Can I retire at age 60 with 7,100,000?

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 $7,100,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$586,311$581,089$575,993$571,020$566,164$551,582
2 years$290,253$284,847$279,608$274,529$269,602$255,008
3 years$191,580$186,151$180,925$175,893$171,047$156,897
4 years$142,253$136,841$131,667$126,721$121,992$108,395
5 years$112,665$107,285$102,179$97,334$92,736$79,731
6 years$92,945$87,606$82,576$77,839$73,379$60,977
7 years$78,866$73,571$68,621$63,996$59,677$47,880
8 years$68,311$63,064$58,196$53,684$49,508$38,310
9 years$60,106$54,909$50,124$45,727$41,693$31,084
10 years$53,546$48,399$43,699$39,417$35,524$25,492
11 years$48,182$43,087$38,472$34,305$30,552$21,082
12 years$43,715$38,673$34,143$30,090$26,476$17,550
13 years$39,939$34,949$30,505$26,565$23,087$14,689
14 years$36,704$31,768$27,409$23,581$20,238$12,347
15 years$33,904$29,020$24,746$21,030$17,819$10,416
16 years$31,456$26,625$22,436$18,830$15,749$8,813
17 years$29,298$24,521$20,416$16,919$13,964$7,475
18 years$27,382$22,659$18,637$15,247$12,416$6,354
19 years$25,670$21,000$17,061$13,777$11,067$5,410
20 years$24,131$19,514$15,658$12,478$9,885$4,612
21 years$22,740$18,177$14,402$11,325$8,846$3,938
22 years$21,477$16,967$13,274$10,297$7,929$3,365
23 years$20,326$15,869$12,256$9,377$7,118$2,878
24 years$19,273$14,868$11,335$8,553$6,398$2,464
25 years$18,305$13,953$10,498$7,811$5,757$2,110
26 years$17,413$13,114$9,737$7,142$5,186$1,809
27 years$16,589$12,341$9,041$6,537$4,675$1,551
28 years$15,824$11,629$8,405$5,989$4,218$1,330
29 years$15,114$10,971$7,822$5,492$3,809$1,141
30 years$14,453$10,361$7,286$5,041$3,442$980
31 years$13,835$9,794$6,792$4,629$3,112$841
32 years$13,257$9,268$6,337$4,255$2,815$722
33 years$12,715$8,777$5,917$3,912$2,547$620
34 years$12,206$8,318$5,529$3,600$2,306$533
35 years$11,728$7,890$5,169$3,314$2,089$458
36 years$11,276$7,488$4,835$3,052$1,893$393
37 years$10,851$7,112$4,526$2,812$1,715$338
38 years$10,448$6,759$4,238$2,592$1,555$291
39 years$10,068$6,427$3,971$2,390$1,410$250
40 years$9,707$6,115$3,722$2,204$1,279$215
41 years$9,364$5,821$3,490$2,034$1,161$184
42 years$9,039$5,544$3,274$1,877$1,053$159
43 years$8,730$5,282$3,072$1,733$956$136
44 years$8,436$5,035$2,883$1,600$867$117
45 years$8,155$4,801$2,707$1,477$788$101
46 years$7,888$4,580$2,543$1,365$715$87
47 years$7,633$4,371$2,389$1,261$649$74
48 years$7,389$4,173$2,245$1,165$590$64
49 years$7,155$3,985$2,110$1,077$536$55
50 years$6,932$3,806$1,984$995$486$47

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $7,100,000, adding $5,515 every year, while hoping to spend $54,765 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: 62/13/25 Blend
59$7,100,000$7,100,000$7,100,000$7,100,000
60$7,829,889$7,453,589$7,343,539$8,263,082
61$8,570,268$7,760,545$7,531,278$8,864,293
62$9,384,330$8,080,707$7,723,471$9,513,955
63$10,279,533$8,414,663$7,920,208$10,222,115
64$11,264,095$8,763,030$8,121,584$10,994,496
65$12,347,067$9,126,453$8,327,691$11,837,396
66$13,538,424$9,505,605$8,538,625$12,757,746
67$14,849,156$9,901,193$8,754,482$13,763,176
68$16,291,372$10,313,954$8,975,360$14,862,085
69$17,878,413$10,744,659$9,201,356$16,063,720
70$19,624,980$11,194,116$9,432,570$17,378,261
71$21,547,271$11,663,171$9,669,104$18,816,915
72$23,663,133$12,152,706$9,911,059$20,392,025
73$25,992,230$12,663,646$10,158,537$22,117,178
74$28,556,233$13,196,960$10,411,643$24,007,339
75$31,379,016$13,753,659$10,670,481$26,078,986
76$34,486,891$14,334,803$10,935,157$28,350,267
77$37,908,845$14,941,500$11,205,776$30,841,168
78$41,676,824$15,574,911$11,482,447$33,573,700
79$45,826,028$16,236,248$11,765,276$36,572,107
80$50,395,242$16,926,784$12,054,372$39,863,091
81$55,427,207$17,647,847$12,349,844$43,476,063
82$60,969,020$18,400,829$12,651,802$47,443,419
83$67,072,577$19,187,187$12,960,354$51,800,846
84$73,795,066$20,008,445$13,275,612$56,587,652
85$81,199,502$20,866,199$13,597,685$61,847,139
86$89,355,328$21,762,119$13,926,684$67,627,008
87$98,339,062$22,697,953$14,262,718$73,979,808
88$108,235,026$23,675,532$14,605,899$80,963,429
89$119,136,138$24,696,773$14,956,336$88,641,646
90$131,144,789$25,763,679$15,314,138$97,084,719
91$144,373,810$26,878,353$15,679,414$106,370,054
92$158,947,538$28,042,991$16,052,274$116,582,930
93$175,002,985$29,259,896$16,432,823$127,817,302
94$192,691,136$30,531,477$16,821,170$140,176,685
95$212,178,371$31,860,259$17,217,417$153,775,128
96$233,648,034$33,248,881$17,621,671$168,738,287
97$257,302,169$34,700,112$18,034,032$185,204,610
98$283,363,420$36,216,846$18,454,602$203,326,638
99$312,077,136$37,802,119$18,883,478$223,272,442
100$343,713,686$39,459,105$19,320,756$245,227,209