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%15.1%
1 years$73,661$73,004$72,364$71,739$71,129$69,636
2 years$36,466$35,786$35,128$34,490$33,871$32,374
3 years$24,069$23,387$22,730$22,098$21,489$20,035
4 years$17,872$17,192$16,542$15,920$15,326$13,925
5 years$14,154$13,479$12,837$12,228$11,651$10,308
6 years$11,677$11,006$10,374$9,779$9,219$7,935
7 years$9,908$9,243$8,621$8,040$7,497$6,273
8 years$8,582$7,923$7,311$6,745$6,220$5,054
9 years$7,551$6,898$6,297$5,745$5,238$4,131
10 years$6,727$6,081$5,490$4,952$4,463$3,413
11 years$6,053$5,413$4,833$4,310$3,838$2,844
12 years$5,492$4,859$4,290$3,780$3,326$2,386
13 years$5,018$4,391$3,832$3,337$2,901$2,013
14 years$4,611$3,991$3,443$2,963$2,543$1,706
15 years$4,259$3,646$3,109$2,642$2,239$1,452
16 years$3,952$3,345$2,819$2,366$1,979$1,239
17 years$3,681$3,081$2,565$2,126$1,754$1,060
18 years$3,440$2,847$2,341$1,916$1,560$909
19 years$3,225$2,638$2,143$1,731$1,390$781
20 years$3,032$2,452$1,967$1,568$1,242$672
21 years$2,857$2,284$1,809$1,423$1,111$579
22 years$2,698$2,132$1,668$1,294$996$499
23 years$2,554$1,994$1,540$1,178$894$431
24 years$2,421$1,868$1,424$1,075$804$372
25 years$2,300$1,753$1,319$981$723$322
26 years$2,188$1,648$1,223$897$651$279
27 years$2,084$1,551$1,136$821$587$241
28 years$1,988$1,461$1,056$752$530$209
29 years$1,899$1,378$983$690$479$181
30 years$1,816$1,302$915$633$432$157
31 years$1,738$1,231$853$582$391$136
32 years$1,666$1,164$796$535$354$118
33 years$1,597$1,103$743$492$320$102
34 years$1,534$1,045$695$452$290$89
35 years$1,473$991$649$416$262$77
36 years$1,417$941$607$383$238$67
37 years$1,363$894$569$353$216$58
38 years$1,313$849$532$326$195$50
39 years$1,265$807$499$300$177$44
40 years$1,220$768$468$277$161$38
41 years$1,176$731$438$255$146$33
42 years$1,136$696$411$236$132$29
43 years$1,097$664$386$218$120$25
44 years$1,060$633$362$201$109$22
45 years$1,025$603$340$186$99$19
46 years$991$575$319$171$90$16
47 years$959$549$300$158$82$14
48 years$928$524$282$146$74$12
49 years$899$501$265$135$67$11
50 years$871$478$249$125$61$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $892,000, adding $3,895 every year, while hoping to spend $37,407 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: 48/45/7 Blend
60$892,000$892,000$892,000$892,000
61$987,002$939,726$925,900$1,032,371
62$1,047,875$945,971$917,117$1,070,098
63$1,113,704$951,270$906,785$1,106,765
64$1,184,954$955,534$894,815$1,145,695
65$1,262,138$958,674$881,110$1,187,110
66$1,345,818$960,591$865,569$1,231,256
67$1,436,615$961,183$848,089$1,278,402
68$1,535,208$960,340$828,559$1,328,851
69$1,642,348$957,946$806,865$1,382,935
70$1,758,859$953,876$782,886$1,441,023
71$1,885,647$948,000$756,497$1,503,524
72$2,023,710$940,180$727,567$1,570,891
73$2,174,146$930,266$695,957$1,643,624
74$2,338,163$918,103$661,526$1,722,279
75$2,517,091$903,525$624,122$1,807,471
76$2,712,392$886,356$583,589$1,899,878
77$2,925,680$866,411$539,762$2,000,255
78$3,158,726$843,492$492,471$2,109,433
79$3,413,484$817,391$441,537$2,228,335
80$3,692,103$787,886$386,772$2,357,980
81$3,996,950$754,745$327,981$2,499,495
82$4,330,631$717,720$264,961$2,654,128
83$4,696,016$676,550$197,498$2,823,258
84$5,096,267$630,957$125,371$3,008,411
85$5,534,862$580,650$48,347$3,211,272
86$6,015,635$525,320$0$3,433,707
87$6,542,809$464,639$0$3,680,304
88$7,121,031$398,262$0$3,954,830
89$7,755,425$325,825$0$4,256,208
90$8,451,630$246,942$0$4,587,239
91$9,215,860$161,206$0$4,951,017
92$10,054,960$68,188$0$5,350,961
93$10,976,469$0$0$5,790,844
94$11,988,693$0$0$6,290,960
95$13,100,781$0$0$6,877,618
96$14,322,813$0$0$7,522,380
97$15,665,895$0$0$8,231,121
98$17,142,258$0$0$9,010,310
99$18,765,381$0$0$9,867,074
100$20,550,113$0$0$10,809,265