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

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 $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%19.3%
1 years$388,122$384,664$381,291$377,999$374,785$360,770
2 years$192,139$188,561$185,093$181,730$178,469$164,510
3 years$126,821$123,227$119,767$116,436$113,228$99,764
4 years$94,168$90,585$87,160$83,886$80,755$67,888
5 years$74,581$71,019$67,640$64,432$61,389$49,152
6 years$61,527$57,993$54,663$51,527$48,575$36,978
7 years$52,207$48,702$45,425$42,363$39,504$28,543
8 years$45,220$41,747$38,524$35,538$32,773$22,438
9 years$39,788$36,348$33,181$30,270$27,599$17,876
10 years$35,446$32,039$28,928$26,093$23,516$14,386
11 years$31,895$28,522$25,468$22,709$20,225$11,669
12 years$28,938$25,600$22,602$19,919$17,526$9,523
13 years$26,438$23,135$20,193$17,585$15,283$7,810
14 years$24,297$21,029$18,144$15,610$13,397$6,430
15 years$22,443$19,211$16,381$13,922$11,796$5,310
16 years$20,823$17,625$14,852$12,465$10,425$4,397
17 years$19,394$16,232$13,515$11,200$9,244$3,648
18 years$18,126$14,999$12,337$10,093$8,219$3,032
19 years$16,993$13,901$11,294$9,120$7,326$2,524
20 years$15,974$12,918$10,365$8,260$6,544$2,103
21 years$15,053$12,032$9,534$7,497$5,856$1,754
22 years$14,217$11,232$8,787$6,816$5,249$1,465
23 years$13,455$10,505$8,113$6,208$4,712$1,224
24 years$12,758$9,842$7,503$5,662$4,235$1,023
25 years$12,117$9,237$6,950$5,171$3,811$855
26 years$11,527$8,681$6,445$4,728$3,433$715
27 years$10,981$8,170$5,985$4,327$3,095$599
28 years$10,475$7,698$5,564$3,965$2,793$501
29 years$10,005$7,262$5,178$3,636$2,522$420
30 years$9,567$6,859$4,823$3,337$2,278$351
31 years$9,158$6,484$4,496$3,065$2,060$294
32 years$8,776$6,135$4,195$2,816$1,863$247
33 years$8,417$5,810$3,917$2,590$1,686$207
34 years$8,080$5,506$3,660$2,383$1,527$173
35 years$7,763$5,223$3,422$2,194$1,383$145
36 years$7,465$4,957$3,201$2,020$1,253$121
37 years$7,183$4,708$2,996$1,861$1,136$102
38 years$6,917$4,474$2,806$1,716$1,030$85
39 years$6,664$4,255$2,629$1,582$934$71
40 years$6,426$4,048$2,464$1,459$847$60
41 years$6,199$3,853$2,310$1,346$768$50
42 years$5,984$3,670$2,167$1,242$697$42
43 years$5,779$3,497$2,033$1,147$633$35
44 years$5,584$3,333$1,909$1,059$574$30
45 years$5,399$3,178$1,792$978$521$25
46 years$5,222$3,032$1,683$903$473$21
47 years$5,053$2,893$1,581$835$430$17
48 years$4,891$2,762$1,486$771$390$15
49 years$4,737$2,638$1,397$713$355$12
50 years$4,589$2,520$1,313$659$322$10

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 $4,528 every year, while hoping to spend $46,534 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: 43/30/27 Blend
59$4,700,000$4,700,000$4,700,000$4,700,000
60$5,184,071$4,934,971$4,862,121$5,365,994
61$5,663,334$5,127,272$4,975,490$5,688,913
62$6,189,923$5,327,437$5,091,097$6,033,799
63$6,768,615$5,535,802$5,208,969$6,406,591
64$7,404,674$5,752,716$5,329,130$6,809,899
65$8,103,899$5,978,548$5,451,604$7,246,595
66$8,872,680$6,213,680$5,576,416$7,719,833
67$9,718,055$6,458,512$5,703,588$8,233,081
68$10,647,780$6,713,462$5,833,141$8,790,151
69$11,670,399$6,978,967$5,965,097$9,395,237
70$12,795,326$7,255,484$6,099,474$10,052,947
71$14,032,934$7,543,487$6,236,292$10,768,352
72$15,394,652$7,843,476$6,375,566$11,547,029
73$16,893,071$8,155,971$6,517,311$12,395,114
74$18,542,065$8,481,515$6,661,543$13,319,356
75$20,356,924$8,820,677$6,808,272$14,327,180
76$22,354,490$9,174,050$6,957,509$15,426,760
77$24,553,324$9,542,255$7,109,262$16,627,088
78$26,973,878$9,925,940$7,263,537$17,938,060
79$29,638,686$10,325,783$7,420,338$19,370,569
80$32,572,578$10,742,493$7,579,666$20,936,606
81$35,802,917$11,176,811$7,741,520$22,649,369
82$39,359,849$11,629,510$7,905,896$24,523,386
83$43,276,598$12,101,399$8,072,787$26,574,652
84$47,589,769$12,593,326$8,242,184$28,820,779
85$52,339,700$13,106,174$8,414,072$31,281,154
86$57,570,842$13,640,869$8,588,436$33,977,129
87$63,332,174$14,198,378$8,765,254$36,932,211
88$69,677,668$14,779,711$8,944,503$40,172,287
89$76,666,800$15,385,926$9,126,153$43,725,865
90$84,365,106$16,018,129$9,310,172$47,624,339
91$92,844,806$16,677,476$9,496,522$51,902,286
92$102,185,480$17,365,177$9,685,160$56,597,783
93$112,474,825$18,082,496$9,876,038$61,752,771
94$123,809,475$18,830,756$10,069,103$67,413,444
95$136,295,918$19,611,340$10,264,295$73,630,681
96$150,051,503$20,425,697$10,461,550$80,460,526
97$165,205,539$21,275,339$10,660,795$87,964,710
98$181,900,523$22,161,850$10,861,951$96,211,234
99$200,293,483$23,086,887$11,064,932$105,275,004
100$220,557,456$24,052,182$11,269,645$115,238,536