Can I retire at age 61 with 892,000?

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 $892,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$73,661$73,004$72,364$71,739$71,129$69,865
2 years$36,466$35,786$35,128$34,490$33,871$32,601
3 years$24,069$23,387$22,730$22,098$21,489$20,254
4 years$17,872$17,192$16,542$15,920$15,326$14,135
5 years$14,154$13,479$12,837$12,228$11,651$10,507
6 years$11,677$11,006$10,374$9,779$9,219$8,123
7 years$9,908$9,243$8,621$8,040$7,497$6,451
8 years$8,582$7,923$7,311$6,745$6,220$5,222
9 years$7,551$6,898$6,297$5,745$5,238$4,288
10 years$6,727$6,081$5,490$4,952$4,463$3,561
11 years$6,053$5,413$4,833$4,310$3,838$2,982
12 years$5,492$4,859$4,290$3,780$3,326$2,515
13 years$5,018$4,391$3,832$3,337$2,901$2,133
14 years$4,611$3,991$3,443$2,963$2,543$1,818
15 years$4,259$3,646$3,109$2,642$2,239$1,555
16 years$3,952$3,345$2,819$2,366$1,979$1,334
17 years$3,681$3,081$2,565$2,126$1,754$1,148
18 years$3,440$2,847$2,341$1,916$1,560$990
19 years$3,225$2,638$2,143$1,731$1,390$856
20 years$3,032$2,452$1,967$1,568$1,242$741
21 years$2,857$2,284$1,809$1,423$1,111$642
22 years$2,698$2,132$1,668$1,294$996$557
23 years$2,554$1,994$1,540$1,178$894$484
24 years$2,421$1,868$1,424$1,075$804$421
25 years$2,300$1,753$1,319$981$723$367
26 years$2,188$1,648$1,223$897$651$319
27 years$2,084$1,551$1,136$821$587$278
28 years$1,988$1,461$1,056$752$530$243
29 years$1,899$1,378$983$690$479$212
30 years$1,816$1,302$915$633$432$185
31 years$1,738$1,231$853$582$391$161
32 years$1,666$1,164$796$535$354$141
33 years$1,597$1,103$743$492$320$123
34 years$1,534$1,045$695$452$290$107
35 years$1,473$991$649$416$262$94
36 years$1,417$941$607$383$238$82
37 years$1,363$894$569$353$216$72
38 years$1,313$849$532$326$195$63
39 years$1,265$807$499$300$177$55
40 years$1,220$768$468$277$161$48
41 years$1,176$731$438$255$146$42
42 years$1,136$696$411$236$132$37
43 years$1,097$664$386$218$120$32
44 years$1,060$633$362$201$109$28
45 years$1,025$603$340$186$99$24
46 years$991$575$319$171$90$21
47 years$959$549$300$158$82$19
48 years$928$524$282$146$74$16
49 years$899$501$265$135$67$14
50 years$871$478$249$125$61$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $892,000, adding $6,470 every year, while hoping to spend $55,303 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: 73/6/21 Blend
60$892,000$892,000$892,000$892,000
61$989,658$942,382$928,556$1,056,419
62$1,031,761$929,717$900,820$1,089,005
63$1,076,305$914,577$870,302$1,117,419
64$1,123,481$896,784$836,850$1,147,151
65$1,173,496$876,147$800,305$1,178,323
66$1,226,579$852,464$760,502$1,211,068
67$1,282,978$825,523$717,266$1,245,537
68$1,342,965$795,097$670,418$1,281,894
69$1,406,839$760,948$619,768$1,320,324
70$1,474,924$722,822$565,118$1,361,030
71$1,547,579$680,453$506,262$1,404,237
72$1,625,194$633,557$442,984$1,450,197
73$1,708,198$581,836$375,058$1,499,187
74$1,797,062$524,973$302,250$1,551,514
75$1,892,301$462,635$224,314$1,607,518
76$1,994,480$394,469$140,993$1,667,577
77$2,104,220$320,101$52,019$1,732,109
78$2,222,202$239,137$0$1,801,576
79$2,349,173$151,162$0$1,886,111
80$2,485,956$55,736$0$1,989,724
81$2,633,451$0$0$2,101,444
82$2,792,649$0$0$2,225,180
83$2,964,639$0$0$2,362,865
84$3,150,617$0$0$2,511,781
85$3,351,897$0$0$2,672,986
86$3,569,926$0$0$2,847,642
87$3,806,291$0$0$3,037,026
88$4,062,742$0$0$3,242,543
89$4,341,198$0$0$3,465,738
90$4,643,776$0$0$3,708,312
91$4,972,798$0$0$3,972,134
92$5,330,826$0$0$4,259,262
93$5,720,672$0$0$4,571,958
94$6,145,434$0$0$4,912,715
95$6,608,522$0$0$5,284,273
96$7,113,687$0$0$5,689,649
97$7,665,058$0$0$6,132,165
98$8,267,181$0$0$6,615,475
99$8,925,059$0$0$7,143,605
100$9,644,202$0$0$7,720,985