Can I retire at age 61 with 893,000?

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 $893,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$73,743$73,086$72,445$71,820$71,209$69,040
2 years$36,506$35,827$35,168$34,529$33,909$31,743
3 years$24,096$23,413$22,756$22,123$21,513$19,417
4 years$17,892$17,211$16,560$15,938$15,343$13,334
5 years$14,170$13,494$12,852$12,242$11,664$9,746
6 years$11,690$11,019$10,386$9,790$9,229$7,405
7 years$9,919$9,253$8,631$8,049$7,506$5,775
8 years$8,592$7,932$7,320$6,752$6,227$4,588
9 years$7,560$6,906$6,304$5,751$5,244$3,696
10 years$6,735$6,087$5,496$4,958$4,468$3,008
11 years$6,060$5,419$4,839$4,315$3,843$2,469
12 years$5,498$4,864$4,294$3,785$3,330$2,039
13 years$5,023$4,396$3,837$3,341$2,904$1,693
14 years$4,616$3,996$3,447$2,966$2,545$1,411
15 years$4,264$3,650$3,112$2,645$2,241$1,180
16 years$3,956$3,349$2,822$2,368$1,981$990
17 years$3,685$3,084$2,568$2,128$1,756$833
18 years$3,444$2,850$2,344$1,918$1,562$701
19 years$3,229$2,641$2,146$1,733$1,392$592
20 years$3,035$2,454$1,969$1,569$1,243$500
21 years$2,860$2,286$1,811$1,424$1,113$423
22 years$2,701$2,134$1,670$1,295$997$358
23 years$2,557$1,996$1,542$1,179$895$303
24 years$2,424$1,870$1,426$1,076$805$257
25 years$2,302$1,755$1,320$982$724$218
26 years$2,190$1,649$1,225$898$652$185
27 years$2,086$1,552$1,137$822$588$157
28 years$1,990$1,463$1,057$753$531$134
29 years$1,901$1,380$984$691$479$114
30 years$1,818$1,303$916$634$433$96
31 years$1,740$1,232$854$582$391$82
32 years$1,667$1,166$797$535$354$70
33 years$1,599$1,104$744$492$320$59
34 years$1,535$1,046$695$453$290$50
35 years$1,475$992$650$417$263$43
36 years$1,418$942$608$384$238$36
37 years$1,365$895$569$354$216$31
38 years$1,314$850$533$326$196$26
39 years$1,266$808$499$301$177$22
40 years$1,221$769$468$277$161$19
41 years$1,178$732$439$256$146$16
42 years$1,137$697$412$236$132$14
43 years$1,098$664$386$218$120$12
44 years$1,061$633$363$201$109$10
45 years$1,026$604$341$186$99$9
46 years$992$576$320$172$90$7
47 years$960$550$300$159$82$6
48 years$929$525$282$147$74$5
49 years$900$501$265$135$67$4
50 years$872$479$250$125$61$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $893,000, adding $2,861 every year, while hoping to spend $32,217 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: 55/25/20 Blend
60$893,000$893,000$893,000$893,000
61$987,037$939,708$925,867$1,035,837
62$1,053,436$951,475$922,605$1,081,287
63$1,125,528$962,739$918,153$1,127,097
64$1,203,860$973,441$912,439$1,176,283
65$1,289,033$983,519$905,385$1,229,177
66$1,381,708$992,905$896,909$1,286,146
67$1,482,614$1,001,529$886,927$1,347,595
68$1,592,551$1,009,314$875,350$1,413,971
69$1,712,401$1,016,180$862,084$1,485,769
70$1,843,134$1,022,042$847,032$1,563,533
71$1,985,818$1,026,806$830,092$1,647,865
72$2,141,629$1,030,377$811,157$1,739,432
73$2,311,860$1,032,650$790,116$1,838,966
74$2,497,935$1,033,516$766,850$1,947,279
75$2,701,424$1,032,857$741,239$2,065,264
76$2,924,052$1,030,551$713,154$2,193,910
77$3,167,722$1,026,464$682,461$2,334,308
78$3,434,527$1,020,458$649,021$2,487,660
79$3,726,772$1,012,384$612,686$2,655,295
80$4,046,997$1,002,084$573,305$2,838,680
81$4,397,997$989,394$530,718$3,039,432
82$4,782,854$974,134$484,758$3,259,338
83$5,204,958$956,120$435,250$3,500,368
84$5,668,045$935,151$382,013$3,764,697
85$6,176,231$911,019$324,855$4,054,726
86$6,734,049$883,501$263,580$4,373,102
87$7,346,490$852,362$197,979$4,722,748
88$8,019,057$817,352$127,835$5,106,886
89$8,757,807$778,208$52,924$5,529,074
90$9,569,414$734,651$0$5,993,236
91$10,461,232$686,387$0$6,509,465
92$11,441,362$633,104$0$7,089,199
93$12,518,727$574,472$0$7,726,453
94$13,703,159$510,143$0$8,427,095
95$15,005,490$439,749$0$9,197,593
96$16,437,654$362,901$0$10,045,079
97$18,012,799$279,187$0$10,977,413
98$19,745,412$188,175$0$12,003,260
99$21,651,454$89,405$0$13,132,176
100$23,748,510$0$0$14,374,690