Can I retire at age 60 with 7,400,000?

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 $7,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$611,085$605,642$600,331$595,148$590,086$570,741
2 years$302,517$296,883$291,423$286,129$280,994$261,688
3 years$199,675$194,016$188,570$183,325$178,274$159,614
4 years$148,264$142,623$137,231$132,076$127,146$109,275
5 years$117,425$111,818$106,497$101,447$96,655$79,620
6 years$96,873$91,308$86,065$81,128$76,480$60,295
7 years$82,198$76,680$71,520$66,700$62,198$46,862
8 years$71,197$65,729$60,655$55,953$51,600$37,101
9 years$62,646$57,229$52,242$47,659$43,454$29,776
10 years$55,808$50,444$45,546$41,083$37,025$24,146
11 years$50,218$44,908$40,098$35,754$31,843$19,738
12 years$45,562$40,307$35,586$31,361$27,594$16,238
13 years$41,626$36,426$31,794$27,687$24,063$13,426
14 years$38,255$33,110$28,567$24,578$21,093$11,146
15 years$35,336$30,246$25,792$21,919$18,572$9,284
16 years$32,785$27,751$23,384$19,626$16,414$7,754
17 years$30,536$25,557$21,279$17,634$14,554$6,491
18 years$28,539$23,616$19,425$15,892$12,941$5,444
19 years$26,754$21,887$17,782$14,360$11,534$4,573
20 years$25,150$20,339$16,320$13,005$10,303$3,846
21 years$23,701$18,945$15,011$11,803$9,220$3,238
22 years$22,385$17,684$13,835$10,732$8,264$2,729
23 years$21,185$16,540$12,774$9,774$7,418$2,301
24 years$20,087$15,496$11,814$8,914$6,668$1,942
25 years$19,078$14,543$10,942$8,141$6,000$1,639
26 years$18,149$13,668$10,148$7,444$5,405$1,385
27 years$17,289$12,863$9,423$6,813$4,873$1,170
28 years$16,493$12,121$8,760$6,242$4,397$989
29 years$15,753$11,434$8,152$5,724$3,970$836
30 years$15,063$10,799$7,594$5,254$3,587$707
31 years$14,419$10,208$7,079$4,825$3,243$598
32 years$13,817$9,659$6,605$4,434$2,934$506
33 years$13,252$9,147$6,167$4,078$2,655$428
34 years$12,722$8,670$5,762$3,752$2,404$362
35 years$12,223$8,223$5,387$3,454$2,177$307
36 years$11,753$7,805$5,040$3,181$1,973$260
37 years$11,309$7,413$4,717$2,931$1,788$220
38 years$10,890$7,045$4,417$2,701$1,621$186
39 years$10,493$6,699$4,139$2,491$1,470$157
40 years$10,117$6,373$3,879$2,297$1,333$133
41 years$9,760$6,067$3,637$2,120$1,210$113
42 years$9,421$5,778$3,412$1,956$1,098$96
43 years$9,099$5,505$3,202$1,806$996$81
44 years$8,792$5,248$3,005$1,667$904$68
45 years$8,500$5,004$2,822$1,540$821$58
46 years$8,221$4,774$2,650$1,422$745$49
47 years$7,955$4,556$2,490$1,314$677$42
48 years$7,701$4,349$2,340$1,214$615$35
49 years$7,458$4,153$2,199$1,122$558$30
50 years$7,225$3,967$2,068$1,037$507$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $7,400,000, adding $2,416 every year, while hoping to spend $25,419 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: 34/40/26 Blend
59$7,400,000$7,400,000$7,400,000$7,400,000
60$8,157,292$7,765,092$7,650,392$8,370,187
61$8,962,290$8,118,536$7,879,635$8,883,569
62$9,848,546$8,488,447$8,115,705$9,434,334
63$10,824,322$8,875,604$8,358,805$10,027,767
64$11,898,720$9,280,826$8,609,142$10,667,679
65$13,081,771$9,704,969$8,866,930$11,358,244
66$14,384,530$10,148,930$9,132,390$12,104,041
67$15,819,175$10,613,650$9,405,748$12,910,087
68$17,399,127$11,100,116$9,687,237$13,781,888
69$19,139,177$11,609,360$9,977,098$14,725,483
70$21,055,619$12,142,465$10,275,577$15,747,500
71$23,166,412$12,700,566$10,582,929$16,855,211
72$25,491,345$13,284,852$10,899,416$18,056,599
73$28,052,222$13,896,570$11,225,306$19,360,431
74$30,873,073$14,537,026$11,560,878$20,776,332
75$33,980,375$15,207,589$11,906,417$22,314,875
76$37,403,307$15,909,695$12,262,216$23,987,672
77$41,174,022$16,644,847$12,628,577$25,807,484
78$45,327,950$17,414,623$13,005,812$27,788,330
79$49,904,136$18,220,674$13,394,242$29,945,620
80$54,945,603$19,064,733$13,794,195$32,296,290
81$60,499,765$19,948,615$14,206,010$34,858,955
82$66,618,867$20,874,223$14,630,037$37,654,086
83$73,360,483$21,843,552$15,066,635$40,704,186
84$80,788,059$22,858,692$15,516,174$44,034,005
85$88,971,508$23,921,836$15,979,034$47,670,759
86$97,987,877$25,035,280$16,455,606$51,644,386
87$107,922,065$26,201,433$16,946,293$55,987,815
88$118,867,631$27,422,820$17,451,510$60,737,270
89$130,927,678$28,702,086$17,971,684$65,932,609
90$144,215,819$30,042,006$18,507,253$71,617,681
91$158,857,256$31,445,488$19,058,670$77,840,738
92$174,989,960$32,915,581$19,626,399$84,654,881
93$192,765,971$34,455,480$20,210,919$92,118,545
94$212,352,837$36,068,535$20,812,721$100,296,046
95$233,935,193$37,758,259$21,432,314$109,258,171
96$257,716,504$39,528,335$22,070,217$119,082,841
97$283,920,985$41,382,622$22,726,968$129,855,829
98$312,795,722$43,325,166$23,403,117$141,671,559
99$344,612,998$45,360,212$24,099,234$154,633,984
100$379,672,868$47,492,206$24,815,902$168,857,551