Can I retire at age 60 with 8,800,000?

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 $8,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$726,696$720,223$713,907$707,743$701,724$696,427
2 years$359,750$353,050$346,557$340,261$334,154$328,813
3 years$237,451$230,722$224,245$218,009$212,001$206,782
4 years$176,314$169,605$163,193$157,063$151,201$146,144
5 years$139,641$132,973$126,645$120,639$114,941$110,061
6 years$115,200$108,582$102,348$96,476$90,949$86,252
7 years$97,749$91,187$85,051$79,318$73,966$69,455
8 years$84,667$78,164$72,130$66,538$61,362$57,036
9 years$74,498$68,056$62,126$56,676$51,675$47,534
10 years$66,367$59,988$54,163$48,855$44,030$40,071
11 years$59,718$53,404$47,684$42,519$37,867$34,087
12 years$54,182$47,932$42,318$37,295$32,815$29,211
13 years$49,501$43,317$37,809$32,925$28,615$25,183
14 years$45,493$39,374$33,971$29,228$25,084$21,819
15 years$42,022$35,969$30,671$26,066$22,086$18,984
16 years$38,987$33,001$27,808$23,339$19,520$16,576
17 years$36,313$30,392$25,304$20,970$17,307$14,518
18 years$33,938$28,084$23,100$18,898$15,389$12,748
19 years$31,816$26,028$21,147$17,076$13,717$11,219
20 years$29,908$24,186$19,407$15,466$12,252$9,892
21 years$28,185$22,529$17,851$14,036$10,964$8,737
22 years$26,620$21,030$16,452$12,762$9,828$7,728
23 years$25,193$19,669$15,191$11,623$8,822$6,844
24 years$23,887$18,428$14,049$10,601$7,929$6,069
25 years$22,688$17,294$13,012$9,681$7,135$5,386
26 years$21,582$16,254$12,068$8,852$6,427$4,785
27 years$20,560$15,296$11,206$8,102$5,795$4,253
28 years$19,613$14,414$10,418$7,423$5,229$3,784
29 years$18,733$13,598$9,695$6,807$4,721$3,368
30 years$17,913$12,842$9,030$6,248$4,266$3,000
31 years$17,147$12,140$8,419$5,738$3,857$2,673
32 years$16,431$11,487$7,855$5,273$3,489$2,382
33 years$15,760$10,878$7,334$4,849$3,157$2,125
34 years$15,129$10,310$6,852$4,462$2,859$1,895
35 years$14,536$9,779$6,407$4,107$2,589$1,691
36 years$13,976$9,281$5,993$3,783$2,346$1,509
37 years$13,449$8,815$5,609$3,485$2,126$1,347
38 years$12,950$8,378$5,253$3,212$1,928$1,203
39 years$12,478$7,966$4,922$2,962$1,748$1,074
40 years$12,031$7,579$4,613$2,732$1,585$960
41 years$11,607$7,215$4,325$2,521$1,438$857
42 years$11,204$6,871$4,057$2,326$1,305$766
43 years$10,820$6,547$3,807$2,147$1,185$684
44 years$10,456$6,240$3,574$1,983$1,075$612
45 years$10,108$5,951$3,356$1,831$976$547
46 years$9,777$5,677$3,152$1,691$886$489
47 years$9,460$5,417$2,961$1,563$805$437
48 years$9,158$5,172$2,783$1,444$731$390
49 years$8,869$4,939$2,615$1,335$664$349
50 years$8,592$4,718$2,459$1,233$603$312

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $8,800,000, adding $2,528 every year, while hoping to spend $41,750 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: 35/40/25 Blend
59$8,800,000$8,800,000$8,800,000$8,800,000
60$9,700,208$9,233,808$9,097,408$9,966,252
61$10,645,207$9,641,843$9,357,749$10,572,210
62$11,685,197$10,068,472$9,625,413$11,221,595
63$12,829,823$10,514,563$9,900,600$11,921,450
64$14,089,712$10,981,023$10,183,517$12,676,310
65$15,476,574$11,468,804$10,474,376$13,491,144
66$17,003,311$11,978,903$10,773,394$14,371,403
67$18,684,142$12,512,362$11,080,796$15,323,068
68$20,534,732$13,070,275$11,396,810$16,352,699
69$22,572,344$13,653,788$11,721,672$17,467,495
70$24,815,998$14,264,099$12,055,624$18,675,358
71$27,286,656$14,902,466$12,398,913$19,984,964
72$30,007,413$15,570,204$12,751,795$21,405,840
73$33,003,719$16,268,694$13,114,529$22,948,449
74$36,303,617$16,999,379$13,487,386$24,624,281
75$39,938,011$17,763,774$13,870,638$26,445,963
76$43,940,954$18,563,464$14,264,570$28,427,368
77$48,349,968$19,400,111$14,669,470$30,583,739
78$53,206,403$20,275,455$15,085,636$32,931,834
79$58,555,825$21,191,321$15,513,372$35,490,070
80$64,448,441$22,149,618$15,952,993$38,278,697
81$70,939,582$23,152,349$16,404,818$41,319,977
82$78,090,218$24,201,612$16,869,178$44,638,393
83$85,967,534$25,299,606$17,346,410$48,260,867
84$94,645,569$26,448,632$17,836,860$52,217,013
85$104,205,907$27,651,106$18,340,886$56,539,403
86$114,738,454$28,909,555$18,858,850$61,263,868
87$126,342,283$30,226,629$19,391,128$66,429,830
88$139,126,568$31,605,106$19,938,103$72,080,662
89$153,211,618$33,047,896$20,500,169$78,264,090
90$168,730,008$34,558,048$21,077,730$85,032,633
91$185,827,834$36,138,758$21,671,199$92,444,087
92$204,666,091$37,793,374$22,281,002$100,562,063
93$225,422,190$39,525,407$22,907,573$109,456,575
94$248,291,636$41,338,535$23,551,359$119,204,687
95$273,489,871$43,236,612$24,212,818$129,891,232
96$301,254,310$45,223,678$24,892,420$141,609,597
97$331,846,579$47,303,967$25,590,645$154,462,592
98$365,554,985$49,481,917$26,307,987$168,563,407
99$402,697,240$51,762,178$27,044,951$184,036,666
100$443,623,459$54,149,624$27,802,057$201,019,588