Can I retire at age 61 with 794,000?

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 $794,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$65,568$64,984$64,414$63,858$63,315$62,942
2 years$32,459$31,855$31,269$30,701$30,150$29,774
3 years$21,425$20,817$20,233$19,670$19,128$18,761
4 years$15,908$15,303$14,724$14,171$13,642$13,286
5 years$12,599$11,998$11,427$10,885$10,371$10,027
6 years$10,394$9,797$9,235$8,705$8,206$7,874
7 years$8,820$8,228$7,674$7,157$6,674$6,355
8 years$7,639$7,053$6,508$6,004$5,536$5,231
9 years$6,722$6,141$5,605$5,114$4,663$4,369
10 years$5,988$5,413$4,887$4,408$3,973$3,692
11 years$5,388$4,818$4,302$3,836$3,417$3,149
12 years$4,889$4,325$3,818$3,365$2,961$2,705
13 years$4,466$3,908$3,411$2,971$2,582$2,338
14 years$4,105$3,553$3,065$2,637$2,263$2,031
15 years$3,791$3,245$2,767$2,352$1,993$1,772
16 years$3,518$2,978$2,509$2,106$1,761$1,551
17 years$3,276$2,742$2,283$1,892$1,562$1,362
18 years$3,062$2,534$2,084$1,705$1,389$1,200
19 years$2,871$2,348$1,908$1,541$1,238$1,059
20 years$2,699$2,182$1,751$1,395$1,105$936
21 years$2,543$2,033$1,611$1,266$989$829
22 years$2,402$1,897$1,484$1,151$887$736
23 years$2,273$1,775$1,371$1,049$796$654
24 years$2,155$1,663$1,268$956$715$581
25 years$2,047$1,560$1,174$873$644$518
26 years$1,947$1,467$1,089$799$580$461
27 years$1,855$1,380$1,011$731$523$411
28 years$1,770$1,301$940$670$472$367
29 years$1,690$1,227$875$614$426$328
30 years$1,616$1,159$815$564$385$293
31 years$1,547$1,095$760$518$348$262
32 years$1,483$1,036$709$476$315$234
33 years$1,422$981$662$438$285$209
34 years$1,365$930$618$403$258$187
35 years$1,312$882$578$371$234$168
36 years$1,261$837$541$341$212$150
37 years$1,213$795$506$314$192$135
38 years$1,168$756$474$290$174$121
39 years$1,126$719$444$267$158$108
40 years$1,086$684$416$247$143$97
41 years$1,047$651$390$227$130$87
42 years$1,011$620$366$210$118$78
43 years$976$591$344$194$107$70
44 years$943$563$322$179$97$63
45 years$912$537$303$165$88$56
46 years$882$512$284$153$80$50
47 years$854$489$267$141$73$45
48 years$826$467$251$130$66$41
49 years$800$446$236$120$60$36
50 years$775$426$222$111$54$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $794,000, adding $6,571 every year, while hoping to spend $38,783 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: 30/47/23 Blend
60$794,000$794,000$794,000$794,000
61$881,766$839,684$827,377$901,757
62$930,441$839,564$813,829$917,516
63$982,782$838,138$798,528$930,559
64$1,039,120$835,301$781,373$943,791
65$1,099,822$830,942$762,261$957,251
66$1,165,288$824,943$741,081$970,990
67$1,235,961$817,179$717,721$985,064
68$1,312,325$807,516$692,060$999,539
69$1,394,912$795,815$663,974$1,014,493
70$1,484,308$781,924$633,332$1,030,014
71$1,581,156$765,688$599,998$1,046,206
72$1,686,165$746,937$563,828$1,063,184
73$1,800,112$725,495$524,675$1,081,085
74$1,923,853$701,174$482,381$1,100,062
75$2,058,330$673,775$436,785$1,120,289
76$2,204,578$643,089$387,716$1,141,965
77$2,363,737$608,892$334,996$1,165,314
78$2,537,060$570,950$278,441$1,190,592
79$2,725,928$529,014$217,856$1,218,085
80$2,931,857$482,821$153,039$1,248,118
81$3,156,520$432,092$83,779$1,281,057
82$3,401,755$376,535$9,855$1,317,312
83$3,669,587$315,838$0$1,357,345
84$3,962,245$249,674$0$1,418,616
85$4,282,182$177,696$0$1,488,447
86$4,632,101$99,539$0$1,565,128
87$5,014,974$14,816$0$1,649,452
88$5,434,079$0$0$1,742,301
89$5,893,021$0$0$1,884,416
90$6,395,771$0$0$2,048,615
91$6,946,705$0$0$2,228,680
92$7,550,639$0$0$2,426,202
93$8,212,878$0$0$2,642,932
94$8,939,266$0$0$2,880,800
95$9,736,239$0$0$3,141,932
96$10,610,885$0$0$3,428,669
97$11,571,015$0$0$3,743,590
98$12,625,229$0$0$4,089,537
99$13,783,003$0$0$4,469,639
100$15,054,775$0$0$4,887,346