Can I retire at age 60 with 4,700,000?

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 $4,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$388,122$384,664$381,291$377,999$374,785$361,775
2 years$192,139$188,561$185,093$181,730$178,469$165,496
3 years$126,821$123,227$119,767$116,436$113,228$100,700
4 years$94,168$90,585$87,160$83,886$80,755$68,768
5 years$74,581$71,019$67,640$64,432$61,389$49,974
6 years$61,527$57,993$54,663$51,527$48,575$37,741
7 years$52,207$48,702$45,425$42,363$39,504$29,249
8 years$45,220$41,747$38,524$35,538$32,773$23,088
9 years$39,788$36,348$33,181$30,270$27,599$18,473
10 years$35,446$32,039$28,928$26,093$23,516$14,933
11 years$31,895$28,522$25,468$22,709$20,225$12,168
12 years$28,938$25,600$22,602$19,919$17,526$9,976
13 years$26,438$23,135$20,193$17,585$15,283$8,221
14 years$24,297$21,029$18,144$15,610$13,397$6,801
15 years$22,443$19,211$16,381$13,922$11,796$5,645
16 years$20,823$17,625$14,852$12,465$10,425$4,698
17 years$19,394$16,232$13,515$11,200$9,244$3,918
18 years$18,126$14,999$12,337$10,093$8,219$3,274
19 years$16,993$13,901$11,294$9,120$7,326$2,740
20 years$15,974$12,918$10,365$8,260$6,544$2,295
21 years$15,053$12,032$9,534$7,497$5,856$1,925
22 years$14,217$11,232$8,787$6,816$5,249$1,616
23 years$13,455$10,505$8,113$6,208$4,712$1,357
24 years$12,758$9,842$7,503$5,662$4,235$1,141
25 years$12,117$9,237$6,950$5,171$3,811$959
26 years$11,527$8,681$6,445$4,728$3,433$807
27 years$10,981$8,170$5,985$4,327$3,095$679
28 years$10,475$7,698$5,564$3,965$2,793$572
29 years$10,005$7,262$5,178$3,636$2,522$481
30 years$9,567$6,859$4,823$3,337$2,278$406
31 years$9,158$6,484$4,496$3,065$2,060$342
32 years$8,776$6,135$4,195$2,816$1,863$288
33 years$8,417$5,810$3,917$2,590$1,686$243
34 years$8,080$5,506$3,660$2,383$1,527$204
35 years$7,763$5,223$3,422$2,194$1,383$172
36 years$7,465$4,957$3,201$2,020$1,253$145
37 years$7,183$4,708$2,996$1,861$1,136$122
38 years$6,917$4,474$2,806$1,716$1,030$103
39 years$6,664$4,255$2,629$1,582$934$87
40 years$6,426$4,048$2,464$1,459$847$73
41 years$6,199$3,853$2,310$1,346$768$62
42 years$5,984$3,670$2,167$1,242$697$52
43 years$5,779$3,497$2,033$1,147$633$44
44 years$5,584$3,333$1,909$1,059$574$37
45 years$5,399$3,178$1,792$978$521$31
46 years$5,222$3,032$1,683$903$473$26
47 years$5,053$2,893$1,581$835$430$22
48 years$4,891$2,762$1,486$771$390$19
49 years$4,737$2,638$1,397$713$355$16
50 years$4,589$2,520$1,313$659$322$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $4,700,000, adding $2,560 every year, while hoping to spend $21,595 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: 72/11/17 Blend
59$4,700,000$4,700,000$4,700,000$4,700,000
60$5,182,041$4,932,941$4,860,091$5,534,521
61$5,687,632$5,151,678$4,999,927$5,987,651
62$6,244,070$5,380,409$5,143,724$6,480,870
63$6,856,517$5,619,602$5,291,591$7,020,454
64$7,530,665$5,869,745$5,443,642$7,610,993
65$8,272,781$6,131,351$5,599,992$8,257,541
66$9,089,774$6,404,956$5,760,761$8,965,663
67$9,989,254$6,691,123$5,926,070$9,741,483
68$10,979,610$6,990,440$6,096,046$10,591,747
69$12,070,083$7,303,524$6,270,816$11,523,880
70$13,270,857$7,631,022$6,450,513$12,546,063
71$14,593,152$7,973,610$6,635,274$13,667,299
72$16,049,335$8,331,999$6,825,237$14,897,506
73$17,653,031$8,706,930$7,020,546$16,247,606
74$19,419,253$9,099,183$7,221,347$17,729,628
75$21,364,547$9,509,573$7,427,792$19,356,820
76$23,507,144$9,938,954$7,640,036$21,143,773
77$25,867,132$10,388,223$7,858,237$23,106,558
78$28,466,651$10,858,318$8,082,560$25,262,877
79$31,330,095$11,350,220$8,313,171$27,632,229
80$34,484,345$11,864,961$8,550,242$30,236,092
81$37,959,024$12,403,620$8,793,951$33,098,126
82$41,786,774$12,967,327$9,044,478$36,244,392
83$46,003,566$13,557,268$9,302,009$39,703,602
84$50,649,040$14,174,684$9,566,736$43,507,382
85$55,766,874$14,820,876$9,838,855$47,690,575
86$61,405,204$15,497,207$10,118,565$52,291,567
87$67,617,073$16,205,108$10,406,075$57,352,643
88$74,460,930$16,946,075$10,701,594$62,920,392
89$82,001,190$17,721,676$11,005,342$69,046,140
90$90,308,830$18,533,558$11,317,540$75,786,435
91$99,462,071$19,383,443$11,638,418$83,203,578
92$109,547,108$20,273,136$11,968,210$91,366,208
93$120,658,925$21,204,532$12,307,157$100,349,954
94$132,902,194$22,179,614$12,655,507$110,238,136
95$146,392,263$23,200,460$13,013,511$121,122,562
96$161,256,242$24,269,250$13,381,432$133,104,383
97$177,634,204$25,388,268$13,759,534$146,295,048
98$195,680,507$26,559,908$14,148,093$160,817,356
99$215,565,252$27,786,677$14,547,388$176,806,613
100$237,475,890$29,071,206$14,957,708$194,411,901