Can I retire at age 61 with 885,000?

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 $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%15.2%
1 years$73,082$72,431$71,796$71,176$70,571$69,062
2 years$36,179$35,506$34,853$34,219$33,605$32,092
3 years$23,880$23,203$22,552$21,925$21,321$19,850
4 years$17,732$17,057$16,412$15,796$15,206$13,790
5 years$14,043$13,373$12,736$12,132$11,559$10,202
6 years$11,585$10,920$10,293$9,702$9,147$7,850
7 years$9,830$9,171$8,553$7,977$7,439$6,202
8 years$8,515$7,861$7,254$6,692$6,171$4,994
9 years$7,492$6,844$6,248$5,700$5,197$4,079
10 years$6,674$6,033$5,447$4,913$4,428$3,368
11 years$6,006$5,371$4,795$4,276$3,808$2,805
12 years$5,449$4,820$4,256$3,751$3,300$2,352
13 years$4,978$4,356$3,802$3,311$2,878$1,983
14 years$4,575$3,960$3,416$2,939$2,523$1,680
15 years$4,226$3,617$3,085$2,621$2,221$1,428
16 years$3,921$3,319$2,797$2,347$1,963$1,218
17 years$3,652$3,057$2,545$2,109$1,741$1,041
18 years$3,413$2,824$2,323$1,901$1,548$892
19 years$3,200$2,618$2,127$1,717$1,379$766
20 years$3,008$2,432$1,952$1,555$1,232$658
21 years$2,834$2,266$1,795$1,412$1,103$567
22 years$2,677$2,115$1,655$1,283$988$489
23 years$2,534$1,978$1,528$1,169$887$421
24 years$2,402$1,853$1,413$1,066$797$364
25 years$2,282$1,739$1,309$974$718$314
26 years$2,170$1,635$1,214$890$646$272
27 years$2,068$1,538$1,127$815$583$235
28 years$1,972$1,450$1,048$747$526$204
29 years$1,884$1,368$975$685$475$176
30 years$1,801$1,291$908$628$429$153
31 years$1,724$1,221$847$577$388$132
32 years$1,652$1,155$790$530$351$115
33 years$1,585$1,094$738$488$318$99
34 years$1,521$1,037$689$449$287$86
35 years$1,462$983$644$413$260$75
36 years$1,406$933$603$380$236$65
37 years$1,353$887$564$351$214$56
38 years$1,302$843$528$323$194$49
39 years$1,255$801$495$298$176$42
40 years$1,210$762$464$275$159$37
41 years$1,167$726$435$253$145$32
42 years$1,127$691$408$234$131$28
43 years$1,088$658$383$216$119$24
44 years$1,052$628$359$199$108$21
45 years$1,017$598$337$184$98$18
46 years$983$571$317$170$89$16
47 years$951$545$298$157$81$14
48 years$921$520$280$145$73$12
49 years$892$497$263$134$67$10
50 years$864$474$247$124$61$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $885,000, adding $4,818 every year, while hoping to spend $55,143 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: 72/21/7 Blend
60$885,000$885,000$885,000$885,000
61$980,240$933,335$919,617$1,049,468
62$1,021,552$920,396$891,753$1,082,859
63$1,065,231$904,976$861,107$1,112,060
64$1,111,458$886,894$827,527$1,142,490
65$1,160,434$865,959$790,857$1,174,254
66$1,212,378$841,970$750,929$1,207,470
67$1,267,527$814,713$707,572$1,242,266
68$1,326,143$783,962$660,604$1,278,788
69$1,388,512$749,479$609,837$1,317,197
70$1,454,946$711,009$555,073$1,357,670
71$1,525,788$668,286$496,105$1,400,405
72$1,601,413$621,026$432,719$1,445,622
73$1,682,231$568,931$364,689$1,493,566
74$1,768,693$511,683$291,781$1,544,507
75$1,861,293$448,948$213,748$1,598,745
76$1,960,572$380,374$130,336$1,656,614
77$2,067,124$305,586$41,276$1,718,485
78$2,181,602$224,191$0$1,784,767
79$2,304,721$135,772$0$1,859,932
80$2,437,267$39,889$0$1,944,020
81$2,580,103$0$0$2,034,528
82$2,734,176$0$0$2,146,870
83$2,900,528$0$0$2,278,150
84$3,080,304$0$0$2,420,059
85$3,274,760$0$0$2,573,593
86$3,485,278$0$0$2,739,848
87$3,713,380$0$0$2,920,029
88$3,960,734$0$0$3,115,461
89$4,229,179$0$0$3,327,601
90$4,520,736$0$0$3,558,052
91$4,837,628$0$0$3,808,577
92$5,182,299$0$0$4,081,114
93$5,557,441$0$0$4,377,799
94$5,966,013$0$0$4,700,978
95$6,411,274$0$0$5,053,235
96$6,896,808$0$0$5,437,415
97$7,426,561$0$0$5,856,647
98$8,004,878$0$0$6,314,376
99$8,636,538$0$0$6,814,394
100$9,326,804$0$0$7,360,877