Can I retire at age 61 with 788,000?

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 $788,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$65,072$64,493$63,927$63,375$62,836$60,849
2 years$32,214$31,614$31,033$30,469$29,922$27,938
3 years$21,263$20,660$20,080$19,522$18,984$17,065
4 years$15,788$15,187$14,613$14,064$13,539$11,701
5 years$12,504$11,907$11,340$10,803$10,292$8,539
6 years$10,316$9,723$9,165$8,639$8,144$6,477
7 years$8,753$8,165$7,616$7,103$6,623$5,043
8 years$7,582$6,999$6,459$5,958$5,495$3,999
9 years$6,671$6,094$5,563$5,075$4,627$3,216
10 years$5,943$5,372$4,850$4,375$3,943$2,613
11 years$5,348$4,782$4,270$3,807$3,391$2,140
12 years$4,852$4,292$3,789$3,340$2,938$1,764
13 years$4,433$3,879$3,386$2,948$2,562$1,461
14 years$4,074$3,526$3,042$2,617$2,246$1,216
15 years$3,763$3,221$2,746$2,334$1,978$1,015
16 years$3,491$2,955$2,490$2,090$1,748$849
17 years$3,252$2,721$2,266$1,878$1,550$713
18 years$3,039$2,515$2,068$1,692$1,378$599
19 years$2,849$2,331$1,894$1,529$1,228$504
20 years$2,678$2,166$1,738$1,385$1,097$425
21 years$2,524$2,017$1,598$1,257$982$359
22 years$2,384$1,883$1,473$1,143$880$303
23 years$2,256$1,761$1,360$1,041$790$256
24 years$2,139$1,650$1,258$949$710$217
25 years$2,032$1,549$1,165$867$639$183
26 years$1,933$1,455$1,081$793$576$155
27 years$1,841$1,370$1,003$726$519$132
28 years$1,756$1,291$933$665$468$111
29 years$1,677$1,218$868$610$423$94
30 years$1,604$1,150$809$559$382$80
31 years$1,535$1,087$754$514$345$68
32 years$1,471$1,029$703$472$312$58
33 years$1,411$974$657$434$283$49
34 years$1,355$923$614$400$256$41
35 years$1,302$876$574$368$232$35
36 years$1,252$831$537$339$210$30
37 years$1,204$789$502$312$190$25
38 years$1,160$750$470$288$173$21
39 years$1,117$713$441$265$157$18
40 years$1,077$679$413$245$142$15
41 years$1,039$646$387$226$129$13
42 years$1,003$615$363$208$117$11
43 years$969$586$341$192$106$9
44 years$936$559$320$178$96$8
45 years$905$533$300$164$87$7
46 years$875$508$282$151$79$6
47 years$847$485$265$140$72$5
48 years$820$463$249$129$65$4
49 years$794$442$234$119$59$4
50 years$769$422$220$110$54$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $788,000, adding $5,643 every year, while hoping to spend $48,464 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: 61/30/9 Blend
60$788,000$788,000$788,000$788,000
61$874,197$832,433$820,219$925,446
62$911,800$821,657$796,131$949,679
63$951,613$808,728$769,612$970,037
64$993,813$793,491$740,528$991,038
65$1,038,588$775,778$708,743$1,012,745
66$1,086,148$755,416$674,110$1,035,229
67$1,136,721$732,216$636,477$1,058,570
68$1,190,555$705,983$595,688$1,082,860
69$1,247,923$676,508$551,575$1,108,202
70$1,309,125$643,571$503,967$1,134,711
71$1,374,487$606,937$452,681$1,162,516
72$1,444,370$566,362$397,531$1,191,765
73$1,519,165$521,584$338,318$1,222,622
74$1,599,305$472,326$274,837$1,255,270
75$1,685,263$418,298$206,872$1,289,917
76$1,777,557$359,193$134,200$1,326,793
77$1,876,758$294,683$56,585$1,366,157
78$1,983,490$224,426$0$1,408,301
79$2,098,442$148,058$0$1,456,066
80$2,222,367$65,197$0$1,513,258
81$2,356,093$0$0$1,574,867
82$2,500,531$0$0$1,649,479
83$2,656,682$0$0$1,753,456
84$2,825,645$0$0$1,866,015
85$3,008,628$0$0$1,987,967
86$3,206,961$0$0$2,120,203
87$3,422,104$0$0$2,263,706
88$3,655,665$0$0$2,419,555
89$3,909,411$0$0$2,588,935
90$4,185,287$0$0$2,773,155
91$4,485,431$0$0$2,973,649
92$4,812,197$0$0$3,191,999
93$5,168,175$0$0$3,429,944
94$5,556,214$0$0$3,689,399
95$5,979,451$0$0$3,972,471
96$6,441,338$0$0$4,281,479
97$6,945,675$0$0$4,618,976
98$7,496,645$0$0$4,987,773
99$8,098,853$0$0$5,390,963
100$8,757,368$0$0$5,831,953