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%15.8%
1 years$68,045$67,439$66,848$66,271$65,707$64,145
2 years$33,686$33,058$32,450$31,861$31,289$29,724
3 years$22,234$21,604$20,998$20,414$19,851$18,332
4 years$16,509$15,881$15,281$14,707$14,158$12,697
5 years$13,075$12,451$11,859$11,296$10,763$9,364
6 years$10,787$10,167$9,583$9,034$8,516$7,181
7 years$9,153$8,538$7,964$7,427$6,926$5,655
8 years$7,928$7,319$6,754$6,230$5,746$4,538
9 years$6,976$6,373$5,817$5,307$4,839$3,693
10 years$6,214$5,617$5,072$4,575$4,123$3,038
11 years$5,592$5,001$4,465$3,981$3,546$2,520
12 years$5,073$4,488$3,963$3,492$3,073$2,105
13 years$4,635$4,056$3,540$3,083$2,679$1,768
14 years$4,260$3,687$3,181$2,737$2,349$1,491
15 years$3,935$3,368$2,872$2,441$2,068$1,262
16 years$3,651$3,090$2,604$2,185$1,828$1,072
17 years$3,400$2,846$2,369$1,964$1,621$912
18 years$3,178$2,630$2,163$1,770$1,441$778
19 years$2,979$2,437$1,980$1,599$1,284$665
20 years$2,801$2,265$1,817$1,448$1,147$569
21 years$2,639$2,110$1,671$1,314$1,027$488
22 years$2,493$1,969$1,541$1,195$920$419
23 years$2,359$1,842$1,422$1,088$826$359
24 years$2,237$1,726$1,315$993$742$309
25 years$2,124$1,619$1,218$906$668$266
26 years$2,021$1,522$1,130$829$602$229
27 years$1,925$1,432$1,049$759$543$197
28 years$1,837$1,350$975$695$490$170
29 years$1,754$1,273$908$637$442$146
30 years$1,677$1,202$846$585$399$126
31 years$1,606$1,137$788$537$361$109
32 years$1,539$1,076$735$494$327$94
33 years$1,476$1,019$687$454$296$81
34 years$1,417$965$642$418$268$70
35 years$1,361$916$600$385$242$60
36 years$1,309$869$561$354$220$52
37 years$1,259$825$525$326$199$45
38 years$1,213$784$492$301$180$39
39 years$1,168$746$461$277$164$33
40 years$1,127$710$432$256$148$29
41 years$1,087$676$405$236$135$25
42 years$1,049$643$380$218$122$21
43 years$1,013$613$357$201$111$18
44 years$979$584$335$186$101$16
45 years$946$557$314$171$91$14
46 years$915$532$295$158$83$12
47 years$886$507$277$146$75$10
48 years$857$484$261$135$68$9
49 years$830$462$245$125$62$8
50 years$805$442$230$116$56$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $824,000, adding $3,583 every year, while hoping to spend $48,706 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: 49/40/11 Blend
60$824,000$824,000$824,000$824,000
61$911,744$868,072$855,300$953,530
62$952,919$858,785$832,130$973,301
63$996,661$847,410$806,551$989,360
64$1,043,182$833,794$778,431$1,005,693
65$1,092,710$817,774$747,633$1,022,341
66$1,145,499$799,177$714,011$1,039,352
67$1,201,825$777,821$677,415$1,056,781
68$1,261,989$753,513$637,686$1,074,691
69$1,326,324$726,047$594,661$1,093,159
70$1,395,193$695,207$548,165$1,112,269
71$1,468,994$660,763$498,020$1,132,120
72$1,548,165$622,474$444,038$1,152,826
73$1,633,185$580,083$386,021$1,174,515
74$1,724,581$533,319$323,764$1,197,336
75$1,822,932$481,894$257,053$1,221,455
76$1,928,871$425,507$185,664$1,247,063
77$2,043,095$363,837$109,364$1,274,375
78$2,166,372$296,545$27,908$1,303,637
79$2,299,541$223,276$0$1,335,123
80$2,443,528$143,650$0$1,376,071
81$2,599,348$57,269$0$1,423,850
82$2,768,120$0$0$1,475,609
83$2,951,071$0$0$1,547,794
84$3,149,552$0$0$1,653,530
85$3,365,048$0$0$1,768,408
86$3,599,194$0$0$1,893,309
87$3,853,786$0$0$2,029,203
88$4,130,801$0$0$2,177,156
89$4,432,417$0$0$2,338,340
90$4,761,025$0$0$2,514,047
91$5,119,262$0$0$2,705,698
92$5,510,026$0$0$2,914,857
93$5,936,509$0$0$3,143,245
94$6,402,223$0$0$3,392,757
95$6,911,036$0$0$3,665,480
96$7,467,206$0$0$3,963,711
97$8,075,419$0$0$4,289,978
98$8,740,836$0$0$4,647,067
99$9,469,141$0$0$5,038,043
100$10,266,589$0$0$5,466,284