Can I retire at age 61 with 848,000?

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 $848,000?

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$70,027$69,403$68,795$68,201$67,621$66,998
2 years$34,667$34,021$33,395$32,789$32,200$31,573
3 years$22,882$22,233$21,609$21,008$20,429$19,817
4 years$16,990$16,344$15,726$15,135$14,570$13,977
5 years$13,456$12,814$12,204$11,625$11,076$10,504
6 years$11,101$10,463$9,863$9,297$8,764$8,214
7 years$9,419$8,787$8,196$7,643$7,128$6,600
8 years$8,159$7,532$6,951$6,412$5,913$5,408
9 years$7,179$6,558$5,987$5,461$4,980$4,496
10 years$6,395$5,781$5,219$4,708$4,243$3,781
11 years$5,755$5,146$4,595$4,097$3,649$3,209
12 years$5,221$4,619$4,078$3,594$3,162$2,743
13 years$4,770$4,174$3,643$3,173$2,757$2,358
14 years$4,384$3,794$3,274$2,816$2,417$2,038
15 years$4,049$3,466$2,956$2,512$2,128$1,768
16 years$3,757$3,180$2,680$2,249$1,881$1,540
17 years$3,499$2,929$2,438$2,021$1,668$1,345
18 years$3,270$2,706$2,226$1,821$1,483$1,178
19 years$3,066$2,508$2,038$1,646$1,322$1,033
20 years$2,882$2,331$1,870$1,490$1,181$909
21 years$2,716$2,171$1,720$1,353$1,057$800
22 years$2,565$2,026$1,585$1,230$947$706
23 years$2,428$1,895$1,464$1,120$850$623
24 years$2,302$1,776$1,354$1,022$764$551
25 years$2,186$1,667$1,254$933$688$487
26 years$2,080$1,566$1,163$853$619$431
27 years$1,981$1,474$1,080$781$558$382
28 years$1,890$1,389$1,004$715$504$339
29 years$1,805$1,310$934$656$455$301
30 years$1,726$1,237$870$602$411$267
31 years$1,652$1,170$811$553$372$237
32 years$1,583$1,107$757$508$336$211
33 years$1,519$1,048$707$467$304$187
34 years$1,458$993$660$430$275$167
35 years$1,401$942$617$396$250$148
36 years$1,347$894$578$365$226$132
37 years$1,296$849$541$336$205$117
38 years$1,248$807$506$310$186$104
39 years$1,202$768$474$285$168$93
40 years$1,159$730$445$263$153$83
41 years$1,118$695$417$243$139$74
42 years$1,080$662$391$224$126$65
43 years$1,043$631$367$207$114$58
44 years$1,008$601$344$191$104$52
45 years$974$573$323$176$94$46
46 years$942$547$304$163$85$41
47 years$912$522$285$151$78$37
48 years$882$498$268$139$70$33
49 years$855$476$252$129$64$29
50 years$828$455$237$119$58$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $848,000, adding $4,023 every year, while hoping to spend $21,190 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: 65/20/15 Blend
60$848,000$848,000$848,000$848,000
61$938,646$893,702$880,558$996,022
62$1,011,842$914,947$887,510$1,056,153
63$1,091,793$936,523$893,986$1,119,011
64$1,179,167$958,424$899,946$1,187,175
65$1,274,698$980,643$905,349$1,261,164
66$1,379,193$1,003,170$910,155$1,341,549
67$1,493,543$1,025,998$914,317$1,428,957
68$1,618,727$1,049,114$917,789$1,524,082
69$1,755,825$1,072,508$920,523$1,627,686
70$1,906,024$1,096,166$922,465$1,740,610
71$2,070,633$1,120,073$923,563$1,863,779
72$2,251,094$1,144,213$923,758$1,998,214
73$2,448,993$1,168,566$922,991$2,145,038
74$2,666,079$1,193,115$921,200$2,305,490
75$2,904,277$1,217,836$918,318$2,480,935
76$3,165,708$1,242,705$914,277$2,672,876
77$3,452,709$1,267,696$909,004$2,882,969
78$3,767,854$1,292,781$902,424$3,113,042
79$4,113,976$1,317,929$894,457$3,365,105
80$4,494,200$1,343,106$885,019$3,641,376
81$4,911,966$1,368,275$874,024$3,944,298
82$5,371,063$1,393,397$861,381$4,276,564
83$5,875,668$1,418,430$846,994$4,641,141
84$6,430,380$1,443,327$830,762$5,041,299
85$7,040,268$1,468,039$812,581$5,480,642
86$7,710,915$1,492,513$792,343$5,963,141
87$8,448,473$1,516,691$769,931$6,493,173
88$9,259,719$1,540,511$745,226$7,075,561
89$10,152,123$1,563,908$718,103$7,715,623
90$11,133,910$1,586,810$688,430$8,419,215
91$12,214,148$1,609,143$656,071$9,192,796
92$13,402,824$1,630,824$620,883$10,043,480
93$14,710,944$1,651,766$582,714$10,979,109
94$16,150,635$1,671,877$541,410$12,008,326
95$17,735,258$1,691,058$496,806$13,140,657
96$19,479,537$1,709,202$448,731$14,386,598
97$21,399,693$1,726,197$397,007$15,757,718
98$23,513,603$1,741,921$341,448$17,266,768
99$25,840,962$1,756,247$281,858$18,927,799
100$28,403,474$1,769,037$218,035$20,756,297