Can I retire at age 60 with 7,200,000?

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 $7,200,000?

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$594,569$589,273$584,106$579,063$574,138$551,141
2 years$294,341$288,859$283,547$278,396$273,399$250,519
3 years$194,278$188,773$183,473$178,371$173,456$151,412
4 years$144,257$138,768$133,522$128,506$123,710$102,672
5 years$114,251$108,796$103,618$98,705$94,042$74,062
6 years$94,255$88,840$83,739$78,935$74,413$55,503
7 years$79,977$74,608$69,587$64,897$60,517$42,671
8 years$69,273$63,953$59,016$54,440$50,205$33,404
9 years$60,953$55,682$50,830$46,371$42,280$26,499
10 years$54,300$49,081$44,315$39,972$36,025$21,231
11 years$48,860$43,694$39,014$34,788$30,982$17,143
12 years$44,331$39,217$34,624$30,514$26,849$13,925
13 years$40,501$35,441$30,934$26,939$23,413$11,365
14 years$37,221$32,215$27,795$23,913$20,523$9,310
15 years$34,381$29,429$25,095$21,327$18,070$7,651
16 years$31,899$27,000$22,752$19,096$15,971$6,303
17 years$29,711$24,866$20,704$17,157$14,161$5,203
18 years$27,768$22,978$18,900$15,462$12,591$4,302
19 years$26,031$21,296$17,302$13,971$11,223$3,562
20 years$24,471$19,789$15,879$12,654$10,024$2,952
21 years$23,060$18,433$14,605$11,484$8,971$2,449
22 years$21,780$17,206$13,461$10,442$8,041$2,033
23 years$20,613$16,092$12,429$9,509$7,218$1,689
24 years$19,544$15,078$11,495$8,673$6,488$1,404
25 years$18,563$14,150$10,646$7,921$5,838$1,168
26 years$17,658$13,298$9,874$7,242$5,259$971
27 years$16,822$12,515$9,169$6,629$4,741$808
28 years$16,047$11,793$8,524$6,074$4,278$673
29 years$15,327$11,125$7,932$5,570$3,863$560
30 years$14,656$10,507$7,388$5,112$3,490$466
31 years$14,030$9,932$6,888$4,695$3,156$388
32 years$13,444$9,398$6,427$4,314$2,854$323
33 years$12,894$8,900$6,000$3,968$2,583$269
34 years$12,378$8,435$5,606$3,650$2,339$224
35 years$11,893$8,001$5,242$3,360$2,118$187
36 years$11,435$7,594$4,903$3,095$1,919$156
37 years$11,004$7,212$4,590$2,852$1,740$130
38 years$10,596$6,854$4,298$2,628$1,577$108
39 years$10,209$6,518$4,027$2,423$1,430$90
40 years$9,844$6,201$3,774$2,235$1,297$75
41 years$9,496$5,903$3,539$2,062$1,177$63
42 years$9,167$5,622$3,320$1,903$1,068$52
43 years$8,853$5,356$3,115$1,757$969$43
44 years$8,555$5,106$2,924$1,622$880$36
45 years$8,270$4,869$2,746$1,498$799$30
46 years$7,999$4,645$2,579$1,384$725$25
47 years$7,740$4,432$2,423$1,279$658$21
48 years$7,493$4,231$2,277$1,181$598$17
49 years$7,256$4,041$2,140$1,092$543$15
50 years$7,030$3,860$2,012$1,009$493$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $7,200,000, adding $4,663 every year, while hoping to spend $58,484 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: 49/26/25 Blend
59$7,200,000$7,200,000$7,200,000$7,200,000
60$7,939,210$7,557,610$7,446,010$8,271,798
61$8,686,783$7,865,706$7,633,225$8,812,640
62$9,508,648$8,186,939$7,824,751$9,393,669
63$10,412,322$8,521,891$8,020,672$10,023,754
64$11,406,084$8,871,169$8,221,070$10,707,554
65$12,499,059$9,235,411$8,426,031$11,450,192
66$13,701,299$9,615,282$8,635,638$12,257,299
67$15,023,878$10,011,477$8,849,979$13,135,066
68$16,478,999$10,424,725$9,069,139$14,090,305
69$18,080,108$10,855,787$9,293,205$15,130,506
70$19,842,017$11,305,459$9,522,266$16,263,907
71$21,781,049$11,774,573$9,756,408$17,499,573
72$23,915,190$12,264,001$9,995,722$18,847,476
73$26,264,257$12,774,654$10,240,296$20,318,588
74$28,850,084$13,307,485$10,490,219$21,924,983
75$31,696,732$13,863,492$10,745,580$23,679,949
76$34,830,712$14,443,716$11,006,471$25,598,109
77$38,281,237$15,049,251$11,272,980$27,695,558
78$42,080,496$15,681,237$11,545,198$29,990,013
79$46,263,959$16,340,870$11,823,214$32,500,976
80$50,870,709$17,029,398$12,107,118$35,249,915
81$55,943,814$17,748,132$12,396,999$38,260,467
82$61,530,731$18,498,438$12,692,947$41,558,654
83$67,683,754$19,281,750$12,995,049$45,173,127
84$74,460,508$20,099,567$13,303,393$49,135,433
85$81,924,490$20,953,456$13,618,067$53,480,312
86$90,145,672$21,845,059$13,939,157$58,246,017
87$99,201,159$22,776,095$14,266,747$63,474,673
88$109,175,914$23,748,361$14,600,920$69,212,672
89$120,163,567$24,763,740$14,941,760$75,511,106
90$132,267,289$25,824,202$15,289,347$82,426,243
91$145,600,772$26,931,807$15,643,760$90,020,060
92$160,289,301$28,088,716$16,005,076$98,360,815
93$176,470,932$29,297,186$16,373,369$107,523,693
94$194,297,803$30,559,583$16,748,712$117,591,508
95$213,937,559$31,878,383$17,131,174$128,655,479
96$235,574,943$33,256,177$17,520,822$140,816,089
97$259,413,538$34,695,680$17,917,720$154,184,024
98$285,677,682$36,199,732$18,321,927$168,881,215
99$314,614,594$37,771,307$18,733,500$185,041,979
100$346,496,701$39,413,519$19,152,490$202,814,286