Can I retire at age 60 with 6,700,000?

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 $6,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$553,280$548,351$543,543$538,850$534,267$516,339
2 years$273,901$268,800$263,856$259,063$254,413$236,527
3 years$180,787$175,664$170,732$165,984$161,410$144,129
4 years$134,239$129,131$124,249$119,582$115,119$98,574
5 years$106,317$101,241$96,423$91,850$87,512$71,747
6 years$87,709$82,671$77,924$73,454$69,245$54,274
7 years$74,423$69,427$64,755$60,390$56,315$42,134
8 years$64,463$59,511$54,917$50,660$46,718$33,318
9 years$56,720$51,815$47,300$43,151$39,344$26,707
10 years$50,529$45,673$41,238$37,197$33,523$21,630
11 years$45,467$40,660$36,305$32,372$28,831$17,659
12 years$41,252$36,494$32,220$28,395$24,984$14,508
13 years$37,689$32,980$28,786$25,068$21,787$11,979
14 years$34,636$29,978$25,864$22,253$19,098$9,931
15 years$31,994$27,385$23,352$19,846$16,815$8,261
16 years$29,684$25,125$21,172$17,770$14,862$6,890
17 years$27,647$23,140$19,266$15,966$13,177$5,759
18 years$25,839$21,382$17,587$14,388$11,717$4,823
19 years$24,224$19,817$16,100$13,001$10,443$4,045
20 years$22,771$18,415$14,776$11,775$9,328$3,396
21 years$21,459$17,152$13,591$10,687$8,348$2,855
22 years$20,267$16,011$12,526$9,717$7,482$2,402
23 years$19,181$14,975$11,566$8,849$6,717$2,023
24 years$18,187$14,031$10,696$8,071$6,037$1,704
25 years$17,274$13,167$9,907$7,371$5,432$1,437
26 years$16,432$12,375$9,188$6,739$4,893$1,211
27 years$15,654$11,646$8,532$6,169$4,412$1,022
28 years$14,933$10,974$7,932$5,652$3,981$863
29 years$14,263$10,353$7,381$5,183$3,595$728
30 years$13,638$9,777$6,875$4,757$3,248$615
31 years$13,055$9,243$6,410$4,369$2,936$519
32 years$12,510$8,745$5,980$4,015$2,656$438
33 years$11,999$8,282$5,584$3,692$2,404$370
34 years$11,519$7,850$5,217$3,397$2,176$313
35 years$11,067$7,445$4,878$3,127$1,971$264
36 years$10,641$7,067$4,563$2,880$1,786$223
37 years$10,239$6,712$4,271$2,654$1,619$189
38 years$9,860$6,378$3,999$2,446$1,468$159
39 years$9,500$6,065$3,747$2,255$1,331$135
40 years$9,160$5,771$3,512$2,080$1,207$114
41 years$8,837$5,493$3,293$1,919$1,095$96
42 years$8,530$5,231$3,089$1,771$994$81
43 years$8,238$4,984$2,899$1,635$902$69
44 years$7,961$4,751$2,721$1,510$819$58
45 years$7,696$4,531$2,555$1,394$743$49
46 years$7,444$4,322$2,400$1,288$675$42
47 years$7,203$4,125$2,254$1,190$613$35
48 years$6,972$3,938$2,119$1,099$556$30
49 years$6,752$3,760$1,991$1,016$505$25
50 years$6,542$3,592$1,872$939$459$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $6,700,000, adding $6,442 every year, while hoping to spend $39,551 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: 44/28/28 Blend
59$6,700,000$6,700,000$6,700,000$6,700,000
60$7,390,045$7,034,945$6,931,095$7,654,858
61$8,101,748$7,337,575$7,121,205$8,147,163
62$8,884,718$7,653,709$7,316,357$8,676,228
63$9,746,185$7,983,966$7,516,681$9,249,001
64$10,694,110$8,328,995$7,722,304$9,869,573
65$11,737,269$8,689,475$7,933,361$10,542,434
66$12,885,330$9,066,119$8,149,988$11,272,523
67$14,148,945$9,459,670$8,372,324$12,065,264
68$15,539,852$9,870,908$8,600,511$12,926,617
69$17,070,984$10,300,651$8,834,696$13,863,137
70$18,756,594$10,749,751$9,075,027$14,882,027
71$20,612,382$11,219,105$9,321,657$15,991,210
72$22,655,654$11,709,650$9,574,741$17,199,394
73$24,905,475$12,222,367$9,834,439$18,516,161
74$27,382,855$12,758,284$10,100,914$19,952,046
75$30,110,943$13,318,477$10,374,331$21,518,637
76$33,115,250$13,904,074$10,654,862$23,228,686
77$36,423,885$14,516,253$10,942,680$25,096,219
78$40,067,824$15,156,252$11,237,963$27,136,670
79$44,081,199$15,825,366$11,540,891$29,367,021
80$48,501,622$16,524,949$11,851,652$31,805,962
81$53,370,538$17,256,422$12,170,433$34,474,062
82$58,733,619$18,021,272$12,497,428$37,393,958
83$64,641,191$18,821,058$12,832,835$40,590,568
84$71,148,713$19,657,411$13,176,856$44,091,319
85$78,317,298$20,532,039$13,529,696$47,926,407
86$86,214,287$21,446,734$13,891,566$52,129,071
87$94,913,891$22,403,371$14,262,680$56,735,908
88$104,497,886$23,403,914$14,643,258$61,787,208
89$115,056,386$24,450,421$15,033,522$67,327,336
90$126,688,694$25,545,048$15,433,702$73,405,142
91$139,504,238$26,690,054$15,844,029$80,074,416
92$153,623,607$27,887,803$16,264,740$87,394,393
93$169,179,685$29,140,775$16,696,079$95,430,303
94$186,318,907$30,451,567$17,138,291$104,253,985
95$205,202,640$31,822,898$17,591,629$113,944,555
96$226,008,709$33,257,620$18,056,348$124,589,147
97$248,933,072$34,758,718$18,532,711$136,283,732
98$274,191,671$36,329,322$19,020,983$149,134,010
99$302,022,472$37,972,709$19,521,436$163,256,410
100$332,687,707$39,692,314$20,034,346$178,779,170