Can I retire at age 60 with 848,000?

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 $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%13.3%
1 years$70,027$69,403$68,795$68,201$67,621$66,693
2 years$34,667$34,021$33,395$32,789$32,200$31,267
3 years$22,882$22,233$21,609$21,008$20,429$19,520
4 years$16,990$16,344$15,726$15,135$14,570$13,692
5 years$13,456$12,814$12,204$11,625$11,076$10,231
6 years$11,101$10,463$9,863$9,297$8,764$7,953
7 years$9,419$8,787$8,196$7,643$7,128$6,351
8 years$8,159$7,532$6,951$6,412$5,913$5,171
9 years$7,179$6,558$5,987$5,461$4,980$4,272
10 years$6,395$5,781$5,219$4,708$4,243$3,568
11 years$5,755$5,146$4,595$4,097$3,649$3,007
12 years$5,221$4,619$4,078$3,594$3,162$2,553
13 years$4,770$4,174$3,643$3,173$2,757$2,180
14 years$4,384$3,794$3,274$2,816$2,417$1,870
15 years$4,049$3,466$2,956$2,512$2,128$1,610
16 years$3,757$3,180$2,680$2,249$1,881$1,392
17 years$3,499$2,929$2,438$2,021$1,668$1,206
18 years$3,270$2,706$2,226$1,821$1,483$1,048
19 years$3,066$2,508$2,038$1,646$1,322$912
20 years$2,882$2,331$1,870$1,490$1,181$795
21 years$2,716$2,171$1,720$1,353$1,057$695
22 years$2,565$2,026$1,585$1,230$947$608
23 years$2,428$1,895$1,464$1,120$850$532
24 years$2,302$1,776$1,354$1,022$764$466
25 years$2,186$1,667$1,254$933$688$409
26 years$2,080$1,566$1,163$853$619$359
27 years$1,981$1,474$1,080$781$558$315
28 years$1,890$1,389$1,004$715$504$277
29 years$1,805$1,310$934$656$455$244
30 years$1,726$1,237$870$602$411$214
31 years$1,652$1,170$811$553$372$189
32 years$1,583$1,107$757$508$336$166
33 years$1,519$1,048$707$467$304$146
34 years$1,458$993$660$430$275$129
35 years$1,401$942$617$396$250$114
36 years$1,347$894$578$365$226$100
37 years$1,296$849$541$336$205$88
38 years$1,248$807$506$310$186$78
39 years$1,202$768$474$285$168$69
40 years$1,159$730$445$263$153$60
41 years$1,118$695$417$243$139$53
42 years$1,080$662$391$224$126$47
43 years$1,043$631$367$207$114$42
44 years$1,008$601$344$191$104$37
45 years$974$573$323$176$94$32
46 years$942$547$304$163$85$28
47 years$912$522$285$151$78$25
48 years$882$498$268$139$70$22
49 years$855$476$252$129$64$20
50 years$828$455$237$119$58$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $848,000, adding $5,945 every year, while hoping to spend $46,383 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: 46/42/12 Blend
59$848,000$848,000$848,000$848,000
60$940,628$895,684$882,540$980,458
61$987,221$890,222$862,754$1,003,184
62$1,037,012$882,937$840,751$1,022,597
63$1,090,278$873,691$816,407$1,042,621
64$1,147,323$862,339$789,593$1,063,329
65$1,208,481$848,724$760,175$1,084,807
66$1,274,116$832,682$728,011$1,107,148
67$1,344,632$814,039$692,955$1,130,462
68$1,420,467$792,610$654,852$1,154,871
69$1,502,106$768,199$613,541$1,180,516
70$1,590,080$740,600$568,854$1,207,552
71$1,684,972$709,593$520,614$1,236,158
72$1,787,423$674,948$468,639$1,266,534
73$1,898,138$636,418$412,736$1,298,905
74$2,017,890$593,744$352,705$1,333,525
75$2,147,530$546,653$288,336$1,370,678
76$2,287,994$494,855$219,411$1,410,684
77$2,440,309$438,043$145,701$1,453,902
78$2,605,608$375,894$66,969$1,500,732
79$2,785,133$308,066$0$1,551,623
80$2,980,253$234,197$0$1,609,262
81$3,192,473$153,907$0$1,681,319
82$3,423,448$66,792$0$1,759,872
83$3,675,001$0$0$1,845,657
84$3,949,138$0$0$1,952,237
85$4,248,063$0$0$2,102,204
86$4,574,207$0$0$2,265,919
87$4,930,242$0$0$2,444,736
88$5,319,110$0$0$2,640,144
89$5,744,052$0$0$2,853,785
90$6,208,632$0$0$3,087,463
91$6,716,779$0$0$3,343,169
92$7,272,815$0$0$3,623,091
93$7,881,501$0$0$3,929,641
94$8,548,079$0$0$4,265,475
95$9,278,322$0$0$4,633,517
96$10,078,587$0$0$5,036,987
97$10,955,876$0$0$5,479,433
98$11,917,901$0$0$5,964,761
99$12,973,156$0$0$6,497,276
100$14,130,994$0$0$7,081,716