Can I retire at age 61 with 842,000?

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 $842,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$69,532$68,912$68,308$67,718$67,142$66,221
2 years$34,422$33,781$33,159$32,557$31,973$31,046
3 years$22,720$22,076$21,456$20,859$20,285$19,382
4 years$16,870$16,228$15,615$15,028$14,467$13,595
5 years$13,361$12,723$12,118$11,543$10,998$10,158
6 years$11,023$10,389$9,793$9,231$8,702$7,897
7 years$9,353$8,725$8,138$7,589$7,077$6,306
8 years$8,101$7,479$6,902$6,367$5,871$5,134
9 years$7,128$6,512$5,944$5,423$4,944$4,241
10 years$6,350$5,740$5,182$4,675$4,213$3,543
11 years$5,714$5,110$4,562$4,068$3,623$2,986
12 years$5,184$4,586$4,049$3,568$3,140$2,535
13 years$4,736$4,145$3,618$3,150$2,738$2,164
14 years$4,353$3,767$3,250$2,797$2,400$1,857
15 years$4,021$3,442$2,935$2,494$2,113$1,599
16 years$3,730$3,158$2,661$2,233$1,868$1,382
17 years$3,474$2,908$2,421$2,006$1,656$1,198
18 years$3,247$2,687$2,210$1,808$1,472$1,040
19 years$3,044$2,490$2,023$1,634$1,312$906
20 years$2,862$2,314$1,857$1,480$1,172$790
21 years$2,697$2,156$1,708$1,343$1,049$690
22 years$2,547$2,012$1,574$1,221$940$603
23 years$2,411$1,882$1,453$1,112$844$528
24 years$2,286$1,763$1,344$1,014$759$463
25 years$2,171$1,655$1,245$926$683$406
26 years$2,065$1,555$1,155$847$615$357
27 years$1,967$1,464$1,072$775$554$313
28 years$1,877$1,379$997$710$500$275
29 years$1,792$1,301$928$651$452$242
30 years$1,714$1,229$864$598$408$213
31 years$1,641$1,162$806$549$369$187
32 years$1,572$1,099$752$505$334$165
33 years$1,508$1,041$702$464$302$145
34 years$1,448$986$656$427$274$128
35 years$1,391$936$613$393$248$113
36 years$1,337$888$573$362$224$99
37 years$1,287$843$537$333$203$88
38 years$1,239$802$503$307$184$77
39 years$1,194$762$471$283$167$68
40 years$1,151$725$441$261$152$60
41 years$1,111$690$414$241$138$53
42 years$1,072$657$388$223$125$47
43 years$1,035$626$364$205$113$41
44 years$1,000$597$342$190$103$36
45 years$967$569$321$175$93$32
46 years$935$543$302$162$85$28
47 years$905$518$283$150$77$25
48 years$876$495$266$138$70$22
49 years$849$473$250$128$64$19
50 years$822$451$235$118$58$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $842,000, adding $6,257 every year, while hoping to spend $52,790 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: 34/39/27 Blend
60$842,000$842,000$842,000$842,000
61$934,338$889,712$876,661$958,290
62$973,472$877,140$849,861$964,266
63$1,014,829$862,182$820,394$965,531
64$1,058,579$844,667$788,115$965,865
65$1,104,909$824,410$752,872$965,220
66$1,154,023$801,220$714,506$963,551
67$1,206,144$774,890$672,852$960,810
68$1,261,515$745,203$627,737$956,952
69$1,320,402$711,931$578,979$951,933
70$1,383,098$674,831$526,389$945,709
71$1,449,921$633,644$469,771$938,239
72$1,521,221$588,101$408,916$929,488
73$1,597,381$537,914$343,610$919,420
74$1,678,821$482,778$273,628$908,005
75$1,766,000$422,374$198,734$895,220
76$1,859,424$356,363$118,684$881,047
77$1,959,646$284,385$33,221$865,475
78$2,067,274$206,063$0$848,502
79$2,182,973$120,998$0$846,842
80$2,307,476$28,766$0$855,110
81$2,441,586$0$0$863,843
82$2,586,186$0$0$903,682
83$2,742,245$0$0$960,097
84$2,910,828$0$0$1,021,140
85$3,093,107$0$0$1,087,247
86$3,290,367$0$0$1,158,899
87$3,504,024$0$0$1,236,623
88$3,735,631$0$0$1,320,999
89$3,986,900$0$0$1,412,667
90$4,259,711$0$0$1,512,327
91$4,556,132$0$0$1,620,754
92$4,878,439$0$0$1,738,796
93$5,229,134$0$0$1,867,390
94$5,610,974$0$0$2,007,563
95$6,026,987$0$0$2,160,451
96$6,480,511$0$0$2,327,298
97$6,975,215$0$0$2,509,478
98$7,515,140$0$0$2,708,501
99$8,104,734$0$0$2,926,031
100$8,748,892$0$0$3,163,899