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

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 $8,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$726,696$720,223$713,907$707,743$701,724$679,534
2 years$359,750$353,050$346,557$340,261$334,154$311,999
3 years$237,451$230,722$224,245$218,009$212,001$190,576
4 years$176,314$169,605$163,193$157,063$151,201$130,670
5 years$139,641$132,973$126,645$120,639$114,941$95,359
6 years$115,200$108,582$102,348$96,476$90,949$72,333
7 years$97,749$91,187$85,051$79,318$73,966$56,315
8 years$84,667$78,164$72,130$66,538$61,362$44,663
9 years$74,498$68,056$62,126$56,676$51,675$35,911
10 years$66,367$59,988$54,163$48,855$44,030$29,176
11 years$59,718$53,404$47,684$42,519$37,867$23,896
12 years$54,182$47,932$42,318$37,295$32,815$19,697
13 years$49,501$43,317$37,809$32,925$28,615$16,320
14 years$45,493$39,374$33,971$29,228$25,084$13,577
15 years$42,022$35,969$30,671$26,066$22,086$11,333
16 years$38,987$33,001$27,808$23,339$19,520$9,486
17 years$36,313$30,392$25,304$20,970$17,307$7,959
18 years$33,938$28,084$23,100$18,898$15,389$6,690
19 years$31,816$26,028$21,147$17,076$13,717$5,632
20 years$29,908$24,186$19,407$15,466$12,252$4,747
21 years$28,185$22,529$17,851$14,036$10,964$4,006
22 years$26,620$21,030$16,452$12,762$9,828$3,384
23 years$25,193$19,669$15,191$11,623$8,822$2,860
24 years$23,887$18,428$14,049$10,601$7,929$2,420
25 years$22,688$17,294$13,012$9,681$7,135$2,048
26 years$21,582$16,254$12,068$8,852$6,427$1,734
27 years$20,560$15,296$11,206$8,102$5,795$1,469
28 years$19,613$14,414$10,418$7,423$5,229$1,245
29 years$18,733$13,598$9,695$6,807$4,721$1,055
30 years$17,913$12,842$9,030$6,248$4,266$894
31 years$17,147$12,140$8,419$5,738$3,857$758
32 years$16,431$11,487$7,855$5,273$3,489$643
33 years$15,760$10,878$7,334$4,849$3,157$545
34 years$15,129$10,310$6,852$4,462$2,859$463
35 years$14,536$9,779$6,407$4,107$2,589$393
36 years$13,976$9,281$5,993$3,783$2,346$333
37 years$13,449$8,815$5,609$3,485$2,126$283
38 years$12,950$8,378$5,253$3,212$1,928$240
39 years$12,478$7,966$4,922$2,962$1,748$204
40 years$12,031$7,579$4,613$2,732$1,585$173
41 years$11,607$7,215$4,325$2,521$1,438$147
42 years$11,204$6,871$4,057$2,326$1,305$124
43 years$10,820$6,547$3,807$2,147$1,185$106
44 years$10,456$6,240$3,574$1,983$1,075$90
45 years$10,108$5,951$3,356$1,831$976$76
46 years$9,777$5,677$3,152$1,691$886$65
47 years$9,460$5,417$2,961$1,563$805$55
48 years$9,158$5,172$2,783$1,444$731$47
49 years$8,869$4,939$2,615$1,335$664$40
50 years$8,592$4,718$2,459$1,233$603$34

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 $6,867 every year, while hoping to spend $25,960 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: 74/12/14 Blend
59$8,800,000$8,800,000$8,800,000$8,800,000
60$9,704,683$9,238,283$9,101,883$10,393,232
61$10,666,940$9,663,338$9,379,175$11,274,547
62$11,726,476$10,108,350$9,664,886$12,236,010
63$12,893,188$10,574,271$9,959,271$13,288,762
64$14,177,979$11,062,095$10,262,592$14,441,858
65$15,592,863$11,572,869$10,575,120$15,705,266
66$17,151,081$12,107,685$10,897,132$17,089,960
67$18,867,221$12,667,691$11,228,915$18,608,025
68$20,757,359$13,254,089$11,570,765$20,272,763
69$22,839,210$13,868,140$11,922,986$22,098,823
70$25,132,295$14,511,164$12,285,892$24,102,337
71$27,658,124$15,184,547$12,659,805$26,301,066
72$30,440,401$15,889,738$13,045,057$28,714,571
73$33,505,247$16,628,260$13,441,991$31,364,394
74$36,881,445$17,401,708$13,850,960$34,274,260
75$40,600,713$18,211,752$14,272,328$37,470,297
76$44,698,003$19,060,145$14,706,468$40,981,282
77$49,211,831$19,948,724$15,153,767$44,838,912
78$54,184,640$20,879,414$15,614,621$49,078,098
79$59,663,202$21,854,234$16,089,439$53,737,294
80$65,699,057$22,875,300$16,578,644$58,858,858
81$72,349,001$23,944,829$17,082,668$64,489,449
82$79,675,621$25,065,148$17,601,959$70,680,462
83$87,747,887$26,238,693$18,136,978$77,488,515
84$96,641,803$27,468,020$18,688,198$84,975,978
85$106,441,123$28,755,809$19,256,109$93,211,558
86$117,238,142$30,104,869$19,841,213$102,270,947
87$129,134,568$31,518,142$20,444,029$112,237,531
88$142,242,480$32,998,718$21,065,090$123,203,175
89$156,685,389$34,549,831$21,704,947$135,269,087
90$172,599,402$36,174,876$22,364,166$148,546,768
91$190,134,505$37,877,409$23,043,330$163,159,061
92$209,455,983$39,661,160$23,743,039$179,241,309
93$230,745,976$41,530,040$24,463,914$196,942,626
94$254,205,200$43,488,147$25,206,590$216,427,300
95$280,054,845$45,539,780$25,971,725$237,876,344
96$308,538,655$47,689,445$26,759,994$261,489,191
97$339,925,238$49,941,868$27,572,094$287,485,581
98$374,510,595$52,302,003$28,408,742$316,107,625
99$412,620,918$54,775,043$29,270,676$347,622,086
100$454,615,666$57,366,434$30,158,658$382,322,893