Can I retire at age 61 with 862,000?

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 $862,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$71,183$70,549$69,930$69,327$68,737$67,878
2 years$35,239$34,583$33,947$33,330$32,732$31,868
3 years$23,259$22,600$21,966$21,355$20,766$19,924
4 years$17,271$16,614$15,986$15,385$14,811$13,996
5 years$13,678$13,025$12,405$11,817$11,259$10,475
6 years$11,284$10,636$10,025$9,450$8,909$8,156
7 years$9,575$8,932$8,331$7,770$7,245$6,524
8 years$8,294$7,657$7,065$6,518$6,011$5,321
9 years$7,297$6,666$6,086$5,552$5,062$4,403
10 years$6,501$5,876$5,305$4,786$4,313$3,685
11 years$5,850$5,231$4,671$4,165$3,709$3,112
12 years$5,307$4,695$4,145$3,653$3,214$2,646
13 years$4,849$4,243$3,704$3,225$2,803$2,264
14 years$4,456$3,857$3,328$2,863$2,457$1,946
15 years$4,116$3,523$3,004$2,553$2,163$1,679
16 years$3,819$3,233$2,724$2,286$1,912$1,454
17 years$3,557$2,977$2,479$2,054$1,695$1,263
18 years$3,324$2,751$2,263$1,851$1,507$1,100
19 years$3,117$2,550$2,071$1,673$1,344$959
20 years$2,930$2,369$1,901$1,515$1,200$839
21 years$2,761$2,207$1,749$1,375$1,074$734
22 years$2,608$2,060$1,612$1,250$963$643
23 years$2,468$1,927$1,488$1,138$864$565
24 years$2,340$1,805$1,376$1,038$777$496
25 years$2,222$1,694$1,275$948$699$436
26 years$2,114$1,592$1,182$867$630$384
27 years$2,014$1,498$1,098$794$568$338
28 years$1,921$1,412$1,020$727$512$298
29 years$1,835$1,332$950$667$462$263
30 years$1,755$1,258$885$612$418$232
31 years$1,680$1,189$825$562$378$204
32 years$1,609$1,125$769$517$342$180
33 years$1,544$1,066$718$475$309$159
34 years$1,482$1,010$671$437$280$141
35 years$1,424$958$628$402$254$124
36 years$1,369$909$587$371$230$110
37 years$1,317$863$549$341$208$97
38 years$1,269$821$515$315$189$86
39 years$1,222$780$482$290$171$76
40 years$1,178$742$452$268$155$67
41 years$1,137$707$424$247$141$59
42 years$1,097$673$397$228$128$52
43 years$1,060$641$373$210$116$46
44 years$1,024$611$350$194$105$41
45 years$990$583$329$179$96$36
46 years$958$556$309$166$87$32
47 years$927$531$290$153$79$28
48 years$897$507$273$141$72$25
49 years$869$484$256$131$65$22
50 years$842$462$241$121$59$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $862,000, adding $6,546 every year, while hoping to spend $35,093 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: 50/31/19 Blend
60$862,000$862,000$862,000$862,000
61$956,676$910,990$897,629$999,147
62$1,016,918$918,290$890,361$1,036,486
63$1,082,129$924,771$881,673$1,072,904
64$1,152,778$930,357$871,481$1,111,735
65$1,229,382$934,965$859,696$1,153,219
66$1,312,509$938,508$846,226$1,197,622
67$1,402,783$940,893$830,973$1,245,240
68$1,500,892$942,022$813,835$1,296,399
69$1,607,590$941,789$794,706$1,351,461
70$1,723,711$940,083$773,476$1,410,826
71$1,850,169$936,786$750,026$1,474,937
72$1,987,971$931,773$724,236$1,544,284
73$2,138,224$924,910$695,979$1,619,410
74$2,302,149$916,057$665,120$1,700,914
75$2,481,088$905,063$631,522$1,789,460
76$2,676,519$891,771$595,037$1,885,783
77$2,890,067$876,012$555,514$1,990,695
78$3,123,525$857,607$512,795$2,105,092
79$3,378,863$836,369$466,713$2,229,968
80$3,658,254$812,097$417,094$2,366,421
81$3,964,087$784,581$363,757$2,515,662
82$4,298,994$753,596$306,514$2,679,033
83$4,665,875$718,906$245,166$2,858,016
84$5,067,922$680,259$179,506$3,054,247
85$5,508,650$637,393$109,320$3,269,535
86$5,991,933$590,025$34,383$3,505,880
87$6,522,035$537,861$0$3,765,488
88$7,103,653$480,587$0$4,060,041
89$7,741,962$417,872$0$4,391,028
90$8,442,661$349,367$0$4,754,500
91$9,212,028$274,702$0$5,153,794
92$10,056,980$193,487$0$5,592,594
93$10,985,135$105,310$0$6,074,964
94$12,004,885$9,737$0$6,605,386
95$13,125,476$0$0$7,188,805
96$14,357,095$0$0$7,862,636
97$15,710,963$0$0$8,607,101
98$17,199,442$0$0$9,425,689
99$18,836,155$0$0$10,325,905
100$20,636,107$0$0$11,316,015