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%13.8%
1 years$72,587$71,940$71,310$70,694$70,093$68,988
2 years$35,934$35,265$34,616$33,987$33,377$32,268
3 years$23,718$23,046$22,399$21,776$21,176$20,095
4 years$17,611$16,941$16,301$15,688$15,103$14,060
5 years$13,948$13,282$12,650$12,050$11,481$10,478
6 years$11,507$10,846$10,223$9,637$9,085$8,123
7 years$9,764$9,108$8,495$7,923$7,388$6,469
8 years$8,457$7,808$7,205$6,646$6,129$5,252
9 years$7,441$6,798$6,206$5,661$5,162$4,326
10 years$6,629$5,992$5,410$4,880$4,398$3,603
11 years$5,965$5,334$4,763$4,247$3,782$3,027
12 years$5,412$4,788$4,227$3,725$3,278$2,561
13 years$4,945$4,327$3,777$3,289$2,858$2,179
14 years$4,544$3,933$3,393$2,919$2,506$1,863
15 years$4,197$3,593$3,064$2,604$2,206$1,599
16 years$3,894$3,296$2,778$2,331$1,950$1,377
17 years$3,627$3,036$2,528$2,095$1,729$1,190
18 years$3,390$2,805$2,307$1,888$1,537$1,030
19 years$3,178$2,600$2,112$1,706$1,370$893
20 years$2,987$2,416$1,939$1,545$1,224$776
21 years$2,815$2,250$1,783$1,402$1,095$675
22 years$2,659$2,101$1,643$1,275$982$588
23 years$2,516$1,965$1,517$1,161$881$513
24 years$2,386$1,841$1,403$1,059$792$448
25 years$2,266$1,727$1,300$967$713$391
26 years$2,156$1,624$1,205$884$642$342
27 years$2,054$1,528$1,119$809$579$299
28 years$1,959$1,440$1,041$742$522$262
29 years$1,871$1,358$968$680$472$230
30 years$1,789$1,283$902$624$426$201
31 years$1,713$1,213$841$573$385$176
32 years$1,641$1,147$785$527$348$155
33 years$1,574$1,087$733$484$315$136
34 years$1,511$1,030$684$446$286$119
35 years$1,452$977$640$410$259$104
36 years$1,396$927$599$378$234$92
37 years$1,343$881$560$348$212$80
38 years$1,294$837$525$321$193$71
39 years$1,246$796$492$296$175$62
40 years$1,202$757$461$273$158$54
41 years$1,159$721$432$252$144$48
42 years$1,119$686$405$232$130$42
43 years$1,081$654$380$214$118$37
44 years$1,044$623$357$198$107$32
45 years$1,010$594$335$183$97$28
46 years$977$567$315$169$89$25
47 years$945$541$296$156$80$22
48 years$915$517$278$144$73$19
49 years$886$493$261$133$66$17
50 years$858$471$246$123$60$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $879,000, adding $5,918 every year, while hoping to spend $52,057 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: 64/30/6 Blend
60$879,000$879,000$879,000$879,000
61$974,762$928,175$914,551$1,035,788
62$1,018,800$918,268$889,800$1,067,236
63$1,065,585$906,130$862,475$1,094,861
64$1,115,342$891,598$832,436$1,123,665
65$1,168,317$874,497$799,533$1,153,758
66$1,224,782$854,643$763,614$1,185,263
67$1,285,030$831,842$724,516$1,218,317
68$1,349,387$805,886$682,071$1,253,073
69$1,418,207$776,556$636,102$1,289,702
70$1,491,878$743,621$586,426$1,328,394
71$1,570,828$706,837$532,849$1,369,360
72$1,655,524$665,944$475,171$1,412,838
73$1,746,480$620,667$413,182$1,459,090
74$1,844,259$570,719$346,662$1,508,409
75$1,949,480$515,791$275,382$1,561,122
76$2,062,823$455,560$199,103$1,617,590
77$2,185,034$389,685$117,576$1,678,217
78$2,316,931$317,804$30,539$1,743,451
79$2,459,417$239,535$0$1,813,792
80$2,613,480$154,475$0$1,893,783
81$2,780,209$62,198$0$1,982,394
82$2,960,798$0$0$2,078,371
83$3,156,564$0$0$2,194,951
84$3,368,951$0$0$2,343,758
85$3,599,550$0$0$2,505,377
86$3,850,109$0$0$2,681,042
87$4,122,552$0$0$2,872,109
88$4,418,997$0$0$3,080,068
89$4,741,771$0$0$3,306,563
90$5,093,437$0$0$3,553,398
91$5,476,815$0$0$3,822,561
92$5,895,009$0$0$4,116,241
93$6,351,435$0$0$4,436,845
94$6,849,853$0$0$4,787,024
95$7,394,402$0$0$5,169,697
96$7,989,641$0$0$5,588,076
97$8,640,585$0$0$6,045,698
98$9,352,760$0$0$6,546,458
99$10,132,248$0$0$7,094,645
100$10,985,747$0$0$7,694,981