Can I retire at age 60 with 16,000,000?

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 $16,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$1,321,265$1,309,496$1,298,013$1,286,806$1,275,862$1,251,638
2 years$654,092$641,910$630,104$618,657$607,554$583,242
3 years$431,730$419,495$407,719$396,379$385,457$361,817
4 years$320,570$308,373$296,715$285,569$274,911$252,124
5 years$253,892$241,768$230,263$219,344$208,983$187,114
6 years$209,455$197,422$186,087$175,411$165,361$144,434
7 years$177,726$165,795$154,639$144,215$134,483$114,504
8 years$153,940$142,117$131,146$120,979$111,567$92,529
9 years$135,450$123,738$112,956$103,047$93,955$75,848
10 years$120,667$109,069$98,478$88,828$80,054$62,861
11 years$108,579$97,098$86,698$77,307$68,850$52,550
12 years$98,513$87,150$76,942$67,808$59,664$44,234
13 years$90,002$78,758$68,743$59,865$52,028$37,444
14 years$82,714$71,589$61,766$53,141$45,607$31,843
15 years$76,403$65,398$55,766$47,392$40,156$27,182
16 years$70,886$60,001$50,560$42,435$35,490$23,278
17 years$66,023$55,259$46,008$38,127$31,468$19,988
18 years$61,706$51,062$41,999$34,360$27,980$17,202
19 years$57,847$47,323$38,448$31,048$24,939$14,833
20 years$54,379$43,975$35,286$28,120$22,276$12,810
21 years$51,245$40,961$32,456$25,520$19,935$11,079
22 years$48,400$38,236$29,913$23,204$17,869$9,594
23 years$45,806$35,761$27,620$21,132$16,040$8,316
24 years$43,431$33,506$25,544$19,274$14,417$7,215
25 years$41,250$31,444$23,659$17,602$12,973$6,264
26 years$39,241$29,552$21,942$16,094$11,686$5,442
27 years$37,383$27,812$20,375$14,731$10,536$4,731
28 years$35,661$26,207$18,941$13,497$9,506$4,115
29 years$34,060$24,723$17,627$12,377$8,584$3,580
30 years$32,569$23,348$16,418$11,359$7,756$3,116
31 years$31,177$22,072$15,306$10,433$7,012$2,713
32 years$29,875$20,885$14,281$9,588$6,343$2,363
33 years$28,654$19,778$13,334$8,817$5,741$2,059
34 years$27,507$18,745$12,459$8,112$5,197$1,794
35 years$26,428$17,779$11,648$7,468$4,708$1,563
36 years$25,412$16,875$10,897$6,878$4,265$1,363
37 years$24,452$16,028$10,199$6,337$3,866$1,188
38 years$23,546$15,232$9,551$5,841$3,505$1,036
39 years$22,688$14,484$8,948$5,385$3,178$903
40 years$21,875$13,780$8,387$4,967$2,883$788
41 years$21,103$13,118$7,864$4,583$2,615$687
42 years$20,370$12,493$7,377$4,230$2,373$599
43 years$19,674$11,903$6,922$3,904$2,154$523
44 years$19,010$11,346$6,498$3,605$1,955$456
45 years$18,378$10,820$6,101$3,329$1,775$398
46 years$17,776$10,322$5,731$3,075$1,611$347
47 years$17,200$9,850$5,384$2,841$1,463$303
48 years$16,650$9,403$5,059$2,625$1,329$264
49 years$16,125$8,979$4,755$2,426$1,207$230
50 years$15,622$8,577$4,471$2,243$1,096$201

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $16,000,000, adding $6,642 every year, while hoping to spend $42,688 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: 78/10/12 Blend
59$16,000,000$16,000,000$16,000,000$16,000,000
60$17,638,851$16,790,851$16,542,851$18,974,049
61$19,392,594$17,568,183$17,051,617$20,630,761
62$21,323,789$18,382,174$17,575,996$22,441,286
63$23,450,489$19,234,574$18,116,465$24,425,889
64$25,792,590$20,127,220$18,673,519$26,601,924
65$28,372,016$21,062,035$19,247,663$28,988,502
66$31,212,923$22,041,036$19,839,421$31,606,662
67$34,341,932$23,066,338$20,449,332$34,479,577
68$37,788,376$24,140,156$21,077,953$37,632,760
69$41,584,581$25,264,813$21,725,854$41,094,312
70$45,766,164$26,442,746$22,393,626$44,895,178
71$50,372,378$27,676,505$23,081,878$49,069,441
72$55,446,475$28,968,768$23,791,235$53,654,637
73$61,036,116$30,322,339$24,522,343$58,692,109
74$67,193,826$31,740,159$25,275,867$64,227,395
75$73,977,481$33,225,312$26,052,493$70,310,653
76$81,450,860$34,781,028$26,852,928$76,997,130
77$89,684,245$36,410,696$27,677,898$84,347,686
78$98,755,086$38,117,868$28,528,156$92,429,357
79$108,748,729$39,906,267$29,404,473$101,315,991
80$119,759,223$41,779,798$30,307,646$111,088,937
81$131,890,208$43,742,552$31,238,496$121,837,812
82$145,255,893$45,798,821$32,197,870$133,661,339
83$159,982,134$47,953,103$33,186,638$146,668,281
84$176,207,620$50,210,114$34,205,700$160,978,455
85$194,085,187$52,574,800$35,255,980$176,723,866
86$213,783,254$55,052,342$36,338,433$194,049,943
87$235,487,417$57,648,178$37,454,042$213,116,909
88$259,402,200$60,368,006$38,603,819$234,101,289
89$285,752,986$63,217,799$39,788,808$257,197,569
90$314,788,142$66,203,823$41,010,085$282,620,026
91$346,781,367$69,332,645$42,268,758$310,604,748
92$382,034,274$72,611,152$43,565,968$341,411,853
93$420,879,235$76,046,564$44,902,893$375,327,939
94$463,682,522$79,646,450$46,280,746$412,668,783
95$510,847,763$83,418,750$47,700,774$453,782,316
96$562,819,752$87,371,786$49,164,267$499,051,898
97$620,088,648$91,514,284$50,672,551$548,899,930
98$683,194,601$95,855,395$52,226,993$603,791,834
99$752,732,854$100,404,714$53,829,001$664,240,439
100$829,359,360$105,172,299$55,480,027$730,810,809