Can I retire at age 61 with 885,000?

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 $885,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$73,082$72,431$71,796$71,176$70,571$67,771
2 years$36,179$35,506$34,853$34,219$33,605$30,819
3 years$23,880$23,203$22,552$21,925$21,321$18,636
4 years$17,732$17,057$16,412$15,796$15,206$12,643
5 years$14,043$13,373$12,736$12,132$11,559$9,125
6 years$11,585$10,920$10,293$9,702$9,147$6,842
7 years$9,830$9,171$8,553$7,977$7,439$5,263
8 years$8,515$7,861$7,254$6,692$6,171$4,123
9 years$7,492$6,844$6,248$5,700$5,197$3,272
10 years$6,674$6,033$5,447$4,913$4,428$2,624
11 years$6,006$5,371$4,795$4,276$3,808$2,120
12 years$5,449$4,820$4,256$3,751$3,300$1,723
13 years$4,978$4,356$3,802$3,311$2,878$1,407
14 years$4,575$3,960$3,416$2,939$2,523$1,154
15 years$4,226$3,617$3,085$2,621$2,221$949
16 years$3,921$3,319$2,797$2,347$1,963$782
17 years$3,652$3,057$2,545$2,109$1,741$646
18 years$3,413$2,824$2,323$1,901$1,548$535
19 years$3,200$2,618$2,127$1,717$1,379$443
20 years$3,008$2,432$1,952$1,555$1,232$367
21 years$2,834$2,266$1,795$1,412$1,103$305
22 years$2,677$2,115$1,655$1,283$988$253
23 years$2,534$1,978$1,528$1,169$887$211
24 years$2,402$1,853$1,413$1,066$797$175
25 years$2,282$1,739$1,309$974$718$146
26 years$2,170$1,635$1,214$890$646$121
27 years$2,068$1,538$1,127$815$583$101
28 years$1,972$1,450$1,048$747$526$84
29 years$1,884$1,368$975$685$475$70
30 years$1,801$1,291$908$628$429$59
31 years$1,724$1,221$847$577$388$49
32 years$1,652$1,155$790$530$351$41
33 years$1,585$1,094$738$488$318$34
34 years$1,521$1,037$689$449$287$28
35 years$1,462$983$644$413$260$24
36 years$1,406$933$603$380$236$20
37 years$1,353$887$564$351$214$16
38 years$1,302$843$528$323$194$14
39 years$1,255$801$495$298$176$11
40 years$1,210$762$464$275$159$9
41 years$1,167$726$435$253$145$8
42 years$1,127$691$408$234$131$7
43 years$1,088$658$383$216$119$6
44 years$1,052$628$359$199$108$5
45 years$1,017$598$337$184$98$4
46 years$983$571$317$170$89$3
47 years$951$545$298$157$81$3
48 years$921$520$280$145$73$2
49 years$892$497$263$134$67$2
50 years$864$474$247$124$61$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $885,000, adding $3,705 every year, while hoping to spend $51,038 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: 51/22/27 Blend
60$885,000$885,000$885,000$885,000
61$979,092$932,187$918,469$1,021,419
62$1,024,655$923,560$894,934$1,042,644
63$1,073,155$912,800$868,900$1,060,277
64$1,124,838$899,748$840,229$1,078,438
65$1,179,972$884,236$808,777$1,097,199
66$1,238,853$866,087$774,395$1,116,644
67$1,301,803$845,113$736,924$1,136,865
68$1,369,176$821,113$696,200$1,157,972
69$1,441,362$793,876$652,052$1,180,084
70$1,518,784$763,180$604,300$1,203,341
71$1,601,912$728,787$552,755$1,227,897
72$1,691,257$690,448$497,223$1,253,929
73$1,787,382$647,897$437,497$1,281,635
74$1,890,907$600,856$373,365$1,311,239
75$2,002,509$549,027$304,602$1,342,991
76$2,122,935$492,099$230,976$1,377,174
77$2,253,003$429,741$152,242$1,414,103
78$2,393,614$361,604$68,148$1,454,134
79$2,545,758$287,318$0$1,497,664
80$2,710,523$206,494$0$1,551,359
81$2,889,104$118,720$0$1,630,849
82$3,082,817$23,561$0$1,717,120
83$3,293,108$0$0$1,810,878
84$3,521,568$0$0$1,932,136
85$3,769,946$0$0$2,070,248
86$4,040,168$0$0$2,220,589
87$4,334,352$0$0$2,384,349
88$4,654,829$0$0$2,562,836
89$5,004,162$0$0$2,757,491
90$5,385,176$0$0$2,969,897
91$5,800,977$0$0$3,201,800
92$6,254,984$0$0$3,455,120
93$6,750,963$0$0$3,731,970
94$7,293,058$0$0$4,034,679
95$7,885,832$0$0$4,365,808
96$8,534,308$0$0$4,728,180
97$9,244,019$0$0$5,124,901
98$10,021,055$0$0$5,559,393
99$10,872,125$0$0$6,035,423
100$11,804,615$0$0$6,557,141