Can I retire at age 61 with 879,000?

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 $879,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$72,587$71,940$71,310$70,694$70,093$69,739
2 years$35,934$35,265$34,616$33,987$33,377$33,020
3 years$23,718$23,046$22,399$21,776$21,176$20,827
4 years$17,611$16,941$16,301$15,688$15,103$14,764
5 years$13,948$13,282$12,650$12,050$11,481$11,154
6 years$11,507$10,846$10,223$9,637$9,085$8,769
7 years$9,764$9,108$8,495$7,923$7,388$7,085
8 years$8,457$7,808$7,205$6,646$6,129$5,838
9 years$7,441$6,798$6,206$5,661$5,162$4,882
10 years$6,629$5,992$5,410$4,880$4,398$4,130
11 years$5,965$5,334$4,763$4,247$3,782$3,527
12 years$5,412$4,788$4,227$3,725$3,278$3,033
13 years$4,945$4,327$3,777$3,289$2,858$2,625
14 years$4,544$3,933$3,393$2,919$2,506$2,284
15 years$4,197$3,593$3,064$2,604$2,206$1,995
16 years$3,894$3,296$2,778$2,331$1,950$1,749
17 years$3,627$3,036$2,528$2,095$1,729$1,538
18 years$3,390$2,805$2,307$1,888$1,537$1,356
19 years$3,178$2,600$2,112$1,706$1,370$1,199
20 years$2,987$2,416$1,939$1,545$1,224$1,062
21 years$2,815$2,250$1,783$1,402$1,095$942
22 years$2,659$2,101$1,643$1,275$982$837
23 years$2,516$1,965$1,517$1,161$881$744
24 years$2,386$1,841$1,403$1,059$792$663
25 years$2,266$1,727$1,300$967$713$591
26 years$2,156$1,624$1,205$884$642$528
27 years$2,054$1,528$1,119$809$579$471
28 years$1,959$1,440$1,041$742$522$421
29 years$1,871$1,358$968$680$472$377
30 years$1,789$1,283$902$624$426$337
31 years$1,713$1,213$841$573$385$302
32 years$1,641$1,147$785$527$348$270
33 years$1,574$1,087$733$484$315$242
34 years$1,511$1,030$684$446$286$217
35 years$1,452$977$640$410$259$195
36 years$1,396$927$599$378$234$175
37 years$1,343$881$560$348$212$157
38 years$1,294$837$525$321$193$141
39 years$1,246$796$492$296$175$126
40 years$1,202$757$461$273$158$113
41 years$1,159$721$432$252$144$102
42 years$1,119$686$405$232$130$91
43 years$1,081$654$380$214$118$82
44 years$1,044$623$357$198$107$74
45 years$1,010$594$335$183$97$66
46 years$977$567$315$169$89$60
47 years$945$541$296$156$80$54
48 years$915$517$278$144$73$48
49 years$886$493$261$133$66$43
50 years$858$471$246$123$60$39

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $879,000, adding $2,897 every year, while hoping to spend $48,447 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: 71/14/15 Blend
60$879,000$879,000$879,000$879,000
61$971,646$925,059$911,435$1,037,133
62$1,019,207$918,840$890,421$1,074,772
63$1,069,995$910,692$867,079$1,109,831
64$1,124,289$900,470$841,280$1,146,952
65$1,182,393$888,020$812,889$1,186,330
66$1,244,641$873,177$781,766$1,228,180
67$1,311,401$855,769$747,761$1,272,741
68$1,383,074$835,612$710,721$1,320,277
69$1,460,102$812,511$670,485$1,371,079
70$1,542,969$786,261$626,883$1,425,472
71$1,632,208$756,644$579,739$1,483,811
72$1,728,402$723,429$528,870$1,546,493
73$1,832,194$686,372$474,082$1,613,953
74$1,944,289$645,215$415,175$1,686,675
75$2,065,462$599,686$351,939$1,765,192
76$2,196,565$549,496$284,154$1,850,095
77$2,338,533$494,340$211,592$1,942,036
78$2,492,397$433,896$134,014$2,041,736
79$2,659,287$367,823$51,169$2,149,993
80$2,840,450$295,762$0$2,267,688
81$3,037,253$217,332$0$2,401,754
82$3,251,204$132,131$0$2,556,433
83$3,483,958$39,737$0$2,724,762
84$3,737,338$0$0$2,908,100
85$4,013,351$0$0$3,117,238
86$4,314,204$0$0$3,351,910
87$4,642,325$0$0$3,607,895
88$5,000,389$0$0$3,887,284
89$5,391,339$0$0$4,192,380
90$5,818,414$0$0$4,525,716
91$6,285,182$0$0$4,890,082
92$6,795,569$0$0$5,288,551
93$7,353,897$0$0$5,724,502
94$7,964,929$0$0$6,201,662
95$8,633,905$0$0$6,724,129
96$9,366,598$0$0$7,296,420
97$10,169,366$0$0$7,923,507
98$11,049,207$0$0$8,610,866
99$12,013,833$0$0$9,364,530
100$13,071,736$0$0$10,191,141