Can I retire at age 61 with 794,000?

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 $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%12.6%
1 years$65,568$64,984$64,414$63,858$63,315$62,627
2 years$32,459$31,855$31,269$30,701$30,150$29,458
3 years$21,425$20,817$20,233$19,670$19,128$18,453
4 years$15,908$15,303$14,724$14,171$13,642$12,989
5 years$12,599$11,998$11,427$10,885$10,371$9,741
6 years$10,394$9,797$9,235$8,705$8,206$7,601
7 years$8,820$8,228$7,674$7,157$6,674$6,094
8 years$7,639$7,053$6,508$6,004$5,536$4,981
9 years$6,722$6,141$5,605$5,114$4,663$4,132
10 years$5,988$5,413$4,887$4,408$3,973$3,467
11 years$5,388$4,818$4,302$3,836$3,417$2,934
12 years$4,889$4,325$3,818$3,365$2,961$2,502
13 years$4,466$3,908$3,411$2,971$2,582$2,146
14 years$4,105$3,553$3,065$2,637$2,263$1,849
15 years$3,791$3,245$2,767$2,352$1,993$1,601
16 years$3,518$2,978$2,509$2,106$1,761$1,390
17 years$3,276$2,742$2,283$1,892$1,562$1,210
18 years$3,062$2,534$2,084$1,705$1,389$1,057
19 years$2,871$2,348$1,908$1,541$1,238$925
20 years$2,699$2,182$1,751$1,395$1,105$811
21 years$2,543$2,033$1,611$1,266$989$712
22 years$2,402$1,897$1,484$1,151$887$626
23 years$2,273$1,775$1,371$1,049$796$551
24 years$2,155$1,663$1,268$956$715$485
25 years$2,047$1,560$1,174$873$644$428
26 years$1,947$1,467$1,089$799$580$378
27 years$1,855$1,380$1,011$731$523$334
28 years$1,770$1,301$940$670$472$295
29 years$1,690$1,227$875$614$426$261
30 years$1,616$1,159$815$564$385$231
31 years$1,547$1,095$760$518$348$204
32 years$1,483$1,036$709$476$315$181
33 years$1,422$981$662$438$285$160
34 years$1,365$930$618$403$258$142
35 years$1,312$882$578$371$234$126
36 years$1,261$837$541$341$212$112
37 years$1,213$795$506$314$192$99
38 years$1,168$756$474$290$174$88
39 years$1,126$719$444$267$158$78
40 years$1,086$684$416$247$143$69
41 years$1,047$651$390$227$130$61
42 years$1,011$620$366$210$118$54
43 years$976$591$344$194$107$48
44 years$943$563$322$179$97$43
45 years$912$537$303$165$88$38
46 years$882$512$284$153$80$34
47 years$854$489$267$141$73$30
48 years$826$467$251$130$66$27
49 years$800$446$236$120$60$24
50 years$775$426$222$111$54$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $794,000, adding $3,832 every year, while hoping to spend $48,404 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: 64/6/30 Blend
60$794,000$794,000$794,000$794,000
61$878,941$836,859$824,552$927,914
62$917,091$826,363$800,673$951,097
63$957,511$813,731$774,371$970,781
64$1,000,380$798,807$745,516$991,261
65$1,045,895$781,425$713,967$1,012,621
66$1,094,273$761,411$679,581$1,034,959
67$1,145,748$738,580$642,207$1,058,383
68$1,200,580$712,736$601,686$1,083,013
69$1,259,050$683,671$557,854$1,108,984
70$1,321,468$651,166$510,537$1,136,448
71$1,388,175$614,990$459,557$1,165,574
72$1,459,540$574,896$404,724$1,196,550
73$1,535,973$530,626$345,841$1,229,586
74$1,617,920$481,904$282,705$1,264,918
75$1,705,871$428,441$215,099$1,302,807
76$1,800,366$369,931$142,801$1,343,544
77$1,901,995$306,049$65,577$1,387,453
78$2,011,407$236,454$0$1,434,894
79$2,129,314$160,784$0$1,491,658
80$2,256,499$78,657$0$1,575,553
81$2,393,822$0$0$1,666,146
82$2,542,228$0$0$1,764,759
83$2,702,754$0$0$1,877,086
84$2,876,542$0$0$1,998,738
85$3,064,847$0$0$2,130,600
86$3,269,049$0$0$2,273,643
87$3,490,664$0$0$2,428,937
88$3,731,361$0$0$2,597,658
89$3,992,975$0$0$2,781,099
90$4,277,527$0$0$2,980,682
91$4,587,236$0$0$3,197,975
92$4,924,548$0$0$3,434,699
93$5,292,153$0$0$3,692,751
94$5,693,010$0$0$3,974,217
95$6,130,378$0$0$4,281,394
96$6,607,843$0$0$4,616,810
97$7,129,352$0$0$4,983,247
98$7,699,252$0$0$5,383,771
99$8,322,327$0$0$5,821,753
100$9,003,845$0$0$6,300,907