Can I retire at age 61 with 824,000?

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 $824,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$68,045$67,439$66,848$66,271$65,707$64,433
2 years$33,686$33,058$32,450$31,861$31,289$30,011
3 years$22,234$21,604$20,998$20,414$19,851$18,608
4 years$16,509$15,881$15,281$14,707$14,158$12,960
5 years$13,075$12,451$11,859$11,296$10,763$9,613
6 years$10,787$10,167$9,583$9,034$8,516$7,417
7 years$9,153$8,538$7,964$7,427$6,926$5,876
8 years$7,928$7,319$6,754$6,230$5,746$4,746
9 years$6,976$6,373$5,817$5,307$4,839$3,888
10 years$6,214$5,617$5,072$4,575$4,123$3,220
11 years$5,592$5,001$4,465$3,981$3,546$2,690
12 years$5,073$4,488$3,963$3,492$3,073$2,263
13 years$4,635$4,056$3,540$3,083$2,679$1,914
14 years$4,260$3,687$3,181$2,737$2,349$1,627
15 years$3,935$3,368$2,872$2,441$2,068$1,388
16 years$3,651$3,090$2,604$2,185$1,828$1,188
17 years$3,400$2,846$2,369$1,964$1,621$1,019
18 years$3,178$2,630$2,163$1,770$1,441$876
19 years$2,979$2,437$1,980$1,599$1,284$755
20 years$2,801$2,265$1,817$1,448$1,147$652
21 years$2,639$2,110$1,671$1,314$1,027$563
22 years$2,493$1,969$1,541$1,195$920$487
23 years$2,359$1,842$1,422$1,088$826$422
24 years$2,237$1,726$1,315$993$742$366
25 years$2,124$1,619$1,218$906$668$317
26 years$2,021$1,522$1,130$829$602$276
27 years$1,925$1,432$1,049$759$543$239
28 years$1,837$1,350$975$695$490$208
29 years$1,754$1,273$908$637$442$181
30 years$1,677$1,202$846$585$399$157
31 years$1,606$1,137$788$537$361$137
32 years$1,539$1,076$735$494$327$119
33 years$1,476$1,019$687$454$296$104
34 years$1,417$965$642$418$268$90
35 years$1,361$916$600$385$242$79
36 years$1,309$869$561$354$220$68
37 years$1,259$825$525$326$199$60
38 years$1,213$784$492$301$180$52
39 years$1,168$746$461$277$164$45
40 years$1,127$710$432$256$148$39
41 years$1,087$676$405$236$135$34
42 years$1,049$643$380$218$122$30
43 years$1,013$613$357$201$111$26
44 years$979$584$335$186$101$23
45 years$946$557$314$171$91$20
46 years$915$532$295$158$83$17
47 years$886$507$277$146$75$15
48 years$857$484$261$135$68$13
49 years$830$462$245$125$62$11
50 years$805$442$230$116$56$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $824,000, adding $5,212 every year, while hoping to spend $46,334 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: 71/17/12 Blend
60$824,000$824,000$824,000$824,000
61$913,424$869,752$856,980$975,611
62$957,294$863,071$836,390$1,010,826
63$1,004,087$854,510$813,557$1,043,210
64$1,054,050$843,927$788,358$1,077,426
65$1,107,457$831,173$760,661$1,113,643
66$1,164,607$816,090$730,333$1,152,052
67$1,225,828$798,510$697,231$1,192,861
68$1,291,481$778,255$661,206$1,236,303
69$1,361,959$755,137$622,104$1,282,634
70$1,437,698$728,957$579,763$1,332,136
71$1,519,171$699,504$534,013$1,385,125
72$1,606,901$666,555$484,678$1,441,947
73$1,701,462$629,874$431,572$1,502,985
74$1,803,485$589,211$374,502$1,568,666
75$1,913,660$544,302$313,268$1,639,457
76$2,032,750$494,869$247,659$1,715,880
77$2,161,589$440,616$177,454$1,798,508
78$2,301,097$381,232$102,425$1,887,976
79$2,452,284$316,388$22,331$1,984,987
80$2,616,261$245,735$0$2,090,318
81$2,794,250$168,906$0$2,212,910
82$2,987,594$85,514$0$2,349,205
83$3,197,772$0$0$2,497,424
84$3,426,410$0$0$2,659,670
85$3,675,296$0$0$2,853,735
86$3,946,400$0$0$3,065,162
87$4,241,887$0$0$3,295,646
88$4,564,142$0$0$3,547,051
89$4,915,788$0$0$3,821,430
90$5,299,715$0$0$4,121,041
91$5,719,102$0$0$4,448,373
92$6,177,449$0$0$4,806,162
93$6,678,610$0$0$5,197,423
94$7,226,828$0$0$5,625,476
95$7,826,774$0$0$6,093,974
96$8,483,593$0$0$6,606,943
97$9,202,950$0$0$7,168,812
98$9,991,084$0$0$7,784,463
99$10,854,864$0$0$8,459,271
100$11,801,858$0$0$9,199,153