Can I retire at age 60 with 5,600,000?

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 $5,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$462,443$458,324$454,305$450,382$446,552$437,894
2 years$228,932$224,668$220,536$216,530$212,644$203,956
3 years$151,105$146,823$142,702$138,733$134,910$126,464
4 years$112,200$107,931$103,850$99,949$96,219$88,079
5 years$88,862$84,619$80,592$76,771$73,144$65,334
6 years$73,309$69,098$65,130$61,394$57,876$50,404
7 years$62,204$58,028$54,124$50,475$47,069$39,936
8 years$53,879$49,741$45,901$42,343$39,048$32,254
9 years$47,408$43,308$39,535$36,066$32,884$26,423
10 years$42,233$38,174$34,467$31,090$28,019$21,885
11 years$38,003$33,984$30,344$27,057$24,097$18,284
12 years$34,480$30,502$26,930$23,733$20,882$15,381
13 years$31,501$27,565$24,060$20,953$18,210$13,011
14 years$28,950$25,056$21,618$18,599$15,963$11,057
15 years$26,741$22,889$19,518$16,587$14,055$9,432
16 years$24,810$21,000$17,696$14,852$12,422$8,072
17 years$23,108$19,341$16,103$13,345$11,014$6,926
18 years$21,597$17,872$14,700$12,026$9,793$5,956
19 years$20,247$16,563$13,457$10,867$8,729$5,132
20 years$19,033$15,391$12,350$9,842$7,797$4,429
21 years$17,936$14,336$11,360$8,932$6,977$3,828
22 years$16,940$13,383$10,470$8,121$6,254$3,312
23 years$16,032$12,516$9,667$7,396$5,614$2,869
24 years$15,201$11,727$8,940$6,746$5,046$2,487
25 years$14,438$11,005$8,280$6,161$4,541$2,157
26 years$13,734$10,343$7,680$5,633$4,090$1,873
27 years$13,084$9,734$7,131$5,156$3,687$1,627
28 years$12,481$9,172$6,629$4,724$3,327$1,414
29 years$11,921$8,653$6,169$4,332$3,004$1,229
30 years$11,399$8,172$5,746$3,976$2,715$1,069
31 years$10,912$7,725$5,357$3,651$2,454$930
32 years$10,456$7,310$4,998$3,356$2,220$809
33 years$10,029$6,922$4,667$3,086$2,009$704
34 years$9,627$6,561$4,361$2,839$1,819$613
35 years$9,250$6,223$4,077$2,614$1,648$534
36 years$8,894$5,906$3,814$2,407$1,493$465
37 years$8,558$5,610$3,570$2,218$1,353$405
38 years$8,241$5,331$3,343$2,044$1,227$353
39 years$7,941$5,069$3,132$1,885$1,112$307
40 years$7,656$4,823$2,936$1,739$1,009$268
41 years$7,386$4,591$2,753$1,604$915$233
42 years$7,130$4,372$2,582$1,480$831$203
43 years$6,886$4,166$2,423$1,367$754$177
44 years$6,654$3,971$2,274$1,262$684$155
45 years$6,432$3,787$2,135$1,165$621$135
46 years$6,221$3,613$2,006$1,076$564$117
47 years$6,020$3,447$1,884$994$512$102
48 years$5,828$3,291$1,771$919$465$89
49 years$5,644$3,143$1,664$849$422$78
50 years$5,468$3,002$1,565$785$384$68

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $5,600,000, adding $3,980 every year, while hoping to spend $27,614 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: 51/24/25 Blend
59$5,600,000$5,600,000$5,600,000$5,600,000
60$6,175,305$5,878,505$5,791,705$6,446,753
61$6,775,805$6,137,171$5,956,346$6,894,323
62$7,436,631$6,407,586$6,125,577$7,377,592
63$8,163,906$6,690,296$6,299,523$7,902,522
64$8,964,379$6,985,875$6,478,311$8,473,084
65$9,845,483$7,294,921$6,662,073$9,093,641
66$10,815,413$7,618,063$6,850,943$9,768,990
67$11,883,195$7,955,958$7,045,059$10,504,406
68$13,058,776$8,309,294$7,244,564$11,305,689
69$14,353,116$8,678,795$7,449,602$12,179,220
70$15,778,293$9,065,215$7,660,322$13,132,013
71$17,347,615$9,469,346$7,876,878$14,171,788
72$19,075,745$9,892,017$8,099,427$15,307,036
73$20,978,842$10,334,098$8,328,130$16,547,098
74$23,074,713$10,796,497$8,563,151$17,902,253
75$25,382,978$11,280,169$8,804,660$19,383,813
76$27,925,256$11,786,113$9,052,831$21,004,225
77$30,725,374$12,315,374$9,307,843$22,777,189
78$33,809,583$12,869,048$9,569,876$24,717,782
79$37,206,814$13,448,285$9,839,120$26,842,601
80$40,948,945$14,054,286$10,115,767$29,169,916
81$45,071,104$14,688,314$10,400,012$31,719,837
82$49,612,003$15,351,687$10,692,059$34,514,506
83$54,614,299$16,045,791$10,992,114$37,578,298
84$60,124,997$16,772,075$11,300,390$40,938,054
85$66,195,899$17,532,059$11,617,105$44,623,322
86$72,884,084$18,327,333$11,942,481$48,666,644
87$80,252,454$19,159,566$12,276,748$53,103,849
88$88,370,325$20,030,505$12,620,140$57,974,396
89$97,314,081$20,941,982$12,972,897$63,321,737
90$107,167,894$21,895,916$13,335,266$69,193,726
91$118,024,521$22,894,318$13,707,499$75,643,065
92$129,986,177$23,939,295$14,089,856$82,727,800
93$143,165,502$25,033,055$14,482,601$90,511,859
94$157,686,621$26,177,913$14,886,006$99,065,657
95$173,686,319$27,376,293$15,300,349$108,466,753
96$191,315,329$28,630,737$15,725,917$118,800,576
97$210,739,758$29,943,908$16,163,000$130,161,227
98$232,142,652$31,318,599$16,611,899$142,652,362
99$255,725,725$32,757,733$17,072,921$156,388,164
100$281,711,265$34,264,378$17,546,379$171,494,417