Can I retire at age 60 with 8,300,000?

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 $8,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$685,406$679,301$673,344$667,531$661,854$641,953
2 years$339,310$332,991$326,866$320,928$315,168$295,287
3 years$223,960$217,613$211,504$205,622$199,956$180,716
4 years$166,296$159,969$153,921$148,139$142,610$124,160
5 years$131,707$125,417$119,449$113,785$108,410$90,799
6 years$108,655$102,413$96,532$90,995$85,781$69,026
7 years$92,195$86,006$80,219$74,812$69,763$53,862
8 years$79,857$73,723$68,032$62,758$57,875$42,819
9 years$70,265$64,189$58,596$53,456$48,739$34,512
10 years$62,596$56,580$51,085$46,079$41,528$28,110
11 years$56,325$50,370$44,975$40,103$35,716$23,083
12 years$51,104$45,209$39,914$35,176$30,950$19,077
13 years$46,689$40,856$35,660$31,055$26,989$15,849
14 years$42,908$37,137$32,041$27,567$23,659$13,222
15 years$39,634$33,925$28,929$24,585$20,831$11,068
16 years$36,772$31,126$26,228$22,013$18,411$9,291
17 years$34,250$28,665$23,867$19,779$16,324$7,818
18 years$32,010$26,488$21,787$17,824$14,515$6,591
19 years$30,008$24,549$19,945$16,106$12,937$5,565
20 years$28,209$22,812$18,305$14,587$11,556$4,706
21 years$26,583$21,249$16,837$13,239$10,341$3,983
22 years$25,107$19,835$15,518$12,037$9,269$3,375
23 years$23,762$18,551$14,328$10,962$8,321$2,862
24 years$22,530$17,381$13,251$9,998$7,479$2,429
25 years$21,399$16,311$12,273$9,131$6,730$2,062
26 years$20,356$15,330$11,382$8,349$6,062$1,752
27 years$19,392$14,427$10,570$7,642$5,465$1,489
28 years$18,499$13,595$9,826$7,002$4,931$1,265
29 years$17,669$12,825$9,144$6,421$4,453$1,076
30 years$16,895$12,112$8,517$5,893$4,024$915
31 years$16,173$11,450$7,940$5,412$3,638$779
32 years$15,497$10,834$7,408$4,974$3,291$663
33 years$14,864$10,260$6,917$4,574$2,978$564
34 years$14,269$9,724$6,463$4,208$2,696$480
35 years$13,710$9,223$6,042$3,874$2,442$409
36 years$13,182$8,754$5,653$3,568$2,213$348
37 years$12,685$8,314$5,291$3,287$2,005$296
38 years$12,214$7,902$4,955$3,030$1,818$252
39 years$11,769$7,514$4,642$2,794$1,649$215
40 years$11,347$7,149$4,351$2,577$1,495$183
41 years$10,947$6,805$4,080$2,377$1,357$156
42 years$10,567$6,481$3,827$2,194$1,231$133
43 years$10,206$6,175$3,591$2,025$1,117$113
44 years$9,862$5,886$3,371$1,870$1,014$96
45 years$9,534$5,613$3,165$1,727$921$82
46 years$9,221$5,354$2,973$1,595$836$70
47 years$8,923$5,110$2,793$1,474$759$59
48 years$8,637$4,878$2,624$1,362$689$51
49 years$8,365$4,658$2,467$1,259$626$43
50 years$8,104$4,450$2,319$1,163$569$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $8,300,000, adding $5,442 every year, while hoping to spend $21,152 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: 45/47/8 Blend
59$8,300,000$8,300,000$8,300,000$8,300,000
60$9,152,213$8,712,313$8,583,663$9,543,310
61$10,063,234$9,116,711$8,848,711$10,218,393
62$11,066,469$9,540,216$9,121,928$10,947,338
63$12,171,303$9,983,740$9,403,567$11,737,234
64$13,388,076$10,448,244$9,693,886$12,593,704
65$14,728,182$10,934,729$9,993,153$13,522,913
66$16,204,175$11,444,251$10,301,643$14,531,631
67$17,829,893$11,977,910$10,619,640$15,627,286
68$19,620,580$12,536,866$10,947,435$16,818,033
69$21,593,035$13,122,329$11,285,331$18,112,825
70$23,765,773$13,735,571$11,633,638$19,521,495
71$26,159,193$14,377,925$11,992,676$21,054,844
72$28,795,775$15,050,788$12,362,775$22,724,736
73$31,700,291$15,755,624$12,744,275$24,544,205
74$34,900,040$16,493,968$13,137,527$26,527,573
75$38,425,102$17,267,430$13,542,892$28,690,583
76$42,308,625$18,077,697$13,960,742$31,050,535
77$46,587,139$18,926,539$14,391,461$33,626,447
78$51,300,898$19,815,809$14,835,445$36,439,229
79$56,494,258$20,747,453$15,293,101$39,511,869
80$62,216,102$21,723,508$15,764,850$42,869,649
81$68,520,297$22,746,112$16,251,125$46,540,370
82$75,466,201$23,817,505$16,752,371$50,554,611
83$83,119,227$24,940,037$17,269,050$54,946,005
84$91,551,460$26,116,170$17,801,634$59,751,552
85$100,842,334$27,348,487$18,350,614$65,011,959
86$111,079,384$28,639,695$18,916,492$70,772,011
87$122,359,074$29,992,634$19,499,787$77,080,985
88$134,787,705$31,410,278$20,101,036$83,993,109
89$148,482,419$32,895,749$20,720,788$91,568,058
90$163,572,303$34,452,319$21,359,612$99,871,506
91$180,199,614$36,083,418$22,018,095$108,975,738
92$198,521,112$37,792,643$22,696,839$118,960,316
93$218,709,549$39,583,766$23,396,466$129,912,818
94$240,955,295$41,460,742$24,117,619$141,929,650
95$265,468,133$43,427,717$24,860,958$155,116,944
96$292,479,246$45,489,038$25,627,163$169,591,544
97$322,243,393$47,649,265$26,416,937$185,482,091
98$355,041,319$49,913,179$27,231,004$202,930,221
99$391,182,399$52,285,790$28,070,108$222,091,888
100$431,007,566$54,772,356$28,935,019$243,138,816