Can I retire at age 60 with 7,900,000?

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 $7,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$652,375$646,564$640,894$635,360$629,957$619,776
2 years$322,958$316,943$311,114$305,462$299,980$289,750
3 years$213,166$207,126$201,311$195,712$190,319$180,360
4 years$158,282$152,259$146,503$141,000$135,737$126,125
5 years$125,359$119,373$113,692$108,301$103,185$93,948
6 years$103,418$97,477$91,880$86,609$81,647$72,795
7 years$87,752$81,861$76,353$71,206$66,401$57,937
8 years$76,008$70,170$64,753$59,733$55,086$47,008
9 years$66,878$61,096$55,772$50,879$46,390$38,695
10 years$59,579$53,853$48,623$43,859$39,527$32,207
11 years$53,611$47,942$42,807$38,170$33,994$27,043
12 years$48,641$43,030$37,990$33,480$29,459$22,867
13 years$44,439$38,887$33,942$29,558$25,689$19,446
14 years$40,840$35,347$30,497$26,238$22,519$16,615
15 years$37,724$32,290$27,535$23,400$19,827$14,252
16 years$35,000$29,626$24,964$20,952$17,523$12,265
17 years$32,599$27,284$22,716$18,825$15,537$10,585
18 years$30,467$25,212$20,737$16,965$13,815$9,156
19 years$28,562$23,366$18,984$15,330$12,314$7,935
20 years$26,850$21,713$17,422$13,884$10,999$6,889
21 years$25,302$20,225$16,025$12,601$9,843$5,990
22 years$23,897$18,879$14,770$11,457$8,823$5,215
23 years$22,617$17,657$13,637$10,434$7,920$4,545
24 years$21,444$16,544$12,612$9,516$7,118$3,965
25 years$20,367$15,525$11,681$8,691$6,405$3,462
26 years$19,375$14,591$10,834$7,947$5,770$3,024
27 years$18,458$13,732$10,060$7,274$5,202$2,644
28 years$17,607$12,940$9,352$6,664$4,694$2,313
29 years$16,817$12,207$8,703$6,111$4,238$2,024
30 years$16,081$11,528$8,107$5,609$3,830$1,772
31 years$15,394$10,898$7,558$5,151$3,462$1,552
32 years$14,751$10,312$7,051$4,734$3,132$1,359
33 years$14,148$9,765$6,584$4,353$2,834$1,191
34 years$13,582$9,255$6,152$4,005$2,566$1,044
35 years$13,049$8,779$5,751$3,687$2,324$915
36 years$12,547$8,332$5,380$3,396$2,106$802
37 years$12,073$7,914$5,036$3,129$1,909$704
38 years$11,626$7,521$4,716$2,884$1,730$617
39 years$11,202$7,152$4,418$2,659$1,569$541
40 years$10,801$6,804$4,141$2,453$1,423$475
41 years$10,420$6,477$3,883$2,263$1,291$417
42 years$10,058$6,168$3,642$2,088$1,172$366
43 years$9,714$5,877$3,418$1,928$1,063$321
44 years$9,386$5,602$3,208$1,780$965$282
45 years$9,074$5,342$3,013$1,644$876$247
46 years$8,777$5,096$2,829$1,518$796$217
47 years$8,493$4,863$2,658$1,403$722$190
48 years$8,221$4,643$2,498$1,296$656$167
49 years$7,962$4,434$2,348$1,198$596$147
50 years$7,713$4,235$2,207$1,107$541$129

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $7,900,000, adding $2,194 every year, while hoping to spend $23,647 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: 69/16/15 Blend
59$7,900,000$7,900,000$7,900,000$7,900,000
60$8,708,063$8,289,363$8,166,913$9,278,611
61$9,571,125$8,670,382$8,415,344$10,039,612
62$10,521,427$9,069,278$8,671,306$10,868,900
63$11,567,843$9,486,902$8,935,024$11,775,618
64$12,720,149$9,924,147$9,206,734$12,767,388
65$13,989,121$10,381,946$9,486,676$13,852,597
66$15,386,631$10,861,281$9,775,099$15,040,474
67$16,925,761$11,363,178$10,072,259$16,341,181
68$18,620,928$11,888,713$10,378,419$17,765,899
69$20,488,017$12,439,014$10,693,850$19,326,941
70$22,544,533$13,015,265$11,018,833$21,037,858
71$24,809,767$13,618,704$11,353,655$22,913,570
72$27,304,974$14,250,631$11,698,613$24,970,505
73$30,053,576$14,912,407$12,054,012$27,226,749
74$33,081,387$15,605,461$12,420,167$29,702,217
75$36,416,848$16,331,288$12,797,403$32,418,837
76$40,091,303$17,091,457$13,186,052$35,400,758
77$44,139,290$17,887,613$13,586,459$38,674,571
78$48,598,869$18,721,478$13,998,977$42,269,561
79$53,511,984$19,594,860$14,423,973$46,217,980
80$58,924,851$20,509,653$14,861,820$50,555,347
81$64,888,401$21,467,842$15,312,907$55,320,783
82$71,458,760$22,471,508$15,777,631$60,557,374
83$78,697,776$23,522,834$16,256,404$66,312,580
84$86,673,603$24,624,107$16,749,648$72,638,672
85$95,461,347$25,777,725$17,257,797$79,593,231
86$105,143,772$26,986,201$17,781,302$87,239,680
87$115,812,084$28,252,172$18,320,623$95,647,883
88$127,566,789$29,578,401$18,876,236$104,894,801
89$140,518,643$30,967,784$19,448,631$115,065,214
90$154,789,697$32,423,358$20,038,312$126,252,514
91$170,514,450$33,948,307$20,645,800$138,559,587
92$187,841,119$35,545,968$21,271,629$152,099,778
93$206,933,035$37,219,843$21,916,351$166,997,952
94$227,970,188$38,973,599$22,580,532$183,391,676
95$251,150,926$40,811,083$23,264,758$201,432,504
96$276,693,823$42,736,330$23,969,631$221,287,408
97$304,839,750$44,753,566$24,695,770$243,140,346
98$335,854,140$46,867,227$25,443,814$267,193,992
99$370,029,502$49,081,960$26,214,421$293,671,646
100$407,688,175$51,402,640$27,008,268$322,819,331