Can I retire at age 61 with 879,000?

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 $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%16.2%
1 years$72,587$71,940$71,310$70,694$70,093$68,315
2 years$35,934$35,265$34,616$33,987$33,377$31,598
3 years$23,718$23,046$22,399$21,776$21,176$19,451
4 years$17,611$16,941$16,301$15,688$15,103$13,445
5 years$13,948$13,282$12,650$12,050$11,481$9,894
6 years$11,507$10,846$10,223$9,637$9,085$7,571
7 years$9,764$9,108$8,495$7,923$7,388$5,948
8 years$8,457$7,808$7,205$6,646$6,129$4,762
9 years$7,441$6,798$6,206$5,661$5,162$3,866
10 years$6,629$5,992$5,410$4,880$4,398$3,173
11 years$5,965$5,334$4,763$4,247$3,782$2,626
12 years$5,412$4,788$4,227$3,725$3,278$2,187
13 years$4,945$4,327$3,777$3,289$2,858$1,832
14 years$4,544$3,933$3,393$2,919$2,506$1,541
15 years$4,197$3,593$3,064$2,604$2,206$1,301
16 years$3,894$3,296$2,778$2,331$1,950$1,101
17 years$3,627$3,036$2,528$2,095$1,729$935
18 years$3,390$2,805$2,307$1,888$1,537$795
19 years$3,178$2,600$2,112$1,706$1,370$678
20 years$2,987$2,416$1,939$1,545$1,224$578
21 years$2,815$2,250$1,783$1,402$1,095$494
22 years$2,659$2,101$1,643$1,275$982$422
23 years$2,516$1,965$1,517$1,161$881$362
24 years$2,386$1,841$1,403$1,059$792$310
25 years$2,266$1,727$1,300$967$713$266
26 years$2,156$1,624$1,205$884$642$228
27 years$2,054$1,528$1,119$809$579$195
28 years$1,959$1,440$1,041$742$522$168
29 years$1,871$1,358$968$680$472$144
30 years$1,789$1,283$902$624$426$124
31 years$1,713$1,213$841$573$385$106
32 years$1,641$1,147$785$527$348$91
33 years$1,574$1,087$733$484$315$79
34 years$1,511$1,030$684$446$286$68
35 years$1,452$977$640$410$259$58
36 years$1,396$927$599$378$234$50
37 years$1,343$881$560$348$212$43
38 years$1,294$837$525$321$193$37
39 years$1,246$796$492$296$175$32
40 years$1,202$757$461$273$158$27
41 years$1,159$721$432$252$144$24
42 years$1,119$686$405$232$130$20
43 years$1,081$654$380$214$118$17
44 years$1,044$623$357$198$107$15
45 years$1,010$594$335$183$97$13
46 years$977$567$315$169$89$11
47 years$945$541$296$156$80$10
48 years$915$517$278$144$73$8
49 years$886$493$261$133$66$7
50 years$858$471$246$123$60$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $879,000, adding $5,479 every year, while hoping to spend $55,146 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: 78/7/15 Blend
60$879,000$879,000$879,000$879,000
61$974,310$927,723$914,098$1,046,811
62$1,015,014$914,506$886,045$1,082,141
63$1,058,023$898,794$855,205$1,113,337
64$1,103,511$880,405$821,425$1,146,018
65$1,151,673$859,149$784,546$1,180,312
66$1,202,719$834,822$744,404$1,216,358
67$1,256,879$807,211$700,824$1,254,313
68$1,314,406$776,089$653,626$1,294,348
69$1,375,574$741,216$602,621$1,336,653
70$1,440,684$702,338$547,611$1,381,439
71$1,510,067$659,186$488,389$1,428,937
72$1,584,084$611,476$424,740$1,479,403
73$1,663,130$558,908$356,439$1,533,121
74$1,747,639$501,164$283,249$1,590,405
75$1,838,087$437,909$204,926$1,651,599
76$1,934,994$368,789$121,214$1,717,087
77$2,038,932$293,429$31,843$1,787,291
78$2,150,529$211,433$0$1,862,678
79$2,270,473$122,383$0$1,953,933
80$2,399,520$25,838$0$2,057,557
81$2,538,500$0$0$2,169,129
82$2,688,324$0$0$2,295,453
83$2,849,993$0$0$2,433,935
84$3,024,607$0$0$2,583,528
85$3,213,376$0$0$2,745,273
86$3,417,626$0$0$2,920,309
87$3,638,820$0$0$3,109,892
88$3,878,563$0$0$3,315,401
89$4,138,619$0$0$3,538,354
90$4,420,931$0$0$3,780,418
91$4,727,635$0$0$4,043,430
92$5,061,079$0$0$4,329,407
93$5,423,847$0$0$4,640,570
94$5,818,785$0$0$4,979,363
95$6,249,019$0$0$5,348,476
96$6,717,994$0$0$5,750,865
97$7,229,499$0$0$6,189,790
98$7,787,705$0$0$6,668,833
99$8,397,203$0$0$7,191,940
100$9,063,048$0$0$7,763,456