Can I retire at age 60 with 847,000?

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 $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%16.4%
1 years$69,944$69,321$68,714$68,120$67,541$65,775
2 years$34,626$33,981$33,356$32,750$32,162$30,395
3 years$22,855$22,207$21,584$20,983$20,405$18,692
4 years$16,970$16,325$15,707$15,117$14,553$12,907
5 years$13,440$12,799$12,190$11,612$11,063$9,489
6 years$11,088$10,451$9,851$9,286$8,754$7,253
7 years$9,408$8,777$8,186$7,634$7,119$5,692
8 years$8,149$7,523$6,943$6,404$5,906$4,552
9 years$7,170$6,550$5,980$5,455$4,974$3,691
10 years$6,388$5,774$5,213$4,702$4,238$3,025
11 years$5,748$5,140$4,590$4,092$3,645$2,500
12 years$5,215$4,613$4,073$3,590$3,158$2,080
13 years$4,765$4,169$3,639$3,169$2,754$1,740
14 years$4,379$3,790$3,270$2,813$2,414$1,461
15 years$4,045$3,462$2,952$2,509$2,126$1,232
16 years$3,753$3,176$2,677$2,246$1,879$1,042
17 years$3,495$2,925$2,436$2,018$1,666$883
18 years$3,267$2,703$2,223$1,819$1,481$750
19 years$3,062$2,505$2,035$1,644$1,320$638
20 years$2,879$2,328$1,868$1,489$1,179$543
21 years$2,713$2,168$1,718$1,351$1,055$464
22 years$2,562$2,024$1,584$1,228$946$396
23 years$2,425$1,893$1,462$1,119$849$338
24 years$2,299$1,774$1,352$1,020$763$289
25 years$2,184$1,665$1,252$932$687$248
26 years$2,077$1,564$1,162$852$619$212
27 years$1,979$1,472$1,079$780$558$182
28 years$1,888$1,387$1,003$715$503$156
29 years$1,803$1,309$933$655$454$134
30 years$1,724$1,236$869$601$411$115
31 years$1,650$1,168$810$552$371$98
32 years$1,581$1,106$756$508$336$84
33 years$1,517$1,047$706$467$304$72
34 years$1,456$992$660$429$275$62
35 years$1,399$941$617$395$249$53
36 years$1,345$893$577$364$226$46
37 years$1,294$848$540$335$205$39
38 years$1,246$806$506$309$186$34
39 years$1,201$767$474$285$168$29
40 years$1,158$730$444$263$153$25
41 years$1,117$694$416$243$138$21
42 years$1,078$661$391$224$126$18
43 years$1,041$630$366$207$114$16
44 years$1,006$601$344$191$103$14
45 years$973$573$323$176$94$12
46 years$941$546$303$163$85$10
47 years$911$521$285$150$77$9
48 years$881$498$268$139$70$7
49 years$854$475$252$128$64$6
50 years$827$454$237$119$58$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $847,000, adding $2,612 every year, while hoping to spend $37,761 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: 44/35/21 Blend
59$847,000$847,000$847,000$847,000
60$936,088$891,197$878,069$971,479
61$991,392$894,689$867,307$1,000,202
62$1,051,071$897,085$854,918$1,027,418
63$1,115,532$898,294$840,810$1,056,145
64$1,185,221$898,215$824,882$1,086,543
65$1,260,629$896,744$807,031$1,118,789
66$1,342,297$893,768$787,150$1,153,079
67$1,430,816$889,168$765,125$1,189,633
68$1,526,841$882,818$740,838$1,228,696
69$1,631,087$874,584$714,164$1,270,540
70$1,744,344$864,325$684,975$1,315,466
71$1,867,481$851,891$653,135$1,363,813
72$2,001,451$837,121$618,503$1,415,952
73$2,147,307$819,847$580,930$1,472,301
74$2,306,203$799,891$540,263$1,533,321
75$2,479,413$777,063$496,339$1,599,523
76$2,668,337$751,163$448,990$1,671,478
77$2,874,516$721,978$398,039$1,749,815
78$3,099,646$689,284$343,303$1,835,237
79$3,345,595$652,844$284,589$1,928,519
80$3,614,419$612,407$221,696$2,030,523
81$3,908,382$567,707$154,415$2,142,203
82$4,229,975$518,464$82,527$2,264,618
83$4,581,944$464,380$5,803$2,398,940
84$4,967,310$405,142$0$2,546,466
85$5,389,400$340,419$0$2,725,683
86$5,851,880$269,860$0$2,923,630
87$6,358,784$193,096$0$3,140,827
88$6,914,558$109,735$0$3,379,285
89$7,524,097$19,366$0$3,641,227
90$8,192,793$0$0$3,929,106
91$8,926,585$0$0$4,275,846
92$9,732,015$0$0$4,664,729
93$10,616,288$0$0$5,091,791
94$11,587,343$0$0$5,560,877
95$12,653,924$0$0$6,076,227
96$13,825,663$0$0$6,642,508
97$15,113,172$0$0$7,264,865
98$16,528,142$0$0$7,948,965
99$18,083,452$0$0$8,701,050
100$19,793,290$0$0$9,527,998