Can I retire at age 61 with 894,000?

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 $894,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$73,826$73,168$72,527$71,900$71,289$69,565
2 years$36,547$35,867$35,207$34,567$33,947$32,221
3 years$24,123$23,439$22,781$22,148$21,537$19,863
4 years$17,912$17,230$16,579$15,956$15,361$13,750
5 years$14,186$13,509$12,866$12,256$11,677$10,135
6 years$11,703$11,031$10,398$9,801$9,240$7,768
7 years$9,930$9,264$8,640$8,058$7,514$6,114
8 years$8,601$7,941$7,328$6,760$6,234$4,903
9 years$7,568$6,914$6,311$5,758$5,250$3,988
10 years$6,742$6,094$5,502$4,963$4,473$3,279
11 years$6,067$5,425$4,844$4,320$3,847$2,718
12 years$5,504$4,869$4,299$3,789$3,334$2,269
13 years$5,029$4,401$3,841$3,345$2,907$1,904
14 years$4,622$4,000$3,451$2,969$2,548$1,605
15 years$4,269$3,654$3,116$2,648$2,244$1,358
16 years$3,961$3,353$2,825$2,371$1,983$1,152
17 years$3,689$3,088$2,571$2,130$1,758$980
18 years$3,448$2,853$2,347$1,920$1,563$835
19 years$3,232$2,644$2,148$1,735$1,393$713
20 years$3,038$2,457$1,972$1,571$1,245$610
21 years$2,863$2,289$1,813$1,426$1,114$522
22 years$2,704$2,136$1,671$1,297$998$448
23 years$2,559$1,998$1,543$1,181$896$384
24 years$2,427$1,872$1,427$1,077$806$330
25 years$2,305$1,757$1,322$984$725$284
26 years$2,193$1,651$1,226$899$653$244
27 years$2,089$1,554$1,138$823$589$210
28 years$1,993$1,464$1,058$754$531$181
29 years$1,903$1,381$985$692$480$155
30 years$1,820$1,305$917$635$433$134
31 years$1,742$1,233$855$583$392$115
32 years$1,669$1,167$798$536$354$99
33 years$1,601$1,105$745$493$321$86
34 years$1,537$1,047$696$453$290$74
35 years$1,477$993$651$417$263$64
36 years$1,420$943$609$384$238$55
37 years$1,366$896$570$354$216$47
38 years$1,316$851$534$326$196$41
39 years$1,268$809$500$301$178$35
40 years$1,222$770$469$278$161$30
41 years$1,179$733$439$256$146$26
42 years$1,138$698$412$236$133$23
43 years$1,099$665$387$218$120$19
44 years$1,062$634$363$201$109$17
45 years$1,027$605$341$186$99$14
46 years$993$577$320$172$90$12
47 years$961$550$301$159$82$11
48 years$930$525$283$147$74$9
49 years$901$502$266$136$67$8
50 years$873$479$250$125$61$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $894,000, adding $4,859 every year, while hoping to spend $27,352 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: 53/40/7 Blend
60$894,000$894,000$894,000$894,000
61$990,200$942,818$928,961$1,040,767
62$1,062,098$959,914$930,979$1,092,672
63$1,140,413$976,931$932,148$1,145,708
64$1,225,771$993,836$932,410$1,202,746
65$1,318,859$1,010,593$931,706$1,264,170
66$1,420,437$1,027,166$929,972$1,330,402
67$1,531,337$1,043,514$927,142$1,401,908
68$1,652,479$1,059,591$923,147$1,479,201
69$1,784,874$1,075,353$917,913$1,562,846
70$1,929,633$1,090,747$911,366$1,653,467
71$2,087,983$1,105,721$903,424$1,751,750
72$2,261,273$1,120,217$894,004$1,858,455
73$2,450,988$1,134,174$883,019$1,974,417
74$2,658,765$1,147,524$870,376$2,100,556
75$2,886,405$1,160,199$855,980$2,237,889
76$3,135,893$1,172,123$839,729$2,387,537
77$3,409,413$1,183,216$821,519$2,550,734
78$3,709,372$1,193,392$801,239$2,728,842
79$4,038,421$1,202,562$778,774$2,923,363
80$4,399,481$1,210,628$754,004$3,135,954
81$4,795,766$1,217,487$726,801$3,368,440
82$5,230,820$1,223,029$697,034$3,622,836
83$5,708,544$1,227,139$664,566$3,901,360
84$6,233,239$1,229,692$629,252$4,206,463
85$6,809,638$1,230,556$590,941$4,540,844
86$7,442,959$1,229,591$549,476$4,907,479
87$8,138,950$1,226,650$504,692$5,309,652
88$8,903,941$1,221,573$456,417$5,750,982
89$9,744,908$1,214,195$404,472$6,235,459
90$10,669,535$1,204,338$348,668$6,767,484
91$11,686,290$1,191,813$288,811$7,351,910
92$12,804,500$1,176,420$224,695$7,994,086
93$14,034,444$1,157,949$156,107$8,699,911
94$15,387,444$1,136,175$82,823$9,475,889
95$16,875,976$1,110,862$4,611$10,329,189
96$18,513,788$1,081,756$0$11,267,719
97$20,316,026$1,048,593$0$12,306,083
98$22,299,377$1,011,091$0$13,448,754
99$24,482,231$968,952$0$14,705,999
100$26,884,847$921,859$0$16,089,522