Can I retire at age 60 with 7,900,000?

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 $7,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$652,375$646,564$640,894$635,360$629,957$626,249
2 years$322,958$316,943$311,114$305,462$299,980$296,239
3 years$213,166$207,126$201,311$195,712$190,319$186,662
4 years$158,282$152,259$146,503$141,000$135,737$132,191
5 years$125,359$119,373$113,692$108,301$103,185$99,760
6 years$103,418$97,477$91,880$86,609$81,647$78,348
7 years$87,752$81,861$76,353$71,206$66,401$63,229
8 years$76,008$70,170$64,753$59,733$55,086$52,042
9 years$66,878$61,096$55,772$50,879$46,390$43,473
10 years$59,579$53,853$48,623$43,859$39,527$36,736
11 years$53,611$47,942$42,807$38,170$33,994$31,327
12 years$48,641$43,030$37,990$33,480$29,459$26,912
13 years$44,439$38,887$33,942$29,558$25,689$23,261
14 years$40,840$35,347$30,497$26,238$22,519$20,207
15 years$37,724$32,290$27,535$23,400$19,827$17,628
16 years$35,000$29,626$24,964$20,952$17,523$15,434
17 years$32,599$27,284$22,716$18,825$15,537$13,555
18 years$30,467$25,212$20,737$16,965$13,815$11,936
19 years$28,562$23,366$18,984$15,330$12,314$10,534
20 years$26,850$21,713$17,422$13,884$10,999$9,316
21 years$25,302$20,225$16,025$12,601$9,843$8,252
22 years$23,897$18,879$14,770$11,457$8,823$7,321
23 years$22,617$17,657$13,637$10,434$7,920$6,504
24 years$21,444$16,544$12,612$9,516$7,118$5,784
25 years$20,367$15,525$11,681$8,691$6,405$5,150
26 years$19,375$14,591$10,834$7,947$5,770$4,589
27 years$18,458$13,732$10,060$7,274$5,202$4,092
28 years$17,607$12,940$9,352$6,664$4,694$3,652
29 years$16,817$12,207$8,703$6,111$4,238$3,261
30 years$16,081$11,528$8,107$5,609$3,830$2,914
31 years$15,394$10,898$7,558$5,151$3,462$2,605
32 years$14,751$10,312$7,051$4,734$3,132$2,330
33 years$14,148$9,765$6,584$4,353$2,834$2,084
34 years$13,582$9,255$6,152$4,005$2,566$1,865
35 years$13,049$8,779$5,751$3,687$2,324$1,670
36 years$12,547$8,332$5,380$3,396$2,106$1,496
37 years$12,073$7,914$5,036$3,129$1,909$1,340
38 years$11,626$7,521$4,716$2,884$1,730$1,200
39 years$11,202$7,152$4,418$2,659$1,569$1,076
40 years$10,801$6,804$4,141$2,453$1,423$964
41 years$10,420$6,477$3,883$2,263$1,291$864
42 years$10,058$6,168$3,642$2,088$1,172$775
43 years$9,714$5,877$3,418$1,928$1,063$695
44 years$9,386$5,602$3,208$1,780$965$623
45 years$9,074$5,342$3,013$1,644$876$559
46 years$8,777$5,096$2,829$1,518$796$501
47 years$8,493$4,863$2,658$1,403$722$450
48 years$8,221$4,643$2,498$1,296$656$403
49 years$7,962$4,434$2,348$1,198$596$362
50 years$7,713$4,235$2,207$1,107$541$325

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $7,900,000, adding $4,449 every year, while hoping to spend $47,574 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: 42/28/30 Blend
59$7,900,000$7,900,000$7,900,000$7,900,000
60$8,710,389$8,291,689$8,169,239$8,999,518
61$9,548,230$8,647,364$8,392,290$9,564,608
62$10,469,937$9,018,872$8,621,219$10,171,416
63$11,484,013$9,406,939$8,856,172$10,827,710
64$12,599,828$9,812,325$9,097,300$11,538,099
65$13,827,707$10,235,824$9,344,756$12,307,641
66$15,179,024$10,678,271$9,598,696$13,141,894
67$16,666,313$11,140,535$9,859,281$14,046,966
68$18,303,386$11,623,530$10,126,676$15,029,567
69$20,105,458$12,128,210$10,401,046$16,097,074
70$22,089,299$12,655,576$10,682,565$17,257,594
71$24,273,383$13,206,675$10,971,407$18,520,040
72$26,678,070$13,782,604$11,267,751$19,894,213
73$29,325,792$14,384,510$11,571,780$21,390,890
74$32,241,269$15,013,597$11,883,680$23,021,923
75$35,451,737$15,671,123$12,203,642$24,800,348
76$38,987,212$16,358,405$12,531,862$26,740,505
77$42,880,767$17,076,826$12,868,538$28,858,168
78$47,168,845$17,827,831$13,213,874$31,170,693
79$51,891,606$18,612,933$13,568,078$33,697,176
80$57,093,301$19,433,718$13,931,360$36,458,632
81$62,822,696$20,291,848$14,303,939$39,478,184
82$69,133,524$21,189,062$14,686,033$42,781,283
83$76,084,998$22,127,180$15,077,870$46,395,940
84$83,742,367$23,108,112$15,479,679$50,352,987
85$92,177,535$24,133,856$15,891,694$54,686,363
86$101,469,733$25,206,504$16,314,155$59,433,430
87$111,706,273$26,328,250$16,747,307$64,635,319
88$122,983,369$27,501,390$17,191,398$70,337,313
89$135,407,045$28,728,331$17,646,682$76,589,271
90$149,094,136$30,011,592$18,113,418$83,446,088
91$164,173,391$31,353,813$18,591,871$90,968,213
92$180,786,688$32,757,760$19,082,309$99,222,208
93$199,090,370$34,226,330$19,585,006$108,281,372
94$219,256,726$35,762,559$20,100,242$118,226,425
95$241,475,613$37,369,625$20,628,302$129,146,262
96$265,956,250$39,050,861$21,169,474$141,138,788
97$292,929,190$40,809,757$21,724,055$154,311,829
98$322,648,501$42,649,968$22,292,344$168,784,144
99$355,394,158$44,575,327$22,874,648$184,686,538
100$391,474,691$46,589,847$23,471,277$202,163,087