Can I retire at age 61 with 856,000?

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 $856,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$70,688$70,058$69,444$68,844$68,259$67,211
2 years$34,994$34,342$33,711$33,098$32,504$31,451
3 years$23,098$22,443$21,813$21,206$20,622$19,596
4 years$17,151$16,498$15,874$15,278$14,708$13,717
5 years$13,583$12,935$12,319$11,735$11,181$10,229
6 years$11,206$10,562$9,956$9,385$8,847$7,934
7 years$9,508$8,870$8,273$7,716$7,195$6,322
8 years$8,236$7,603$7,016$6,472$5,969$5,135
9 years$7,247$6,620$6,043$5,513$5,027$4,232
10 years$6,456$5,835$5,269$4,752$4,283$3,527
11 years$5,809$5,195$4,638$4,136$3,683$2,965
12 years$5,270$4,663$4,116$3,628$3,192$2,510
13 years$4,815$4,214$3,678$3,203$2,783$2,138
14 years$4,425$3,830$3,304$2,843$2,440$1,829
15 years$4,088$3,499$2,983$2,535$2,148$1,571
16 years$3,792$3,210$2,705$2,270$1,899$1,354
17 years$3,532$2,956$2,461$2,040$1,684$1,170
18 years$3,301$2,732$2,247$1,838$1,497$1,013
19 years$3,095$2,532$2,057$1,661$1,334$880
20 years$2,909$2,353$1,888$1,504$1,192$765
21 years$2,742$2,191$1,736$1,365$1,066$666
22 years$2,589$2,046$1,600$1,241$956$581
23 years$2,451$1,913$1,478$1,131$858$507
24 years$2,324$1,793$1,367$1,031$771$443
25 years$2,207$1,682$1,266$942$694$387
26 years$2,099$1,581$1,174$861$625$339
27 years$2,000$1,488$1,090$788$564$297
28 years$1,908$1,402$1,013$722$509$260
29 years$1,822$1,323$943$662$459$228
30 years$1,742$1,249$878$608$415$200
31 years$1,668$1,181$819$558$375$175
32 years$1,598$1,117$764$513$339$154
33 years$1,533$1,058$713$472$307$135
34 years$1,472$1,003$667$434$278$119
35 years$1,414$951$623$400$252$104
36 years$1,360$903$583$368$228$91
37 years$1,308$857$546$339$207$80
38 years$1,260$815$511$312$188$71
39 years$1,214$775$479$288$170$62
40 years$1,170$737$449$266$154$54
41 years$1,129$702$421$245$140$48
42 years$1,090$668$395$226$127$42
43 years$1,053$637$370$209$115$37
44 years$1,017$607$348$193$105$33
45 years$983$579$326$178$95$29
46 years$951$552$307$165$86$25
47 years$920$527$288$152$78$22
48 years$891$503$271$140$71$19
49 years$863$480$254$130$65$17
50 years$836$459$239$120$59$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $856,000, adding $5,993 every year, while hoping to spend $47,045 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: 51/29/20 Blend
60$856,000$856,000$856,000$856,000
61$949,494$904,126$890,858$992,368
62$996,287$898,372$870,646$1,016,840
63$1,046,276$890,760$848,180$1,038,090
64$1,099,737$881,149$823,336$1,060,196
65$1,156,974$869,389$795,981$1,083,255
66$1,218,318$855,322$765,980$1,107,378
67$1,284,135$838,781$733,188$1,132,688
68$1,354,824$819,588$697,457$1,159,327
69$1,430,823$797,556$658,629$1,187,450
70$1,512,616$772,485$616,542$1,217,236
71$1,600,731$744,164$571,024$1,248,882
72$1,695,749$712,372$521,897$1,282,610
73$1,798,309$676,872$468,974$1,318,668
74$1,909,112$637,414$412,060$1,357,336
75$2,028,929$593,735$350,952$1,398,924
76$2,158,608$545,556$285,437$1,443,780
77$2,299,080$492,583$215,293$1,492,292
78$2,451,370$434,502$140,289$1,544,893
79$2,616,603$370,987$60,182$1,602,066
80$2,796,018$301,687$0$1,664,349
81$2,990,979$226,236$0$1,737,743
82$3,202,983$144,246$0$1,831,571
83$3,433,680$55,307$0$1,933,779
84$3,684,883$0$0$2,045,253
85$3,958,590$0$0$2,180,066
86$4,256,997$0$0$2,346,368
87$4,582,522$0$0$2,527,866
88$4,937,827$0$0$2,726,055
89$5,325,842$0$0$2,942,580
90$5,749,792$0$0$3,179,253
91$6,213,227$0$0$3,438,067
92$6,720,056$0$0$3,721,218
93$7,274,585$0$0$4,031,123
94$7,881,551$0$0$4,370,444
95$8,546,173$0$0$4,742,112
96$9,274,200$0$0$5,149,356
97$10,071,959$0$0$5,595,730
98$10,946,421$0$0$6,085,150
99$11,905,263$0$0$6,621,929
100$12,956,939$0$0$7,210,817