Can I retire at age 60 with 848,000?

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 $848,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$70,027$69,403$68,795$68,201$67,621$66,638
2 years$34,667$34,021$33,395$32,789$32,200$31,212
3 years$22,882$22,233$21,609$21,008$20,429$19,466
4 years$16,990$16,344$15,726$15,135$14,570$13,640
5 years$13,456$12,814$12,204$11,625$11,076$10,182
6 years$11,101$10,463$9,863$9,297$8,764$7,906
7 years$9,419$8,787$8,196$7,643$7,128$6,307
8 years$8,159$7,532$6,951$6,412$5,913$5,129
9 years$7,179$6,558$5,987$5,461$4,980$4,232
10 years$6,395$5,781$5,219$4,708$4,243$3,531
11 years$5,755$5,146$4,595$4,097$3,649$2,972
12 years$5,221$4,619$4,078$3,594$3,162$2,520
13 years$4,770$4,174$3,643$3,173$2,757$2,148
14 years$4,384$3,794$3,274$2,816$2,417$1,841
15 years$4,049$3,466$2,956$2,512$2,128$1,583
16 years$3,757$3,180$2,680$2,249$1,881$1,366
17 years$3,499$2,929$2,438$2,021$1,668$1,182
18 years$3,270$2,706$2,226$1,821$1,483$1,026
19 years$3,066$2,508$2,038$1,646$1,322$892
20 years$2,882$2,331$1,870$1,490$1,181$776
21 years$2,716$2,171$1,720$1,353$1,057$677
22 years$2,565$2,026$1,585$1,230$947$591
23 years$2,428$1,895$1,464$1,120$850$517
24 years$2,302$1,776$1,354$1,022$764$452
25 years$2,186$1,667$1,254$933$688$396
26 years$2,080$1,566$1,163$853$619$347
27 years$1,981$1,474$1,080$781$558$305
28 years$1,890$1,389$1,004$715$504$267
29 years$1,805$1,310$934$656$455$235
30 years$1,726$1,237$870$602$411$206
31 years$1,652$1,170$811$553$372$181
32 years$1,583$1,107$757$508$336$159
33 years$1,519$1,048$707$467$304$140
34 years$1,458$993$660$430$275$123
35 years$1,401$942$617$396$250$108
36 years$1,347$894$578$365$226$95
37 years$1,296$849$541$336$205$84
38 years$1,248$807$506$310$186$74
39 years$1,202$768$474$285$168$65
40 years$1,159$730$445$263$153$57
41 years$1,118$695$417$243$139$50
42 years$1,080$662$391$224$126$44
43 years$1,043$631$367$207$114$39
44 years$1,008$601$344$191$104$34
45 years$974$573$323$176$94$30
46 years$942$547$304$163$85$27
47 years$912$522$285$151$78$23
48 years$882$498$268$139$70$21
49 years$855$476$252$129$64$18
50 years$828$455$237$119$58$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $848,000, adding $2,510 every year, while hoping to spend $31,453 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: 68/27/5 Blend
59$848,000$848,000$848,000$848,000
60$937,085$892,141$878,997$1,000,099
61$999,202$902,390$874,978$1,052,380
62$1,066,601$912,087$869,770$1,105,453
63$1,139,787$921,172$863,300$1,162,626
64$1,219,316$929,581$855,491$1,224,294
65$1,305,800$937,245$846,264$1,290,893
66$1,399,913$944,090$835,535$1,362,902
67$1,502,393$950,040$823,215$1,440,850
68$1,614,058$955,012$809,213$1,525,318
69$1,735,802$958,918$793,431$1,616,949
70$1,868,612$961,664$775,770$1,716,451
71$2,013,576$963,151$756,124$1,824,605
72$2,171,889$963,274$734,382$1,942,271
73$2,344,867$961,919$710,430$2,070,397
74$2,533,960$958,969$684,145$2,210,030
75$2,740,762$954,297$655,402$2,362,324
76$2,967,030$947,768$624,069$2,528,549
77$3,214,699$939,241$590,007$2,710,109
78$3,485,899$928,565$553,073$2,908,549
79$3,782,976$915,579$513,116$3,125,574
80$4,108,512$900,115$469,977$3,363,064
81$4,465,352$881,993$423,494$3,623,091
82$4,856,630$861,022$373,493$3,907,941
83$5,285,796$837,002$319,795$4,220,133
84$5,756,652$809,720$262,212$4,562,446
85$6,273,383$778,949$200,549$4,937,944
86$6,840,603$744,451$134,602$5,350,004
87$7,463,389$705,975$64,156$5,802,350
88$8,147,339$663,251$0$6,299,088
89$8,898,616$615,999$0$6,845,335
90$9,724,011$563,919$0$7,449,184
91$10,631,005$506,696$0$8,112,727
92$11,627,839$443,997$0$8,842,043
93$12,723,594$375,467$0$9,643,838
94$13,928,271$300,736$0$10,525,502
95$15,252,892$219,410$0$11,495,181
96$16,709,599$131,072$0$12,561,858
97$18,311,768$35,285$0$13,735,431
98$20,074,139$0$0$15,026,815
99$22,012,950$0$0$16,468,367
100$24,146,095$0$0$18,066,002