Can I retire at age 61 with 842,000?

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 $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%14.7%
1 years$69,532$68,912$68,308$67,718$67,142$65,840
2 years$34,422$33,781$33,159$32,557$31,973$30,666
3 years$22,720$22,076$21,456$20,859$20,285$19,015
4 years$16,870$16,228$15,615$15,028$14,467$13,243
5 years$13,361$12,723$12,118$11,543$10,998$9,823
6 years$11,023$10,389$9,793$9,231$8,702$7,579
7 years$9,353$8,725$8,138$7,589$7,077$6,005
8 years$8,101$7,479$6,902$6,367$5,871$4,850
9 years$7,128$6,512$5,944$5,423$4,944$3,973
10 years$6,350$5,740$5,182$4,675$4,213$3,291
11 years$5,714$5,110$4,562$4,068$3,623$2,749
12 years$5,184$4,586$4,049$3,568$3,140$2,313
13 years$4,736$4,145$3,618$3,150$2,738$1,956
14 years$4,353$3,767$3,250$2,797$2,400$1,663
15 years$4,021$3,442$2,935$2,494$2,113$1,418
16 years$3,730$3,158$2,661$2,233$1,868$1,214
17 years$3,474$2,908$2,421$2,006$1,656$1,041
18 years$3,247$2,687$2,210$1,808$1,472$896
19 years$3,044$2,490$2,023$1,634$1,312$772
20 years$2,862$2,314$1,857$1,480$1,172$666
21 years$2,697$2,156$1,708$1,343$1,049$576
22 years$2,547$2,012$1,574$1,221$940$498
23 years$2,411$1,882$1,453$1,112$844$431
24 years$2,286$1,763$1,344$1,014$759$374
25 years$2,171$1,655$1,245$926$683$324
26 years$2,065$1,555$1,155$847$615$282
27 years$1,967$1,464$1,072$775$554$245
28 years$1,877$1,379$997$710$500$213
29 years$1,792$1,301$928$651$452$185
30 years$1,714$1,229$864$598$408$161
31 years$1,641$1,162$806$549$369$140
32 years$1,572$1,099$752$505$334$122
33 years$1,508$1,041$702$464$302$106
34 years$1,448$986$656$427$274$92
35 years$1,391$936$613$393$248$80
36 years$1,337$888$573$362$224$70
37 years$1,287$843$537$333$203$61
38 years$1,239$802$503$307$184$53
39 years$1,194$762$471$283$167$46
40 years$1,151$725$441$261$152$40
41 years$1,111$690$414$241$138$35
42 years$1,072$657$388$223$125$31
43 years$1,035$626$364$205$113$27
44 years$1,000$597$342$190$103$23
45 years$967$569$321$175$93$20
46 years$935$543$302$162$85$18
47 years$905$518$283$150$77$15
48 years$876$495$266$138$70$13
49 years$849$473$250$128$64$12
50 years$822$451$235$118$58$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $842,000, adding $4,957 every year, while hoping to spend $35,976 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: 68/26/6 Blend
60$842,000$842,000$842,000$842,000
61$932,997$888,371$875,320$995,294
62$989,885$893,623$866,365$1,042,450
63$1,051,369$897,927$855,904$1,089,150
64$1,117,881$901,197$843,850$1,139,241
65$1,189,894$903,346$830,108$1,193,046
66$1,267,929$904,275$814,583$1,250,925
67$1,352,559$903,886$797,172$1,313,272
68$1,444,413$902,069$777,770$1,380,524
69$1,544,184$898,711$756,266$1,453,161
70$1,652,633$893,691$732,544$1,531,714
71$1,770,599$886,879$706,481$1,616,769
72$1,899,004$878,139$677,952$1,708,971
73$2,038,861$867,327$646,822$1,809,034
74$2,191,288$854,289$612,954$1,917,743
75$2,357,513$838,863$576,201$2,035,966
76$2,538,888$820,876$536,413$2,164,660
77$2,736,902$800,147$493,431$2,304,882
78$2,953,194$776,482$447,088$2,457,795
79$3,189,567$749,677$397,213$2,624,687
80$3,448,008$719,515$343,624$2,806,974
81$3,730,702$685,769$286,133$3,006,222
82$4,040,057$648,195$224,542$3,224,156
83$4,378,724$606,538$158,645$3,462,681
84$4,749,623$560,528$88,229$3,723,896
85$5,155,968$509,877$13,068$4,010,120
86$5,601,299$454,283$0$4,323,909
87$6,089,516$393,428$0$4,672,380
88$6,624,913$326,972$0$5,055,518
89$7,212,220$254,559$0$5,475,932
90$7,856,646$175,813$0$5,937,424
91$8,563,931$90,334$0$6,444,184
92$9,340,395$0$0$7,000,837
93$10,193,000$0$0$7,613,134
94$11,129,418$0$0$8,314,057
95$12,158,097$0$0$9,084,093
96$13,288,347$0$0$9,930,216
97$14,530,420$0$0$10,860,109
98$15,895,615$0$0$11,882,237
99$17,396,378$0$0$13,005,925
100$19,046,419$0$0$14,241,448