Can I retire at age 60 with 9,700,000?

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 $9,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$801,017$793,882$786,921$780,126$773,492$751,443
2 years$396,543$389,158$382,000$375,061$368,329$346,287
3 years$261,736$254,319$247,180$240,305$233,683$212,338
4 years$194,346$186,951$179,883$173,126$166,665$146,180
5 years$153,922$146,572$139,597$132,978$126,696$107,129
6 years$126,982$119,687$112,815$106,343$100,250$81,618
7 years$107,746$100,513$93,750$87,431$81,530$63,833
8 years$93,326$86,158$79,507$73,343$67,637$50,865
9 years$82,117$75,016$68,480$62,472$56,960$41,097
10 years$73,154$66,123$59,702$53,852$48,533$33,557
11 years$65,826$58,866$52,561$46,867$41,740$27,627
12 years$59,723$52,835$46,646$41,109$36,171$22,893
13 years$54,564$47,747$41,675$36,293$31,542$19,070
14 years$50,145$43,401$37,446$32,217$27,649$15,953
15 years$46,319$39,647$33,808$28,732$24,345$13,392
16 years$42,975$36,376$30,652$25,726$21,516$11,275
17 years$40,027$33,501$27,892$23,115$19,078$9,514
18 years$37,409$30,956$25,462$20,831$16,963$8,045
19 years$35,070$28,690$23,309$18,823$15,119$6,814
20 years$32,967$26,660$21,392$17,047$13,505$5,779
21 years$31,067$24,833$19,677$15,472$12,085$4,907
22 years$29,342$23,180$18,135$14,067$10,833$4,171
23 years$27,770$21,680$16,744$12,811$9,724$3,548
24 years$26,330$20,313$15,486$11,685$8,740$3,020
25 years$25,008$19,063$14,343$10,671$7,865$2,573
26 years$23,790$17,916$13,302$9,757$7,084$2,192
27 years$22,663$16,861$12,352$8,931$6,387$1,869
28 years$21,619$15,888$11,483$8,183$5,763$1,594
29 years$20,649$14,988$10,686$7,504$5,204$1,360
30 years$19,745$14,155$9,954$6,887$4,702$1,161
31 years$18,901$13,381$9,280$6,325$4,251$991
32 years$18,111$12,661$8,658$5,813$3,846$846
33 years$17,371$11,990$8,084$5,345$3,480$722
34 years$16,676$11,364$7,553$4,918$3,151$617
35 years$16,022$10,779$7,062$4,527$2,854$527
36 years$15,406$10,231$6,606$4,170$2,586$450
37 years$14,824$9,717$6,183$3,842$2,344$384
38 years$14,275$9,234$5,790$3,541$2,125$328
39 years$13,754$8,781$5,425$3,265$1,927$281
40 years$13,261$8,354$5,085$3,011$1,748$240
41 years$12,794$7,953$4,768$2,778$1,586$205
42 years$12,350$7,574$4,472$2,564$1,439$175
43 years$11,927$7,216$4,197$2,367$1,306$150
44 years$11,525$6,879$3,939$2,186$1,185$128
45 years$11,142$6,559$3,699$2,018$1,076$109
46 years$10,776$6,257$3,474$1,864$977$93
47 years$10,428$5,971$3,264$1,723$887$80
48 years$10,094$5,701$3,067$1,592$806$68
49 years$9,776$5,444$2,883$1,471$732$58
50 years$9,471$5,200$2,710$1,360$665$50

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $9,700,000, adding $2,799 every year, while hoping to spend $30,753 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: 63/22/15 Blend
59$9,700,000$9,700,000$9,700,000$9,700,000
60$10,692,287$10,178,187$10,027,837$11,326,484
61$11,750,180$10,644,197$10,331,049$12,218,338
62$12,914,946$11,132,011$10,643,387$13,188,070
63$14,197,456$11,642,665$10,965,126$14,246,276
64$15,609,685$12,177,244$11,296,546$15,401,566
65$17,164,830$12,736,886$11,637,938$16,663,411
66$18,877,433$13,322,784$11,989,599$18,042,226
67$20,763,518$13,936,188$12,351,837$19,549,473
68$22,840,742$14,578,406$12,724,969$21,197,762
69$25,128,563$15,250,813$13,109,320$23,000,968
70$27,648,420$15,954,846$13,505,226$24,974,362
71$30,423,940$16,692,015$13,913,033$27,134,748
72$33,481,157$17,463,899$14,333,095$29,500,620
73$36,848,761$18,272,156$14,765,779$32,092,335
74$40,558,365$19,118,522$15,211,464$34,932,301
75$44,644,806$20,004,818$15,670,535$38,045,184
76$49,146,473$20,932,951$16,143,395$41,458,138
77$54,105,669$21,904,921$16,630,455$45,201,059
78$59,569,010$22,922,825$17,132,137$49,306,859
79$65,587,865$23,988,859$17,648,880$53,811,776
80$72,218,843$25,105,328$18,181,133$58,755,714
81$79,524,322$26,274,647$18,729,358$64,182,609
82$87,573,043$27,499,345$19,294,032$70,140,842
83$96,440,757$28,782,076$19,875,645$76,683,692
84$106,210,938$30,125,622$20,474,704$83,869,834
85$116,975,575$31,532,898$21,091,727$91,763,885
86$128,836,035$33,006,962$21,727,251$100,437,008
87$141,904,024$34,551,016$22,381,827$109,967,581
88$156,302,639$36,168,420$23,056,023$120,441,930
89$172,167,531$37,862,696$23,750,423$131,955,136
90$189,648,186$39,637,536$24,465,630$144,611,924
91$208,909,335$41,496,808$25,202,262$158,527,652
92$230,132,507$43,444,572$25,960,957$173,829,382
93$253,517,747$45,485,080$26,742,374$190,657,082
94$279,285,501$47,622,793$27,547,187$209,164,933
95$307,678,697$49,862,385$28,376,093$229,522,777
96$338,965,041$52,208,758$29,229,809$251,917,715
97$373,439,540$54,667,052$30,109,072$276,555,858
98$411,427,290$57,242,655$31,014,643$303,664,269
99$453,286,543$59,941,215$31,947,303$333,493,093
100$499,412,091$62,768,655$32,907,858$366,317,911