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%16.6%
1 years$594,569$589,273$584,106$579,063$574,138$558,673
2 years$294,341$288,859$283,547$278,396$273,399$257,928
3 years$194,278$188,773$183,473$178,371$173,456$158,464
4 years$144,257$138,768$133,522$128,506$123,710$109,312
5 years$114,251$108,796$103,618$98,705$94,042$80,278
6 years$94,255$88,840$83,739$78,935$74,413$61,295
7 years$79,977$74,608$69,587$64,897$60,517$48,048
8 years$69,273$63,953$59,016$54,440$50,205$38,377
9 years$60,953$55,682$50,830$46,371$42,280$31,082
10 years$54,300$49,081$44,315$39,972$36,025$25,443
11 years$48,860$43,694$39,014$34,788$30,982$21,001
12 years$44,331$39,217$34,624$30,514$26,849$17,448
13 years$40,501$35,441$30,934$26,939$23,413$14,574
14 years$37,221$32,215$27,795$23,913$20,523$12,225
15 years$34,381$29,429$25,095$21,327$18,070$10,292
16 years$31,899$27,000$22,752$19,096$15,971$8,689
17 years$29,711$24,866$20,704$17,157$14,161$7,354
18 years$27,768$22,978$18,900$15,462$12,591$6,237
19 years$26,031$21,296$17,302$13,971$11,223$5,298
20 years$24,471$19,789$15,879$12,654$10,024$4,507
21 years$23,060$18,433$14,605$11,484$8,971$3,839
22 years$21,780$17,206$13,461$10,442$8,041$3,273
23 years$20,613$16,092$12,429$9,509$7,218$2,793
24 years$19,544$15,078$11,495$8,673$6,488$2,385
25 years$18,563$14,150$10,646$7,921$5,838$2,038
26 years$17,658$13,298$9,874$7,242$5,259$1,743
27 years$16,822$12,515$9,169$6,629$4,741$1,490
28 years$16,047$11,793$8,524$6,074$4,278$1,275
29 years$15,327$11,125$7,932$5,570$3,863$1,092
30 years$14,656$10,507$7,388$5,112$3,490$935
31 years$14,030$9,932$6,888$4,695$3,156$800
32 years$13,444$9,398$6,427$4,314$2,854$686
33 years$12,894$8,900$6,000$3,968$2,583$587
34 years$12,378$8,435$5,606$3,650$2,339$503
35 years$11,893$8,001$5,242$3,360$2,118$431
36 years$11,435$7,594$4,903$3,095$1,919$370
37 years$11,004$7,212$4,590$2,852$1,740$317
38 years$10,596$6,854$4,298$2,628$1,577$272
39 years$10,209$6,518$4,027$2,423$1,430$233
40 years$9,844$6,201$3,774$2,235$1,297$200
41 years$9,496$5,903$3,539$2,062$1,177$171
42 years$9,167$5,622$3,320$1,903$1,068$147
43 years$8,853$5,356$3,115$1,757$969$126
44 years$8,555$5,106$2,924$1,622$880$108
45 years$8,270$4,869$2,746$1,498$799$93
46 years$7,999$4,645$2,579$1,384$725$79
47 years$7,740$4,432$2,423$1,279$658$68
48 years$7,493$4,231$2,277$1,181$598$58
49 years$7,256$4,041$2,140$1,092$543$50
50 years$7,030$3,860$2,012$1,009$493$43

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 $2,601 every year, while hoping to spend $20,185 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: 78/16/6 Blend
59$7,200,000$7,200,000$7,200,000$7,200,000
60$7,937,083$7,555,483$7,443,883$8,551,867
61$8,725,189$7,904,225$7,671,776$9,304,115
62$9,593,005$8,269,379$7,906,628$10,125,966
63$10,548,640$8,651,727$8,148,649$11,026,636
64$11,601,031$9,052,091$8,398,058$12,013,956
65$12,760,023$9,471,330$8,655,079$13,096,548
66$14,036,466$9,910,346$8,919,945$14,283,905
67$15,442,316$10,370,084$9,192,894$15,586,476
68$16,990,748$10,851,534$9,474,172$17,015,768
69$18,696,280$11,355,735$9,764,032$18,584,449
70$20,574,909$11,883,774$10,062,736$20,306,470
71$22,644,263$12,436,793$10,370,551$22,197,191
72$24,923,770$13,015,987$10,687,756$24,273,528
73$27,434,834$13,622,611$11,014,636$26,554,109
74$30,201,046$14,257,977$11,351,485$29,059,449
75$33,248,398$14,923,464$11,698,605$31,812,142
76$36,605,537$15,620,515$12,056,310$34,837,072
77$40,304,026$16,350,645$12,424,921$38,161,644
78$44,378,650$17,115,440$12,804,769$41,816,045
79$48,867,739$17,916,563$13,196,196$45,833,522
80$53,813,533$18,755,759$13,599,553$50,250,697
81$59,262,578$19,634,857$14,015,203$55,107,910
82$65,266,169$20,555,772$14,443,520$60,449,594
83$71,880,828$21,520,514$14,884,887$66,324,698
84$79,168,843$22,531,191$15,339,702$72,787,140
85$87,198,856$23,590,010$15,808,373$79,896,315
86$96,046,506$24,699,287$16,291,320$87,717,657
87$105,795,147$25,861,449$16,788,977$96,323,247
88$116,536,634$27,079,043$17,301,790$105,792,496
89$128,372,190$28,354,735$17,830,219$116,212,886
90$141,413,361$29,691,324$18,374,739$127,680,798
91$155,783,067$31,091,743$18,935,837$140,302,412
92$171,616,769$32,559,068$19,514,016$154,194,710
93$189,063,739$34,096,521$20,109,795$169,486,577
94$208,288,475$35,707,485$20,723,707$186,320,006
95$229,472,251$37,395,504$21,356,303$204,851,446
96$252,814,830$39,164,293$22,008,149$225,253,261
97$278,536,350$41,017,750$22,679,829$247,715,365
98$306,879,398$42,959,961$23,371,944$272,446,999
99$338,111,306$44,995,208$24,085,113$299,678,707
100$372,526,670$47,127,984$24,819,975$329,664,508