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%13.5%
1 years$396,380$392,849$389,404$386,042$382,759$377,195
2 years$196,227$192,573$189,031$185,597$182,266$176,672
3 years$129,519$125,849$122,316$118,914$115,637$110,187
4 years$96,171$92,512$89,014$85,671$82,473$77,209
5 years$76,168$72,531$69,079$65,803$62,695$57,632
6 years$62,836$59,227$55,826$52,623$49,608$44,753
7 years$53,318$49,738$46,392$43,265$40,345$35,698
8 years$46,182$42,635$39,344$36,294$33,470$29,031
9 years$40,635$37,121$33,887$30,914$28,187$23,954
10 years$36,200$32,721$29,543$26,648$24,016$19,986
11 years$32,574$29,129$26,009$23,192$20,655$16,824
12 years$29,554$26,145$23,083$20,342$17,899$14,262
13 years$27,001$23,627$20,623$17,959$15,608$12,161
14 years$24,814$21,477$18,530$15,942$13,682$10,418
15 years$22,921$19,619$16,730$14,218$12,047$8,961
16 years$21,266$18,000$15,168$12,730$10,647$7,733
17 years$19,807$16,578$13,802$11,438$9,440$6,693
18 years$18,512$15,318$12,600$10,308$8,394$5,806
19 years$17,354$14,197$11,534$9,314$7,482$5,047
20 years$16,314$13,193$10,586$8,436$6,683$4,395
21 years$15,373$12,288$9,737$7,656$5,980$3,833
22 years$14,520$11,471$8,974$6,961$5,361$3,347
23 years$13,742$10,728$8,286$6,340$4,812$2,926
24 years$13,029$10,052$7,663$5,782$4,325$2,560
25 years$12,375$9,433$7,098$5,281$3,892$2,242
26 years$11,772$8,866$6,583$4,828$3,506$1,965
27 years$11,215$8,344$6,113$4,419$3,161$1,724
28 years$10,698$7,862$5,682$4,049$2,852$1,513
29 years$10,218$7,417$5,288$3,713$2,575$1,328
30 years$9,771$7,005$4,926$3,408$2,327$1,166
31 years$9,353$6,622$4,592$3,130$2,104$1,025
32 years$8,962$6,265$4,284$2,876$1,903$901
33 years$8,596$5,933$4,000$2,645$1,722$792
34 years$8,252$5,624$3,738$2,434$1,559$697
35 years$7,928$5,334$3,494$2,240$1,412$613
36 years$7,624$5,063$3,269$2,063$1,280$539
37 years$7,336$4,808$3,060$1,901$1,160$474
38 years$7,064$4,570$2,865$1,752$1,051$417
39 years$6,806$4,345$2,684$1,616$953$367
40 years$6,562$4,134$2,516$1,490$865$323
41 years$6,331$3,935$2,359$1,375$785$285
42 years$6,111$3,748$2,213$1,269$712$251
43 years$5,902$3,571$2,077$1,171$646$221
44 years$5,703$3,404$1,949$1,082$586$194
45 years$5,513$3,246$1,830$999$532$171
46 years$5,333$3,096$1,719$923$483$151
47 years$5,160$2,955$1,615$852$439$133
48 years$4,995$2,821$1,518$788$399$117
49 years$4,837$2,694$1,427$728$362$103
50 years$4,686$2,573$1,341$673$329$91

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 $3,654 every year, while hoping to spend $26,960 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: 21/49/30 Blend
59$4,800,000$4,800,000$4,800,000$4,800,000
60$5,293,369$5,038,969$4,964,569$5,354,128
61$5,804,608$5,257,193$5,102,197$5,629,080
62$6,367,089$5,485,207$5,243,532$5,920,322
63$6,986,011$5,723,461$5,388,669$6,231,069
64$7,667,102$5,972,429$5,537,707$6,562,921
65$8,416,672$6,232,604$5,690,747$6,917,624
66$9,241,676$6,504,504$5,847,890$7,297,085
67$10,149,775$6,788,673$6,009,242$7,703,389
68$11,149,411$7,085,678$6,174,911$8,138,814
69$12,249,888$7,396,113$6,345,008$8,605,854
70$13,461,455$7,720,601$6,519,644$9,107,236
71$14,795,408$8,059,795$6,698,937$9,645,944
72$16,264,192$8,414,377$6,883,003$10,225,247
73$17,881,521$8,785,063$7,071,965$10,848,723
74$19,662,506$9,172,601$7,265,946$11,520,294
75$21,623,800$9,577,776$7,465,073$12,244,255
76$23,783,751$10,001,411$7,669,476$13,025,316
77$26,162,577$10,444,364$7,879,288$13,868,638
78$28,782,560$10,907,538$8,094,644$14,779,884
79$31,668,251$11,391,876$8,315,684$15,765,264
80$34,846,703$11,898,368$8,542,549$16,831,591
81$38,347,727$12,428,050$8,775,386$17,986,341
82$42,204,177$12,982,005$9,014,343$19,237,720
83$46,452,251$13,561,371$9,259,571$20,594,739
84$51,131,840$14,167,339$9,511,227$22,067,288
85$56,286,905$14,801,155$9,769,469$23,666,231
86$61,965,883$15,464,126$10,034,461$25,403,500
87$68,222,155$16,157,620$10,306,367$27,292,203
88$75,114,543$16,883,072$10,585,359$29,346,743
89$82,707,868$17,641,983$10,871,609$31,582,945
90$91,073,558$18,435,928$11,165,296$34,018,206
91$100,290,327$19,266,554$11,466,600$36,671,644
92$110,444,915$20,135,591$11,775,706$39,564,277
93$121,632,909$21,044,847$12,092,804$42,719,217
94$133,959,640$21,996,219$12,418,087$46,161,873
95$147,541,183$22,991,693$12,751,753$49,920,190
96$162,505,449$24,033,352$13,094,003$54,024,902
97$178,993,396$25,123,377$13,445,042$58,509,814
98$197,160,353$26,264,053$13,805,082$63,412,114
99$217,177,493$27,457,776$14,174,337$68,772,712
100$239,233,446$28,707,055$14,553,025$74,636,617