Can I retire at age 60 with 5,900,000?

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 $5,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$487,216$482,877$478,642$474,510$470,474$464,018
2 years$241,196$236,704$232,351$228,130$224,035$217,543
3 years$159,200$154,689$150,346$146,165$142,137$135,809
4 years$118,210$113,713$109,414$105,304$101,373$95,259
5 years$93,623$89,152$84,909$80,883$77,063$71,180
6 years$77,236$72,799$68,619$64,683$60,977$55,333
7 years$65,536$61,137$57,023$53,179$49,591$44,187
8 years$56,765$52,406$48,360$44,611$41,140$35,976
9 years$49,947$45,628$41,653$37,999$34,646$29,719
10 years$44,496$40,219$36,314$32,755$29,520$24,827
11 years$40,038$35,805$31,970$28,507$25,388$20,925
12 years$36,327$32,136$28,373$25,004$22,001$17,761
13 years$33,188$29,042$25,349$22,075$19,185$15,164
14 years$30,501$26,398$22,776$19,596$16,818$13,009
15 years$28,174$24,115$20,564$17,476$14,808$11,204
16 years$26,139$22,125$18,644$15,648$13,087$9,683
17 years$24,346$20,377$16,965$14,059$11,604$8,392
18 years$22,754$18,829$15,487$12,670$10,318$7,290
19 years$21,331$17,450$14,178$11,449$9,196$6,346
20 years$20,052$16,216$13,012$10,369$8,214$5,535
21 years$18,897$15,104$11,968$9,411$7,351$4,834
22 years$17,847$14,099$11,031$8,556$6,589$4,228
23 years$16,891$13,187$10,185$7,792$5,915$3,702
24 years$16,015$12,355$9,419$7,107$5,316$3,244
25 years$15,211$11,595$8,724$6,491$4,784$2,846
26 years$14,470$10,897$8,091$5,935$4,309$2,498
27 years$13,785$10,256$7,513$5,432$3,885$2,195
28 years$13,150$9,664$6,985$4,977$3,506$1,929
29 years$12,560$9,117$6,500$4,564$3,165$1,696
30 years$12,010$8,610$6,054$4,189$2,860$1,492
31 years$11,497$8,139$5,644$3,847$2,586$1,313
32 years$11,016$7,701$5,266$3,535$2,339$1,156
33 years$10,566$7,293$4,917$3,251$2,117$1,018
34 years$10,143$6,912$4,594$2,991$1,917$897
35 years$9,745$6,556$4,295$2,754$1,736$790
36 years$9,371$6,223$4,018$2,536$1,573$697
37 years$9,017$5,910$3,761$2,337$1,426$614
38 years$8,682$5,617$3,522$2,154$1,292$541
39 years$8,366$5,341$3,300$1,986$1,172$477
40 years$8,066$5,082$3,093$1,832$1,063$421
41 years$7,782$4,837$2,900$1,690$964$371
42 years$7,512$4,607$2,720$1,560$875$327
43 years$7,255$4,389$2,553$1,440$794$289
44 years$7,010$4,184$2,396$1,329$721$255
45 years$6,777$3,990$2,250$1,228$654$225
46 years$6,555$3,806$2,113$1,134$594$198
47 years$6,343$3,632$1,985$1,048$540$175
48 years$6,140$3,467$1,866$968$490$154
49 years$5,946$3,311$1,754$895$445$136
50 years$5,760$3,163$1,649$827$404$120

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $5,900,000, adding $6,680 every year, while hoping to spend $56,630 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: 36/41/23 Blend
59$5,900,000$5,900,000$5,900,000$5,900,000
60$6,508,690$6,195,990$6,104,540$6,697,596
61$7,112,323$6,439,340$6,248,789$7,080,352
62$7,775,628$6,692,716$6,395,971$7,487,581
63$8,504,632$6,956,549$6,546,127$7,926,083
64$9,305,976$7,231,291$6,699,293$8,398,694
65$10,186,973$7,517,412$6,855,507$8,908,529
66$11,155,684$7,815,404$7,014,805$9,459,004
67$12,220,986$8,125,782$7,177,224$10,053,872
68$13,392,663$8,449,082$7,342,798$10,697,253
69$14,681,493$8,785,865$7,511,560$11,393,672
70$16,099,351$9,136,719$7,683,543$12,148,102
71$17,659,322$9,502,255$7,858,779$12,966,003
72$19,375,822$9,883,114$8,037,296$13,853,378
73$21,264,734$10,279,965$8,219,125$14,816,823
74$23,343,563$10,693,509$8,404,291$15,863,589
75$25,631,591$11,124,476$8,592,819$17,001,647
76$28,150,068$11,573,630$8,784,733$18,239,762
77$30,922,407$12,041,770$8,980,054$19,587,571
78$33,974,407$12,529,732$9,178,801$21,055,672
79$37,334,496$13,038,388$9,380,990$22,655,723
80$41,033,997$13,568,651$9,586,636$24,400,547
81$45,107,426$14,121,476$9,795,749$26,304,250
82$49,592,815$14,697,860$10,008,338$28,382,352
83$54,532,073$15,298,846$10,224,409$30,651,929
84$59,971,381$15,925,526$10,443,963$33,131,771
85$65,961,625$16,579,040$10,666,998$35,842,557
86$72,558,878$17,260,580$10,893,510$38,807,043
87$79,824,930$17,971,395$11,123,489$42,050,279
88$87,827,868$18,712,788$11,356,921$45,599,832
89$96,642,720$19,486,125$11,593,788$49,486,053
90$106,352,165$20,292,832$11,834,067$53,742,347
91$117,047,308$21,134,403$12,077,730$58,405,496
92$128,828,542$22,012,397$12,324,743$63,515,991
93$141,806,498$22,928,450$12,575,067$69,118,414
94$156,103,085$23,884,268$12,828,656$75,261,854
95$171,852,643$24,881,640$13,085,458$82,000,362
96$189,203,207$25,922,435$13,345,416$89,393,458
97$208,317,909$27,008,609$13,608,462$97,506,685
98$229,376,513$28,142,209$13,874,524$106,412,223
99$252,577,116$29,325,376$14,143,519$116,189,562
100$278,138,013$30,560,350$14,415,357$126,926,246