Can I retire at age 61 with 783,000?

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 $783,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$64,659$64,083$63,522$62,973$62,438$60,731
2 years$32,010$31,413$30,836$30,276$29,732$28,025
3 years$21,128$20,529$19,953$19,398$18,863$17,210
4 years$15,688$15,091$14,520$13,975$13,453$11,866
5 years$12,425$11,832$11,268$10,734$10,227$8,710
6 years$10,250$9,661$9,107$8,584$8,092$6,646
7 years$8,697$8,114$7,568$7,058$6,581$5,207
8 years$7,533$6,955$6,418$5,920$5,460$4,156
9 years$6,629$6,055$5,528$5,043$4,598$3,364
10 years$5,905$5,338$4,819$4,347$3,918$2,752
11 years$5,314$4,752$4,243$3,783$3,369$2,270
12 years$4,821$4,265$3,765$3,318$2,920$1,885
13 years$4,404$3,854$3,364$2,930$2,546$1,573
14 years$4,048$3,503$3,023$2,601$2,232$1,319
15 years$3,739$3,200$2,729$2,319$1,965$1,110
16 years$3,469$2,936$2,474$2,077$1,737$936
17 years$3,231$2,704$2,252$1,866$1,540$792
18 years$3,020$2,499$2,055$1,682$1,369$671
19 years$2,831$2,316$1,882$1,519$1,220$570
20 years$2,661$2,152$1,727$1,376$1,090$484
21 years$2,508$2,005$1,588$1,249$976$412
22 years$2,369$1,871$1,464$1,136$874$351
23 years$2,242$1,750$1,352$1,034$785$299
24 years$2,125$1,640$1,250$943$706$255
25 years$2,019$1,539$1,158$861$635$218
26 years$1,920$1,446$1,074$788$572$186
27 years$1,829$1,361$997$721$516$159
28 years$1,745$1,283$927$661$465$136
29 years$1,667$1,210$863$606$420$116
30 years$1,594$1,143$803$556$380$100
31 years$1,526$1,080$749$511$343$85
32 years$1,462$1,022$699$469$310$73
33 years$1,402$968$653$431$281$62
34 years$1,346$917$610$397$254$53
35 years$1,293$870$570$365$230$46
36 years$1,244$826$533$337$209$39
37 years$1,197$784$499$310$189$34
38 years$1,152$745$467$286$172$29
39 years$1,110$709$438$264$156$25
40 years$1,070$674$410$243$141$21
41 years$1,033$642$385$224$128$18
42 years$997$611$361$207$116$15
43 years$963$583$339$191$105$13
44 years$930$555$318$176$96$11
45 years$899$529$299$163$87$10
46 years$870$505$280$150$79$8
47 years$842$482$263$139$72$7
48 years$815$460$248$128$65$6
49 years$789$439$233$119$59$5
50 years$764$420$219$110$54$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $783,000, adding $3,333 every year, while hoping to spend $39,206 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
60$783,000$783,000$783,000$783,000
61$866,304$824,805$812,668$899,021
62$912,952$823,506$798,178$921,136
63$963,044$820,828$781,888$940,997
64$1,016,891$816,665$763,697$961,723
65$1,074,831$810,899$743,498$983,413
66$1,137,239$803,408$721,181$1,006,179
67$1,204,525$794,063$696,629$1,030,148
68$1,277,140$782,726$669,719$1,055,460
69$1,355,579$769,250$640,325$1,082,276
70$1,440,387$753,481$608,314$1,110,773
71$1,532,160$735,256$573,547$1,141,151
72$1,631,557$714,400$535,877$1,173,634
73$1,739,301$690,731$495,154$1,208,472
74$1,856,187$664,054$451,219$1,245,945
75$1,983,088$634,163$403,905$1,286,366
76$2,120,967$600,840$353,040$1,330,082
77$2,270,881$563,857$298,442$1,377,485
78$2,433,994$522,969$239,923$1,429,006
79$2,611,586$477,919$177,285$1,485,132
80$2,805,066$428,435$110,322$1,546,399
81$3,015,984$374,231$38,820$1,613,408
82$3,246,048$315,001$0$1,686,826
83$3,497,135$250,426$0$1,775,795
84$3,771,312$180,166$0$1,882,570
85$4,070,856$103,865$0$1,999,414
86$4,398,271$21,142$0$2,127,403
87$4,756,317$0$0$2,267,727
88$5,148,030$0$0$2,448,049
89$5,576,755$0$0$2,654,413
90$6,046,175$0$0$2,880,461
91$6,560,343$0$0$3,128,158
92$7,123,727$0$0$3,399,668
93$7,741,244$0$0$3,697,373
94$8,418,311$0$0$4,023,899
95$9,160,894$0$0$4,382,136
96$9,975,563$0$0$4,775,270
97$10,869,557$0$0$5,206,807
98$11,850,848$0$0$5,680,611
99$12,928,217$0$0$6,200,938
100$14,111,338$0$0$6,772,478