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

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 $6,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$569,796$564,720$559,768$554,935$550,216$538,446
2 years$282,077$276,824$271,732$266,796$262,007$250,207
3 years$186,183$180,907$175,829$170,939$166,228$154,766
4 years$138,246$132,986$127,958$123,152$118,555$107,519
5 years$109,491$104,263$99,301$94,592$90,124$79,544
6 years$90,327$85,138$80,250$75,646$71,312$61,201
7 years$76,644$71,499$66,688$62,193$57,996$48,355
8 years$66,387$61,288$56,557$52,172$48,113$38,939
9 years$58,413$53,362$48,712$44,439$40,518$31,805
10 years$52,037$47,036$42,468$38,307$34,524$26,262
11 years$46,825$41,873$37,389$33,338$29,691$21,871
12 years$42,484$37,583$33,181$29,242$25,730$18,338
13 years$38,814$33,964$29,645$25,817$22,437$15,462
14 years$35,670$30,873$26,637$22,917$19,668$13,095
15 years$32,949$28,203$24,049$20,438$17,317$11,132
16 years$30,570$25,875$21,804$18,300$15,305$9,493
17 years$28,473$23,830$19,841$16,442$13,571$8,116
18 years$26,611$22,020$18,112$14,818$12,066$6,954
19 years$24,947$20,408$16,581$13,389$10,755$5,970
20 years$23,451$18,964$15,217$12,127$9,607$5,133
21 years$22,099$17,665$13,997$11,006$8,597$4,419
22 years$20,872$16,489$12,900$10,007$7,706$3,809
23 years$19,754$15,422$11,911$9,113$6,917$3,286
24 years$18,730$14,449$11,016$8,312$6,217$2,837
25 years$17,789$13,560$10,203$7,591$5,595$2,452
26 years$16,922$12,744$9,463$6,941$5,039$2,120
27 years$16,121$11,994$8,787$6,353$4,543$1,834
28 years$15,379$11,302$8,168$5,821$4,100$1,587
29 years$14,688$10,662$7,601$5,338$3,702$1,374
30 years$14,045$10,069$7,080$4,899$3,345$1,190
31 years$13,445$9,519$6,601$4,499$3,024$1,031
32 years$12,883$9,006$6,159$4,135$2,736$894
33 years$12,357$8,529$5,750$3,802$2,476$775
34 years$11,862$8,084$5,373$3,498$2,241$672
35 years$11,397$7,667$5,023$3,220$2,030$582
36 years$10,959$7,277$4,699$2,966$1,839$505
37 years$10,545$6,912$4,398$2,733$1,667$438
38 years$10,154$6,569$4,119$2,519$1,511$380
39 years$9,784$6,246$3,859$2,322$1,371$330
40 years$9,433$5,943$3,617$2,142$1,243$286
41 years$9,101$5,657$3,392$1,976$1,128$248
42 years$8,785$5,388$3,181$1,824$1,023$215
43 years$8,484$5,133$2,985$1,684$929$187
44 years$8,198$4,893$2,802$1,555$843$162
45 years$7,926$4,666$2,631$1,436$765$141
46 years$7,666$4,451$2,471$1,326$695$122
47 years$7,418$4,248$2,322$1,225$631$106
48 years$7,180$4,055$2,182$1,132$573$92
49 years$6,954$3,872$2,051$1,046$520$80
50 years$6,737$3,699$1,928$967$473$69

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 $3,799 every year, while hoping to spend $29,330 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: 66/15/19 Blend
59$6,900,000$6,900,000$6,900,000$6,900,000
60$7,607,719$7,242,019$7,135,069$8,073,538
61$8,352,499$7,565,671$7,342,887$8,709,813
62$9,172,264$7,904,199$7,556,683$9,401,373
63$10,074,631$8,258,300$7,776,628$10,156,673
64$11,067,994$8,628,707$8,002,896$10,981,964
65$12,161,600$9,016,185$8,235,664$11,884,131
66$13,365,642$9,421,537$8,475,117$12,870,747
67$14,691,348$9,845,603$8,721,444$13,950,149
68$16,151,092$10,289,264$8,974,839$15,131,514
69$17,758,509$10,753,443$9,235,501$16,424,943
70$19,528,622$11,239,107$9,503,636$17,841,555
71$21,477,987$11,747,269$9,779,453$19,393,593
72$23,624,847$12,278,990$10,063,170$21,094,534
73$25,989,304$12,835,383$10,355,009$22,959,219
74$28,593,509$13,417,614$10,655,198$25,003,985
75$31,461,872$14,026,902$10,963,973$27,246,826
76$34,621,291$14,664,528$11,281,573$29,707,554
77$38,101,405$15,331,832$11,608,249$32,407,985
78$41,934,876$16,030,220$11,944,253$35,372,147
79$46,157,696$16,761,163$12,289,847$38,626,500
80$50,809,525$17,526,204$12,645,302$42,200,186
81$55,934,069$18,326,960$13,010,892$46,125,301
82$61,579,489$19,165,126$13,386,901$50,437,196
83$67,798,856$20,042,476$13,773,621$55,174,808
84$74,650,653$20,960,872$14,171,352$60,381,024
85$82,199,328$21,922,262$14,580,400$66,103,087
86$90,515,898$22,928,692$15,001,082$72,393,031
87$99,678,624$23,982,302$15,433,723$79,308,179
88$109,773,746$25,085,337$15,878,655$86,911,673
89$120,896,300$26,240,151$16,336,221$95,273,073
90$133,151,011$27,449,207$16,806,774$104,469,005
91$146,653,287$28,715,090$17,290,673$114,583,883
92$161,530,302$30,040,510$17,788,291$125,710,705
93$177,922,202$31,428,304$18,300,007$137,951,923
94$195,983,423$32,881,448$18,826,215$151,420,406
95$215,884,154$34,403,060$19,367,314$166,240,506
96$237,811,937$35,996,409$19,923,719$182,549,222
97$261,973,444$37,664,922$20,495,852$200,497,492
98$288,596,422$39,412,190$21,084,150$220,251,614
99$317,931,847$41,241,978$21,689,059$241,994,806
100$350,256,291$43,158,230$22,311,038$265,928,937