Can I retire at age 60 with 8,300,000?

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 $8,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$685,406$679,301$673,344$667,531$661,854$638,117
2 years$339,310$332,991$326,866$320,928$315,168$291,511
3 years$223,960$217,613$211,504$205,622$199,956$177,121
4 years$166,296$159,969$153,921$148,139$142,610$120,772
5 years$131,707$125,417$119,449$113,785$108,410$87,626
6 years$108,655$102,413$96,532$90,995$85,781$66,067
7 years$92,195$86,006$80,219$74,812$69,763$51,115
8 years$79,857$73,723$68,032$62,758$57,875$40,276
9 years$70,265$64,189$58,596$53,456$48,739$32,166
10 years$62,596$56,580$51,085$46,079$41,528$25,953
11 years$56,325$50,370$44,975$40,103$35,716$21,106
12 years$51,104$45,209$39,914$35,176$30,950$17,270
13 years$46,689$40,856$35,660$31,055$26,989$14,202
14 years$42,908$37,137$32,041$27,567$23,659$11,725
15 years$39,634$33,925$28,929$24,585$20,831$9,711
16 years$36,772$31,126$26,228$22,013$18,411$8,064
17 years$34,250$28,665$23,867$19,779$16,324$6,711
18 years$32,010$26,488$21,787$17,824$14,515$5,595
19 years$30,008$24,549$19,945$16,106$12,937$4,671
20 years$28,209$22,812$18,305$14,587$11,556$3,904
21 years$26,583$21,249$16,837$13,239$10,341$3,267
22 years$25,107$19,835$15,518$12,037$9,269$2,736
23 years$23,762$18,551$14,328$10,962$8,321$2,293
24 years$22,530$17,381$13,251$9,998$7,479$1,922
25 years$21,399$16,311$12,273$9,131$6,730$1,613
26 years$20,356$15,330$11,382$8,349$6,062$1,354
27 years$19,392$14,427$10,570$7,642$5,465$1,136
28 years$18,499$13,595$9,826$7,002$4,931$954
29 years$17,669$12,825$9,144$6,421$4,453$802
30 years$16,895$12,112$8,517$5,893$4,024$673
31 years$16,173$11,450$7,940$5,412$3,638$566
32 years$15,497$10,834$7,408$4,974$3,291$476
33 years$14,864$10,260$6,917$4,574$2,978$400
34 years$14,269$9,724$6,463$4,208$2,696$336
35 years$13,710$9,223$6,042$3,874$2,442$282
36 years$13,182$8,754$5,653$3,568$2,213$238
37 years$12,685$8,314$5,291$3,287$2,005$200
38 years$12,214$7,902$4,955$3,030$1,818$168
39 years$11,769$7,514$4,642$2,794$1,649$141
40 years$11,347$7,149$4,351$2,577$1,495$119
41 years$10,947$6,805$4,080$2,377$1,357$100
42 years$10,567$6,481$3,827$2,194$1,231$84
43 years$10,206$6,175$3,591$2,025$1,117$71
44 years$9,862$5,886$3,371$1,870$1,014$59
45 years$9,534$5,613$3,165$1,727$921$50
46 years$9,221$5,354$2,973$1,595$836$42
47 years$8,923$5,110$2,793$1,474$759$35
48 years$8,637$4,878$2,624$1,362$689$30
49 years$8,365$4,658$2,467$1,259$626$25
50 years$8,104$4,450$2,319$1,163$569$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $8,300,000, adding $4,911 every year, while hoping to spend $25,253 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: 59/16/25 Blend
59$8,300,000$8,300,000$8,300,000$8,300,000
60$9,151,666$8,711,766$8,583,116$9,629,688
61$10,058,267$9,111,773$8,843,781$10,356,068
62$11,056,494$9,530,535$9,112,332$11,144,833
63$12,155,668$9,968,943$9,389,007$12,004,629
64$13,366,058$10,427,932$9,674,050$12,942,353
65$14,698,978$10,908,483$9,967,713$13,965,593
66$16,166,897$11,411,622$10,270,255$15,082,694
67$17,783,557$11,938,427$10,581,944$16,302,841
68$19,564,096$12,490,027$10,903,056$17,636,137
69$21,525,198$13,067,602$11,233,873$19,093,702
70$23,685,248$13,672,395$11,574,687$20,687,773
71$26,064,504$14,305,703$11,925,800$22,431,816
72$28,685,291$14,968,889$12,287,521$24,340,656
73$31,572,207$15,663,381$12,660,170$26,430,609
74$34,752,360$16,390,675$13,044,074$28,719,635
75$38,255,623$17,152,340$13,439,572$31,227,508
76$42,114,911$17,950,020$13,847,013$33,975,995
77$46,366,500$18,785,439$14,266,755$36,989,063
78$51,050,360$19,660,402$14,699,169$40,293,100
79$56,210,540$20,576,805$15,144,634$43,917,162
80$61,895,579$21,536,633$15,603,544$47,893,242
81$68,158,966$22,541,966$16,076,301$52,256,571
82$75,059,646$23,594,987$16,563,321$57,045,948
83$82,662,571$24,697,983$17,065,034$62,304,099
84$91,039,320$25,853,351$17,581,879$68,078,078
85$100,268,770$27,063,605$18,114,312$74,419,711
86$110,437,842$28,331,379$18,662,799$81,386,073
87$121,642,322$29,659,437$19,227,823$89,040,031
88$133,987,764$31,050,674$19,809,880$97,450,829
89$147,590,485$32,508,126$20,409,480$106,694,736
90$162,578,666$34,034,976$21,027,149$116,855,763
91$179,093,562$35,634,561$21,663,430$128,026,450
92$197,290,831$37,310,380$22,318,881$140,308,736
93$217,342,007$39,066,101$22,994,075$153,814,912
94$239,436,120$40,905,568$23,689,605$168,668,681
95$263,781,478$42,832,814$24,406,080$185,006,314
96$290,607,632$44,852,066$25,144,127$202,977,933
97$320,167,548$46,967,755$25,904,393$222,748,921
98$352,739,991$49,184,528$26,687,543$244,501,479
99$388,632,157$51,507,256$27,494,262$268,436,334
100$428,182,572$53,941,047$28,325,256$294,774,629