Can I retire at age 61 with 832,000?

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 $832,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$68,706$68,094$67,497$66,914$66,345$64,428
2 years$34,013$33,379$32,765$32,170$31,593$29,676
3 years$22,450$21,814$21,201$20,612$20,044$18,188
4 years$16,670$16,035$15,429$14,850$14,295$12,515
5 years$13,202$12,572$11,974$11,406$10,867$9,167
6 years$10,892$10,266$9,677$9,121$8,599$6,980
7 years$9,242$8,621$8,041$7,499$6,993$5,456
8 years$8,005$7,390$6,820$6,291$5,801$4,345
9 years$7,043$6,434$5,874$5,358$4,886$3,509
10 years$6,275$5,672$5,121$4,619$4,163$2,863
11 years$5,646$5,049$4,508$4,020$3,580$2,356
12 years$5,123$4,532$4,001$3,526$3,103$1,951
13 years$4,680$4,095$3,575$3,113$2,705$1,624
14 years$4,301$3,723$3,212$2,763$2,372$1,357
15 years$3,973$3,401$2,900$2,464$2,088$1,139
16 years$3,686$3,120$2,629$2,207$1,845$958
17 years$3,433$2,873$2,392$1,983$1,636$808
18 years$3,209$2,655$2,184$1,787$1,455$683
19 years$3,008$2,461$1,999$1,614$1,297$578
20 years$2,828$2,287$1,835$1,462$1,158$490
21 years$2,665$2,130$1,688$1,327$1,037$415
22 years$2,517$1,988$1,555$1,207$929$353
23 years$2,382$1,860$1,436$1,099$834$300
24 years$2,258$1,742$1,328$1,002$750$255
25 years$2,145$1,635$1,230$915$675$217
26 years$2,041$1,537$1,141$837$608$185
27 years$1,944$1,446$1,060$766$548$157
28 years$1,854$1,363$985$702$494$134
29 years$1,771$1,286$917$644$446$114
30 years$1,694$1,214$854$591$403$98
31 years$1,621$1,148$796$542$365$83
32 years$1,553$1,086$743$499$330$71
33 years$1,490$1,028$693$458$299$61
34 years$1,430$975$648$422$270$52
35 years$1,374$925$606$388$245$44
36 years$1,321$878$567$358$222$38
37 years$1,272$833$530$330$201$32
38 years$1,224$792$497$304$182$27
39 years$1,180$753$465$280$165$23
40 years$1,137$717$436$258$150$20
41 years$1,097$682$409$238$136$17
42 years$1,059$650$384$220$123$15
43 years$1,023$619$360$203$112$12
44 years$989$590$338$187$102$11
45 years$956$563$317$173$92$9
46 years$924$537$298$160$84$8
47 years$894$512$280$148$76$7
48 years$866$489$263$137$69$6
49 years$838$467$247$126$63$5
50 years$812$446$232$117$57$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $832,000, adding $2,004 every year, while hoping to spend $56,372 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: 56/36/8 Blend
60$832,000$832,000$832,000$832,000
61$918,931$874,835$861,939$968,569
62$952,683$857,723$830,835$985,168
63$987,988$837,882$796,799$996,795
64$1,024,945$815,121$759,674$1,008,088
65$1,063,661$789,234$719,295$1,019,022
66$1,104,253$760,005$675,490$1,029,573
67$1,146,847$727,205$628,079$1,039,717
68$1,191,579$690,592$576,873$1,049,433
69$1,238,597$649,908$521,676$1,058,698
70$1,288,065$604,884$462,282$1,067,493
71$1,340,156$555,232$398,478$1,075,801
72$1,395,063$500,650$330,038$1,083,608
73$1,452,994$440,816$256,729$1,090,901
74$1,514,177$375,393$178,306$1,097,674
75$1,578,859$304,024$94,516$1,103,923
76$1,647,311$226,329$5,090$1,109,651
77$1,719,829$141,911$0$1,114,867
78$1,796,734$50,348$0$1,127,298
79$1,878,381$0$0$1,140,224
80$1,965,155$0$0$1,172,603
81$2,057,478$0$0$1,228,313
82$2,155,813$0$0$1,287,693
83$2,260,664$0$0$1,351,053
84$2,372,586$0$0$1,418,735
85$2,492,186$0$0$1,491,112
86$2,620,129$0$0$1,568,592
87$2,757,146$0$0$1,651,625
88$2,904,036$0$0$1,740,703
89$3,061,677$0$0$1,836,366
90$3,231,032$0$0$1,939,208
91$3,413,160$0$0$2,049,878
92$3,609,220$0$0$2,169,092
93$3,820,487$0$0$2,297,635
94$4,048,362$0$0$2,436,370
95$4,294,384$0$0$2,586,243
96$4,560,241$0$0$2,748,296
97$4,847,793$0$0$2,923,673
98$5,159,081$0$0$3,113,634
99$5,496,350$0$0$3,319,560
100$5,862,069$0$0$3,542,973