Can I retire at age 60 with 8,900,000?

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 $8,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$734,954$728,407$722,020$715,786$709,698$691,980
2 years$363,838$357,062$350,495$344,128$337,952$320,213
3 years$240,150$233,344$226,794$220,486$214,410$197,206
4 years$178,317$171,533$165,048$158,848$152,919$136,381
5 years$141,228$134,484$128,084$122,010$116,247$100,422
6 years$116,509$109,816$103,511$97,573$91,982$76,885
7 years$98,860$92,223$86,018$80,220$74,806$60,439
8 years$85,629$79,052$72,950$67,294$62,059$48,416
9 years$75,344$68,829$62,832$57,320$52,263$39,331
10 years$67,121$60,670$54,778$49,410$44,530$32,296
11 years$60,397$54,011$48,226$43,002$38,298$26,742
12 years$54,798$48,477$42,799$37,718$33,188$22,292
13 years$50,064$43,809$38,238$33,300$28,940$18,682
14 years$46,010$39,821$34,357$29,560$25,369$15,726
15 years$42,499$36,377$31,020$26,362$22,337$13,285
16 years$39,430$33,376$28,124$23,604$19,741$11,257
17 years$36,726$30,738$25,592$21,208$17,504$9,562
18 years$34,324$28,403$23,362$19,113$15,564$8,139
19 years$32,178$26,324$21,387$17,270$13,872$6,940
20 years$30,248$24,461$19,628$15,642$12,391$5,926
21 years$28,505$22,785$18,054$14,196$11,089$5,067
22 years$26,922$21,269$16,639$12,907$9,939$4,337
23 years$25,479$19,892$15,363$11,755$8,922$3,716
24 years$24,159$18,638$14,209$10,721$8,019$3,186
25 years$22,946$17,490$13,160$9,791$7,216$2,733
26 years$21,828$16,438$12,205$8,952$6,500$2,346
27 years$20,794$15,470$11,334$8,194$5,860$2,015
28 years$19,836$14,578$10,536$7,508$5,288$1,731
29 years$18,946$13,752$9,805$6,885$4,775$1,488
30 years$18,117$12,988$9,133$6,319$4,314$1,279
31 years$17,342$12,278$8,514$5,803$3,901$1,100
32 years$16,618$11,617$7,944$5,333$3,528$946
33 years$15,939$11,002$7,417$4,904$3,193$814
34 years$15,301$10,427$6,930$4,512$2,891$700
35 years$14,701$9,890$6,479$4,154$2,619$603
36 years$14,135$9,387$6,061$3,826$2,373$519
37 years$13,602$8,915$5,673$3,525$2,150$447
38 years$13,097$8,473$5,313$3,249$1,949$384
39 years$12,620$8,057$4,977$2,996$1,768$331
40 years$12,168$7,665$4,665$2,763$1,604$285
41 years$11,739$7,297$4,375$2,549$1,455$245
42 years$11,331$6,949$4,104$2,353$1,320$211
43 years$10,943$6,621$3,851$2,172$1,198$182
44 years$10,574$6,311$3,614$2,005$1,087$157
45 years$10,223$6,018$3,394$1,852$987$135
46 years$9,888$5,741$3,188$1,711$896$116
47 years$9,568$5,479$2,995$1,580$814$100
48 years$9,262$5,230$2,814$1,460$739$86
49 years$8,969$4,995$2,645$1,350$671$74
50 years$8,690$4,771$2,487$1,248$610$64

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $8,900,000, adding $3,660 every year, while hoping to spend $40,522 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: 63/11/26 Blend
59$8,900,000$8,900,000$8,900,000$8,900,000
60$9,811,575$9,339,875$9,201,925$10,361,866
61$10,769,241$9,754,414$9,467,075$11,149,491
62$11,823,230$10,187,907$9,739,748$12,004,631
63$12,983,326$10,641,240$10,020,156$12,937,807
64$14,260,306$11,115,342$10,308,512$13,956,667
65$15,666,047$11,611,184$10,605,037$15,069,629
66$17,213,637$12,129,785$10,909,959$16,285,956
67$18,917,494$12,672,211$11,223,509$17,615,845
68$20,793,510$13,239,581$11,545,928$19,070,521
69$22,859,191$13,833,064$11,877,460$20,662,342
70$25,133,832$14,453,887$12,218,358$22,404,909
71$27,638,690$15,103,335$12,568,880$24,313,202
72$30,397,192$15,782,754$12,929,293$26,403,709
73$33,435,151$16,493,554$13,299,870$28,694,589
74$36,781,011$17,237,213$13,680,891$31,205,835
75$40,466,117$18,015,278$14,072,643$33,959,464
76$44,525,006$18,829,373$14,475,422$36,979,723
77$48,995,740$19,681,195$14,889,532$40,293,311
78$53,920,258$20,572,526$15,315,283$43,929,636
79$59,344,775$21,505,231$15,752,997$47,921,084
80$65,320,220$22,481,265$16,203,000$52,303,328
81$71,902,712$23,502,677$16,665,630$57,115,655
82$79,154,093$24,571,612$17,141,233$62,401,340
83$87,142,510$25,690,321$17,630,163$68,208,051
84$95,943,059$26,861,159$18,132,786$74,588,293
85$105,638,491$28,086,596$18,649,475$81,599,904
86$116,319,999$29,369,221$19,180,615$89,306,596
87$128,088,072$30,711,746$19,726,598$97,778,554
88$141,053,447$32,117,012$20,287,830$107,093,096
89$155,338,151$33,587,999$20,864,726$117,335,396
90$171,076,660$35,127,828$21,457,711$128,599,288
91$188,417,157$36,739,770$22,067,222$140,988,147
92$207,522,942$38,427,253$22,693,709$154,615,861
93$228,573,965$40,193,871$23,337,631$169,607,901
94$251,768,528$42,043,390$23,999,460$186,102,501
95$277,325,156$43,979,755$24,679,681$204,251,962
96$305,484,663$46,007,104$25,378,791$224,224,080
97$336,512,418$48,129,771$26,097,300$246,203,730
98$370,700,856$50,352,301$26,835,731$270,394,601
99$408,372,237$52,679,457$27,594,621$297,021,121
100$449,881,684$55,116,230$28,374,520$326,330,562