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%16.9%
1 years$553,280$548,351$543,543$538,850$534,267$519,247
2 years$273,901$268,800$263,856$259,063$254,413$239,395
3 years$180,787$175,664$170,732$165,984$161,410$146,864
4 years$134,239$129,131$124,249$119,582$115,119$101,157
5 years$106,317$101,241$96,423$91,850$87,512$74,172
6 years$87,709$82,671$77,924$73,454$69,245$56,540
7 years$74,423$69,427$64,755$60,390$56,315$44,245
8 years$64,463$59,511$54,917$50,660$46,718$35,277
9 years$56,720$51,815$47,300$43,151$39,344$28,520
10 years$50,529$45,673$41,238$37,197$33,523$23,302
11 years$45,467$40,660$36,305$32,372$28,831$19,196
12 years$41,252$36,494$32,220$28,395$24,984$15,918
13 years$37,689$32,980$28,786$25,068$21,787$13,269
14 years$34,636$29,978$25,864$22,253$19,098$11,108
15 years$31,994$27,385$23,352$19,846$16,815$9,331
16 years$29,684$25,125$21,172$17,770$14,862$7,861
17 years$27,647$23,140$19,266$15,966$13,177$6,639
18 years$25,839$21,382$17,587$14,388$11,717$5,618
19 years$24,224$19,817$16,100$13,001$10,443$4,761
20 years$22,771$18,415$14,776$11,775$9,328$4,041
21 years$21,459$17,152$13,591$10,687$8,348$3,434
22 years$20,267$16,011$12,526$9,717$7,482$2,921
23 years$19,181$14,975$11,566$8,849$6,717$2,487
24 years$18,187$14,031$10,696$8,071$6,037$2,119
25 years$17,274$13,167$9,907$7,371$5,432$1,806
26 years$16,432$12,375$9,188$6,739$4,893$1,540
27 years$15,654$11,646$8,532$6,169$4,412$1,314
28 years$14,933$10,974$7,932$5,652$3,981$1,122
29 years$14,263$10,353$7,381$5,183$3,595$958
30 years$13,638$9,777$6,875$4,757$3,248$818
31 years$13,055$9,243$6,410$4,369$2,936$699
32 years$12,510$8,745$5,980$4,015$2,656$597
33 years$11,999$8,282$5,584$3,692$2,404$510
34 years$11,519$7,850$5,217$3,397$2,176$436
35 years$11,067$7,445$4,878$3,127$1,971$373
36 years$10,641$7,067$4,563$2,880$1,786$319
37 years$10,239$6,712$4,271$2,654$1,619$273
38 years$9,860$6,378$3,999$2,446$1,468$233
39 years$9,500$6,065$3,747$2,255$1,331$199
40 years$9,160$5,771$3,512$2,080$1,207$170
41 years$8,837$5,493$3,293$1,919$1,095$146
42 years$8,530$5,231$3,089$1,771$994$125
43 years$8,238$4,984$2,899$1,635$902$107
44 years$7,961$4,751$2,721$1,510$819$91
45 years$7,696$4,531$2,555$1,394$743$78
46 years$7,444$4,322$2,400$1,288$675$67
47 years$7,203$4,125$2,254$1,190$613$57
48 years$6,972$3,938$2,119$1,099$556$49
49 years$6,752$3,760$1,991$1,016$505$42
50 years$6,542$3,592$1,872$939$459$36

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 $2,973 every year, while hoping to spend $51,341 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: 70/14/16 Blend
59$6,700,000$6,700,000$6,700,000$6,700,000
60$7,386,467$7,031,367$6,927,517$7,875,825
61$8,085,260$7,321,277$7,104,962$8,491,617
62$8,853,609$7,623,673$7,286,631$9,158,916
63$9,698,555$7,939,110$7,472,611$9,887,934
64$10,627,855$8,268,174$7,662,991$10,684,757
65$11,650,055$8,611,473$7,857,859$11,556,080
66$12,774,571$8,969,646$8,057,308$12,509,277
67$14,011,778$9,343,360$8,261,429$13,552,463
68$15,373,108$9,733,313$8,470,316$14,694,577
69$16,871,156$10,140,236$8,684,062$15,945,455
70$18,519,799$10,564,892$8,902,763$17,315,932
71$20,334,329$11,008,083$9,126,516$18,817,938
72$22,331,594$11,470,643$9,355,418$20,464,607
73$24,530,161$11,953,448$9,589,569$22,270,408
74$26,950,484$12,457,414$9,829,066$24,251,270
75$29,615,105$12,983,499$10,074,012$26,424,739
76$32,548,862$13,532,706$10,324,507$28,810,139
77$35,779,121$14,106,085$10,580,654$31,428,753
78$39,336,041$14,704,732$10,842,555$34,304,023
79$43,252,851$15,329,798$11,110,315$37,461,768
80$47,566,169$15,982,485$11,384,037$40,930,429
81$52,316,343$16,664,051$11,663,827$44,741,334
82$57,547,835$17,375,815$11,949,790$48,928,991
83$63,309,639$18,119,155$12,242,033$53,531,415
84$69,655,743$18,895,514$12,540,662$58,590,481
85$76,645,637$19,706,403$12,845,783$64,152,321
86$84,344,879$20,553,403$13,157,503$70,267,756
87$92,825,707$21,438,170$13,475,930$76,992,771
88$102,167,725$22,362,437$13,801,170$84,389,046
89$112,458,654$23,328,017$14,133,330$92,524,532
90$123,795,157$24,336,810$14,472,517$101,474,092
91$136,283,754$25,390,805$14,818,836$111,320,206
92$150,041,824$26,492,081$15,172,395$122,153,744
93$165,198,717$27,642,820$15,533,297$134,074,824
94$181,896,971$28,845,303$15,901,647$147,193,752
95$200,293,658$30,101,919$16,277,548$161,632,063
96$220,561,868$31,415,170$16,661,103$177,523,662
97$242,892,340$32,787,675$17,052,412$195,016,087
98$267,495,266$34,222,178$17,451,574$214,271,900
99$294,602,268$35,721,550$17,858,688$235,470,213
100$324,468,594$37,288,800$18,273,848$258,808,381