Can I retire at age 60 with 4,800,000?

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 $4,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$396,380$392,849$389,404$386,042$382,759$375,800
2 years$196,227$192,573$189,031$185,597$182,266$175,280
3 years$129,519$125,849$122,316$118,914$115,637$108,841
4 years$96,171$92,512$89,014$85,671$82,473$75,920
5 years$76,168$72,531$69,079$65,803$62,695$56,403
6 years$62,836$59,227$55,826$52,623$49,608$43,585
7 years$53,318$49,738$46,392$43,265$40,345$34,592
8 years$46,182$42,635$39,344$36,294$33,470$27,986
9 years$40,635$37,121$33,887$30,914$28,187$22,968
10 years$36,200$32,721$29,543$26,648$24,016$19,059
11 years$32,574$29,129$26,009$23,192$20,655$15,953
12 years$29,554$26,145$23,083$20,342$17,899$13,446
13 years$27,001$23,627$20,623$17,959$15,608$11,397
14 years$24,814$21,477$18,530$15,942$13,682$9,705
15 years$22,921$19,619$16,730$14,218$12,047$8,296
16 years$21,266$18,000$15,168$12,730$10,647$7,115
17 years$19,807$16,578$13,802$11,438$9,440$6,118
18 years$18,512$15,318$12,600$10,308$8,394$5,273
19 years$17,354$14,197$11,534$9,314$7,482$4,553
20 years$16,314$13,193$10,586$8,436$6,683$3,938
21 years$15,373$12,288$9,737$7,656$5,980$3,411
22 years$14,520$11,471$8,974$6,961$5,361$2,958
23 years$13,742$10,728$8,286$6,340$4,812$2,568
24 years$13,029$10,052$7,663$5,782$4,325$2,232
25 years$12,375$9,433$7,098$5,281$3,892$1,941
26 years$11,772$8,866$6,583$4,828$3,506$1,689
27 years$11,215$8,344$6,113$4,419$3,161$1,470
28 years$10,698$7,862$5,682$4,049$2,852$1,281
29 years$10,218$7,417$5,288$3,713$2,575$1,116
30 years$9,771$7,005$4,926$3,408$2,327$973
31 years$9,353$6,622$4,592$3,130$2,104$849
32 years$8,962$6,265$4,284$2,876$1,903$741
33 years$8,596$5,933$4,000$2,645$1,722$646
34 years$8,252$5,624$3,738$2,434$1,559$564
35 years$7,928$5,334$3,494$2,240$1,412$492
36 years$7,624$5,063$3,269$2,063$1,280$430
37 years$7,336$4,808$3,060$1,901$1,160$375
38 years$7,064$4,570$2,865$1,752$1,051$328
39 years$6,806$4,345$2,684$1,616$953$286
40 years$6,562$4,134$2,516$1,490$865$250
41 years$6,331$3,935$2,359$1,375$785$219
42 years$6,111$3,748$2,213$1,269$712$191
43 years$5,902$3,571$2,077$1,171$646$167
44 years$5,703$3,404$1,949$1,082$586$146
45 years$5,513$3,246$1,830$999$532$127
46 years$5,333$3,096$1,719$923$483$111
47 years$5,160$2,955$1,615$852$439$97
48 years$4,995$2,821$1,518$788$399$85
49 years$4,837$2,694$1,427$728$362$74
50 years$4,686$2,573$1,341$673$329$65

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $4,800,000, adding $2,462 every year, while hoping to spend $21,204 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: 43/31/26 Blend
59$4,800,000$4,800,000$4,800,000$4,800,000
60$5,292,140$5,037,740$4,963,340$5,479,483
61$5,809,377$5,262,028$5,107,051$5,837,834
62$6,378,662$5,496,596$5,254,865$6,223,642
63$7,005,281$5,741,924$5,406,899$6,641,253
64$7,695,059$5,998,518$5,563,269$7,093,622
65$8,454,414$6,266,904$5,724,098$7,583,996
66$9,290,419$6,547,638$5,889,510$8,115,939
67$10,210,866$6,841,297$6,059,633$8,693,368
68$11,224,344$7,148,489$6,234,600$9,320,583
69$12,340,312$7,469,851$6,414,545$10,002,313
70$13,569,199$7,806,049$6,599,607$10,743,751
71$14,922,493$8,157,781$6,789,929$11,550,608
72$16,412,854$8,525,778$6,985,659$12,429,159
73$18,054,232$8,910,808$7,186,945$13,386,306
74$19,862,000$9,313,674$7,393,943$14,429,635
75$21,853,096$9,735,216$7,606,813$15,567,490
76$24,046,187$10,176,317$7,825,716$16,809,045
77$26,461,841$10,637,900$8,050,821$18,164,394
78$29,122,725$11,120,933$8,282,300$19,644,638
79$32,053,816$11,626,431$8,520,329$21,261,990
80$35,282,635$12,155,457$8,765,091$23,029,886
81$38,839,513$12,709,123$9,016,770$24,963,110
82$42,757,871$13,288,598$9,275,560$27,077,932
83$47,074,539$13,895,104$9,541,656$29,392,252
84$51,830,100$14,529,922$9,815,260$31,925,775
85$57,069,279$15,194,397$10,096,579$34,700,184
86$62,841,357$15,889,935$10,385,827$37,739,348
87$69,200,645$16,618,011$10,683,221$41,069,541
88$76,206,988$17,380,171$10,988,987$44,719,683
89$83,926,337$18,178,034$11,303,353$48,721,616
90$92,431,365$19,013,300$11,626,558$53,110,392
91$101,802,159$19,887,747$11,958,842$57,924,604
92$112,126,973$20,803,240$12,300,457$63,206,747
93$123,503,058$21,761,733$12,651,656$69,003,608
94$136,037,587$22,765,275$13,012,704$75,366,709
95$149,848,661$23,816,013$13,383,869$82,352,783
96$165,066,424$24,916,197$13,765,428$90,024,308
97$181,834,294$26,068,186$14,157,666$98,450,087
98$200,310,317$27,274,452$14,560,872$107,705,894
99$220,668,655$28,537,586$14,975,347$117,875,180
100$243,101,235$29,860,305$15,401,398$129,049,857