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%11.6%
1 years$73,743$73,086$72,445$71,820$71,209$70,731
2 years$36,506$35,827$35,168$34,529$33,909$33,427
3 years$24,096$23,413$22,756$22,123$21,513$21,042
4 years$17,892$17,211$16,560$15,938$15,343$14,886
5 years$14,170$13,494$12,852$12,242$11,664$11,223
6 years$11,690$11,019$10,386$9,790$9,229$8,804
7 years$9,919$9,253$8,631$8,049$7,506$7,098
8 years$8,592$7,932$7,320$6,752$6,227$5,835
9 years$7,560$6,906$6,304$5,751$5,244$4,869
10 years$6,735$6,087$5,496$4,958$4,468$4,109
11 years$6,060$5,419$4,839$4,315$3,843$3,500
12 years$5,498$4,864$4,294$3,785$3,330$3,003
13 years$5,023$4,396$3,837$3,341$2,904$2,592
14 years$4,616$3,996$3,447$2,966$2,545$2,249
15 years$4,264$3,650$3,112$2,645$2,241$1,959
16 years$3,956$3,349$2,822$2,368$1,981$1,713
17 years$3,685$3,084$2,568$2,128$1,756$1,502
18 years$3,444$2,850$2,344$1,918$1,562$1,321
19 years$3,229$2,641$2,146$1,733$1,392$1,164
20 years$3,035$2,454$1,969$1,569$1,243$1,028
21 years$2,860$2,286$1,811$1,424$1,113$909
22 years$2,701$2,134$1,670$1,295$997$806
23 years$2,557$1,996$1,542$1,179$895$715
24 years$2,424$1,870$1,426$1,076$805$635
25 years$2,302$1,755$1,320$982$724$564
26 years$2,190$1,649$1,225$898$652$502
27 years$2,086$1,552$1,137$822$588$447
28 years$1,990$1,463$1,057$753$531$398
29 years$1,901$1,380$984$691$479$355
30 years$1,818$1,303$916$634$433$317
31 years$1,740$1,232$854$582$391$283
32 years$1,667$1,166$797$535$354$252
33 years$1,599$1,104$744$492$320$225
34 years$1,535$1,046$695$453$290$201
35 years$1,475$992$650$417$263$180
36 years$1,418$942$608$384$238$161
37 years$1,365$895$569$354$216$144
38 years$1,314$850$533$326$196$129
39 years$1,266$808$499$301$177$115
40 years$1,221$769$468$277$161$103
41 years$1,178$732$439$256$146$92
42 years$1,137$697$412$236$132$83
43 years$1,098$664$386$218$120$74
44 years$1,061$633$363$201$109$66
45 years$1,026$604$341$186$99$59
46 years$992$576$320$172$90$53
47 years$960$550$300$159$82$47
48 years$929$525$282$147$74$43
49 years$900$501$265$135$67$38
50 years$872$479$250$125$61$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $893,000, adding $3,483 every year, while hoping to spend $20,747 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: 35/36/29 Blend
60$893,000$893,000$893,000$893,000
61$987,679$940,350$926,508$1,013,523
62$1,066,347$964,352$935,472$1,057,235
63$1,152,345$988,835$944,040$1,102,262
64$1,246,397$1,013,801$952,178$1,150,450
65$1,349,302$1,039,250$959,849$1,202,097
66$1,461,941$1,065,183$967,014$1,257,531
67$1,585,281$1,091,600$973,631$1,317,112
68$1,720,390$1,118,499$979,658$1,381,239
69$1,868,443$1,145,878$985,050$1,450,352
70$2,030,733$1,173,735$989,758$1,524,932
71$2,208,686$1,202,066$993,733$1,605,515
72$2,403,871$1,230,866$996,921$1,692,687
73$2,618,016$1,260,129$999,269$1,787,097
74$2,853,026$1,289,848$1,000,717$1,889,459
75$3,110,998$1,320,014$1,001,204$2,000,561
76$3,394,243$1,350,617$1,000,667$2,121,270
77$3,705,305$1,381,647$999,039$2,252,545
78$4,046,988$1,413,090$996,249$2,395,440
79$4,422,381$1,444,931$992,224$2,551,119
80$4,834,886$1,477,155$986,885$2,720,865
81$5,288,251$1,509,742$980,152$2,906,093
82$5,786,606$1,542,673$971,941$3,108,362
83$6,334,500$1,575,924$962,161$3,329,393
84$6,936,945$1,609,471$950,720$3,571,080
85$7,599,465$1,643,286$937,520$3,835,514
86$8,328,142$1,677,339$922,459$4,125,000
87$9,129,681$1,711,597$905,430$4,442,078
88$10,011,466$1,746,023$886,320$4,789,552
89$10,981,637$1,780,579$865,012$5,170,508
90$12,049,158$1,815,222$841,384$5,588,353
91$13,223,909$1,849,905$815,308$6,046,842
92$14,516,776$1,884,579$786,649$6,550,113
93$15,939,752$1,919,188$755,267$7,102,730
94$17,506,053$1,953,674$721,014$7,709,724
95$19,230,241$1,987,975$683,739$8,376,643
96$21,128,361$2,022,021$643,279$9,109,600
97$23,218,093$2,055,739$599,468$9,915,339
98$25,518,919$2,089,050$552,131$10,801,289
99$28,052,305$2,121,871$501,084$11,775,645
100$30,841,906$2,154,108$446,136$12,847,438