Can I retire at age 61 with 884,000?

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 $884,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$73,000$72,350$71,715$71,096$70,491$69,495
2 years$36,139$35,466$34,813$34,181$33,567$32,566
3 years$23,853$23,177$22,526$21,900$21,296$20,321
4 years$17,712$17,038$16,393$15,778$15,189$14,246
5 years$14,028$13,358$12,722$12,119$11,546$10,639
6 years$11,572$10,908$10,281$9,691$9,136$8,266
7 years$9,819$9,160$8,544$7,968$7,430$6,597
8 years$8,505$7,852$7,246$6,684$6,164$5,368
9 years$7,484$6,837$6,241$5,693$5,191$4,432
10 years$6,667$6,026$5,441$4,908$4,423$3,700
11 years$5,999$5,365$4,790$4,271$3,804$3,117
12 years$5,443$4,815$4,251$3,746$3,296$2,644
13 years$4,973$4,351$3,798$3,308$2,875$2,256
14 years$4,570$3,955$3,413$2,936$2,520$1,934
15 years$4,221$3,613$3,081$2,618$2,219$1,664
16 years$3,916$3,315$2,793$2,345$1,961$1,437
17 years$3,648$3,053$2,542$2,107$1,739$1,245
18 years$3,409$2,821$2,320$1,898$1,546$1,081
19 years$3,196$2,615$2,124$1,715$1,378$940
20 years$3,004$2,430$1,950$1,554$1,231$819
21 years$2,831$2,263$1,793$1,410$1,101$715
22 years$2,674$2,113$1,653$1,282$987$625
23 years$2,531$1,976$1,526$1,168$886$547
24 years$2,400$1,851$1,411$1,065$797$479
25 years$2,279$1,737$1,307$973$717$420
26 years$2,168$1,633$1,212$889$646$368
27 years$2,065$1,537$1,126$814$582$323
28 years$1,970$1,448$1,047$746$525$284
29 years$1,882$1,366$974$684$474$249
30 years$1,799$1,290$907$628$429$219
31 years$1,723$1,219$846$576$387$193
32 years$1,651$1,154$789$530$350$170
33 years$1,583$1,093$737$487$317$149
34 years$1,520$1,036$688$448$287$131
35 years$1,460$982$644$413$260$116
36 years$1,404$932$602$380$236$102
37 years$1,351$886$563$350$214$90
38 years$1,301$842$528$323$194$79
39 years$1,253$800$494$298$176$70
40 years$1,209$761$463$274$159$61
41 years$1,166$725$435$253$144$54
42 years$1,125$690$408$234$131$48
43 years$1,087$658$382$216$119$42
44 years$1,050$627$359$199$108$37
45 years$1,015$598$337$184$98$33
46 years$982$570$317$170$89$29
47 years$950$544$297$157$81$25
48 years$920$520$280$145$73$22
49 years$891$496$263$134$67$20
50 years$863$474$247$124$61$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $884,000, adding $4,757 every year, while hoping to spend $50,995 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: 72/10/18 Blend
60$884,000$884,000$884,000$884,000
61$979,075$932,223$918,521$1,045,086
62$1,024,682$923,643$895,033$1,080,995
63$1,073,232$912,935$869,049$1,113,704
64$1,124,972$899,938$840,432$1,148,217
65$1,180,170$884,486$809,038$1,184,706
66$1,239,123$866,401$774,716$1,223,358
67$1,302,153$845,495$737,309$1,264,380
68$1,369,618$821,569$696,653$1,308,005
69$1,441,905$794,412$652,577$1,354,485
70$1,519,441$763,800$604,901$1,404,105
71$1,602,696$729,499$553,437$1,457,175
72$1,692,184$691,257$497,990$1,514,042
73$1,788,468$648,810$438,354$1,575,088
74$1,892,170$601,880$374,317$1,640,736
75$2,003,969$550,170$305,655$1,711,454
76$2,124,615$493,368$232,134$1,787,759
77$2,254,927$431,145$153,513$1,870,224
78$2,395,810$363,152$69,536$1,959,481
79$2,548,255$289,019$0$2,056,230
80$2,713,355$208,358$0$2,165,101
81$2,892,307$120,758$0$2,297,597
82$3,086,432$25,785$0$2,441,347
83$3,297,180$0$0$2,597,455
84$3,526,145$0$0$2,775,611
85$3,775,084$0$0$2,972,430
86$4,045,926$0$0$3,186,607
87$4,340,797$0$0$3,419,826
88$4,662,033$0$0$3,673,941
89$5,012,207$0$0$3,950,992
90$5,394,150$0$0$4,253,226
91$5,810,979$0$0$4,583,113
92$6,266,122$0$0$4,943,374
93$6,763,357$0$0$5,337,005
94$7,306,840$0$0$5,767,303
95$7,901,146$0$0$6,237,897
96$8,551,316$0$0$6,752,785
97$9,262,897$0$0$7,316,369
98$10,041,999$0$0$7,933,494
99$10,895,349$0$0$8,609,498
100$11,830,357$0$0$9,350,258