Can I retire at age 60 with 847,000?

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 $847,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$69,944$69,321$68,714$68,120$67,541$66,286
2 years$34,626$33,981$33,356$32,750$32,162$30,902
3 years$22,855$22,207$21,584$20,983$20,405$19,180
4 years$16,970$16,325$15,707$15,117$14,553$13,372
5 years$13,440$12,799$12,190$11,612$11,063$9,929
6 years$11,088$10,451$9,851$9,286$8,754$7,668
7 years$9,408$8,777$8,186$7,634$7,119$6,083
8 years$8,149$7,523$6,943$6,404$5,906$4,918
9 years$7,170$6,550$5,980$5,455$4,974$4,034
10 years$6,388$5,774$5,213$4,702$4,238$3,345
11 years$5,748$5,140$4,590$4,092$3,645$2,798
12 years$5,215$4,613$4,073$3,590$3,158$2,357
13 years$4,765$4,169$3,639$3,169$2,754$1,997
14 years$4,379$3,790$3,270$2,813$2,414$1,699
15 years$4,045$3,462$2,952$2,509$2,126$1,451
16 years$3,753$3,176$2,677$2,246$1,879$1,244
17 years$3,495$2,925$2,436$2,018$1,666$1,069
18 years$3,267$2,703$2,223$1,819$1,481$920
19 years$3,062$2,505$2,035$1,644$1,320$794
20 years$2,879$2,328$1,868$1,489$1,179$686
21 years$2,713$2,168$1,718$1,351$1,055$594
22 years$2,562$2,024$1,584$1,228$946$515
23 years$2,425$1,893$1,462$1,119$849$447
24 years$2,299$1,774$1,352$1,020$763$388
25 years$2,184$1,665$1,252$932$687$337
26 years$2,077$1,564$1,162$852$619$293
27 years$1,979$1,472$1,079$780$558$255
28 years$1,888$1,387$1,003$715$503$222
29 years$1,803$1,309$933$655$454$193
30 years$1,724$1,236$869$601$411$168
31 years$1,650$1,168$810$552$371$147
32 years$1,581$1,106$756$508$336$128
33 years$1,517$1,047$706$467$304$111
34 years$1,456$992$660$429$275$97
35 years$1,399$941$617$395$249$85
36 years$1,345$893$577$364$226$74
37 years$1,294$848$540$335$205$65
38 years$1,246$806$506$309$186$56
39 years$1,201$767$474$285$168$49
40 years$1,158$730$444$263$153$43
41 years$1,117$694$416$243$138$37
42 years$1,078$661$391$224$126$33
43 years$1,041$630$366$207$114$29
44 years$1,006$601$344$191$103$25
45 years$973$573$323$176$94$22
46 years$941$546$303$163$85$19
47 years$911$521$285$150$77$17
48 years$881$498$268$139$70$14
49 years$854$475$252$128$64$13
50 years$827$454$237$119$58$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $847,000, adding $2,625 every year, while hoping to spend $39,188 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: 55/29/16 Blend
59$847,000$847,000$847,000$847,000
60$936,102$891,211$878,082$983,481
61$989,888$893,184$865,802$1,018,011
62$1,047,848$893,941$851,797$1,051,154
63$1,110,364$893,380$835,969$1,086,360
64$1,177,860$891,395$818,212$1,123,835
65$1,250,799$887,870$798,420$1,163,807
66$1,329,691$882,686$776,477$1,206,530
67$1,415,096$875,714$752,265$1,252,285
68$1,507,630$866,818$725,661$1,301,385
69$1,607,971$855,855$696,533$1,354,173
70$1,716,863$842,671$664,746$1,411,033
71$1,835,126$827,105$630,158$1,472,389
72$1,963,661$808,985$592,620$1,538,710
73$2,103,459$788,130$551,978$1,610,516
74$2,255,611$764,348$508,068$1,688,384
75$2,421,316$737,434$460,722$1,772,950
76$2,601,896$707,174$409,762$1,864,921
77$2,798,804$673,340$355,003$1,965,078
78$3,013,639$635,691$296,253$2,074,284
79$3,248,163$593,972$233,309$2,193,497
80$3,504,312$547,913$165,961$2,323,775
81$3,784,220$497,229$93,990$2,466,287
82$4,090,237$441,620$17,165$2,622,328
83$4,424,949$380,767$0$2,793,329
84$4,791,203$314,334$0$2,991,940
85$5,192,134$241,964$0$3,212,688
86$5,631,195$163,284$0$3,454,620
87$6,112,189$77,897$0$3,719,919
88$6,639,303$0$0$4,010,995
89$7,217,147$0$0$4,335,173
90$7,850,802$0$0$4,717,999
91$8,545,861$0$0$5,138,002
92$9,308,486$0$0$5,598,917
93$10,145,463$0$0$6,104,856
94$11,064,269$0$0$6,660,349
95$12,073,138$0$0$7,270,384
96$13,181,141$0$0$7,940,460
97$14,398,272$0$0$8,676,631
98$15,735,539$0$0$9,485,569
99$17,205,069$0$0$10,374,621
100$18,820,223$0$0$11,351,885