Can I retire at age 61 with 840,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$69,366$68,749$68,146$67,557$66,983$66,366
2 years$34,340$33,700$33,080$32,479$31,897$31,275
3 years$22,666$22,023$21,405$20,810$20,236$19,630
4 years$16,830$16,190$15,578$14,992$14,433$13,845
5 years$13,329$12,693$12,089$11,516$10,972$10,405
6 years$10,996$10,365$9,770$9,209$8,681$8,137
7 years$9,331$8,704$8,119$7,571$7,060$6,538
8 years$8,082$7,461$6,885$6,351$5,857$5,357
9 years$7,111$6,496$5,930$5,410$4,933$4,454
10 years$6,335$5,726$5,170$4,663$4,203$3,745
11 years$5,700$5,098$4,552$4,059$3,615$3,178
12 years$5,172$4,575$4,039$3,560$3,132$2,717
13 years$4,725$4,135$3,609$3,143$2,731$2,336
14 years$4,342$3,758$3,243$2,790$2,394$2,019
15 years$4,011$3,433$2,928$2,488$2,108$1,752
16 years$3,722$3,150$2,654$2,228$1,863$1,525
17 years$3,466$2,901$2,415$2,002$1,652$1,332
18 years$3,240$2,681$2,205$1,804$1,469$1,167
19 years$3,037$2,484$2,019$1,630$1,309$1,024
20 years$2,855$2,309$1,853$1,476$1,169$900
21 years$2,690$2,150$1,704$1,340$1,047$793
22 years$2,541$2,007$1,570$1,218$938$699
23 years$2,405$1,877$1,450$1,109$842$617
24 years$2,280$1,759$1,341$1,012$757$545
25 years$2,166$1,651$1,242$924$681$483
26 years$2,060$1,551$1,152$845$613$427
27 years$1,963$1,460$1,070$773$553$379
28 years$1,872$1,376$994$709$499$336
29 years$1,788$1,298$925$650$451$298
30 years$1,710$1,226$862$596$407$265
31 years$1,637$1,159$804$548$368$235
32 years$1,568$1,096$750$503$333$209
33 years$1,504$1,038$700$463$301$186
34 years$1,444$984$654$426$273$165
35 years$1,387$933$612$392$247$147
36 years$1,334$886$572$361$224$130
37 years$1,284$841$535$333$203$116
38 years$1,236$800$501$307$184$103
39 years$1,191$760$470$283$167$92
40 years$1,148$723$440$261$151$82
41 years$1,108$689$413$241$137$73
42 years$1,069$656$387$222$125$65
43 years$1,033$625$363$205$113$58
44 years$998$596$341$189$103$51
45 years$965$568$320$175$93$46
46 years$933$542$301$161$85$41
47 years$903$517$283$149$77$36
48 years$874$494$266$138$70$32
49 years$847$471$250$127$63$29
50 years$820$450$235$118$58$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $840,000, adding $3,489 every year, while hoping to spend $50,335 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: 31/41/28 Blend
60$840,000$840,000$840,000$840,000
61$929,279$884,759$871,739$950,030
62$970,509$874,556$847,386$956,172
63$1,014,258$862,166$820,530$958,120
64$1,060,729$847,429$791,035$959,228
65$1,110,145$830,175$758,757$959,458
66$1,162,751$810,224$723,545$958,771
67$1,218,812$787,385$685,244$957,134
68$1,278,621$761,458$643,691$954,510
69$1,342,499$732,227$598,713$950,869
70$1,410,796$699,469$550,132$946,181
71$1,483,897$662,943$497,761$940,422
72$1,562,225$622,397$441,407$933,570
73$1,646,241$577,565$380,863$925,610
74$1,736,455$528,162$315,919$916,532
75$1,833,422$473,891$246,351$906,335
76$1,937,756$414,436$171,928$895,024
77$2,050,127$349,463$92,408$882,616
78$2,171,273$278,621$7,537$869,137
79$2,302,006$201,536$0$854,630
80$2,443,215$117,816$0$863,956
81$2,595,880$27,045$0$876,396
82$2,761,074$0$0$889,875
83$2,939,982$0$0$936,727
84$3,133,903$0$0$1,000,844
85$3,344,266$0$0$1,070,510
86$3,572,643$0$0$1,146,262
87$3,820,763$0$0$1,228,687
88$4,090,529$0$0$1,318,432
89$4,384,032$0$0$1,416,211
90$4,703,575$0$0$1,522,807
91$5,051,691$0$0$1,639,084
92$5,431,168$0$0$1,765,991
93$5,845,074$0$0$1,904,573
94$6,296,786$0$0$2,055,982
95$6,790,022$0$0$2,221,485
96$7,328,873$0$0$2,402,476
97$7,917,844$0$0$2,600,492
98$8,561,895$0$0$2,817,224
99$9,266,487$0$0$3,054,535
100$10,037,633$0$0$3,314,474