Can I retire at age 60 with 8,400,000?

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 $8,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$693,664$687,485$681,457$675,573$669,828$650,996
2 years$343,398$337,003$330,804$324,795$318,966$300,136
3 years$226,658$220,235$214,052$208,099$202,365$184,128
4 years$168,299$161,896$155,775$149,924$144,328$126,824
5 years$133,293$126,928$120,888$115,156$109,716$92,992
6 years$109,964$103,647$97,695$92,091$86,815$70,886
7 years$93,306$87,042$81,185$75,713$70,604$55,471
8 years$80,819$74,611$68,852$63,514$58,572$44,228
9 years$71,111$64,963$59,302$54,100$49,326$35,756
10 years$63,350$57,261$51,701$46,634$42,029$29,214
11 years$57,004$50,976$45,517$40,586$36,146$24,067
12 years$51,719$45,754$40,395$35,599$31,323$19,957
13 years$47,251$41,348$36,090$31,429$27,315$16,635
14 years$43,425$37,584$32,427$27,899$23,944$13,926
15 years$40,111$34,334$29,277$24,881$21,082$11,699
16 years$37,215$31,501$26,544$22,278$18,632$9,856
17 years$34,662$29,011$24,154$20,017$16,521$8,323
18 years$32,396$26,807$22,050$18,039$14,689$7,043
19 years$30,370$24,845$20,185$16,300$13,093$5,969
20 years$28,549$23,087$18,525$14,763$11,695$5,067
21 years$26,904$21,505$17,040$13,398$10,466$4,306
22 years$25,410$20,074$15,705$12,182$9,381$3,662
23 years$24,048$18,775$14,500$11,094$8,421$3,118
24 years$22,802$17,591$13,410$10,119$7,569$2,656
25 years$21,656$16,508$12,421$9,241$6,811$2,264
26 years$20,601$15,515$11,520$8,449$6,135$1,931
27 years$19,626$14,601$10,697$7,734$5,531$1,648
28 years$18,722$13,759$9,944$7,086$4,991$1,407
29 years$17,882$12,980$9,254$6,498$4,507$1,201
30 years$17,099$12,258$8,620$5,964$4,072$1,026
31 years$16,368$11,588$8,036$5,477$3,682$876
32 years$15,684$10,964$7,498$5,034$3,330$749
33 years$15,043$10,383$7,001$4,629$3,014$640
34 years$14,441$9,841$6,541$4,259$2,729$547
35 years$13,875$9,334$6,115$3,921$2,471$468
36 years$13,341$8,860$5,721$3,611$2,239$400
37 years$12,837$8,415$5,354$3,327$2,030$342
38 years$12,361$7,997$5,014$3,066$1,840$292
39 years$11,911$7,604$4,698$2,827$1,669$250
40 years$11,484$7,235$4,403$2,608$1,513$214
41 years$11,079$6,887$4,129$2,406$1,373$183
42 years$10,694$6,559$3,873$2,221$1,246$156
43 years$10,329$6,249$3,634$2,050$1,131$134
44 years$9,980$5,957$3,411$1,893$1,026$114
45 years$9,649$5,680$3,203$1,748$932$98
46 years$9,332$5,419$3,009$1,615$846$84
47 years$9,030$5,171$2,826$1,492$768$72
48 years$8,741$4,937$2,656$1,378$698$61
49 years$8,465$4,714$2,497$1,274$634$52
50 years$8,201$4,503$2,347$1,177$575$45

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $8,400,000, adding $4,464 every year, while hoping to spend $49,646 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: 69/8/23 Blend
59$8,400,000$8,400,000$8,400,000$8,400,000
60$9,261,405$8,816,205$8,686,005$9,846,372
61$10,153,245$9,195,376$8,924,163$10,617,650
62$11,134,389$9,591,462$9,168,635$11,455,181
63$12,213,893$10,005,241$9,419,581$12,370,531
64$13,401,737$10,437,524$9,677,164$13,371,394
65$14,708,914$10,889,163$9,941,549$14,466,243
66$16,147,540$11,361,048$10,212,907$15,664,403
67$17,730,963$11,854,113$10,491,413$16,976,146
68$19,473,890$12,369,334$10,777,245$18,412,778
69$21,392,529$12,907,733$11,070,584$19,986,753
70$23,504,736$13,470,381$11,371,618$21,711,783
71$25,830,189$14,058,400$11,680,537$23,602,969
72$28,390,569$14,672,962$11,997,536$25,676,943
73$31,209,768$15,315,298$12,322,814$27,952,022
74$34,314,110$15,986,693$12,656,574$30,448,380
75$37,732,605$16,688,497$12,999,026$33,188,237
76$41,497,218$17,422,121$13,350,380$36,196,069
77$45,643,172$18,189,043$13,710,856$39,498,834
78$50,209,281$18,990,811$14,080,675$43,126,228
79$55,238,313$19,829,046$14,460,063$47,110,962
80$60,777,399$20,705,447$14,849,253$51,489,070
81$66,878,472$21,621,793$15,248,481$56,300,248
82$73,598,760$22,579,945$15,657,989$61,588,225
83$81,001,327$23,581,855$16,078,025$67,401,175
84$89,155,663$24,629,567$16,508,840$73,792,170
85$98,138,346$25,725,221$16,950,691$80,819,679
86$108,033,760$26,871,059$17,403,842$88,548,116
87$118,934,893$28,069,431$17,868,560$97,048,449
88$130,944,215$29,322,796$18,345,120$106,398,866
89$144,174,644$30,633,731$18,833,800$116,685,510
90$158,750,611$32,004,938$19,334,886$128,003,291
91$174,809,236$33,439,243$19,848,668$140,456,779
92$192,501,623$34,939,610$20,375,442$154,161,190
93$211,994,281$36,509,143$20,915,512$169,243,467
94$233,470,701$38,151,095$21,469,185$185,843,478
95$257,133,085$39,868,871$22,036,776$204,115,337
96$283,204,256$41,666,043$22,618,604$224,228,848
97$311,929,761$43,546,349$23,214,998$246,371,112
98$343,580,184$45,513,708$23,826,288$270,748,285
99$378,453,709$47,572,226$24,452,815$297,587,526
100$416,878,927$49,726,204$25,094,923$327,139,130