Can I retire at age 60 with 7,300,000?

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 $7,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$602,827$597,458$592,219$587,105$582,112$563,478
2 years$298,429$292,871$287,485$282,262$277,196$258,595
3 years$196,977$191,395$186,022$180,848$175,865$157,880
4 years$146,260$140,695$135,376$130,291$125,428$108,197
5 years$115,838$110,307$105,057$100,076$95,349$78,917
6 years$95,564$90,074$84,902$80,031$75,446$59,829
7 years$81,087$75,644$70,554$65,798$61,358$46,553
8 years$70,235$64,841$59,835$55,197$50,902$36,899
9 years$61,799$56,456$51,536$47,015$42,867$29,650
10 years$55,054$49,763$44,930$40,528$36,525$24,074
11 years$49,539$44,301$39,556$35,271$31,413$19,705
12 years$44,947$39,762$35,105$30,938$27,221$16,232
13 years$41,064$35,933$31,364$27,313$23,738$13,439
14 years$37,738$32,662$28,181$24,246$20,808$11,173
15 years$34,859$29,838$25,443$21,623$18,321$9,320
16 years$32,342$27,376$23,068$19,361$16,192$7,795
17 years$30,123$25,212$20,991$17,396$14,357$6,535
18 years$28,153$23,297$19,162$15,677$12,766$5,489
19 years$26,393$21,591$17,542$14,165$11,378$4,618
20 years$24,810$20,064$16,099$12,830$10,163$3,889
21 years$23,381$18,689$14,808$11,644$9,095$3,280
22 years$22,082$17,445$13,648$10,587$8,153$2,768
23 years$20,899$16,316$12,602$9,642$7,318$2,338
24 years$19,816$15,287$11,654$8,794$6,578$1,976
25 years$18,821$14,346$10,794$8,031$5,919$1,671
26 years$17,904$13,483$10,011$7,343$5,332$1,414
27 years$17,056$12,689$9,296$6,721$4,807$1,197
28 years$16,270$11,957$8,642$6,158$4,337$1,013
29 years$15,540$11,280$8,042$5,647$3,916$858
30 years$14,860$10,653$7,491$5,183$3,539$727
31 years$14,225$10,070$6,984$4,760$3,199$616
32 years$13,630$9,529$6,516$4,374$2,894$522
33 years$13,073$9,024$6,084$4,023$2,619$442
34 years$12,550$8,552$5,684$3,701$2,371$375
35 years$12,058$8,112$5,314$3,407$2,148$318
36 years$11,594$7,699$4,972$3,138$1,946$269
37 years$11,156$7,313$4,653$2,891$1,764$228
38 years$10,743$6,950$4,358$2,665$1,599$194
39 years$10,351$6,608$4,083$2,457$1,450$164
40 years$9,980$6,287$3,827$2,266$1,315$139
41 years$9,628$5,985$3,588$2,091$1,193$118
42 years$9,294$5,700$3,366$1,930$1,083$100
43 years$8,976$5,431$3,158$1,781$983$85
44 years$8,673$5,177$2,965$1,645$892$72
45 years$8,385$4,936$2,784$1,519$810$61
46 years$8,110$4,709$2,615$1,403$735$52
47 years$7,848$4,494$2,456$1,296$668$44
48 years$7,597$4,290$2,308$1,198$606$37
49 years$7,357$4,097$2,170$1,107$551$32
50 years$7,127$3,913$2,040$1,023$500$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $7,300,000, adding $4,516 every year, while hoping to spend $48,826 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: 66/28/6 Blend
59$7,300,000$7,300,000$7,300,000$7,300,000
60$8,049,258$7,662,358$7,549,208$8,572,714
61$8,818,332$7,985,863$7,750,156$9,244,259
62$9,664,215$8,323,584$7,956,200$9,971,594
63$10,594,690$8,676,164$8,167,457$10,765,148
64$11,618,332$9,044,280$8,384,051$11,631,362
65$12,744,590$9,428,638$8,606,105$12,577,324
66$13,983,874$9,829,977$8,833,745$13,610,830
67$15,347,653$10,249,070$9,067,099$14,740,460
68$16,848,567$10,686,728$9,306,300$15,975,650
69$18,500,541$11,143,797$9,551,482$17,326,787
70$20,318,919$11,621,166$9,802,779$18,805,299
71$22,320,608$12,119,763$10,060,332$20,423,766
72$24,524,238$12,640,559$10,324,281$22,196,031
73$26,950,337$13,184,573$10,594,770$24,137,333
74$29,621,523$13,752,869$10,871,947$26,264,445
75$32,562,721$14,346,562$11,155,960$28,595,832
76$35,801,396$14,966,820$11,446,961$31,151,822
77$39,367,809$15,614,865$11,745,105$33,954,793
78$43,295,308$16,291,977$12,050,549$37,029,387
79$47,620,640$16,999,494$12,363,453$40,402,733
80$52,384,296$17,738,820$12,683,980$44,104,703
81$57,630,895$18,511,423$13,012,294$48,168,192
82$63,409,604$19,318,840$13,348,563$52,629,422
83$69,774,602$20,162,682$13,692,959$57,528,283
84$76,785,593$21,044,635$14,045,655$62,908,704
85$84,508,366$21,966,464$14,406,826$68,819,064
86$93,015,416$22,930,018$14,776,652$75,312,646
87$102,386,632$23,937,233$15,155,313$82,448,134
88$112,710,047$24,990,136$15,542,995$90,290,163
89$124,082,670$26,090,850$15,939,883$98,909,926
90$136,611,400$27,241,600$16,346,167$108,385,838
91$150,414,039$28,444,714$16,762,039$118,804,274
92$165,620,397$29,702,631$17,187,694$130,260,377
93$182,373,524$31,017,906$17,623,328$142,858,953
94$200,831,054$32,393,215$18,069,140$156,715,451
95$221,166,699$33,831,359$18,525,334$171,957,051
96$243,571,883$35,335,276$18,992,113$188,723,855
97$268,257,549$36,908,039$19,469,683$207,170,202
98$295,456,156$38,552,870$19,958,254$227,466,124
99$325,423,865$40,273,142$20,458,037$249,798,936
100$358,442,963$42,072,390$20,969,245$274,375,003