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%19.8%
1 years$586,311$581,089$575,993$571,020$566,164$543,915
2 years$290,253$284,847$279,608$274,529$269,602$247,459
3 years$191,580$186,151$180,925$175,893$171,047$149,707
4 years$142,253$136,841$131,667$126,721$121,992$101,617
5 years$112,665$107,285$102,179$97,334$92,736$73,379
6 years$92,945$87,606$82,576$77,839$73,379$55,052
7 years$78,866$73,571$68,621$63,996$59,677$42,373
8 years$68,311$63,064$58,196$53,684$49,508$33,210
9 years$60,106$54,909$50,124$45,727$41,693$26,377
10 years$53,546$48,399$43,699$39,417$35,524$21,161
11 years$48,182$43,087$38,472$34,305$30,552$17,108
12 years$43,715$38,673$34,143$30,090$26,476$13,915
13 years$39,939$34,949$30,505$26,565$23,087$11,372
14 years$36,704$31,768$27,409$23,581$20,238$9,330
15 years$33,904$29,020$24,746$21,030$17,819$7,678
16 years$31,456$26,625$22,436$18,830$15,749$6,334
17 years$29,298$24,521$20,416$16,919$13,964$5,237
18 years$27,382$22,659$18,637$15,247$12,416$4,336
19 years$25,670$21,000$17,061$13,777$11,067$3,596
20 years$24,131$19,514$15,658$12,478$9,885$2,985
21 years$22,740$18,177$14,402$11,325$8,846$2,480
22 years$21,477$16,967$13,274$10,297$7,929$2,062
23 years$20,326$15,869$12,256$9,377$7,118$1,716
24 years$19,273$14,868$11,335$8,553$6,398$1,429
25 years$18,305$13,953$10,498$7,811$5,757$1,190
26 years$17,413$13,114$9,737$7,142$5,186$992
27 years$16,589$12,341$9,041$6,537$4,675$826
28 years$15,824$11,629$8,405$5,989$4,218$689
29 years$15,114$10,971$7,822$5,492$3,809$574
30 years$14,453$10,361$7,286$5,041$3,442$479
31 years$13,835$9,794$6,792$4,629$3,112$400
32 years$13,257$9,268$6,337$4,255$2,815$333
33 years$12,715$8,777$5,917$3,912$2,547$278
34 years$12,206$8,318$5,529$3,600$2,306$232
35 years$11,728$7,890$5,169$3,314$2,089$194
36 years$11,276$7,488$4,835$3,052$1,893$162
37 years$10,851$7,112$4,526$2,812$1,715$135
38 years$10,448$6,759$4,238$2,592$1,555$113
39 years$10,068$6,427$3,971$2,390$1,410$94
40 years$9,707$6,115$3,722$2,204$1,279$78
41 years$9,364$5,821$3,490$2,034$1,161$65
42 years$9,039$5,544$3,274$1,877$1,053$55
43 years$8,730$5,282$3,072$1,733$956$46
44 years$8,436$5,035$2,883$1,600$867$38
45 years$8,155$4,801$2,707$1,477$788$32
46 years$7,888$4,580$2,543$1,365$715$27
47 years$7,633$4,371$2,389$1,261$649$22
48 years$7,389$4,173$2,245$1,165$590$18
49 years$7,155$3,985$2,110$1,077$536$15
50 years$6,932$3,806$1,984$995$486$13

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 $5,534 every year, while hoping to spend $32,268 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: 48/40/12 Blend
59$7,100,000$7,100,000$7,100,000$7,100,000
60$7,829,908$7,453,608$7,343,558$8,179,576
61$8,594,226$7,784,502$7,555,235$8,751,871
62$9,435,423$8,130,528$7,772,921$9,369,099
63$10,361,306$8,492,394$7,996,783$10,038,537
64$11,380,478$8,870,841$8,226,995$10,765,070
65$12,502,420$9,266,645$8,463,732$11,554,057
66$13,737,575$9,680,618$8,707,175$12,411,389
67$15,097,452$10,113,614$8,957,511$13,343,533
68$16,594,735$10,566,524$9,214,930$14,357,596
69$18,243,397$11,040,282$9,479,629$15,461,387
70$20,058,836$11,535,869$9,751,809$16,663,486
71$22,058,021$12,054,309$10,031,678$17,973,325
72$24,259,647$12,596,679$10,319,447$19,401,272
73$26,684,318$13,164,103$10,615,336$20,958,724
74$29,354,737$13,757,762$10,919,568$22,658,213
75$32,295,919$14,378,892$11,232,373$24,513,518
76$35,535,433$15,028,788$11,553,987$26,539,796
77$39,103,655$15,708,806$11,884,654$28,753,712
78$43,034,060$16,420,369$12,224,621$31,173,603
79$47,363,533$17,164,967$12,574,145$33,819,635
80$52,132,722$17,944,159$12,933,488$36,713,997
81$57,386,420$18,759,583$13,302,920$39,881,103
82$63,173,983$19,612,951$13,682,716$43,347,814
83$69,549,804$20,506,060$14,073,162$47,143,691
84$76,573,819$21,440,792$14,474,547$51,301,262
85$84,312,076$22,419,118$14,887,172$55,856,330
86$92,837,359$23,443,106$15,311,344$60,848,300
87$102,229,872$24,514,921$15,747,376$66,320,545
88$112,578,000$25,636,833$16,195,594$72,320,808
89$123,979,137$26,811,220$16,656,328$78,901,648
90$136,540,614$28,040,574$17,129,920$86,120,926
91$150,380,703$29,327,508$17,616,719$94,042,343
92$165,629,739$30,674,760$18,117,083$102,736,034
93$182,431,348$32,085,199$18,631,381$112,279,222
94$200,943,803$33,561,832$19,159,990$122,756,935
95$221,341,519$35,107,810$19,703,298$134,262,803
96$243,816,698$36,726,436$20,261,702$146,899,928
97$268,581,143$38,421,173$20,835,611$160,781,849
98$295,868,258$40,195,649$21,425,442$176,033,602
99$325,935,252$42,053,668$22,031,626$192,792,890
100$359,065,565$43,999,215$22,654,603$211,211,368