Can I retire at age 61 with 881,000?

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 $881,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$72,752$72,104$71,472$70,855$70,252$69,432
2 years$36,016$35,345$34,695$34,065$33,453$32,628
3 years$23,772$23,098$22,450$21,826$21,224$20,419
4 years$17,651$16,980$16,338$15,724$15,137$14,358
5 years$13,980$13,312$12,679$12,078$11,507$10,757
6 years$11,533$10,871$10,246$9,659$9,105$8,385
7 years$9,786$9,129$8,515$7,941$7,405$6,714
8 years$8,476$7,825$7,221$6,661$6,143$5,482
9 years$7,458$6,813$6,220$5,674$5,173$4,542
10 years$6,644$6,006$5,422$4,891$4,408$3,806
11 years$5,979$5,346$4,774$4,257$3,791$3,218
12 years$5,424$4,799$4,237$3,734$3,285$2,740
13 years$4,956$4,337$3,785$3,296$2,865$2,347
14 years$4,554$3,942$3,401$2,926$2,511$2,020
15 years$4,207$3,601$3,071$2,610$2,211$1,746
16 years$3,903$3,304$2,784$2,337$1,954$1,514
17 years$3,635$3,043$2,533$2,099$1,733$1,317
18 years$3,398$2,812$2,313$1,892$1,541$1,148
19 years$3,185$2,606$2,117$1,710$1,373$1,003
20 years$2,994$2,421$1,943$1,548$1,227$878
21 years$2,822$2,255$1,787$1,405$1,098$770
22 years$2,665$2,105$1,647$1,278$984$676
23 years$2,522$1,969$1,521$1,164$883$594
24 years$2,391$1,845$1,406$1,061$794$523
25 years$2,271$1,731$1,303$969$714$460
26 years$2,161$1,627$1,208$886$643$406
27 years$2,058$1,531$1,122$811$580$358
28 years$1,964$1,443$1,043$743$523$316
29 years$1,875$1,361$971$682$473$279
30 years$1,793$1,286$904$625$427$246
31 years$1,717$1,215$843$574$386$218
32 years$1,645$1,150$786$528$349$192
33 years$1,578$1,089$734$485$316$170
34 years$1,515$1,032$686$447$286$151
35 years$1,455$979$641$411$259$133
36 years$1,399$929$600$379$235$118
37 years$1,346$883$562$349$213$104
38 years$1,296$839$526$322$193$92
39 years$1,249$798$493$297$175$82
40 years$1,204$759$462$274$159$72
41 years$1,162$722$433$252$144$64
42 years$1,122$688$406$233$131$57
43 years$1,083$655$381$215$119$50
44 years$1,047$625$358$199$108$45
45 years$1,012$596$336$183$98$40
46 years$979$568$316$169$89$35
47 years$947$542$296$156$81$31
48 years$917$518$279$145$73$27
49 years$888$494$262$134$66$24
50 years$860$472$246$123$60$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $881,000, adding $4,522 every year, while hoping to spend $39,057 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: 90/5/5 Blend
60$881,000$881,000$881,000$881,000
61$975,526$928,833$915,178$1,063,089
62$1,033,474$932,790$904,280$1,124,639
63$1,096,023$935,631$891,708$1,186,300
64$1,163,601$937,262$877,365$1,252,798
65$1,236,680$937,579$861,148$1,324,590
66$1,315,777$936,475$842,951$1,402,178
67$1,401,459$933,836$822,663$1,486,113
68$1,494,352$929,538$800,167$1,577,003
69$1,595,144$923,453$775,340$1,675,517
70$1,704,590$915,443$748,055$1,782,391
71$1,823,521$905,364$718,179$1,898,436
72$1,952,853$893,059$685,571$2,024,544
73$2,093,593$878,367$650,085$2,161,696
74$2,246,846$861,114$611,570$2,310,974
75$2,413,832$841,116$569,865$2,473,568
76$2,595,891$818,180$524,804$2,650,791
77$2,794,500$792,098$476,213$2,844,086
78$3,011,282$762,654$423,909$3,055,044
79$3,248,026$729,618$367,704$3,285,416
80$3,506,700$692,744$307,397$3,537,131
81$3,789,471$651,777$242,783$3,812,315
82$4,098,725$606,442$173,644$4,113,309
83$4,437,089$556,451$99,755$4,442,692
84$4,807,456$501,501$20,880$4,803,304
85$5,213,010$441,268$0$5,198,275
86$5,657,259$375,412$0$5,634,430
87$6,144,065$303,573$0$6,113,599
88$6,677,684$225,372$0$6,638,866
89$7,262,800$140,408$0$7,214,858
90$7,904,574$48,256$0$7,846,669
91$8,608,689$0$0$8,539,915
92$9,381,405$0$0$9,303,614
93$10,229,620$0$0$10,144,846
94$11,160,929$0$0$11,068,490
95$12,183,700$0$0$12,082,846
96$13,307,151$0$0$13,197,055
97$14,541,437$0$0$14,421,188
98$15,897,744$0$0$15,766,341
99$17,388,395$0$0$17,244,737
100$19,026,970$0$0$18,869,842