Can I retire at age 60 with 9,700,000?

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 $9,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$801,017$793,882$786,921$780,126$773,492$765,096
2 years$396,543$389,158$382,000$375,061$368,329$359,876
3 years$261,736$254,319$247,180$240,305$233,683$225,434
4 years$194,346$186,951$179,883$173,126$166,665$158,684
5 years$153,922$146,572$139,597$132,978$126,696$119,007
6 years$126,982$119,687$112,815$106,343$100,250$92,862
7 years$107,746$100,513$93,750$87,431$81,530$74,446
8 years$93,326$86,158$79,507$73,343$67,637$60,857
9 years$82,117$75,016$68,480$62,472$56,960$50,481
10 years$73,154$66,123$59,702$53,852$48,533$42,350
11 years$65,826$58,866$52,561$46,867$41,740$35,849
12 years$59,723$52,835$46,646$41,109$36,171$30,566
13 years$54,564$47,747$41,675$36,293$31,542$26,215
14 years$50,145$43,401$37,446$32,217$27,649$22,594
15 years$46,319$39,647$33,808$28,732$24,345$19,553
16 years$42,975$36,376$30,652$25,726$21,516$16,980
17 years$40,027$33,501$27,892$23,115$19,078$14,788
18 years$37,409$30,956$25,462$20,831$16,963$12,912
19 years$35,070$28,690$23,309$18,823$15,119$11,298
20 years$32,967$26,660$21,392$17,047$13,505$9,903
21 years$31,067$24,833$19,677$15,472$12,085$8,695
22 years$29,342$23,180$18,135$14,067$10,833$7,645
23 years$27,770$21,680$16,744$12,811$9,724$6,730
24 years$26,330$20,313$15,486$11,685$8,740$5,931
25 years$25,008$19,063$14,343$10,671$7,865$5,231
26 years$23,790$17,916$13,302$9,757$7,084$4,618
27 years$22,663$16,861$12,352$8,931$6,387$4,079
28 years$21,619$15,888$11,483$8,183$5,763$3,605
29 years$20,649$14,988$10,686$7,504$5,204$3,189
30 years$19,745$14,155$9,954$6,887$4,702$2,821
31 years$18,901$13,381$9,280$6,325$4,251$2,497
32 years$18,111$12,661$8,658$5,813$3,846$2,212
33 years$17,371$11,990$8,084$5,345$3,480$1,959
34 years$16,676$11,364$7,553$4,918$3,151$1,736
35 years$16,022$10,779$7,062$4,527$2,854$1,539
36 years$15,406$10,231$6,606$4,170$2,586$1,364
37 years$14,824$9,717$6,183$3,842$2,344$1,209
38 years$14,275$9,234$5,790$3,541$2,125$1,073
39 years$13,754$8,781$5,425$3,265$1,927$951
40 years$13,261$8,354$5,085$3,011$1,748$844
41 years$12,794$7,953$4,768$2,778$1,586$749
42 years$12,350$7,574$4,472$2,564$1,439$664
43 years$11,927$7,216$4,197$2,367$1,306$590
44 years$11,525$6,879$3,939$2,186$1,185$523
45 years$11,142$6,559$3,699$2,018$1,076$464
46 years$10,776$6,257$3,474$1,864$977$412
47 years$10,428$5,971$3,264$1,723$887$366
48 years$10,094$5,701$3,067$1,592$806$325
49 years$9,776$5,444$2,883$1,471$732$288
50 years$9,471$5,200$2,710$1,360$665$256

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $9,700,000, adding $3,869 every year, while hoping to spend $32,104 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: 46/31/23 Blend
59$9,700,000$9,700,000$9,700,000$9,700,000
60$10,693,391$10,179,291$10,028,941$11,114,548
61$11,749,958$10,643,918$10,330,752$11,875,641
62$12,913,220$11,130,235$10,641,598$12,697,431
63$14,194,024$11,639,273$10,961,747$13,588,409
64$15,604,325$12,172,108$11,291,476$14,555,050
65$17,157,296$12,729,871$11,631,071$15,604,467
66$18,867,452$13,313,747$11,980,824$16,744,473
67$20,750,788$13,924,976$12,341,037$17,983,651
68$22,824,928$14,564,859$12,712,021$19,331,433
69$25,109,293$15,234,759$13,094,096$20,798,182
70$27,625,284$15,936,106$13,487,591$22,395,292
71$30,396,484$16,670,396$13,892,847$24,135,283
72$33,448,879$17,439,199$14,310,211$26,031,922
73$36,811,105$18,244,160$14,740,043$28,100,346
74$40,514,717$19,087,003$15,182,714$30,357,199
75$44,594,487$19,969,535$15,638,604$32,820,786
76$49,088,732$20,893,651$16,108,105$35,511,241
77$54,039,678$21,861,334$16,591,621$38,450,709
78$59,493,852$22,874,666$17,089,567$41,663,552
79$65,502,529$23,935,829$17,602,372$45,176,574
80$72,122,211$25,047,109$18,130,475$49,019,264
81$79,415,161$26,210,901$18,674,330$53,224,072
82$87,449,990$27,429,719$19,234,404$57,826,707
83$96,302,309$28,706,195$19,811,176$62,866,468
84$106,055,435$30,043,089$20,405,141$68,386,604
85$116,801,185$31,443,295$21,016,808$74,434,722
86$128,640,735$32,909,847$21,646,701$81,063,222
87$141,685,584$34,445,923$22,295,360$88,329,786
88$156,058,597$36,054,857$22,963,338$96,297,913
89$171,895,172$37,740,143$23,651,207$105,037,511
90$189,344,513$39,505,443$24,359,556$114,625,546
91$208,571,042$41,354,599$25,088,990$125,146,760
92$229,755,949$43,291,634$25,840,132$136,694,458
93$253,098,902$45,320,771$26,613,623$149,371,382
94$278,819,933$47,446,432$27,410,122$163,290,665
95$307,161,516$49,673,256$28,230,311$178,576,893
96$338,390,851$52,006,106$29,074,886$195,367,263
97$372,802,392$54,450,080$29,944,570$213,812,868
98$410,720,625$57,010,522$30,840,101$234,080,110
99$452,503,127$59,693,036$31,762,243$256,352,257
100$498,543,948$62,503,497$32,711,780$280,831,158