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%13.3%
1 years$73,826$73,168$72,527$71,900$71,289$70,311
2 years$36,547$35,867$35,207$34,567$33,947$32,963
3 years$24,123$23,439$22,781$22,148$21,537$20,579
4 years$17,912$17,230$16,579$15,956$15,361$14,434
5 years$14,186$13,509$12,866$12,256$11,677$10,786
6 years$11,703$11,031$10,398$9,801$9,240$8,384
7 years$9,930$9,264$8,640$8,058$7,514$6,695
8 years$8,601$7,941$7,328$6,760$6,234$5,451
9 years$7,568$6,914$6,311$5,758$5,250$4,503
10 years$6,742$6,094$5,502$4,963$4,473$3,762
11 years$6,067$5,425$4,844$4,320$3,847$3,171
12 years$5,504$4,869$4,299$3,789$3,334$2,691
13 years$5,029$4,401$3,841$3,345$2,907$2,298
14 years$4,622$4,000$3,451$2,969$2,548$1,971
15 years$4,269$3,654$3,116$2,648$2,244$1,698
16 years$3,961$3,353$2,825$2,371$1,983$1,467
17 years$3,689$3,088$2,571$2,130$1,758$1,272
18 years$3,448$2,853$2,347$1,920$1,563$1,105
19 years$3,232$2,644$2,148$1,735$1,393$962
20 years$3,038$2,457$1,972$1,571$1,245$839
21 years$2,863$2,289$1,813$1,426$1,114$732
22 years$2,704$2,136$1,671$1,297$998$641
23 years$2,559$1,998$1,543$1,181$896$561
24 years$2,427$1,872$1,427$1,077$806$492
25 years$2,305$1,757$1,322$984$725$431
26 years$2,193$1,651$1,226$899$653$379
27 years$2,089$1,554$1,138$823$589$333
28 years$1,993$1,464$1,058$754$531$292
29 years$1,903$1,381$985$692$480$257
30 years$1,820$1,305$917$635$433$226
31 years$1,742$1,233$855$583$392$199
32 years$1,669$1,167$798$536$354$175
33 years$1,601$1,105$745$493$321$154
34 years$1,537$1,047$696$453$290$136
35 years$1,477$993$651$417$263$120
36 years$1,420$943$609$384$238$106
37 years$1,366$896$570$354$216$93
38 years$1,316$851$534$326$196$82
39 years$1,268$809$500$301$178$72
40 years$1,222$770$469$278$161$64
41 years$1,179$733$439$256$146$56
42 years$1,138$698$412$236$133$50
43 years$1,099$665$387$218$120$44
44 years$1,062$634$363$201$109$39
45 years$1,027$605$341$186$99$34
46 years$993$577$320$172$90$30
47 years$961$550$301$159$82$27
48 years$930$525$283$147$74$23
49 years$901$502$266$136$67$21
50 years$873$479$250$125$61$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $894,000, adding $2,365 every year, while hoping to spend $53,254 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: 42/32/26 Blend
60$894,000$894,000$894,000$894,000
61$987,627$940,245$926,388$1,021,501
62$1,031,704$929,656$900,761$1,035,433
63$1,078,491$916,762$872,489$1,045,283
64$1,128,209$901,396$841,430$1,054,915
65$1,181,100$883,377$807,431$1,064,338
66$1,237,426$862,517$770,334$1,073,569
67$1,297,477$838,614$729,974$1,082,630
68$1,361,569$811,456$686,178$1,091,549
69$1,430,049$780,817$638,764$1,100,364
70$1,503,296$746,458$587,545$1,109,118
71$1,581,726$708,129$532,322$1,117,867
72$1,665,798$665,563$472,890$1,126,679
73$1,756,010$618,476$409,033$1,135,631
74$1,852,914$566,572$340,526$1,144,819
75$1,957,112$509,535$267,135$1,154,353
76$2,069,267$447,032$188,614$1,164,362
77$2,190,107$378,712$104,707$1,174,997
78$2,320,430$304,201$15,147$1,186,429
79$2,461,115$223,108$0$1,198,860
80$2,613,125$135,017$0$1,234,830
81$2,777,522$39,490$0$1,278,224
82$2,955,469$0$0$1,325,220
83$3,148,248$0$0$1,398,757
84$3,357,267$0$0$1,493,661
85$3,584,075$0$0$1,596,740
86$3,830,375$0$0$1,708,781
87$4,098,040$0$0$1,830,649
88$4,389,132$0$0$1,963,296
89$4,705,917$0$0$2,107,769
90$5,050,891$0$0$2,265,222
91$5,426,799$0$0$2,436,922
92$5,836,662$0$0$2,624,267
93$6,283,805$0$0$2,828,791
94$6,771,889$0$0$3,052,189
95$7,304,942$0$0$3,296,320
96$7,887,400$0$0$3,563,237
97$8,524,145$0$0$3,855,196
98$9,220,553$0$0$4,174,683
99$9,982,544$0$0$4,524,434
100$10,816,635$0$0$4,907,465