Can I retire at age 60 with 8,400,000?

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 $8,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$693,664$687,485$681,457$675,573$669,828$657,649
2 years$343,398$337,003$330,804$324,795$318,966$306,739
3 years$226,658$220,235$214,052$208,099$202,365$190,472
4 years$168,299$161,896$155,775$149,924$144,328$132,860
5 years$133,293$126,928$120,888$115,156$109,716$98,706
6 years$109,964$103,647$97,695$92,091$86,815$76,274
7 years$93,306$87,042$81,185$75,713$70,604$60,536
8 years$80,819$74,611$68,852$63,514$58,572$48,976
9 years$71,111$64,963$59,302$54,100$49,326$40,194
10 years$63,350$57,261$51,701$46,634$42,029$33,353
11 years$57,004$50,976$45,517$40,586$36,146$27,917
12 years$51,719$45,754$40,395$35,599$31,323$23,530
13 years$47,251$41,348$36,090$31,429$27,315$19,944
14 years$43,425$37,584$32,427$27,899$23,944$16,984
15 years$40,111$34,334$29,277$24,881$21,082$14,518
16 years$37,215$31,501$26,544$22,278$18,632$12,450
17 years$34,662$29,011$24,154$20,017$16,521$10,706
18 years$32,396$26,807$22,050$18,039$14,689$9,227
19 years$30,370$24,845$20,185$16,300$13,093$7,968
20 years$28,549$23,087$18,525$14,763$11,695$6,892
21 years$26,904$21,505$17,040$13,398$10,466$5,970
22 years$25,410$20,074$15,705$12,182$9,381$5,177
23 years$24,048$18,775$14,500$11,094$8,421$4,495
24 years$22,802$17,591$13,410$10,119$7,569$3,906
25 years$21,656$16,508$12,421$9,241$6,811$3,396
26 years$20,601$15,515$11,520$8,449$6,135$2,955
27 years$19,626$14,601$10,697$7,734$5,531$2,573
28 years$18,722$13,759$9,944$7,086$4,991$2,242
29 years$17,882$12,980$9,254$6,498$4,507$1,954
30 years$17,099$12,258$8,620$5,964$4,072$1,703
31 years$16,368$11,588$8,036$5,477$3,682$1,486
32 years$15,684$10,964$7,498$5,034$3,330$1,296
33 years$15,043$10,383$7,001$4,629$3,014$1,131
34 years$14,441$9,841$6,541$4,259$2,729$987
35 years$13,875$9,334$6,115$3,921$2,471$862
36 years$13,341$8,860$5,721$3,611$2,239$752
37 years$12,837$8,415$5,354$3,327$2,030$657
38 years$12,361$7,997$5,014$3,066$1,840$574
39 years$11,911$7,604$4,698$2,827$1,669$501
40 years$11,484$7,235$4,403$2,608$1,513$438
41 years$11,079$6,887$4,129$2,406$1,373$383
42 years$10,694$6,559$3,873$2,221$1,246$334
43 years$10,329$6,249$3,634$2,050$1,131$292
44 years$9,980$5,957$3,411$1,893$1,026$255
45 years$9,649$5,680$3,203$1,748$932$223
46 years$9,332$5,419$3,009$1,615$846$195
47 years$9,030$5,171$2,826$1,492$768$170
48 years$8,741$4,937$2,656$1,378$698$149
49 years$8,465$4,714$2,497$1,274$634$130
50 years$8,201$4,503$2,347$1,177$575$114

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $8,400,000, adding $5,856 every year, while hoping to spend $44,073 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: 63/12/25 Blend
59$8,400,000$8,400,000$8,400,000$8,400,000
60$9,262,840$8,817,640$8,687,440$9,784,927
61$10,160,757$9,202,812$8,931,576$10,524,035
62$11,148,784$9,605,379$9,182,414$11,325,584
63$12,236,065$10,026,148$9,440,130$12,200,113
64$13,432,678$10,465,964$9,704,909$13,154,773
65$14,749,724$10,925,709$9,976,936$14,197,431
66$16,199,437$11,406,309$10,256,405$15,336,745
67$17,795,296$11,908,734$10,543,510$16,582,248
68$19,552,152$12,433,999$10,838,454$17,944,429
69$21,486,373$12,983,166$11,141,444$19,434,840
70$23,615,991$13,557,350$11,452,690$21,066,194
71$25,960,878$14,157,715$11,772,411$22,852,490
72$28,542,929$14,785,485$12,100,828$24,809,141
73$31,386,271$15,441,937$12,438,169$26,953,117
74$34,517,491$16,128,412$12,784,668$29,303,107
75$37,965,885$16,846,314$13,140,564$31,879,686
76$41,763,735$17,597,113$13,506,103$34,705,517
77$45,946,613$18,382,349$13,881,534$37,805,554
78$50,553,718$19,203,635$14,267,117$41,207,282
79$55,628,246$20,062,661$14,663,114$44,940,970
80$61,217,794$20,961,199$15,069,795$49,039,957
81$67,374,813$21,901,102$15,487,437$53,540,961
82$74,157,102$22,884,313$15,916,324$58,484,429
83$81,628,351$23,912,869$16,356,745$63,914,909
84$89,858,744$24,988,901$16,808,998$69,881,473
85$98,925,623$26,114,645$17,273,387$76,438,177
86$108,914,215$27,292,440$17,750,223$83,644,564
87$119,918,435$28,524,740$18,239,826$91,566,229
88$132,041,778$29,814,115$18,742,522$100,275,431
89$145,398,289$31,163,256$19,258,646$109,851,773
90$160,113,644$32,574,985$19,788,540$120,382,952
91$176,326,333$34,052,257$20,332,555$131,965,578
92$194,188,972$35,598,171$20,891,048$144,706,088
93$213,869,737$37,215,971$21,464,388$158,721,744
94$235,553,955$38,909,058$22,052,949$174,141,737
95$259,445,852$40,680,995$22,657,117$191,108,402
96$285,770,483$42,535,518$23,277,284$209,778,556
97$314,775,852$44,476,538$23,913,853$230,324,976
98$346,735,257$46,508,157$24,567,236$252,938,025
99$381,949,869$48,634,672$25,237,854$277,827,443
100$420,751,570$50,860,586$25,926,137$305,224,323