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%15.2%
1 years$70,027$69,403$68,795$68,201$67,621$66,174
2 years$34,667$34,021$33,395$32,789$32,200$30,750
3 years$22,882$22,233$21,609$21,008$20,429$19,020
4 years$16,990$16,344$15,726$15,135$14,570$13,214
5 years$13,456$12,814$12,204$11,625$11,076$9,776
6 years$11,101$10,463$9,863$9,297$8,764$7,521
7 years$9,419$8,787$8,196$7,643$7,128$5,943
8 years$8,159$7,532$6,951$6,412$5,913$4,786
9 years$7,179$6,558$5,987$5,461$4,980$3,909
10 years$6,395$5,781$5,219$4,708$4,243$3,228
11 years$5,755$5,146$4,595$4,097$3,649$2,688
12 years$5,221$4,619$4,078$3,594$3,162$2,254
13 years$4,770$4,174$3,643$3,173$2,757$1,900
14 years$4,384$3,794$3,274$2,816$2,417$1,609
15 years$4,049$3,466$2,956$2,512$2,128$1,368
16 years$3,757$3,180$2,680$2,249$1,881$1,167
17 years$3,499$2,929$2,438$2,021$1,668$997
18 years$3,270$2,706$2,226$1,821$1,483$855
19 years$3,066$2,508$2,038$1,646$1,322$734
20 years$2,882$2,331$1,870$1,490$1,181$631
21 years$2,716$2,171$1,720$1,353$1,057$543
22 years$2,565$2,026$1,585$1,230$947$468
23 years$2,428$1,895$1,464$1,120$850$404
24 years$2,302$1,776$1,354$1,022$764$349
25 years$2,186$1,667$1,254$933$688$301
26 years$2,080$1,566$1,163$853$619$261
27 years$1,981$1,474$1,080$781$558$225
28 years$1,890$1,389$1,004$715$504$195
29 years$1,805$1,310$934$656$455$169
30 years$1,726$1,237$870$602$411$146
31 years$1,652$1,170$811$553$372$127
32 years$1,583$1,107$757$508$336$110
33 years$1,519$1,048$707$467$304$95
34 years$1,458$993$660$430$275$83
35 years$1,401$942$617$396$250$72
36 years$1,347$894$578$365$226$62
37 years$1,296$849$541$336$205$54
38 years$1,248$807$506$310$186$47
39 years$1,202$768$474$285$168$41
40 years$1,159$730$445$263$153$35
41 years$1,118$695$417$243$139$30
42 years$1,080$662$391$224$126$26
43 years$1,043$631$367$207$114$23
44 years$1,008$601$344$191$104$20
45 years$974$573$323$176$94$17
46 years$942$547$304$163$85$15
47 years$912$522$285$151$78$13
48 years$882$498$268$139$70$11
49 years$855$476$252$129$64$10
50 years$828$455$237$119$58$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $848,000, adding $5,681 every year, while hoping to spend $23,735 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: 57/28/15 Blend
59$848,000$848,000$848,000$848,000
60$940,356$895,412$882,268$989,999
61$1,011,018$914,033$886,570$1,042,913
62$1,088,093$932,772$890,221$1,097,458
63$1,172,208$951,607$893,173$1,156,347
64$1,264,057$970,520$895,378$1,220,003
65$1,364,402$989,486$896,784$1,288,889
66$1,474,081$1,008,481$897,336$1,363,517
67$1,594,018$1,027,478$896,978$1,444,450
68$1,725,231$1,046,447$895,650$1,532,310
69$1,868,839$1,065,357$893,289$1,627,780
70$2,026,076$1,084,175$889,829$1,731,616
71$2,198,299$1,102,863$885,202$1,844,649
72$2,387,004$1,121,382$879,335$1,967,795
73$2,593,839$1,139,689$872,152$2,102,066
74$2,820,616$1,157,740$863,575$2,248,574
75$3,069,334$1,175,484$853,520$2,408,549
76$3,342,193$1,192,870$841,900$2,583,342
77$3,641,617$1,209,841$828,624$2,774,446
78$3,970,275$1,226,337$813,596$2,983,506
79$4,331,109$1,242,293$796,718$3,212,334
80$4,727,358$1,257,641$777,883$3,462,928
81$5,162,590$1,272,307$756,984$3,737,493
82$5,640,737$1,286,213$733,906$4,038,457
83$6,166,129$1,299,274$708,528$4,368,496
84$6,743,537$1,311,401$680,727$4,730,562
85$7,378,217$1,322,499$650,371$5,127,909
86$8,075,960$1,332,467$617,323$5,564,122
87$8,843,146$1,341,195$581,441$6,043,156
88$9,686,802$1,348,570$542,575$6,569,368
89$10,614,674$1,354,468$500,569$7,147,564
90$11,635,293$1,358,759$455,261$7,783,037
91$12,758,060$1,361,305$406,479$8,481,628
92$13,993,332$1,361,959$354,046$9,249,770
93$15,352,521$1,360,564$297,775$10,094,558
94$16,848,202$1,356,955$237,474$11,023,812
95$18,494,228$1,350,955$172,939$12,046,150
96$20,305,865$1,342,378$103,958$13,171,074
97$22,299,933$1,331,025$30,311$14,409,058
98$24,494,968$1,316,686$0$15,771,646
99$26,911,389$1,299,139$0$17,279,290
100$29,571,701$1,278,146$0$18,943,971