Can I retire at age 61 with 889,000?

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 $889,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$73,413$72,759$72,121$71,498$70,890$68,293
2 years$36,343$35,666$35,010$34,374$33,757$31,170
3 years$23,988$23,308$22,654$22,024$21,417$18,921
4 years$17,812$17,134$16,486$15,867$15,275$12,888
5 years$14,107$13,433$12,794$12,187$11,612$9,341
6 years$11,638$10,969$10,339$9,746$9,188$7,035
7 years$9,875$9,212$8,592$8,013$7,472$5,437
8 years$8,553$7,896$7,287$6,722$6,199$4,279
9 years$7,526$6,875$6,276$5,726$5,220$3,413
10 years$6,705$6,060$5,472$4,935$4,448$2,750
11 years$6,033$5,395$4,817$4,295$3,825$2,234
12 years$5,474$4,842$4,275$3,768$3,315$1,825
13 years$5,001$4,376$3,820$3,326$2,891$1,499
14 years$4,596$3,978$3,432$2,953$2,534$1,236
15 years$4,245$3,634$3,099$2,633$2,231$1,022
16 years$3,939$3,334$2,809$2,358$1,972$848
17 years$3,668$3,070$2,556$2,118$1,748$704
18 years$3,429$2,837$2,334$1,909$1,555$586
19 years$3,214$2,629$2,136$1,725$1,386$489
20 years$3,021$2,443$1,961$1,562$1,238$408
21 years$2,847$2,276$1,803$1,418$1,108$341
22 years$2,689$2,124$1,662$1,289$993$285
23 years$2,545$1,987$1,535$1,174$891$238
24 years$2,413$1,862$1,419$1,071$801$200
25 years$2,292$1,747$1,315$978$721$167
26 years$2,180$1,642$1,219$894$649$140
27 years$2,077$1,545$1,132$819$585$117
28 years$1,981$1,456$1,052$750$528$98
29 years$1,892$1,374$979$688$477$83
30 years$1,810$1,297$912$631$431$69
31 years$1,732$1,226$850$580$390$58
32 years$1,660$1,160$793$533$352$49
33 years$1,592$1,099$741$490$319$41
34 years$1,528$1,042$692$451$289$34
35 years$1,468$988$647$415$262$29
36 years$1,412$938$605$382$237$24
37 years$1,359$891$567$352$215$20
38 years$1,308$846$531$325$195$17
39 years$1,261$805$497$299$177$14
40 years$1,215$766$466$276$160$12
41 years$1,173$729$437$255$145$10
42 years$1,132$694$410$235$132$8
43 years$1,093$661$385$217$120$7
44 years$1,056$630$361$200$109$6
45 years$1,021$601$339$185$99$5
46 years$988$573$318$171$90$4
47 years$956$547$299$158$81$4
48 years$925$522$281$146$74$3
49 years$896$499$264$135$67$2
50 years$868$477$248$125$61$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $889,000, adding $5,786 every year, while hoping to spend $49,254 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: 54/16/30 Blend
60$889,000$889,000$889,000$889,000
61$985,646$938,529$924,750$1,030,344
62$1,033,776$932,111$903,323$1,055,525
63$1,085,165$923,728$879,528$1,077,440
64$1,140,092$913,231$853,232$1,100,336
65$1,198,866$900,464$824,300$1,124,326
66$1,261,822$885,259$792,586$1,149,538
67$1,329,332$867,440$757,941$1,176,115
68$1,401,800$846,821$720,208$1,204,220
69$1,479,671$823,202$679,223$1,234,033
70$1,563,433$796,376$634,813$1,265,756
71$1,653,624$766,119$586,800$1,299,617
72$1,750,833$732,197$534,996$1,335,868
73$1,855,705$694,362$479,206$1,374,791
74$1,968,952$652,351$419,225$1,416,704
75$2,091,356$605,887$354,840$1,461,957
76$2,223,774$554,675$285,827$1,510,944
77$2,367,151$498,406$211,953$1,564,102
78$2,522,523$436,751$132,977$1,621,918
79$2,691,032$369,363$48,643$1,684,934
80$2,873,931$295,876$0$1,753,753
81$3,072,602$215,904$0$1,842,284
82$3,288,561$129,037$0$1,955,512
83$3,523,479$34,844$0$2,078,770
84$3,779,192$0$0$2,213,073
85$4,057,721$0$0$2,371,364
86$4,361,292$0$0$2,550,648
87$4,692,352$0$0$2,746,248
88$5,053,596$0$0$2,959,766
89$5,447,989$0$0$3,192,964
90$5,878,797$0$0$3,447,785
91$6,349,613$0$0$3,726,365
92$6,864,394$0$0$4,031,058
93$7,427,498$0$0$4,364,455
94$8,043,720$0$0$4,729,408
95$8,718,343$0$0$5,129,060
96$9,457,185$0$0$5,566,869
97$10,266,649$0$0$6,046,647
98$11,153,791$0$0$6,572,588
99$12,126,380$0$0$7,149,315
100$13,192,972$0$0$7,781,917