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

Use the below retirement simulation to view the chances of a successful retirement.
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%11%
1 years$396,380$392,849$389,404$386,042$382,759$381,146
2 years$196,227$192,573$189,031$185,597$182,266$180,638
3 years$129,519$125,849$122,316$118,914$115,637$114,044
4 years$96,171$92,512$89,014$85,671$82,473$80,927
5 years$76,168$72,531$69,079$65,803$62,695$61,201
6 years$62,836$59,227$55,826$52,623$49,608$48,168
7 years$53,318$49,738$46,392$43,265$40,345$38,959
8 years$46,182$42,635$39,344$36,294$33,470$32,139
9 years$40,635$37,121$33,887$30,914$28,187$26,910
10 years$36,200$32,721$29,543$26,648$24,016$22,793
11 years$32,574$29,129$26,009$23,192$20,655$19,485
12 years$29,554$26,145$23,083$20,342$17,899$16,781
13 years$27,001$23,627$20,623$17,959$15,608$14,541
14 years$24,814$21,477$18,530$15,942$13,682$12,665
15 years$22,921$19,619$16,730$14,218$12,047$11,078
16 years$21,266$18,000$15,168$12,730$10,647$9,726
17 years$19,807$16,578$13,802$11,438$9,440$8,565
18 years$18,512$15,318$12,600$10,308$8,394$7,563
19 years$17,354$14,197$11,534$9,314$7,482$6,694
20 years$16,314$13,193$10,586$8,436$6,683$5,937
21 years$15,373$12,288$9,737$7,656$5,980$5,274
22 years$14,520$11,471$8,974$6,961$5,361$4,693
23 years$13,742$10,728$8,286$6,340$4,812$4,182
24 years$13,029$10,052$7,663$5,782$4,325$3,730
25 years$12,375$9,433$7,098$5,281$3,892$3,331
26 years$11,772$8,866$6,583$4,828$3,506$2,978
27 years$11,215$8,344$6,113$4,419$3,161$2,664
28 years$10,698$7,862$5,682$4,049$2,852$2,385
29 years$10,218$7,417$5,288$3,713$2,575$2,137
30 years$9,771$7,005$4,926$3,408$2,327$1,915
31 years$9,353$6,622$4,592$3,130$2,104$1,718
32 years$8,962$6,265$4,284$2,876$1,903$1,541
33 years$8,596$5,933$4,000$2,645$1,722$1,383
34 years$8,252$5,624$3,738$2,434$1,559$1,242
35 years$7,928$5,334$3,494$2,240$1,412$1,116
36 years$7,624$5,063$3,269$2,063$1,280$1,003
37 years$7,336$4,808$3,060$1,901$1,160$901
38 years$7,064$4,570$2,865$1,752$1,051$810
39 years$6,806$4,345$2,684$1,616$953$728
40 years$6,562$4,134$2,516$1,490$865$655
41 years$6,331$3,935$2,359$1,375$785$589
42 years$6,111$3,748$2,213$1,269$712$530
43 years$5,902$3,571$2,077$1,171$646$477
44 years$5,703$3,404$1,949$1,082$586$429
45 years$5,513$3,246$1,830$999$532$386
46 years$5,333$3,096$1,719$923$483$348
47 years$5,160$2,955$1,615$852$439$313
48 years$4,995$2,821$1,518$788$399$282
49 years$4,837$2,694$1,427$728$362$254
50 years$4,686$2,573$1,341$673$329$228

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 $5,639 every year, while hoping to spend $50,061 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: 66/24/10 Blend
59$4,800,000$4,800,000$4,800,000$4,800,000
60$5,295,417$5,041,017$4,966,617$5,633,409
61$5,782,285$5,234,762$5,079,734$6,052,856
62$6,317,135$5,436,323$5,194,963$6,504,656
63$6,904,810$5,646,030$5,312,321$6,997,151
64$7,550,642$5,864,227$5,431,825$7,534,309
65$8,260,508$6,091,274$5,553,492$8,120,496
66$9,040,881$6,327,548$5,677,335$8,760,517
67$9,898,893$6,573,439$5,803,367$9,459,658
68$10,842,400$6,829,358$5,931,600$10,223,740
69$11,880,061$7,095,733$6,062,045$11,059,167
70$13,021,413$7,373,009$6,194,709$11,972,990
71$14,276,965$7,661,655$6,329,599$12,972,971
72$15,658,295$7,962,155$6,466,721$14,067,654
73$17,178,160$8,275,021$6,606,076$15,266,447
74$18,850,618$8,600,782$6,747,664$16,579,707
75$20,691,156$8,939,995$6,891,486$18,018,837
76$22,716,838$9,293,239$7,037,535$19,596,397
77$24,946,468$9,661,120$7,185,805$21,326,213
78$27,400,764$10,044,272$7,336,286$23,223,514
79$30,102,556$10,443,355$7,488,965$25,305,068
80$33,076,999$10,859,061$7,643,828$27,589,344
81$36,351,810$11,292,112$7,800,853$30,096,683
82$39,957,532$11,743,263$7,960,019$32,849,485
83$43,927,820$12,213,302$8,121,299$35,872,426
84$48,299,757$12,703,054$8,284,662$39,192,680
85$53,114,208$13,213,379$8,450,074$42,840,184
86$58,416,201$13,745,179$8,617,496$46,847,909
87$64,255,354$14,299,393$8,786,882$51,252,178
88$70,686,343$14,877,006$8,958,186$56,092,998
89$77,769,416$15,479,046$9,131,351$61,414,445
90$85,570,965$16,106,587$9,306,320$67,265,069
91$94,164,147$16,760,754$9,483,025$73,698,358
92$103,629,579$17,442,720$9,661,396$80,773,233
93$114,056,098$18,153,715$9,841,354$88,554,609
94$125,541,594$18,895,021$10,022,813$97,113,999
95$138,193,942$19,667,983$10,205,683$106,530,190
96$152,132,014$20,474,003$10,389,863$116,889,984
97$167,486,800$21,314,551$10,575,245$128,289,012
98$184,402,651$22,191,161$10,761,712$140,832,638
99$203,038,633$23,105,439$10,949,141$154,636,945
100$223,570,032$24,059,064$11,137,396$169,829,833