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

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 $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%20%
1 years$586,311$581,089$575,993$571,020$566,164$543,486
2 years$290,253$284,847$279,608$274,529$269,602$247,039
3 years$191,580$186,151$180,925$175,893$171,047$149,309
4 years$142,253$136,841$131,667$126,721$121,992$101,246
5 years$112,665$107,285$102,179$97,334$92,736$73,034
6 years$92,945$87,606$82,576$77,839$73,379$54,732
7 years$78,866$73,571$68,621$63,996$59,677$42,079
8 years$68,311$63,064$58,196$53,684$49,508$32,940
9 years$60,106$54,909$50,124$45,727$41,693$26,131
10 years$53,546$48,399$43,699$39,417$35,524$20,937
11 years$48,182$43,087$38,472$34,305$30,552$16,904
12 years$43,715$38,673$34,143$30,090$26,476$13,731
13 years$39,939$34,949$30,505$26,565$23,087$11,207
14 years$36,704$31,768$27,409$23,581$20,238$9,181
15 years$33,904$29,020$24,746$21,030$17,819$7,545
16 years$31,456$26,625$22,436$18,830$15,749$6,215
17 years$29,298$24,521$20,416$16,919$13,964$5,131
18 years$27,382$22,659$18,637$15,247$12,416$4,242
19 years$25,670$21,000$17,061$13,777$11,067$3,512
20 years$24,131$19,514$15,658$12,478$9,885$2,911
21 years$22,740$18,177$14,402$11,325$8,846$2,415
22 years$21,477$16,967$13,274$10,297$7,929$2,005
23 years$20,326$15,869$12,256$9,377$7,118$1,666
24 years$19,273$14,868$11,335$8,553$6,398$1,385
25 years$18,305$13,953$10,498$7,811$5,757$1,151
26 years$17,413$13,114$9,737$7,142$5,186$958
27 years$16,589$12,341$9,041$6,537$4,675$797
28 years$15,824$11,629$8,405$5,989$4,218$663
29 years$15,114$10,971$7,822$5,492$3,809$552
30 years$14,453$10,361$7,286$5,041$3,442$460
31 years$13,835$9,794$6,792$4,629$3,112$383
32 years$13,257$9,268$6,337$4,255$2,815$319
33 years$12,715$8,777$5,917$3,912$2,547$266
34 years$12,206$8,318$5,529$3,600$2,306$221
35 years$11,728$7,890$5,169$3,314$2,089$184
36 years$11,276$7,488$4,835$3,052$1,893$154
37 years$10,851$7,112$4,526$2,812$1,715$128
38 years$10,448$6,759$4,238$2,592$1,555$107
39 years$10,068$6,427$3,971$2,390$1,410$89
40 years$9,707$6,115$3,722$2,204$1,279$74
41 years$9,364$5,821$3,490$2,034$1,161$62
42 years$9,039$5,544$3,274$1,877$1,053$51
43 years$8,730$5,282$3,072$1,733$956$43
44 years$8,436$5,035$2,883$1,600$867$36
45 years$8,155$4,801$2,707$1,477$788$30
46 years$7,888$4,580$2,543$1,365$715$25
47 years$7,633$4,371$2,389$1,261$649$21
48 years$7,389$4,173$2,245$1,165$590$17
49 years$7,155$3,985$2,110$1,077$536$14
50 years$6,932$3,806$1,984$995$486$12

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 $3,619 every year, while hoping to spend $36,883 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: 57/38/5 Blend
59$7,100,000$7,100,000$7,100,000$7,100,000
60$7,827,933$7,451,633$7,341,583$8,266,491
61$8,587,139$7,777,520$7,548,283$8,887,336
62$9,422,548$8,118,139$7,760,671$9,558,939
63$10,341,893$8,474,173$7,978,899$10,289,716
64$11,353,696$8,846,338$8,203,122$11,085,313
65$12,467,347$9,235,382$8,433,500$11,951,933
66$13,693,191$9,642,090$8,670,197$12,896,397
67$15,042,627$10,067,283$8,913,379$13,926,202
68$16,528,216$10,511,821$9,163,219$15,049,590
69$18,163,800$10,976,606$9,419,892$16,275,622
70$19,964,629$11,462,581$9,683,580$17,614,264
71$21,947,508$11,970,735$9,954,467$19,076,477
72$24,130,956$12,502,103$10,232,744$20,674,313
73$26,535,376$13,057,769$10,518,603$22,421,034
74$29,183,254$13,638,869$10,812,246$24,331,224
75$32,099,365$14,246,593$11,113,876$26,420,933
76$35,311,011$14,882,187$11,423,701$28,707,817
77$38,848,277$15,546,957$11,741,938$31,211,305
78$42,744,314$16,242,270$12,068,805$33,952,777
79$47,035,652$16,969,559$12,404,528$36,955,763
80$51,762,546$17,730,325$12,749,337$40,246,158
81$56,969,355$18,526,140$13,103,469$43,852,466
82$62,704,959$19,358,651$13,467,166$47,806,058
83$69,023,225$20,229,585$13,840,676$52,141,472
84$75,983,508$21,140,748$14,224,252$56,896,725
85$83,651,217$22,094,036$14,618,156$62,113,673
86$92,098,430$23,091,433$15,022,653$67,838,394
87$101,404,574$24,135,018$15,438,017$74,121,624
88$111,657,177$25,226,970$15,864,527$81,019,225
89$122,952,690$26,369,572$16,302,469$88,592,707
90$135,397,398$27,565,216$16,752,136$96,909,801
91$149,108,429$28,816,407$17,213,828$106,045,094
92$164,214,850$30,125,772$17,687,853$116,080,721
93$180,858,893$31,496,063$18,174,524$127,107,138
94$199,197,293$32,930,164$18,674,164$139,223,962
95$219,402,770$34,431,095$19,187,102$152,540,908
96$241,665,657$36,002,023$19,713,675$167,178,811
97$266,195,699$37,646,267$20,254,227$183,270,760
98$293,224,030$39,367,304$20,809,113$200,963,345
99$323,005,356$41,168,777$21,378,694$220,418,028
100$355,820,360$43,054,505$21,963,338$241,812,661