Can I retire at age 60 with 7,400,000?

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 $7,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$611,085$605,642$600,331$595,148$590,086$575,821
2 years$302,517$296,883$291,423$286,129$280,994$266,707
3 years$199,675$194,016$188,570$183,325$178,274$164,413
4 years$148,264$142,623$137,231$132,076$127,146$113,818
5 years$117,425$111,818$106,497$101,447$96,655$83,896
6 years$96,873$91,308$86,065$81,128$76,480$64,303
7 years$82,198$76,680$71,520$66,700$62,198$50,605
8 years$71,197$65,729$60,655$55,953$51,600$40,585
9 years$62,646$57,229$52,242$47,659$43,454$33,010
10 years$55,808$50,444$45,546$41,083$37,025$27,139
11 years$50,218$44,908$40,098$35,754$31,843$22,501
12 years$45,562$40,307$35,586$31,361$27,594$18,781
13 years$41,626$36,426$31,794$27,687$24,063$15,761
14 years$38,255$33,110$28,567$24,578$21,093$13,285
15 years$35,336$30,246$25,792$21,919$18,572$11,239
16 years$32,785$27,751$23,384$19,626$16,414$9,536
17 years$30,536$25,557$21,279$17,634$14,554$8,112
18 years$28,539$23,616$19,425$15,892$12,941$6,915
19 years$26,754$21,887$17,782$14,360$11,534$5,905
20 years$25,150$20,339$16,320$13,005$10,303$5,051
21 years$23,701$18,945$15,011$11,803$9,220$4,325
22 years$22,385$17,684$13,835$10,732$8,264$3,708
23 years$21,185$16,540$12,774$9,774$7,418$3,181
24 years$20,087$15,496$11,814$8,914$6,668$2,732
25 years$19,078$14,543$10,942$8,141$6,000$2,347
26 years$18,149$13,668$10,148$7,444$5,405$2,018
27 years$17,289$12,863$9,423$6,813$4,873$1,736
28 years$16,493$12,121$8,760$6,242$4,397$1,494
29 years$15,753$11,434$8,152$5,724$3,970$1,286
30 years$15,063$10,799$7,594$5,254$3,587$1,108
31 years$14,419$10,208$7,079$4,825$3,243$954
32 years$13,817$9,659$6,605$4,434$2,934$822
33 years$13,252$9,147$6,167$4,078$2,655$708
34 years$12,722$8,670$5,762$3,752$2,404$611
35 years$12,223$8,223$5,387$3,454$2,177$526
36 years$11,753$7,805$5,040$3,181$1,973$454
37 years$11,309$7,413$4,717$2,931$1,788$391
38 years$10,890$7,045$4,417$2,701$1,621$337
39 years$10,493$6,699$4,139$2,491$1,470$291
40 years$10,117$6,373$3,879$2,297$1,333$251
41 years$9,760$6,067$3,637$2,120$1,210$216
42 years$9,421$5,778$3,412$1,956$1,098$187
43 years$9,099$5,505$3,202$1,806$996$161
44 years$8,792$5,248$3,005$1,667$904$139
45 years$8,500$5,004$2,822$1,540$821$120
46 years$8,221$4,774$2,650$1,422$745$103
47 years$7,955$4,556$2,490$1,314$677$89
48 years$7,701$4,349$2,340$1,214$615$77
49 years$7,458$4,153$2,199$1,122$558$66
50 years$7,225$3,967$2,068$1,037$507$57

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $7,400,000, adding $5,562 every year, while hoping to spend $22,537 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: 53/40/7 Blend
59$7,400,000$7,400,000$7,400,000$7,400,000
60$8,160,537$7,768,337$7,653,637$8,579,104
61$8,968,933$8,125,007$7,886,055$9,219,987
62$9,859,029$8,498,397$8,125,503$9,913,912
63$10,839,137$8,889,305$8,372,194$10,668,284
64$11,918,411$9,298,564$8,626,345$11,488,818
65$13,106,943$9,727,047$8,888,181$12,381,789
66$14,415,850$10,175,671$9,157,934$13,354,092
67$15,857,383$10,645,395$9,435,841$14,413,302
68$17,445,043$11,137,226$9,722,148$15,567,745
69$19,193,705$11,652,218$10,017,109$16,826,570
70$21,119,763$12,191,477$10,320,982$18,199,833
71$23,241,280$12,756,161$10,634,036$19,698,592
72$25,578,163$13,347,485$10,956,548$21,335,001
73$28,152,344$13,966,721$11,288,802$23,122,427
74$30,987,997$14,615,203$11,631,090$25,075,567
75$34,111,755$15,294,331$11,983,714$27,210,588
76$37,552,971$16,005,570$12,346,985$29,545,270
77$41,343,988$16,750,457$12,721,223$32,099,172
78$45,520,448$17,530,602$13,106,757$34,893,810
79$50,121,627$18,347,695$13,503,927$37,952,857
80$55,190,807$19,203,506$13,913,082$41,302,361
81$60,775,681$20,099,890$14,334,582$44,970,982
82$66,928,808$21,038,792$14,768,798$48,990,261
83$73,708,105$22,022,251$15,216,112$53,394,907
84$81,177,395$23,052,405$15,676,915$58,223,125
85$89,407,012$24,131,496$16,151,615$63,516,960
86$98,474,460$25,261,872$16,640,627$69,322,698
87$108,465,148$26,445,996$17,144,380$75,691,286
88$119,473,194$27,686,451$17,663,318$82,678,812
89$131,602,315$28,985,943$18,197,894$90,347,020
90$144,966,807$30,347,309$18,748,580$98,763,890
91$159,692,620$31,773,526$19,315,856$108,004,270
92$175,918,551$33,267,713$19,900,221$118,150,569
93$193,797,551$34,833,139$20,502,186$129,293,530
94$213,498,172$36,473,233$21,122,280$141,533,074
95$235,206,153$38,191,590$21,761,044$154,979,231
96$259,126,181$39,991,978$22,419,039$169,753,173
97$285,483,815$41,878,348$23,096,841$185,988,339
98$314,527,621$43,854,844$23,795,042$203,831,689
99$346,531,516$45,925,808$24,514,253$223,445,072
100$381,797,353$48,095,795$25,255,103$245,006,747