Can I retire at age 60 with 9,800,000?

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 $9,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$809,275$802,066$795,033$788,169$781,466$778,173
2 years$400,631$393,170$385,938$378,927$372,127$368,802
3 years$264,434$256,941$249,728$242,782$236,092$232,840
4 years$196,349$188,879$181,738$174,911$168,383$165,227
5 years$155,509$148,083$141,036$134,348$128,002$124,951
6 years$128,291$120,921$113,978$107,440$101,284$98,343
7 years$108,857$101,549$94,716$88,332$82,371$79,541
8 years$94,288$87,047$80,327$74,099$68,335$65,616
9 years$82,963$75,790$69,186$63,116$57,548$54,940
10 years$73,908$66,805$60,318$54,407$49,033$46,536
11 years$66,505$59,472$53,103$47,350$42,170$39,781
12 years$60,339$53,379$47,127$41,533$36,544$34,261
13 years$55,126$48,239$42,105$36,667$31,867$29,688
14 years$50,662$43,848$37,832$32,549$27,934$25,857
15 years$46,797$40,056$34,157$29,028$24,596$22,618
16 years$43,418$36,751$30,968$25,991$21,738$19,856
17 years$40,439$33,846$28,180$23,353$19,274$17,487
18 years$37,795$31,275$25,725$21,046$17,138$15,441
19 years$35,431$28,986$23,550$19,017$15,275$13,667
20 years$33,307$26,935$21,613$17,223$13,644$12,121
21 years$31,388$25,089$19,879$15,631$12,210$10,768
22 years$29,645$23,419$18,322$14,212$10,944$9,582
23 years$28,056$21,904$16,917$12,943$9,824$8,537
24 years$26,602$20,522$15,645$11,805$8,830$7,616
25 years$25,266$19,259$14,491$10,781$7,946$6,801
26 years$24,035$18,101$13,440$9,858$7,157$6,080
27 years$22,897$17,035$12,480$9,023$6,453$5,439
28 years$21,842$16,052$11,602$8,267$5,823$4,869
29 years$20,862$15,143$10,796$7,581$5,258$4,362
30 years$19,949$14,301$10,056$6,958$4,751$3,910
31 years$19,096$13,519$9,375$6,390$4,295$3,507
32 years$18,298$12,792$8,747$5,872$3,885$3,146
33 years$17,550$12,114$8,167$5,400$3,516$2,824
34 years$16,848$11,481$7,631$4,969$3,183$2,536
35 years$16,187$10,890$7,135$4,574$2,883$2,278
36 years$15,565$10,336$6,674$4,213$2,612$2,047
37 years$14,977$9,817$6,247$3,881$2,368$1,840
38 years$14,422$9,330$5,850$3,577$2,147$1,654
39 years$13,896$8,872$5,481$3,299$1,947$1,487
40 years$13,398$8,441$5,137$3,042$1,766$1,337
41 years$12,926$8,035$4,817$2,807$1,602$1,203
42 years$12,477$7,652$4,519$2,591$1,454$1,082
43 years$12,050$7,291$4,240$2,391$1,319$974
44 years$11,644$6,950$3,980$2,208$1,197$876
45 years$11,257$6,627$3,737$2,039$1,087$789
46 years$10,888$6,322$3,510$1,884$987$710
47 years$10,535$6,033$3,298$1,740$896$639
48 years$10,198$5,759$3,099$1,608$814$575
49 years$9,876$5,500$2,913$1,486$739$518
50 years$9,568$5,254$2,738$1,374$671$466

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $9,800,000, adding $2,610 every year, while hoping to spend $39,018 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: 39/41/20 Blend
59$9,800,000$9,800,000$9,800,000$9,800,000
60$10,802,292$10,282,892$10,130,992$11,159,075
61$11,862,611$10,745,239$10,428,866$11,878,143
62$13,029,775$11,228,933$10,735,410$12,651,249
63$14,314,641$11,734,979$11,050,875$13,486,400
64$15,729,171$12,264,431$11,375,516$14,389,244
65$17,286,548$12,818,390$11,709,598$15,365,976
66$19,001,298$13,398,012$12,053,391$16,423,392
67$20,889,424$14,004,509$12,407,174$17,568,948
68$22,968,565$14,639,149$12,771,233$18,810,829
69$25,258,153$15,303,262$13,145,864$20,158,021
70$27,779,603$15,998,240$13,531,369$21,620,388
71$30,556,512$16,725,544$13,928,059$23,208,765
72$33,614,883$17,486,702$14,336,256$24,935,051
73$36,983,368$18,283,317$14,756,288$26,812,318
74$40,693,541$19,117,069$15,188,493$28,854,928
75$44,780,195$19,989,718$15,633,220$31,078,663
76$49,281,669$20,903,108$16,090,827$33,500,868
77$54,240,210$21,859,172$16,561,681$36,140,608
78$59,702,375$22,859,935$17,046,161$39,018,840
79$65,719,465$23,907,520$17,544,655$42,158,607
80$72,348,013$25,004,151$18,057,564$45,585,245
81$79,650,316$26,152,160$18,585,297$49,326,615
82$87,695,022$27,353,989$19,128,278$53,413,359
83$96,557,779$28,612,200$19,686,941$57,879,182
84$106,321,951$29,929,476$20,261,731$62,761,156
85$117,079,399$31,308,629$20,853,109$68,100,068
86$128,931,354$32,752,609$21,461,544$73,940,789
87$141,989,370$34,264,503$22,087,523$80,332,692
88$156,376,373$35,847,552$22,731,543$87,330,106
89$172,227,830$37,505,149$23,394,117$94,992,816
90$189,693,019$39,240,852$24,075,770$103,386,619
91$208,936,443$41,058,389$24,777,044$112,583,930
92$230,139,381$42,961,670$25,498,495$122,664,455
93$253,501,597$44,954,792$26,240,695$133,715,930
94$279,243,232$47,042,049$27,004,230$145,834,936
95$307,606,874$49,227,942$27,789,704$159,127,793
96$338,859,854$51,517,190$28,597,738$173,711,551
97$373,296,766$53,914,739$29,428,969$189,715,083
98$411,242,249$56,425,774$30,284,052$207,280,275
99$453,054,051$59,055,730$31,163,661$226,563,359
100$499,126,408$61,810,304$32,068,487$247,736,361