Can I retire at age 61 with 890,000?

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 $890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$73,495$72,841$72,202$71,579$70,970$68,836
2 years$36,384$35,706$35,050$34,413$33,795$31,663
3 years$24,015$23,334$22,679$22,049$21,441$19,378
4 years$17,832$17,153$16,505$15,885$15,292$13,314
5 years$14,123$13,448$12,808$12,201$11,625$9,736
6 years$11,651$10,982$10,351$9,757$9,198$7,402
7 years$9,886$9,222$8,602$8,022$7,481$5,776
8 years$8,563$7,905$7,295$6,729$6,206$4,591
9 years$7,534$6,883$6,283$5,732$5,226$3,701
10 years$6,712$6,067$5,478$4,941$4,453$3,014
11 years$6,040$5,401$4,823$4,300$3,830$2,475
12 years$5,480$4,848$4,280$3,772$3,319$2,046
13 years$5,006$4,381$3,824$3,330$2,894$1,699
14 years$4,601$3,982$3,436$2,956$2,537$1,418
15 years$4,250$3,638$3,102$2,636$2,234$1,187
16 years$3,943$3,338$2,812$2,360$1,974$996
17 years$3,673$3,074$2,559$2,121$1,750$838
18 years$3,432$2,840$2,336$1,911$1,556$707
19 years$3,218$2,632$2,139$1,727$1,387$597
20 years$3,025$2,446$1,963$1,564$1,239$505
21 years$2,851$2,278$1,805$1,420$1,109$427
22 years$2,692$2,127$1,664$1,291$994$362
23 years$2,548$1,989$1,536$1,175$892$307
24 years$2,416$1,864$1,421$1,072$802$260
25 years$2,295$1,749$1,316$979$722$221
26 years$2,183$1,644$1,221$895$650$188
27 years$2,079$1,547$1,133$819$586$160
28 years$1,984$1,458$1,054$751$529$136
29 years$1,895$1,375$980$688$477$115
30 years$1,812$1,299$913$632$431$98
31 years$1,734$1,228$851$580$390$83
32 years$1,662$1,162$794$533$353$71
33 years$1,594$1,100$742$490$319$60
34 years$1,530$1,043$693$451$289$51
35 years$1,470$989$648$415$262$44
36 years$1,414$939$606$383$237$37
37 years$1,360$892$567$352$215$32
38 years$1,310$847$531$325$195$27
39 years$1,262$806$498$300$177$23
40 years$1,217$767$467$276$160$20
41 years$1,174$730$437$255$145$17
42 years$1,133$695$410$235$132$14
43 years$1,094$662$385$217$120$12
44 years$1,057$631$361$201$109$10
45 years$1,022$602$339$185$99$9
46 years$989$574$319$171$90$7
47 years$957$548$299$158$81$6
48 years$926$523$281$146$74$5
49 years$897$499$265$135$67$5
50 years$869$477$249$125$61$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $890,000, adding $4,734 every year, while hoping to spend $46,801 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: 41/50/9 Blend
60$890,000$890,000$890,000$890,000
61$985,663$938,493$924,698$1,023,254
62$1,036,405$934,683$905,880$1,046,223
63$1,090,754$929,118$884,862$1,066,014
64$1,149,028$921,663$861,523$1,086,374
65$1,211,578$912,173$835,732$1,107,375
66$1,278,786$900,496$807,356$1,129,096
67$1,351,073$886,472$776,254$1,151,631
68$1,428,902$869,929$742,278$1,175,086
69$1,512,780$850,686$705,275$1,199,580
70$1,603,265$828,551$665,083$1,225,250
71$1,700,970$803,321$621,534$1,252,250
72$1,806,566$774,781$574,453$1,280,756
73$1,920,794$742,704$523,656$1,310,965
74$2,044,467$706,848$468,950$1,343,102
75$2,178,480$666,960$410,137$1,377,417
76$2,323,813$622,770$347,005$1,414,195
77$2,481,550$573,994$279,337$1,453,754
78$2,652,878$520,329$206,905$1,496,452
79$2,839,105$461,459$129,470$1,542,691
80$3,041,669$397,046$46,783$1,592,923
81$3,262,154$326,736$0$1,647,651
82$3,502,301$250,153$0$1,711,422
83$3,764,026$166,901$0$1,785,940
84$4,049,438$76,560$0$1,867,440
85$4,360,859$0$0$1,956,740
86$4,700,844$0$0$2,066,474
87$5,072,206$0$0$2,232,452
88$5,478,040$0$0$2,413,949
89$5,921,757$0$0$2,612,503
90$6,407,108$0$0$2,829,808
91$6,938,228$0$0$3,067,730
92$7,519,665$0$0$3,328,321
93$8,156,433$0$0$3,613,845
94$8,854,048$0$0$3,926,793
95$9,618,588$0$0$4,269,907
96$10,456,746$0$0$4,646,211
97$11,375,893$0$0$5,059,032
98$12,384,149$0$0$5,512,037
99$13,490,457$0$0$6,009,262
100$14,704,667$0$0$6,555,158