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%14.9%
1 years$73,743$73,086$72,445$71,820$71,209$69,771
2 years$36,506$35,827$35,168$34,529$33,909$32,467
3 years$24,096$23,413$22,756$22,123$21,513$20,112
4 years$17,892$17,211$16,560$15,938$15,343$13,993
5 years$14,170$13,494$12,852$12,242$11,664$10,369
6 years$11,690$11,019$10,386$9,790$9,229$7,991
7 years$9,919$9,253$8,631$8,049$7,506$6,324
8 years$8,592$7,932$7,320$6,752$6,227$5,102
9 years$7,560$6,906$6,304$5,751$5,244$4,174
10 years$6,735$6,087$5,496$4,958$4,468$3,453
11 years$6,060$5,419$4,839$4,315$3,843$2,881
12 years$5,498$4,864$4,294$3,785$3,330$2,421
13 years$5,023$4,396$3,837$3,341$2,904$2,045
14 years$4,616$3,996$3,447$2,966$2,545$1,736
15 years$4,264$3,650$3,112$2,645$2,241$1,478
16 years$3,956$3,349$2,822$2,368$1,981$1,263
17 years$3,685$3,084$2,568$2,128$1,756$1,083
18 years$3,444$2,850$2,344$1,918$1,562$930
19 years$3,229$2,641$2,146$1,733$1,392$800
20 years$3,035$2,454$1,969$1,569$1,243$689
21 years$2,860$2,286$1,811$1,424$1,113$595
22 years$2,701$2,134$1,670$1,295$997$514
23 years$2,557$1,996$1,542$1,179$895$444
24 years$2,424$1,870$1,426$1,076$805$385
25 years$2,302$1,755$1,320$982$724$333
26 years$2,190$1,649$1,225$898$652$289
27 years$2,086$1,552$1,137$822$588$250
28 years$1,990$1,463$1,057$753$531$217
29 years$1,901$1,380$984$691$479$189
30 years$1,818$1,303$916$634$433$164
31 years$1,740$1,232$854$582$391$142
32 years$1,667$1,166$797$535$354$124
33 years$1,599$1,104$744$492$320$107
34 years$1,535$1,046$695$453$290$93
35 years$1,475$992$650$417$263$81
36 years$1,418$942$608$384$238$71
37 years$1,365$895$569$354$216$61
38 years$1,314$850$533$326$196$53
39 years$1,266$808$499$301$177$46
40 years$1,221$769$468$277$161$40
41 years$1,178$732$439$256$146$35
42 years$1,137$697$412$236$132$31
43 years$1,098$664$386$218$120$27
44 years$1,061$633$363$201$109$23
45 years$1,026$604$341$186$99$20
46 years$992$576$320$172$90$17
47 years$960$550$300$159$82$15
48 years$929$525$282$147$74$13
49 years$900$501$265$135$67$12
50 years$872$479$250$125$61$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $893,000, adding $4,500 every year, while hoping to spend $55,129 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: 75/12/13 Blend
60$893,000$893,000$893,000$893,000
61$988,728$941,399$927,557$1,059,906
62$1,030,921$928,870$899,974$1,094,986
63$1,075,571$913,881$869,618$1,126,084
64$1,122,868$896,250$836,340$1,158,650
65$1,173,025$875,790$799,981$1,192,814
66$1,226,269$852,300$760,376$1,228,719
67$1,282,852$825,567$717,353$1,266,521
68$1,343,050$795,366$670,731$1,306,395
69$1,407,162$761,460$620,321$1,348,536
70$1,475,517$723,596$565,927$1,393,157
71$1,548,477$681,510$507,343$1,440,495
72$1,626,437$634,918$444,353$1,490,812
73$1,709,828$583,524$376,734$1,544,399
74$1,799,127$527,013$304,251$1,601,578
75$1,894,853$465,052$226,659$1,662,704
76$1,997,578$397,290$143,702$1,728,170
77$2,107,929$323,355$55,114$1,798,413
78$2,226,593$242,855$0$1,873,915
79$2,354,327$155,375$0$1,960,677
80$2,491,958$60,479$0$2,062,335
81$2,640,400$0$0$2,171,931
82$2,800,651$0$0$2,295,814
83$2,973,812$0$0$2,438,336
84$3,161,092$0$0$2,592,508
85$3,363,819$0$0$2,759,427
86$3,583,453$0$0$2,940,301
87$3,821,600$0$0$3,136,455
88$4,080,026$0$0$3,349,348
89$4,360,674$0$0$3,580,585
90$4,665,679$0$0$3,831,931
91$4,997,391$0$0$4,105,327
92$5,358,396$0$0$4,402,910
93$5,751,538$0$0$4,727,029
94$6,179,949$0$0$5,080,272
95$6,647,073$0$0$5,465,485
96$7,156,701$0$0$5,885,801
97$7,713,008$0$0$6,344,668
98$8,320,587$0$0$6,845,883
99$8,984,496$0$0$7,393,625
100$9,710,303$0$0$7,992,494