Can I retire at age 60 with 6,200,000?

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 $6,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$511,990$507,430$502,980$498,637$494,397$486,407
2 years$253,460$248,740$244,165$239,729$235,427$227,399
3 years$167,295$162,554$157,991$153,597$149,365$141,549
4 years$124,221$119,495$114,977$110,658$106,528$98,984
5 years$98,383$93,685$89,227$84,996$80,981$73,731
6 years$81,164$76,501$72,109$67,972$64,077$57,130
7 years$68,869$64,245$59,923$55,883$52,112$45,469
8 years$59,652$55,070$50,819$46,879$43,232$36,893
9 years$52,487$47,949$43,770$39,931$36,408$30,368
10 years$46,758$42,264$38,160$34,421$31,021$25,277
11 years$42,074$37,625$33,596$29,956$26,679$21,224
12 years$38,174$33,771$29,815$26,276$23,120$17,946
13 years$34,876$30,519$26,638$23,198$20,161$15,262
14 years$32,052$27,741$23,934$20,592$17,673$13,040
15 years$29,606$25,342$21,609$18,365$15,561$11,185
16 years$27,468$23,250$19,592$16,443$13,752$9,626
17 years$25,584$21,413$17,828$14,774$12,194$8,307
18 years$23,911$19,786$16,275$13,315$10,842$7,185
19 years$22,416$18,338$14,899$12,031$9,664$6,228
20 years$21,072$17,040$13,673$10,896$8,632$5,407
21 years$19,857$15,872$12,577$9,889$7,725$4,701
22 years$18,755$14,816$11,591$8,991$6,924$4,093
23 years$17,750$13,857$10,703$8,189$6,215$3,567
24 years$16,830$12,984$9,898$7,469$5,587$3,112
25 years$15,985$12,184$9,168$6,821$5,027$2,717
26 years$15,206$11,451$8,503$6,237$4,528$2,373
27 years$14,486$10,777$7,895$5,708$4,083$2,075
28 years$13,818$10,155$7,340$5,230$3,684$1,815
29 years$13,198$9,580$6,830$4,796$3,326$1,588
30 years$12,621$9,048$6,362$4,402$3,006$1,390
31 years$12,081$8,553$5,931$4,043$2,717$1,218
32 years$11,576$8,093$5,534$3,715$2,458$1,067
33 years$11,103$7,664$5,167$3,416$2,224$935
34 years$10,659$7,264$4,828$3,143$2,014$819
35 years$10,241$6,890$4,514$2,894$1,824$718
36 years$9,847$6,539$4,222$2,665$1,653$630
37 years$9,475$6,211$3,952$2,455$1,498$552
38 years$9,124$5,902$3,701$2,263$1,358$484
39 years$8,791$5,613$3,467$2,087$1,232$425
40 years$8,476$5,340$3,250$1,925$1,117$373
41 years$8,177$5,083$3,047$1,776$1,013$327
42 years$7,894$4,841$2,859$1,639$920$287
43 years$7,624$4,612$2,682$1,513$835$252
44 years$7,366$4,397$2,518$1,397$758$221
45 years$7,122$4,193$2,364$1,290$688$194
46 years$6,888$4,000$2,221$1,192$624$170
47 years$6,665$3,817$2,086$1,101$567$149
48 years$6,452$3,644$1,960$1,017$515$131
49 years$6,248$3,480$1,843$940$468$115
50 years$6,053$3,324$1,732$869$425$101

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $6,200,000, adding $6,718 every year, while hoping to spend $28,256 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: 51/25/24 Blend
59$6,200,000$6,200,000$6,200,000$6,200,000
60$6,839,330$6,510,730$6,414,630$7,141,863
61$7,506,877$6,799,691$6,599,456$7,641,337
62$8,241,567$7,101,865$6,789,526$8,180,706
63$9,050,219$7,417,868$6,984,987$8,766,609
64$9,940,346$7,748,348$7,185,989$9,403,476
65$10,920,226$8,093,982$7,392,684$10,096,175
66$11,998,982$8,455,480$7,605,232$10,850,058
67$13,186,665$8,833,586$7,823,794$11,671,010
68$14,494,351$9,229,078$8,048,538$12,565,501
69$15,934,245$9,642,772$8,279,633$13,540,648
70$17,519,794$10,075,524$8,517,257$14,604,275
71$19,265,817$10,528,229$8,761,589$15,764,991
72$21,188,643$11,001,824$9,012,815$17,032,266
73$23,306,265$11,497,294$9,271,125$18,416,516
74$25,638,510$12,015,668$9,536,714$19,929,205
75$28,207,228$12,558,025$9,809,783$21,582,943
76$31,036,492$13,125,496$10,090,538$23,391,609
77$34,152,834$13,719,265$10,379,191$25,370,478
78$37,585,487$14,340,572$10,675,957$27,536,358
79$41,366,666$14,990,720$10,981,061$29,907,751
80$45,531,870$15,671,069$11,294,731$32,505,024
81$50,120,218$16,383,049$11,617,202$35,350,593
82$55,174,816$17,128,155$11,948,714$38,469,138
83$60,743,167$17,907,954$12,289,516$41,887,828
84$66,877,617$18,724,090$12,639,861$45,636,578
85$73,635,847$19,578,284$13,000,010$49,748,323
86$81,081,424$20,472,340$13,370,230$54,259,325
87$89,284,392$21,408,148$13,750,797$59,209,518
88$98,321,943$22,387,690$14,141,991$64,642,872
89$108,279,136$23,413,042$14,544,103$70,607,810
90$119,249,706$24,486,378$14,957,428$77,157,657
91$131,336,946$25,609,981$15,382,272$84,351,139
92$144,654,683$26,786,239$15,818,947$92,252,933
93$159,328,352$28,017,656$16,267,773$100,934,274
94$175,496,181$29,306,858$16,729,080$110,473,618
95$193,310,493$30,656,596$17,203,206$120,957,379
96$212,939,147$32,069,752$17,690,497$132,480,739
97$234,567,119$33,549,349$18,191,307$145,148,540
98$258,398,252$35,098,554$18,706,003$159,076,267
99$284,657,177$36,720,687$19,234,957$174,391,130
100$313,591,435$38,419,226$19,778,554$191,233,260