Can I retire at age 61 with 882,000?

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 $882,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$72,835$72,186$71,553$70,935$70,332$68,520
2 years$36,057$35,385$34,734$34,103$33,491$31,678
3 years$23,799$23,125$22,475$21,850$21,248$19,491
4 years$17,671$16,999$16,356$15,742$15,154$13,465
5 years$13,996$13,327$12,693$12,091$11,520$9,905
6 years$11,546$10,883$10,258$9,670$9,116$7,575
7 years$9,797$9,139$8,524$7,950$7,413$5,948
8 years$8,486$7,834$7,229$6,669$6,150$4,759
9 years$7,467$6,821$6,227$5,680$5,179$3,861
10 years$6,652$6,012$5,429$4,897$4,413$3,167
11 years$5,985$5,353$4,779$4,262$3,795$2,619
12 years$5,431$4,804$4,241$3,738$3,289$2,180
13 years$4,961$4,342$3,789$3,300$2,868$1,825
14 years$4,560$3,946$3,405$2,929$2,514$1,534
15 years$4,212$3,605$3,074$2,613$2,214$1,294
16 years$3,908$3,308$2,787$2,339$1,956$1,095
17 years$3,640$3,046$2,536$2,102$1,735$929
18 years$3,402$2,815$2,315$1,894$1,542$789
19 years$3,189$2,609$2,119$1,711$1,375$672
20 years$2,998$2,424$1,945$1,550$1,228$573
21 years$2,825$2,258$1,789$1,407$1,099$489
22 years$2,668$2,108$1,649$1,279$985$418
23 years$2,525$1,971$1,523$1,165$884$358
24 years$2,394$1,847$1,408$1,062$795$306
25 years$2,274$1,733$1,304$970$715$262
26 years$2,163$1,629$1,210$887$644$225
27 years$2,061$1,533$1,123$812$581$193
28 years$1,966$1,445$1,044$744$524$165
29 years$1,878$1,363$972$682$473$142
30 years$1,795$1,287$905$626$428$122
31 years$1,719$1,217$844$575$387$104
32 years$1,647$1,151$787$529$350$90
33 years$1,580$1,090$735$486$316$77
34 years$1,516$1,033$687$447$287$66
35 years$1,457$980$642$412$260$57
36 years$1,401$930$601$379$235$49
37 years$1,348$884$562$349$213$42
38 years$1,298$840$526$322$193$36
39 years$1,251$798$493$297$175$31
40 years$1,206$760$462$274$159$27
41 years$1,163$723$434$253$144$23
42 years$1,123$689$407$233$131$20
43 years$1,085$656$382$215$119$17
44 years$1,048$625$358$199$108$15
45 years$1,013$596$336$184$98$13
46 years$980$569$316$170$89$11
47 years$948$543$297$157$81$9
48 years$918$518$279$145$73$8
49 years$889$495$262$134$67$7
50 years$861$473$246$124$60$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $882,000, adding $5,713 every year, while hoping to spend $42,050 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: 42/43/15 Blend
60$882,000$882,000$882,000$882,000
61$977,857$931,111$917,440$1,014,407
62$1,032,857$931,995$903,433$1,041,581
63$1,092,059$931,512$887,548$1,066,399
64$1,155,845$929,552$869,677$1,092,368
65$1,224,637$925,997$849,708$1,119,611
66$1,298,900$920,720$827,523$1,148,271
67$1,379,142$913,590$802,999$1,178,502
68$1,465,923$904,464$776,008$1,210,480
69$1,559,859$893,194$746,415$1,244,403
70$1,661,624$879,621$714,080$1,280,490
71$1,771,964$863,576$678,856$1,318,986
72$1,891,694$844,882$640,588$1,360,165
73$2,021,716$823,350$599,116$1,404,335
74$2,163,018$798,780$554,273$1,451,838
75$2,316,687$770,962$505,883$1,503,054
76$2,483,922$739,672$453,763$1,558,408
77$2,666,038$704,672$397,720$1,618,374
78$2,864,487$665,714$337,557$1,683,478
79$3,080,863$622,532$273,063$1,754,309
80$3,316,921$574,846$204,021$1,831,518
81$3,574,594$522,361$130,202$1,915,831
82$3,856,009$464,763$51,371$2,008,054
83$4,163,508$401,722$0$2,109,086
84$4,499,668$332,890$0$2,225,163
85$4,867,329$257,896$0$2,361,263
86$5,269,615$176,351$0$2,510,427
87$5,709,968$87,844$0$2,674,062
88$6,192,176$0$0$2,853,724
89$6,720,413$0$0$3,054,952
90$7,299,274$0$0$3,321,123
91$7,933,820$0$0$3,613,013
92$8,629,626$0$0$3,933,198
93$9,392,830$0$0$4,284,520
94$10,230,195$0$0$4,670,106
95$11,149,169$0$0$5,093,402
96$12,157,957$0$0$5,558,203
97$13,265,595$0$0$6,068,689
98$14,482,040$0$0$6,629,467
99$15,818,258$0$0$7,245,610
100$17,286,330$0$0$7,922,707