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%16.5%
1 years$388,122$384,664$381,291$377,999$374,785$364,836
2 years$192,139$188,561$185,093$181,730$178,469$168,516
3 years$126,821$123,227$119,767$116,436$113,228$103,581
4 years$94,168$90,585$87,160$83,886$80,755$71,489
5 years$74,581$71,019$67,640$64,432$61,389$52,529
6 years$61,527$57,993$54,663$51,527$48,575$40,130
7 years$52,207$48,702$45,425$42,363$39,504$31,474
8 years$45,220$41,747$38,524$35,538$32,773$25,154
9 years$39,788$36,348$33,181$30,270$27,599$20,385
10 years$35,446$32,039$28,928$26,093$23,516$16,697
11 years$31,895$28,522$25,468$22,709$20,225$13,790
12 years$28,938$25,600$22,602$19,919$17,526$11,465
13 years$26,438$23,135$20,193$17,585$15,283$9,583
14 years$24,297$21,029$18,144$15,610$13,397$8,044
15 years$22,443$19,211$16,381$13,922$11,796$6,777
16 years$20,823$17,625$14,852$12,465$10,425$5,726
17 years$19,394$16,232$13,515$11,200$9,244$4,849
18 years$18,126$14,999$12,337$10,093$8,219$4,116
19 years$16,993$13,901$11,294$9,120$7,326$3,499
20 years$15,974$12,918$10,365$8,260$6,544$2,979
21 years$15,053$12,032$9,534$7,497$5,856$2,539
22 years$14,217$11,232$8,787$6,816$5,249$2,167
23 years$13,455$10,505$8,113$6,208$4,712$1,850
24 years$12,758$9,842$7,503$5,662$4,235$1,581
25 years$12,117$9,237$6,950$5,171$3,811$1,352
26 years$11,527$8,681$6,445$4,728$3,433$1,157
27 years$10,981$8,170$5,985$4,327$3,095$991
28 years$10,475$7,698$5,564$3,965$2,793$848
29 years$10,005$7,262$5,178$3,636$2,522$727
30 years$9,567$6,859$4,823$3,337$2,278$623
31 years$9,158$6,484$4,496$3,065$2,060$534
32 years$8,776$6,135$4,195$2,816$1,863$458
33 years$8,417$5,810$3,917$2,590$1,686$392
34 years$8,080$5,506$3,660$2,383$1,527$336
35 years$7,763$5,223$3,422$2,194$1,383$289
36 years$7,465$4,957$3,201$2,020$1,253$248
37 years$7,183$4,708$2,996$1,861$1,136$212
38 years$6,917$4,474$2,806$1,716$1,030$182
39 years$6,664$4,255$2,629$1,582$934$156
40 years$6,426$4,048$2,464$1,459$847$134
41 years$6,199$3,853$2,310$1,346$768$115
42 years$5,984$3,670$2,167$1,242$697$99
43 years$5,779$3,497$2,033$1,147$633$85
44 years$5,584$3,333$1,909$1,059$574$73
45 years$5,399$3,178$1,792$978$521$62
46 years$5,222$3,032$1,683$903$473$54
47 years$5,053$2,893$1,581$835$430$46
48 years$4,891$2,762$1,486$771$390$39
49 years$4,737$2,638$1,397$713$355$34
50 years$4,589$2,520$1,313$659$322$29

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 $5,523 every year, while hoping to spend $21,340 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: 40/48/12 Blend
59$4,700,000$4,700,000$4,700,000$4,700,000
60$5,185,097$4,935,997$4,863,147$5,373,702
61$5,691,271$5,155,155$5,003,357$5,726,504
62$6,248,360$5,384,337$5,147,548$6,105,398
63$6,861,534$5,624,011$5,295,833$6,514,806
64$7,536,491$5,874,668$5,448,324$6,957,502
65$8,279,509$6,136,822$5,605,138$7,436,526
66$9,097,504$6,411,012$5,766,396$7,955,213
67$9,998,100$6,697,802$5,932,221$8,517,223
68$10,989,696$6,997,784$6,102,739$9,126,572
69$12,081,545$7,311,576$6,278,081$9,787,666
70$13,283,847$7,639,827$6,458,381$10,505,345
71$14,607,837$7,983,216$6,643,775$11,284,921
72$16,065,900$8,342,457$6,834,404$12,132,228
73$17,671,678$8,718,294$7,030,414$13,053,674
74$19,440,209$9,111,510$7,231,952$14,056,300
75$21,388,059$9,522,923$7,439,171$15,147,840
76$23,533,486$9,953,391$7,652,228$16,336,792
77$25,896,607$10,403,813$7,871,283$17,632,497
78$28,499,592$10,875,131$8,096,503$19,045,223
79$31,366,870$11,368,331$8,328,055$20,586,255
80$34,525,360$11,884,449$8,566,114$22,268,003
81$38,004,726$12,424,567$8,810,859$24,104,109
82$41,837,659$12,989,821$9,062,473$26,109,579
83$46,060,178$13,581,400$9,321,144$28,300,912
84$50,711,980$14,200,552$9,587,066$30,696,257
85$55,836,805$14,848,583$9,860,436$33,315,580
86$61,482,858$15,526,862$10,141,459$36,180,842
87$67,703,254$16,236,823$10,430,343$39,316,206
88$74,556,529$16,979,971$10,727,302$42,748,258
89$82,107,186$17,757,880$11,032,558$46,506,251
90$90,426,305$18,572,202$11,346,335$50,622,377
91$99,592,217$19,424,668$11,668,865$55,132,065
92$109,691,237$20,317,092$12,000,387$60,074,306
93$120,818,488$21,251,373$12,341,144$65,492,016
94$133,078,788$22,229,505$12,691,386$71,432,434
95$146,587,648$23,253,575$13,051,372$77,947,561
96$161,472,360$24,325,771$13,421,364$85,094,640
97$177,873,194$25,448,388$13,801,633$92,936,694
98$195,944,728$26,623,828$14,192,457$101,543,103
99$215,857,306$27,854,611$14,594,120$110,990,259
100$237,798,643$29,143,378$15,006,914$121,362,275