Can I retire at age 61 with 880,000?

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 $880,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$72,670$72,022$71,391$70,774$70,172$69,847
2 years$35,975$35,305$34,656$34,026$33,415$33,087
3 years$23,745$23,072$22,425$21,801$21,200$20,879
4 years$17,631$16,961$16,319$15,706$15,120$14,809
5 years$13,964$13,297$12,664$12,064$11,494$11,193
6 years$11,520$10,858$10,235$9,648$9,095$8,805
7 years$9,775$9,119$8,505$7,932$7,397$7,118
8 years$8,467$7,816$7,213$6,654$6,136$5,868
9 years$7,450$6,806$6,213$5,668$5,168$4,911
10 years$6,637$5,999$5,416$4,886$4,403$4,157
11 years$5,972$5,340$4,768$4,252$3,787$3,551
12 years$5,418$4,793$4,232$3,729$3,281$3,057
13 years$4,950$4,332$3,781$3,293$2,862$2,647
14 years$4,549$3,937$3,397$2,923$2,508$2,304
15 years$4,202$3,597$3,067$2,607$2,209$2,014
16 years$3,899$3,300$2,781$2,334$1,952$1,767
17 years$3,631$3,039$2,530$2,097$1,731$1,555
18 years$3,394$2,808$2,310$1,890$1,539$1,372
19 years$3,182$2,603$2,115$1,708$1,372$1,214
20 years$2,991$2,419$1,941$1,547$1,225$1,075
21 years$2,818$2,253$1,785$1,404$1,096$955
22 years$2,662$2,103$1,645$1,276$983$849
23 years$2,519$1,967$1,519$1,162$882$756
24 years$2,389$1,843$1,405$1,060$793$674
25 years$2,269$1,729$1,301$968$714$601
26 years$2,158$1,625$1,207$885$643$537
27 years$2,056$1,530$1,121$810$579$480
28 years$1,961$1,441$1,042$742$523$429
29 years$1,873$1,360$969$681$472$384
30 years$1,791$1,284$903$625$427$344
31 years$1,715$1,214$842$574$386$309
32 years$1,643$1,149$785$527$349$277
33 years$1,576$1,088$733$485$316$248
34 years$1,513$1,031$685$446$286$223
35 years$1,454$978$641$411$259$200
36 years$1,398$928$599$378$235$179
37 years$1,345$882$561$349$213$161
38 years$1,295$838$525$321$193$145
39 years$1,248$797$492$296$175$130
40 years$1,203$758$461$273$159$117
41 years$1,161$721$433$252$144$105
42 years$1,120$687$406$233$131$94
43 years$1,082$655$381$215$118$85
44 years$1,046$624$357$198$108$76
45 years$1,011$595$336$183$98$69
46 years$978$568$315$169$89$62
47 years$946$542$296$156$80$55
48 years$916$517$278$144$73$50
49 years$887$494$262$133$66$45
50 years$859$472$246$123$60$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $880,000, adding $3,202 every year, while hoping to spend $27,652 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: 66/9/25 Blend
60$880,000$880,000$880,000$880,000
61$973,063$926,423$912,783$1,030,767
62$1,042,894$942,396$913,940$1,085,985
63$1,118,921$958,225$914,208$1,142,919
64$1,201,746$973,874$913,530$1,204,538
65$1,292,034$989,303$911,843$1,271,306
66$1,390,514$1,004,472$909,082$1,343,733
67$1,497,990$1,019,334$905,180$1,422,381
68$1,615,346$1,033,843$900,064$1,507,871
69$1,743,556$1,047,946$893,661$1,600,888
70$1,883,692$1,061,588$885,892$1,702,184
71$2,036,934$1,074,712$876,675$1,812,593
72$2,204,581$1,087,253$865,924$1,933,031
73$2,388,065$1,099,145$853,549$2,064,509
74$2,588,961$1,110,316$839,456$2,208,142
75$2,809,003$1,120,690$823,546$2,365,160
76$3,050,103$1,130,185$805,716$2,536,917
77$3,314,364$1,138,715$785,858$2,724,908
78$3,604,104$1,146,187$763,859$2,930,782
79$3,921,876$1,152,502$739,601$3,156,354
80$4,270,489$1,157,557$712,960$3,403,627
81$4,653,042$1,161,241$683,807$3,674,811
82$5,072,945$1,163,434$652,007$3,972,339
83$5,533,954$1,164,011$617,418$4,298,895
84$6,040,208$1,162,838$579,893$4,657,441
85$6,596,267$1,159,775$539,277$5,051,237
86$7,207,153$1,154,671$495,409$5,483,881
87$7,878,398$1,147,365$448,121$5,959,340
88$8,616,098$1,137,689$397,236$6,481,984
89$9,426,967$1,125,463$342,571$7,056,633
90$10,318,404$1,110,497$283,933$7,688,601
91$11,298,559$1,092,589$221,123$8,383,745
92$12,376,411$1,071,525$153,930$9,148,521
93$13,561,854$1,047,079$82,136$9,990,049
94$14,865,789$1,019,012$5,513$10,916,173
95$16,300,225$987,069$0$11,935,545
96$17,878,394$950,981$0$13,078,040
97$19,614,876$910,465$0$14,336,719
98$21,525,736$865,220$0$15,721,764
99$23,628,672$814,927$0$17,246,019
100$25,943,188$759,250$0$18,923,636