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%12.1%
1 years$65,072$64,493$63,927$63,375$62,836$62,284
2 years$32,214$31,614$31,033$30,469$29,922$29,365
3 years$21,263$20,660$20,080$19,522$18,984$18,440
4 years$15,788$15,187$14,613$14,064$13,539$13,013
5 years$12,504$11,907$11,340$10,803$10,292$9,785
6 years$10,316$9,723$9,165$8,639$8,144$7,656
7 years$8,753$8,165$7,616$7,103$6,623$6,154
8 years$7,582$6,999$6,459$5,958$5,495$5,045
9 years$6,671$6,094$5,563$5,075$4,627$4,197
10 years$5,943$5,372$4,850$4,375$3,943$3,532
11 years$5,348$4,782$4,270$3,807$3,391$2,999
12 years$4,852$4,292$3,789$3,340$2,938$2,565
13 years$4,433$3,879$3,386$2,948$2,562$2,207
14 years$4,074$3,526$3,042$2,617$2,246$1,909
15 years$3,763$3,221$2,746$2,334$1,978$1,657
16 years$3,491$2,955$2,490$2,090$1,748$1,444
17 years$3,252$2,721$2,266$1,878$1,550$1,262
18 years$3,039$2,515$2,068$1,692$1,378$1,106
19 years$2,849$2,331$1,894$1,529$1,228$971
20 years$2,678$2,166$1,738$1,385$1,097$854
21 years$2,524$2,017$1,598$1,257$982$753
22 years$2,384$1,883$1,473$1,143$880$665
23 years$2,256$1,761$1,360$1,041$790$587
24 years$2,139$1,650$1,258$949$710$519
25 years$2,032$1,549$1,165$867$639$460
26 years$1,933$1,455$1,081$793$576$408
27 years$1,841$1,370$1,003$726$519$362
28 years$1,756$1,291$933$665$468$321
29 years$1,677$1,218$868$610$423$285
30 years$1,604$1,150$809$559$382$253
31 years$1,535$1,087$754$514$345$225
32 years$1,471$1,029$703$472$312$200
33 years$1,411$974$657$434$283$178
34 years$1,355$923$614$400$256$158
35 years$1,302$876$574$368$232$141
36 years$1,252$831$537$339$210$125
37 years$1,204$789$502$312$190$112
38 years$1,160$750$470$288$173$100
39 years$1,117$713$441$265$157$89
40 years$1,077$679$413$245$142$79
41 years$1,039$646$387$226$129$70
42 years$1,003$615$363$208$117$63
43 years$969$586$341$192$106$56
44 years$936$559$320$178$96$50
45 years$905$533$300$164$87$44
46 years$875$508$282$151$79$40
47 years$847$485$265$140$72$35
48 years$820$463$249$129$65$31
49 years$794$442$234$119$59$28
50 years$769$422$220$110$54$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $788,000, adding $3,698 every year, while hoping to spend $38,473 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: 79/8/13 Blend
60$788,000$788,000$788,000$788,000
61$872,190$830,426$818,212$938,593
62$920,219$830,182$804,688$982,544
63$971,857$828,637$789,420$1,025,433
64$1,027,432$825,686$772,311$1,071,387
65$1,087,303$821,218$753,257$1,120,697
66$1,151,867$815,116$732,150$1,173,682
67$1,221,556$807,255$708,875$1,230,695
68$1,296,847$797,503$683,316$1,292,124
69$1,378,265$785,721$655,346$1,358,396
70$1,466,386$771,759$624,838$1,429,984
71$1,561,842$755,460$591,655$1,507,407
72$1,665,330$736,658$555,656$1,591,239
73$1,777,616$715,176$516,692$1,682,111
74$1,899,541$690,828$474,610$1,780,721
75$2,032,032$663,416$429,247$1,887,835
76$2,176,107$632,731$380,434$2,004,303
77$2,332,887$598,552$327,996$2,131,055
78$2,503,606$560,645$271,748$2,269,124
79$2,689,620$518,763$211,498$2,419,642
80$2,892,422$472,644$147,044$2,583,862
81$3,113,657$422,011$78,178$2,763,163
82$3,355,134$366,573$4,680$2,959,067
83$3,618,843$306,021$0$3,173,251
84$3,906,978$240,029$0$3,417,795
85$4,221,951$168,251$0$3,685,865
86$4,566,420$90,326$0$3,979,093
87$4,943,310$5,867$0$4,299,995
88$5,355,844$0$0$4,651,341
89$5,807,568$0$0$5,043,713
90$6,302,388$0$0$5,474,108
91$6,844,608$0$0$5,945,756
92$7,438,964$0$0$6,462,780
93$8,090,675$0$0$7,029,724
94$8,805,488$0$0$7,651,589
95$9,589,733$0$0$8,333,887
96$10,450,383$0$0$9,082,687
97$11,395,118$0$0$9,904,675
98$12,432,398$0$0$10,807,216
99$13,571,542$0$0$11,798,423
100$14,822,817$0$0$12,887,232