Can I retire at age 61 with 892,000?

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 $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%13%
1 years$73,661$73,004$72,364$71,739$71,129$70,241
2 years$36,466$35,786$35,128$34,490$33,871$32,977
3 years$24,069$23,387$22,730$22,098$21,489$20,617
4 years$17,872$17,192$16,542$15,920$15,326$14,483
5 years$14,154$13,479$12,837$12,228$11,651$10,839
6 years$11,677$11,006$10,374$9,779$9,219$8,440
7 years$9,908$9,243$8,621$8,040$7,497$6,751
8 years$8,582$7,923$7,311$6,745$6,220$5,506
9 years$7,551$6,898$6,297$5,745$5,238$4,556
10 years$6,727$6,081$5,490$4,952$4,463$3,813
11 years$6,053$5,413$4,833$4,310$3,838$3,220
12 years$5,492$4,859$4,290$3,780$3,326$2,738
13 years$5,018$4,391$3,832$3,337$2,901$2,343
14 years$4,611$3,991$3,443$2,963$2,543$2,014
15 years$4,259$3,646$3,109$2,642$2,239$1,738
16 years$3,952$3,345$2,819$2,366$1,979$1,505
17 years$3,681$3,081$2,565$2,126$1,754$1,307
18 years$3,440$2,847$2,341$1,916$1,560$1,138
19 years$3,225$2,638$2,143$1,731$1,390$993
20 years$3,032$2,452$1,967$1,568$1,242$868
21 years$2,857$2,284$1,809$1,423$1,111$760
22 years$2,698$2,132$1,668$1,294$996$666
23 years$2,554$1,994$1,540$1,178$894$584
24 years$2,421$1,868$1,424$1,075$804$513
25 years$2,300$1,753$1,319$981$723$451
26 years$2,188$1,648$1,223$897$651$397
27 years$2,084$1,551$1,136$821$587$350
28 years$1,988$1,461$1,056$752$530$308
29 years$1,899$1,378$983$690$479$272
30 years$1,816$1,302$915$633$432$240
31 years$1,738$1,231$853$582$391$211
32 years$1,666$1,164$796$535$354$187
33 years$1,597$1,103$743$492$320$165
34 years$1,534$1,045$695$452$290$145
35 years$1,473$991$649$416$262$128
36 years$1,417$941$607$383$238$114
37 years$1,363$894$569$353$216$100
38 years$1,313$849$532$326$195$89
39 years$1,265$807$499$300$177$78
40 years$1,220$768$468$277$161$69
41 years$1,176$731$438$255$146$61
42 years$1,136$696$411$236$132$54
43 years$1,097$664$386$218$120$48
44 years$1,060$633$362$201$109$42
45 years$1,025$603$340$186$99$37
46 years$991$575$319$171$90$33
47 years$959$549$300$158$82$29
48 years$928$524$282$146$74$26
49 years$899$501$265$135$67$23
50 years$871$478$249$125$61$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $892,000, adding $5,823 every year, while hoping to spend $25,649 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: 73/5/22 Blend
60$892,000$892,000$892,000$892,000
61$988,990$941,714$927,888$1,055,464
62$1,062,577$960,568$931,682$1,119,319
63$1,142,810$979,486$934,744$1,185,624
64$1,230,340$998,444$937,021$1,257,625
65$1,325,883$1,017,416$938,460$1,335,885
66$1,430,228$1,036,375$939,003$1,421,024
67$1,544,244$1,055,289$938,592$1,513,726
68$1,668,885$1,074,127$937,163$1,614,742
69$1,805,204$1,092,852$934,651$1,724,903
70$1,954,359$1,111,426$930,986$1,845,124
71$2,117,627$1,129,809$926,097$1,976,412
72$2,296,411$1,147,956$919,908$2,119,877
73$2,492,259$1,165,820$912,339$2,276,744
74$2,706,874$1,183,350$903,307$2,448,361
75$2,942,133$1,200,492$892,726$2,636,216
76$3,200,102$1,217,187$880,503$2,841,946
77$3,483,057$1,233,374$866,544$3,067,359
78$3,793,504$1,248,984$850,749$3,314,444
79$4,134,205$1,263,948$833,012$3,585,396
80$4,508,201$1,278,188$813,225$3,882,631
81$4,918,842$1,291,624$791,273$4,208,815
82$5,369,819$1,304,169$767,036$4,566,886
83$5,865,197$1,315,730$740,388$4,960,080
84$6,409,455$1,326,208$711,198$5,391,965
85$7,007,526$1,335,499$679,330$5,866,475
86$7,664,846$1,343,491$644,641$6,387,942
87$8,387,404$1,350,065$606,979$6,961,145
88$9,181,795$1,355,095$566,189$7,591,348
89$10,055,289$1,358,446$522,108$8,284,354
90$11,015,894$1,359,974$474,563$9,046,559
91$12,072,431$1,359,530$423,377$9,885,013
92$13,234,623$1,356,950$368,364$10,807,483
93$14,513,178$1,352,064$309,328$11,822,534
94$15,919,897$1,344,690$246,065$12,939,602
95$17,467,782$1,334,636$178,364$14,169,089
96$19,171,160$1,321,697$106,003$15,522,458
97$21,045,814$1,305,656$28,751$17,012,345
98$23,109,138$1,286,284$0$18,652,673
99$25,380,296$1,263,337$0$20,471,393
100$27,880,403$1,236,558$0$22,480,837