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

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 $6,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$553,280$548,351$543,543$538,850$534,267$531,792
2 years$273,901$268,800$263,856$259,063$254,413$251,915
3 years$180,787$175,664$170,732$165,984$161,410$158,966
4 years$134,239$129,131$124,249$119,582$115,119$112,748
5 years$106,317$101,241$96,423$91,850$87,512$85,220
6 years$87,709$82,671$77,924$73,454$69,245$67,037
7 years$74,423$69,427$64,755$60,390$56,315$54,190
8 years$64,463$59,511$54,917$50,660$46,718$44,678
9 years$56,720$51,815$47,300$43,151$39,344$37,387
10 years$50,529$45,673$41,238$37,197$33,523$31,649
11 years$45,467$40,660$36,305$32,372$28,831$27,039
12 years$41,252$36,494$32,220$28,395$24,984$23,272
13 years$37,689$32,980$28,786$25,068$21,787$20,153
14 years$34,636$29,978$25,864$22,253$19,098$17,541
15 years$31,994$27,385$23,352$19,846$16,815$15,334
16 years$29,684$25,125$21,172$17,770$14,862$13,452
17 years$27,647$23,140$19,266$15,966$13,177$11,839
18 years$25,839$21,382$17,587$14,388$11,717$10,447
19 years$24,224$19,817$16,100$13,001$10,443$9,240
20 years$22,771$18,415$14,776$11,775$9,328$8,188
21 years$21,459$17,152$13,591$10,687$8,348$7,270
22 years$20,267$16,011$12,526$9,717$7,482$6,464
23 years$19,181$14,975$11,566$8,849$6,717$5,755
24 years$18,187$14,031$10,696$8,071$6,037$5,130
25 years$17,274$13,167$9,907$7,371$5,432$4,578
26 years$16,432$12,375$9,188$6,739$4,893$4,089
27 years$15,654$11,646$8,532$6,169$4,412$3,655
28 years$14,933$10,974$7,932$5,652$3,981$3,270
29 years$14,263$10,353$7,381$5,183$3,595$2,927
30 years$13,638$9,777$6,875$4,757$3,248$2,621
31 years$13,055$9,243$6,410$4,369$2,936$2,349
32 years$12,510$8,745$5,980$4,015$2,656$2,106
33 years$11,999$8,282$5,584$3,692$2,404$1,889
34 years$11,519$7,850$5,217$3,397$2,176$1,695
35 years$11,067$7,445$4,878$3,127$1,971$1,521
36 years$10,641$7,067$4,563$2,880$1,786$1,365
37 years$10,239$6,712$4,271$2,654$1,619$1,226
38 years$9,860$6,378$3,999$2,446$1,468$1,101
39 years$9,500$6,065$3,747$2,255$1,331$990
40 years$9,160$5,771$3,512$2,080$1,207$889
41 years$8,837$5,493$3,293$1,919$1,095$799
42 years$8,530$5,231$3,089$1,771$994$718
43 years$8,238$4,984$2,899$1,635$902$646
44 years$7,961$4,751$2,721$1,510$819$581
45 years$7,696$4,531$2,555$1,394$743$522
46 years$7,444$4,322$2,400$1,288$675$470
47 years$7,203$4,125$2,254$1,190$613$422
48 years$6,972$3,938$2,119$1,099$556$380
49 years$6,752$3,760$1,991$1,016$505$342
50 years$6,542$3,592$1,872$939$459$307

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 $2,147 every year, while hoping to spend $58,990 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: 72/14/14 Blend
59$6,700,000$6,700,000$6,700,000$6,700,000
60$7,385,615$7,030,515$6,926,665$7,894,574
61$8,076,182$7,312,245$7,095,943$8,513,889
62$8,835,211$7,605,803$7,268,915$9,184,440
63$9,669,621$7,911,706$7,445,642$9,917,163
64$10,587,038$8,230,495$7,626,186$10,718,197
65$11,595,861$8,562,734$7,810,609$11,594,299
66$12,705,345$8,909,015$7,998,971$12,552,907
67$13,925,689$9,269,955$8,191,335$13,602,214
68$15,268,126$9,646,199$8,387,761$14,751,235
69$16,745,035$10,038,423$8,588,311$16,009,902
70$18,370,055$10,447,332$8,793,046$17,389,149
71$20,158,213$10,873,664$9,002,026$18,901,016
72$22,126,067$11,318,191$9,215,311$20,558,763
73$24,291,862$11,781,718$9,432,959$22,376,992
74$26,675,699$12,265,089$9,655,031$24,371,787
75$29,299,729$12,769,187$9,881,583$26,560,861
76$32,188,358$13,294,933$10,112,672$28,963,721
77$35,368,478$13,843,293$10,348,355$31,601,857
78$38,869,724$14,415,275$10,588,685$34,498,935
79$42,724,746$15,011,935$10,833,717$37,681,029
80$46,969,526$15,634,375$11,083,503$41,176,853
81$51,643,710$16,283,752$11,338,092$45,018,044
82$56,790,984$16,961,271$11,597,533$49,239,449
83$62,459,487$17,668,197$11,861,874$53,879,455
84$68,702,267$18,405,850$12,131,159$58,980,353
85$75,577,775$19,175,614$12,405,429$64,588,731
86$83,150,423$19,978,934$12,684,726$70,755,914
87$91,491,188$20,817,324$12,969,087$77,538,446
88$100,678,284$21,692,367$13,258,545$84,998,621
89$110,797,895$22,605,719$13,553,133$93,205,073
90$121,944,995$23,559,114$13,852,877$102,233,414
91$134,224,239$24,554,365$14,157,803$112,166,952
92$147,750,953$25,593,370$14,467,931$123,097,475
93$162,652,221$26,678,116$14,783,278$135,126,110
94$179,068,084$27,810,681$15,103,854$148,364,278
95$197,152,863$28,993,239$15,429,668$162,934,746
96$217,076,615$30,228,067$15,760,722$178,972,777
97$239,026,736$31,517,548$16,097,012$196,627,409
98$263,209,730$32,864,175$16,438,529$216,062,857
99$289,853,161$34,270,559$16,785,258$237,460,060
100$319,207,798$35,739,430$17,137,178$261,018,387