,486$771$390$21
49 years$4,737$2,638$1,397$713$355$18
50 years$4,589$2,520$1,313$659$322$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $4,700,000, adding $2,061 every year, while hoping to spend $46,536 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$4,700,000$4,700,000$4,700,000$4,700,000
60$5,181,526$4,932,426$4,859,576$5,449,179
61$5,660,528$5,124,601$4,972,858$5,824,379
62$6,186,828$5,324,633$5,088,375$6,228,299
63$6,765,202$5,532,857$5,206,153$6,667,914
64$7,400,910$5,749,625$5,326,217$7,146,703
65$8,099,750$5,975,303$5,448,592$7,668,495
66$8,868,105$6,210,274$5,573,300$8,237,506
67$9,713,011$6,454,936$5,700,365$8,858,373
68$10,642,218$6,709,709$5,829,808$9,536,205
69$11,664,267$6,975,027$5,961,649$10,276,622
70$12,788,566$7,251,347$6,095,908$11,085,816
71$14,025,482$7,539,145$6,232,603$11,970,601
72$15,386,436$7,838,919$6,371,750$12,938,481
73$16,884,014$8,151,187$6,513,365$13,997,720
74$18,532,082$8,476,494$6,657,461$15,157,416
75$20,345,919$8,815,406$6,804,051$16,427,592
76$22,342,359$9,168,517$6,953,143$17,819,282
77$24,539,952$9,536,448$7,104,746$19,344,640
78$26,959,139$9,919,845$7,258,866$21,017,054
79$29,622,439$10,319,386$7,415,507$22,851,266
80$32,554,671$10,735,778$7,574,669$24,863,517
81$35,783,179$11,169,763$7,736,352$27,071,694
82$39,338,094$11,622,112$7,900,551$29,495,500
83$43,252,619$12,093,635$8,067,259$32,156,641
84$47,563,340$12,585,177$8,236,466$35,079,024
85$52,310,572$13,097,622$8,408,158$38,288,989
86$57,538,738$13,631,893$8,582,319$41,815,550
87$63,296,790$14,188,957$8,758,928$45,690,670
88$69,638,670$14,769,823$8,937,960$49,949,563
89$76,623,819$15,375,549$9,119,386$54,631,024
90$84,317,736$16,007,238$9,303,172$59,777,793
91$92,792,598$16,666,047$9,489,282$65,436,956
92$102,127,942$17,353,182$9,677,672$71,660,393
93$112,411,412$18,069,907$9,868,294$78,505,260
94$123,739,588$18,817,544$10,061,093$86,034,531
95$136,218,897$19,597,475$10,256,011$94,317,590
96$149,966,619$20,411,146$10,452,982$103,430,884
97$165,111,990$21,260,069$10,651,933$113,458,642
98$181,797,426$22,145,825$10,852,786$124,493,670
99$200,179,863$23,070,069$11,055,453$136,638,225
100$220,432,239$24,034,533$11,259,842$150,004,975