Can I retire at age 60 with 6,900,000?

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 $6,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$569,796$564,720$559,768$554,935$550,216$546,748
2 years$282,077$276,824$271,732$266,796$262,007$258,510
3 years$186,183$180,907$175,829$170,939$166,228$162,809
4 years$138,246$132,986$127,958$123,152$118,555$115,240
5 years$109,491$104,263$99,301$94,592$90,124$86,923
6 years$90,327$85,138$80,250$75,646$71,312$68,229
7 years$76,644$71,499$66,688$62,193$57,996$55,033
8 years$66,387$61,288$56,557$52,172$48,113$45,270
9 years$58,413$53,362$48,712$44,439$40,518$37,794
10 years$52,037$47,036$42,468$38,307$34,524$31,918
11 years$46,825$41,873$37,389$33,338$29,691$27,202
12 years$42,484$37,583$33,181$29,242$25,730$23,354
13 years$38,814$33,964$29,645$25,817$22,437$20,172
14 years$35,670$30,873$26,637$22,917$19,668$17,512
15 years$32,949$28,203$24,049$20,438$17,317$15,268
16 years$30,570$25,875$21,804$18,300$15,305$13,358
17 years$28,473$23,830$19,841$16,442$13,571$11,724
18 years$26,611$22,020$18,112$14,818$12,066$10,316
19 years$24,947$20,408$16,581$13,389$10,755$9,098
20 years$23,451$18,964$15,217$12,127$9,607$8,040
21 years$22,099$17,665$13,997$11,006$8,597$7,117
22 years$20,872$16,489$12,900$10,007$7,706$6,309
23 years$19,754$15,422$11,911$9,113$6,917$5,600
24 years$18,730$14,449$11,016$8,312$6,217$4,977
25 years$17,789$13,560$10,203$7,591$5,595$4,428
26 years$16,922$12,744$9,463$6,941$5,039$3,942
27 years$16,121$11,994$8,787$6,353$4,543$3,513
28 years$15,379$11,302$8,168$5,821$4,100$3,133
29 years$14,688$10,662$7,601$5,338$3,702$2,795
30 years$14,045$10,069$7,080$4,899$3,345$2,495
31 years$13,445$9,519$6,601$4,499$3,024$2,229
32 years$12,883$9,006$6,159$4,135$2,736$1,992
33 years$12,357$8,529$5,750$3,802$2,476$1,780
34 years$11,862$8,084$5,373$3,498$2,241$1,592
35 years$11,397$7,667$5,023$3,220$2,030$1,424
36 years$10,959$7,277$4,699$2,966$1,839$1,274
37 years$10,545$6,912$4,398$2,733$1,667$1,141
38 years$10,154$6,569$4,119$2,519$1,511$1,021
39 years$9,784$6,246$3,859$2,322$1,371$914
40 years$9,433$5,943$3,617$2,142$1,243$819
41 years$9,101$5,657$3,392$1,976$1,128$733
42 years$8,785$5,388$3,181$1,824$1,023$657
43 years$8,484$5,133$2,985$1,684$929$588
44 years$8,198$4,893$2,802$1,555$843$527
45 years$7,926$4,666$2,631$1,436$765$472
46 years$7,666$4,451$2,471$1,326$695$423
47 years$7,418$4,248$2,322$1,225$631$379
48 years$7,180$4,055$2,182$1,132$573$340
49 years$6,954$3,872$2,051$1,046$520$305
50 years$6,737$3,699$1,928$967$473$273

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $6,900,000, adding $5,865 every year, while hoping to spend $35,519 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: 52/27/21 Blend
59$6,900,000$6,900,000$6,900,000$6,900,000
60$7,609,850$7,244,150$7,137,200$7,961,088
61$8,348,262$7,561,321$7,338,504$8,520,964
62$9,160,803$7,892,843$7,545,361$9,125,462
63$10,054,994$8,239,382$7,757,921$9,782,242
64$11,039,127$8,601,635$7,976,334$10,496,287
65$12,122,334$8,980,332$8,200,758$11,273,070
66$13,314,681$9,376,237$8,431,352$12,118,610
67$14,627,258$9,790,151$8,668,281$13,039,526
68$16,072,283$10,222,914$8,911,713$14,043,092
69$17,663,221$10,675,402$9,161,821$15,137,313
70$19,414,910$11,148,537$9,418,782$16,330,988
71$21,343,697$11,643,281$9,682,778$17,633,798
72$23,467,597$12,160,645$9,953,994$19,056,393
73$25,806,460$12,701,685$10,232,621$20,610,489
74$28,382,160$13,267,509$10,518,855$22,308,976
75$31,218,800$13,859,277$10,812,897$24,166,038
76$34,342,940$14,478,203$11,114,951$26,197,285
77$37,783,846$15,125,562$11,425,228$28,419,893
78$41,573,770$15,802,685$11,743,944$30,852,768
79$45,748,249$16,510,971$12,071,321$33,516,719
80$50,346,444$17,251,882$12,407,584$36,434,651
81$55,411,509$18,026,952$12,752,965$39,631,776
82$60,990,997$18,837,787$13,107,704$43,135,851
83$67,137,309$19,686,070$13,472,043$46,977,435
84$73,908,190$20,573,563$13,846,232$51,190,170
85$81,367,272$21,502,113$14,230,527$55,811,099
86$89,584,674$22,473,657$14,625,190$60,881,009
87$98,637,666$23,490,222$15,030,489$66,444,811
88$108,611,397$24,553,932$15,446,700$72,551,960
89$119,599,699$25,667,013$15,874,103$79,256,917
90$131,705,970$26,831,799$16,312,987$86,619,658
91$145,044,154$28,050,733$16,763,648$94,706,234
92$159,739,815$29,326,376$17,226,387$103,589,388
93$175,931,320$30,661,412$17,701,515$113,349,237
94$193,771,146$32,058,653$18,189,347$124,074,024
95$213,427,322$33,521,046$18,690,210$135,860,941
96$235,085,011$35,051,679$19,204,434$148,817,039
97$258,948,260$36,653,789$19,732,359$163,060,237
98$285,241,924$38,330,766$20,274,335$178,720,423
99$314,213,791$40,086,164$20,830,716$195,940,672
100$346,136,920$41,923,709$21,401,868$214,878,593