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%12.9%
1 years$68,045$67,439$66,848$66,271$65,707$64,913
2 years$33,686$33,058$32,450$31,861$31,289$30,490
3 years$22,234$21,604$20,998$20,414$19,851$19,072
4 years$16,509$15,881$15,281$14,707$14,158$13,404
5 years$13,075$12,451$11,859$11,296$10,763$10,037
6 years$10,787$10,167$9,583$9,034$8,516$7,819
7 years$9,153$8,538$7,964$7,427$6,926$6,258
8 years$7,928$7,319$6,754$6,230$5,746$5,107
9 years$6,976$6,373$5,817$5,307$4,839$4,229
10 years$6,214$5,617$5,072$4,575$4,123$3,541
11 years$5,592$5,001$4,465$3,981$3,546$2,992
12 years$5,073$4,488$3,963$3,492$3,073$2,546
13 years$4,635$4,056$3,540$3,083$2,679$2,180
14 years$4,260$3,687$3,181$2,737$2,349$1,875
15 years$3,935$3,368$2,872$2,441$2,068$1,619
16 years$3,651$3,090$2,604$2,185$1,828$1,403
17 years$3,400$2,846$2,369$1,964$1,621$1,219
18 years$3,178$2,630$2,163$1,770$1,441$1,062
19 years$2,979$2,437$1,980$1,599$1,284$928
20 years$2,801$2,265$1,817$1,448$1,147$811
21 years$2,639$2,110$1,671$1,314$1,027$711
22 years$2,493$1,969$1,541$1,195$920$624
23 years$2,359$1,842$1,422$1,088$826$548
24 years$2,237$1,726$1,315$993$742$481
25 years$2,124$1,619$1,218$906$668$424
26 years$2,021$1,522$1,130$829$602$373
27 years$1,925$1,432$1,049$759$543$329
28 years$1,837$1,350$975$695$490$290
29 years$1,754$1,273$908$637$442$256
30 years$1,677$1,202$846$585$399$226
31 years$1,606$1,137$788$537$361$199
32 years$1,539$1,076$735$494$327$176
33 years$1,476$1,019$687$454$296$156
34 years$1,417$965$642$418$268$138
35 years$1,361$916$600$385$242$122
36 years$1,309$869$561$354$220$108
37 years$1,259$825$525$326$199$95
38 years$1,213$784$492$301$180$84
39 years$1,168$746$461$277$164$74
40 years$1,127$710$432$256$148$66
41 years$1,087$676$405$236$135$58
42 years$1,049$643$380$218$122$52
43 years$1,013$613$357$201$111$46
44 years$979$584$335$186$101$40
45 years$946$557$314$171$91$36
46 years$915$532$295$158$83$32
47 years$886$507$277$146$75$28
48 years$857$484$261$135$68$25
49 years$830$462$245$125$62$22
50 years$805$442$230$116$56$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $824,000, adding $2,173 every year, while hoping to spend $57,866 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: 60/19/21 Blend
60$824,000$824,000$824,000$824,000
61$910,289$866,617$853,845$959,749
62$941,570$847,513$820,880$974,418
63$974,102$825,532$784,871$983,882
64$1,007,951$800,475$745,656$992,913
65$1,043,190$772,125$703,063$1,001,479
66$1,079,894$740,259$656,914$1,009,545
67$1,118,147$704,635$607,024$1,017,080
68$1,158,036$665,001$553,198$1,024,049
69$1,199,659$621,088$495,233$1,030,418
70$1,243,117$572,614$432,916$1,036,154
71$1,288,522$519,280$366,027$1,041,221
72$1,335,995$460,768$294,332$1,045,586
73$1,385,665$396,745$217,591$1,049,218
74$1,437,674$326,856$135,551$1,052,082
75$1,492,174$250,729$47,949$1,054,150
76$1,549,331$167,969$0$1,055,393
77$1,609,323$78,161$0$1,065,987
78$1,672,346$0$0$1,087,835
79$1,738,612$0$0$1,114,229
80$1,808,352$0$0$1,159,228
81$1,881,816$0$0$1,206,654
82$1,959,276$0$0$1,256,686
83$2,041,032$0$0$1,309,521
84$2,127,406$0$0$1,365,372
85$2,218,754$0$0$1,424,471
86$2,315,462$0$0$1,487,073
87$2,417,951$0$0$1,553,455
88$2,526,682$0$0$1,623,922
89$2,642,161$0$0$1,698,805
90$2,764,937$0$0$1,778,467
91$2,895,615$0$0$1,863,305
92$3,034,855$0$0$1,953,755
93$3,183,380$0$0$2,050,294
94$3,341,982$0$0$2,153,443
95$3,511,529$0$0$2,263,774
96$3,692,972$0$0$2,381,916
97$3,887,356$0$0$2,508,557
98$4,095,825$0$0$2,644,451
99$4,319,634$0$0$2,790,427
100$4,560,162$0$0$2,947,393