Can I retire at age 61 with 798,000?

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 $798,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$65,898$65,311$64,738$64,179$63,634$62,605
2 years$32,623$32,015$31,426$30,856$30,302$29,268
3 years$21,533$20,922$20,335$19,769$19,225$18,219
4 years$15,988$15,380$14,799$14,243$13,711$12,740
5 years$12,663$12,058$11,484$10,940$10,423$9,490
6 years$10,447$9,846$9,281$8,749$8,247$7,353
7 years$8,864$8,269$7,713$7,193$6,707$5,852
8 years$7,678$7,088$6,541$6,034$5,564$4,748
9 years$6,756$6,171$5,634$5,139$4,686$3,909
10 years$6,018$5,440$4,912$4,430$3,993$3,253
11 years$5,415$4,843$4,324$3,856$3,434$2,732
12 years$4,913$4,347$3,838$3,382$2,976$2,310
13 years$4,489$3,928$3,429$2,986$2,595$1,964
14 years$4,125$3,570$3,081$2,650$2,275$1,678
15 years$3,811$3,262$2,781$2,364$2,003$1,440
16 years$3,535$2,993$2,522$2,116$1,770$1,239
17 years$3,293$2,756$2,295$1,902$1,569$1,069
18 years$3,078$2,547$2,095$1,714$1,395$925
19 years$2,885$2,360$1,918$1,548$1,244$802
20 years$2,712$2,193$1,760$1,402$1,111$696
21 years$2,556$2,043$1,619$1,273$994$605
22 years$2,414$1,907$1,492$1,157$891$527
23 years$2,285$1,784$1,378$1,054$800$459
24 years$2,166$1,671$1,274$961$719$400
25 years$2,057$1,568$1,180$878$647$350
26 years$1,957$1,474$1,094$803$583$305
27 years$1,864$1,387$1,016$735$525$267
28 years$1,779$1,307$945$673$474$234
29 years$1,699$1,233$879$617$428$204
30 years$1,624$1,165$819$567$387$179
31 years$1,555$1,101$763$520$350$157
32 years$1,490$1,042$712$478$316$137
33 years$1,429$986$665$440$286$120
34 years$1,372$935$621$405$259$105
35 years$1,318$887$581$372$235$92
36 years$1,267$842$543$343$213$81
37 years$1,220$799$509$316$193$71
38 years$1,174$760$476$291$175$62
39 years$1,132$722$446$269$159$55
40 years$1,091$687$418$248$144$48
41 years$1,053$654$392$229$130$42
42 years$1,016$623$368$211$118$37
43 years$981$594$345$195$107$32
44 years$948$566$324$180$98$28
45 years$917$540$304$166$89$25
46 years$887$515$286$153$80$22
47 years$858$491$269$142$73$19
48 years$830$469$252$131$66$17
49 years$804$448$237$121$60$15
50 years$779$428$223$112$55$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $798,000, adding $5,896 every year, while hoping to spend $34,876 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: 34/40/26 Blend
60$798,000$798,000$798,000$798,000
61$885,478$843,184$830,815$908,436
62$938,689$847,392$821,539$930,367
63$996,158$850,637$810,784$950,445
64$1,058,284$852,836$798,463$971,410
65$1,125,503$853,899$784,485$993,364
66$1,198,295$853,731$768,757$1,016,422
67$1,277,189$852,232$751,178$1,040,712
68$1,362,765$849,294$731,645$1,066,380
69$1,455,662$844,804$710,050$1,093,589
70$1,556,582$838,642$686,279$1,122,520
71$1,666,298$830,680$660,214$1,153,378
72$1,785,659$820,782$631,730$1,186,391
73$1,915,602$808,806$600,698$1,221,814
74$2,057,154$794,599$566,983$1,259,933
75$2,211,449$777,999$530,442$1,301,068
76$2,379,733$758,837$490,928$1,345,572
77$2,563,377$736,932$448,285$1,393,843
78$2,763,892$712,091$402,353$1,446,324
79$2,982,939$684,114$352,962$1,503,506
80$3,222,348$652,785$299,936$1,565,939
81$3,484,135$617,879$243,091$1,634,232
82$3,770,516$579,155$182,234$1,709,065
83$4,083,936$536,360$117,166$1,791,192
84$4,427,081$489,226$47,675$1,881,453
85$4,802,916$437,470$0$1,980,780
86$5,214,699$380,792$0$2,097,554
87$5,666,024$318,877$0$2,240,171
88$6,160,847$251,389$0$2,396,731
89$6,703,523$177,977$0$2,568,719
90$7,298,851$98,267$0$2,757,775
91$7,952,118$11,866$0$2,965,713
92$8,669,144$0$0$3,194,542
93$9,456,343$0$0$3,482,413
94$10,320,779$0$0$3,804,388
95$11,270,235$0$0$4,158,158
96$12,313,282$0$0$4,546,933
97$13,459,364$0$0$4,974,249
98$14,718,886$0$0$5,444,003
99$16,103,309$0$0$5,960,486
100$17,625,261$0$0$6,528,428