Can I retire at age 60 with 7,300,000?

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 $7,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$602,827$597,458$592,219$587,105$582,112$567,809
2 years$298,429$292,871$287,485$282,262$277,196$262,875
3 years$196,977$191,395$186,022$180,848$175,865$161,972
4 years$146,260$140,695$135,376$130,291$125,428$112,071
5 years$115,838$110,307$105,057$100,076$95,349$82,565
6 years$95,564$90,074$84,902$80,031$75,446$63,248
7 years$81,087$75,644$70,554$65,798$61,358$49,747
8 years$70,235$64,841$59,835$55,197$50,902$39,874
9 years$61,799$56,456$51,536$47,015$42,867$32,412
10 years$55,054$49,763$44,930$40,528$36,525$26,631
11 years$49,539$44,301$39,556$35,271$31,413$22,066
12 years$44,947$39,762$35,105$30,938$27,221$18,405
13 years$41,064$35,933$31,364$27,313$23,738$15,435
14 years$37,738$32,662$28,181$24,246$20,808$13,002
15 years$34,859$29,838$25,443$21,623$18,321$10,991
16 years$32,342$27,376$23,068$19,361$16,192$9,320
17 years$30,123$25,212$20,991$17,396$14,357$7,922
18 years$28,153$23,297$19,162$15,677$12,766$6,748
19 years$26,393$21,591$17,542$14,165$11,378$5,759
20 years$24,810$20,064$16,099$12,830$10,163$4,921
21 years$23,381$18,689$14,808$11,644$9,095$4,211
22 years$22,082$17,445$13,648$10,587$8,153$3,607
23 years$20,899$16,316$12,602$9,642$7,318$3,093
24 years$19,816$15,287$11,654$8,794$6,578$2,654
25 years$18,821$14,346$10,794$8,031$5,919$2,278
26 years$17,904$13,483$10,011$7,343$5,332$1,957
27 years$17,056$12,689$9,296$6,721$4,807$1,682
28 years$16,270$11,957$8,642$6,158$4,337$1,447
29 years$15,540$11,280$8,042$5,647$3,916$1,244
30 years$14,860$10,653$7,491$5,183$3,539$1,071
31 years$14,225$10,070$6,984$4,760$3,199$922
32 years$13,630$9,529$6,516$4,374$2,894$793
33 years$13,073$9,024$6,084$4,023$2,619$683
34 years$12,550$8,552$5,684$3,701$2,371$588
35 years$12,058$8,112$5,314$3,407$2,148$507
36 years$11,594$7,699$4,972$3,138$1,946$436
37 years$11,156$7,313$4,653$2,891$1,764$376
38 years$10,743$6,950$4,358$2,665$1,599$324
39 years$10,351$6,608$4,083$2,457$1,450$279
40 years$9,980$6,287$3,827$2,266$1,315$241
41 years$9,628$5,985$3,588$2,091$1,193$207
42 years$9,294$5,700$3,366$1,930$1,083$179
43 years$8,976$5,431$3,158$1,781$983$154
44 years$8,673$5,177$2,965$1,645$892$133
45 years$8,385$4,936$2,784$1,519$810$114
46 years$8,110$4,709$2,615$1,403$735$99
47 years$7,848$4,494$2,456$1,296$668$85
48 years$7,597$4,290$2,308$1,198$606$73
49 years$7,357$4,097$2,170$1,107$551$63
50 years$7,127$3,913$2,040$1,023$500$54

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $7,300,000, adding $4,666 every year, while hoping to spend $37,699 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: 47/33/20 Blend
59$7,300,000$7,300,000$7,300,000$7,300,000
60$8,049,413$7,662,513$7,549,363$8,381,758
61$8,830,342$7,997,865$7,762,155$8,949,486
62$9,689,662$8,348,385$7,980,812$9,561,187
63$10,635,329$8,714,778$8,205,491$10,224,354
64$11,676,110$9,097,779$8,436,353$10,943,814
65$12,821,664$9,498,161$8,673,561$11,724,871
66$14,082,633$9,916,731$8,917,286$12,573,354
67$15,470,747$10,354,336$9,167,700$13,495,664
68$16,998,926$10,811,861$9,424,980$14,498,838
69$18,681,409$11,290,235$9,689,310$15,590,611
70$20,533,887$11,790,431$9,960,876$16,779,483
71$22,573,647$12,313,465$10,239,869$18,074,801
72$24,819,739$12,860,405$10,526,485$19,486,842
73$27,293,156$13,432,368$10,820,925$21,026,906
74$30,017,028$14,030,524$11,123,396$22,707,423
75$33,016,843$14,656,099$11,434,109$24,542,061
76$36,320,690$15,310,376$11,753,280$26,545,857
77$39,959,517$15,994,702$12,081,132$28,735,353
78$43,967,429$16,710,483$12,417,891$31,128,748
79$48,382,007$17,459,197$12,763,791$33,746,066
80$53,244,664$18,242,391$13,119,070$36,609,342
81$58,601,035$19,061,682$13,483,974$39,742,821
82$64,501,406$19,918,770$13,858,752$43,173,191
83$71,001,191$20,815,432$14,243,662$46,929,819
84$78,161,455$21,753,530$14,638,967$51,045,034
85$86,049,487$22,735,017$15,044,936$55,554,419
86$94,739,438$23,761,936$15,461,845$60,497,145
87$104,313,021$24,836,431$15,889,977$65,916,333
88$114,860,280$25,960,747$16,329,622$71,859,460
89$126,480,439$27,137,235$16,781,075$78,378,792
90$139,282,844$28,368,359$17,244,642$85,531,881
91$153,387,989$29,656,703$17,720,631$93,382,092
92$168,928,654$31,004,972$18,209,363$101,999,202
93$186,051,163$32,416,002$18,711,163$111,460,047
94$204,916,759$33,892,763$19,226,364$121,849,237
95$225,703,129$35,438,370$19,755,308$133,259,954
96$248,606,082$37,056,084$20,298,345$145,794,817
97$273,841,396$38,749,325$20,855,833$159,566,842
98$301,646,852$40,521,676$21,428,137$174,700,503
99$332,284,485$42,376,892$22,015,633$191,332,896
100$366,043,050$44,318,907$22,618,705$209,615,020