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%14.1%
1 years$396,380$392,849$389,404$386,042$382,759$376,263
2 years$196,227$192,573$189,031$185,597$182,266$175,742
3 years$129,519$125,849$122,316$118,914$115,637$109,287
4 years$96,171$92,512$89,014$85,671$82,473$76,347
5 years$76,168$72,531$69,079$65,803$62,695$56,810
6 years$62,836$59,227$55,826$52,623$49,608$43,971
7 years$53,318$49,738$46,392$43,265$40,345$34,957
8 years$46,182$42,635$39,344$36,294$33,470$28,330
9 years$40,635$37,121$33,887$30,914$28,187$23,292
10 years$36,200$32,721$29,543$26,648$24,016$19,363
11 years$32,574$29,129$26,009$23,192$20,655$16,238
12 years$29,554$26,145$23,083$20,342$17,899$13,713
13 years$27,001$23,627$20,623$17,959$15,608$11,646
14 years$24,814$21,477$18,530$15,942$13,682$9,937
15 years$22,921$19,619$16,730$14,218$12,047$8,512
16 years$21,266$18,000$15,168$12,730$10,647$7,315
17 years$19,807$16,578$13,802$11,438$9,440$6,304
18 years$18,512$15,318$12,600$10,308$8,394$5,445
19 years$17,354$14,197$11,534$9,314$7,482$4,712
20 years$16,314$13,193$10,586$8,436$6,683$4,085
21 years$15,373$12,288$9,737$7,656$5,980$3,547
22 years$14,520$11,471$8,974$6,961$5,361$3,083
23 years$13,742$10,728$8,286$6,340$4,812$2,683
24 years$13,029$10,052$7,663$5,782$4,325$2,337
25 years$12,375$9,433$7,098$5,281$3,892$2,037
26 years$11,772$8,866$6,583$4,828$3,506$1,777
27 years$11,215$8,344$6,113$4,419$3,161$1,551
28 years$10,698$7,862$5,682$4,049$2,852$1,354
29 years$10,218$7,417$5,288$3,713$2,575$1,183
30 years$9,771$7,005$4,926$3,408$2,327$1,034
31 years$9,353$6,622$4,592$3,130$2,104$904
32 years$8,962$6,265$4,284$2,876$1,903$791
33 years$8,596$5,933$4,000$2,645$1,722$692
34 years$8,252$5,624$3,738$2,434$1,559$605
35 years$7,928$5,334$3,494$2,240$1,412$530
36 years$7,624$5,063$3,269$2,063$1,280$464
37 years$7,336$4,808$3,060$1,901$1,160$406
38 years$7,064$4,570$2,865$1,752$1,051$355
39 years$6,806$4,345$2,684$1,616$953$311
40 years$6,562$4,134$2,516$1,490$865$273
41 years$6,331$3,935$2,359$1,375$785$239
42 years$6,111$3,748$2,213$1,269$712$209
43 years$5,902$3,571$2,077$1,171$646$183
44 years$5,703$3,404$1,949$1,082$586$160
45 years$5,513$3,246$1,830$999$532$141
46 years$5,333$3,096$1,719$923$483$123
47 years$5,160$2,955$1,615$852$439$108
48 years$4,995$2,821$1,518$788$399$95
49 years$4,837$2,694$1,427$728$362$83
50 years$4,686$2,573$1,341$673$329$73

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 $3,308 every year, while hoping to spend $28,538 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: 48/29/23 Blend
59$4,800,000$4,800,000$4,800,000$4,800,000
60$5,293,012$5,038,612$4,964,212$5,512,364
61$5,802,535$5,255,140$5,100,149$5,882,458
62$6,363,073$5,481,321$5,239,683$6,281,003
63$6,979,799$5,717,599$5,382,906$6,713,219
64$7,658,414$5,964,436$5,529,908$7,182,284
65$8,405,197$6,222,319$5,680,785$7,691,692
66$9,227,070$6,491,755$5,835,634$8,245,280
67$10,131,657$6,773,276$5,994,553$8,847,267
68$11,127,359$7,067,440$6,157,644$9,502,291
69$12,223,435$7,374,830$6,325,010$10,215,450
70$13,430,085$7,696,056$6,496,758$10,992,352
71$14,758,548$8,031,758$6,672,994$11,839,161
72$16,221,211$8,382,604$6,853,830$12,762,660
73$17,831,719$8,749,297$7,039,378$13,770,308
74$19,605,112$9,132,570$7,229,755$14,870,309
75$21,557,960$9,533,192$7,425,078$16,071,691
76$23,708,521$9,951,968$7,625,467$17,384,386
77$26,076,917$10,389,741$7,831,047$18,819,323
78$28,685,318$10,847,394$8,041,943$20,388,528
79$31,558,155$11,325,851$8,258,283$22,105,235
80$34,722,351$11,826,081$8,480,199$23,984,012
81$38,207,570$12,349,099$8,707,825$26,040,891
82$42,046,503$12,895,965$8,941,297$28,293,518
83$46,275,172$13,467,794$9,180,757$30,761,322
84$50,933,273$14,065,750$9,426,346$33,465,688
85$56,064,549$14,691,053$9,678,211$36,430,159
86$61,717,202$15,344,983$9,936,500$39,680,657
87$67,944,348$16,028,879$10,201,364$43,245,723
88$74,804,521$16,744,144$10,472,959$47,156,782
89$82,362,222$17,492,246$10,751,443$51,448,437
90$90,688,529$18,274,727$11,036,977$56,158,793
91$99,861,768$19,093,198$11,329,724$61,329,811
92$109,968,252$19,949,348$11,629,854$67,007,701
93$121,103,096$20,844,949$11,937,537$73,243,354
94$133,371,114$21,781,853$12,252,946$80,092,817
95$146,887,808$22,762,004$12,576,260$87,617,822
96$161,780,459$23,787,437$12,907,659$95,886,355
97$178,189,329$24,860,284$13,247,329$104,973,303
98$196,268,982$25,982,780$13,595,456$114,961,150
99$216,189,746$27,157,264$13,952,232$125,940,748
100$238,139,320$28,386,190$14,317,852$138,012,176