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%
1 years$65,072$64,493$63,927$63,375$62,836$61,045
2 years$32,214$31,614$31,033$30,469$29,922$28,131
3 years$21,263$20,660$20,080$19,522$18,984$17,250
4 years$15,788$15,187$14,613$14,064$13,539$11,875
5 years$12,504$11,907$11,340$10,803$10,292$8,703
6 years$10,316$9,723$9,165$8,639$8,144$6,630
7 years$8,753$8,165$7,616$7,103$6,623$5,186
8 years$7,582$6,999$6,459$5,958$5,495$4,132
9 years$6,671$6,094$5,563$5,075$4,627$3,339
10 years$5,943$5,372$4,850$4,375$3,943$2,726
11 years$5,348$4,782$4,270$3,807$3,391$2,244
12 years$4,852$4,292$3,789$3,340$2,938$1,860
13 years$4,433$3,879$3,386$2,948$2,562$1,549
14 years$4,074$3,526$3,042$2,617$2,246$1,296
15 years$3,763$3,221$2,746$2,334$1,978$1,088
16 years$3,491$2,955$2,490$2,090$1,748$916
17 years$3,252$2,721$2,266$1,878$1,550$773
18 years$3,039$2,515$2,068$1,692$1,378$654
19 years$2,849$2,331$1,894$1,529$1,228$554
20 years$2,678$2,166$1,738$1,385$1,097$469
21 years$2,524$2,017$1,598$1,257$982$399
22 years$2,384$1,883$1,473$1,143$880$339
23 years$2,256$1,761$1,360$1,041$790$288
24 years$2,139$1,650$1,258$949$710$245
25 years$2,032$1,549$1,165$867$639$209
26 years$1,933$1,455$1,081$793$576$178
27 years$1,841$1,370$1,003$726$519$152
28 years$1,756$1,291$933$665$468$130
29 years$1,677$1,218$868$610$423$110
30 years$1,604$1,150$809$559$382$94
31 years$1,535$1,087$754$514$345$80
32 years$1,471$1,029$703$472$312$69
33 years$1,411$974$657$434$283$59
34 years$1,355$923$614$400$256$50
35 years$1,302$876$574$368$232$43
36 years$1,252$831$537$339$210$37
37 years$1,204$789$502$312$190$31
38 years$1,160$750$470$288$173$27
39 years$1,117$713$441$265$157$23
40 years$1,077$679$413$245$142$19
41 years$1,039$646$387$226$129$17
42 years$1,003$615$363$208$117$14
43 years$969$586$341$192$106$12
44 years$936$559$320$178$96$10
45 years$905$533$300$164$87$9
46 years$875$508$282$151$79$8
47 years$847$485$265$140$72$6
48 years$820$463$249$129$65$6
49 years$794$442$234$119$59$5
50 years$769$422$220$110$54$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $788,000, adding $6,444 every year, while hoping to spend $43,761 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: 72/22/6 Blend
60$788,000$788,000$788,000$788,000
61$875,023$833,259$821,045$936,918
62$917,714$827,527$801,989$972,874
63$963,293$820,048$780,827$1,006,126
64$1,012,008$810,690$757,444$1,041,299
65$1,064,131$799,312$731,717$1,078,570
66$1,119,961$785,767$703,518$1,118,132
67$1,179,826$769,898$672,715$1,160,201
68$1,244,084$751,539$639,166$1,205,017
69$1,313,129$730,513$602,727$1,252,841
70$1,387,395$706,635$563,245$1,303,965
71$1,467,356$679,707$520,561$1,358,710
72$1,553,535$649,521$474,508$1,417,432
73$1,646,504$615,856$424,912$1,480,525
74$1,746,892$578,478$371,592$1,548,423
75$1,855,392$537,140$314,358$1,621,606
76$1,972,765$491,582$253,011$1,700,605
77$2,099,845$441,528$187,345$1,786,007
78$2,237,551$386,685$117,143$1,878,461
79$2,386,895$326,747$42,181$1,978,683
80$2,548,987$261,386$0$2,087,465
81$2,725,049$190,259$0$2,208,104
82$2,916,425$113,003$0$2,342,184
83$3,124,595$29,234$0$2,488,088
84$3,351,185$0$0$2,647,013
85$3,597,985$0$0$2,835,158
86$3,866,966$0$0$3,047,960
87$4,160,295$0$0$3,280,061
88$4,480,359$0$0$3,533,355
89$4,829,785$0$0$3,809,925
90$5,211,464$0$0$4,112,064
91$5,628,578$0$0$4,442,297
92$6,084,633$0$0$4,803,405
93$6,583,487$0$0$5,198,447
94$7,129,388$0$0$5,630,794
95$7,727,013$0$0$6,104,157
96$8,381,516$0$0$6,622,622
97$9,098,567$0$0$7,190,690
98$9,884,414$0$0$7,813,316
99$10,745,939$0$0$8,495,959
100$11,690,719$0$0$9,244,630