Can I retire at age 61 with 895,000?

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 $895,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$73,908$73,250$72,608$71,981$71,369$70,215
2 years$36,588$35,907$35,246$34,606$33,985$32,826
3 years$24,150$23,466$22,807$22,172$21,561$20,433
4 years$17,932$17,250$16,597$15,974$15,378$14,289
5 years$14,202$13,524$12,880$12,270$11,690$10,643
6 years$11,716$11,043$10,409$9,812$9,250$8,247
7 years$9,942$9,274$8,650$8,067$7,523$6,564
8 years$8,611$7,950$7,336$6,767$6,241$5,326
9 years$7,577$6,922$6,318$5,764$5,256$4,384
10 years$6,750$6,101$5,509$4,969$4,478$3,649
11 years$6,074$5,431$4,850$4,324$3,851$3,064
12 years$5,511$4,875$4,304$3,793$3,337$2,591
13 years$5,035$4,406$3,845$3,349$2,910$2,203
14 years$4,627$4,004$3,455$2,973$2,551$1,882
15 years$4,274$3,658$3,119$2,651$2,246$1,615
16 years$3,965$3,356$2,828$2,374$1,985$1,390
17 years$3,693$3,091$2,574$2,133$1,760$1,199
18 years$3,452$2,856$2,349$1,922$1,565$1,037
19 years$3,236$2,647$2,151$1,737$1,395$899
20 years$3,042$2,460$1,974$1,573$1,246$781
21 years$2,867$2,291$1,816$1,428$1,115$679
22 years$2,707$2,139$1,673$1,298$1,000$591
23 years$2,562$2,000$1,545$1,182$897$515
24 years$2,429$1,874$1,429$1,078$806$449
25 years$2,307$1,759$1,323$985$726$392
26 years$2,195$1,653$1,227$900$654$343
27 years$2,091$1,556$1,140$824$589$300
28 years$1,995$1,466$1,060$755$532$262
29 years$1,905$1,383$986$692$480$229
30 years$1,822$1,306$918$635$434$201
31 years$1,744$1,235$856$584$392$176
32 years$1,671$1,168$799$536$355$154
33 years$1,603$1,106$746$493$321$135
34 years$1,539$1,049$697$454$291$118
35 years$1,478$995$652$418$263$104
36 years$1,421$944$610$385$239$91
37 years$1,368$897$571$354$216$80
38 years$1,317$852$534$327$196$70
39 years$1,269$810$501$301$178$61
40 years$1,224$771$469$278$161$54
41 years$1,180$734$440$256$146$47
42 years$1,139$699$413$237$133$41
43 years$1,100$666$387$218$120$36
44 years$1,063$635$363$202$109$32
45 years$1,028$605$341$186$99$28
46 years$994$577$321$172$90$25
47 years$962$551$301$159$82$22
48 years$931$526$283$147$74$19
49 years$902$502$266$136$68$17
50 years$874$480$250$125$61$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $895,000, adding $3,369 every year, while hoping to spend $43,140 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: 51/31/18 Blend
60$895,000$895,000$895,000$895,000
61$989,765$942,330$928,458$1,035,171
62$1,044,821$942,604$913,660$1,067,065
63$1,104,046$941,445$896,921$1,096,966
64$1,167,820$938,738$878,130$1,128,542
65$1,236,562$934,359$857,171$1,161,966
66$1,310,728$928,180$833,924$1,197,431
67$1,390,822$920,061$808,260$1,235,151
68$1,477,398$909,855$780,048$1,275,365
69$1,571,062$897,408$749,150$1,318,338
70$1,672,484$882,555$715,420$1,364,366
71$1,782,398$865,121$678,707$1,413,776
72$1,901,612$844,921$638,853$1,466,934
73$2,031,014$821,759$595,692$1,524,244
74$2,171,581$795,429$549,052$1,586,155
75$2,324,388$765,711$498,751$1,653,168
76$2,490,618$732,373$444,601$1,725,837
77$2,671,572$695,170$386,405$1,804,775
78$2,868,680$653,841$323,958$1,890,665
79$3,083,518$608,112$257,043$1,984,264
80$3,317,820$557,693$185,438$2,086,409
81$3,573,494$502,276$108,906$2,198,030
82$3,852,641$441,538$27,205$2,320,157
83$4,157,571$375,135$0$2,453,929
84$4,490,832$302,705$0$2,612,131
85$4,855,225$223,865$0$2,790,967
86$5,253,835$138,211$0$2,986,807
87$5,690,059$45,317$0$3,201,422
88$6,167,639$0$0$3,436,768
89$6,690,694$0$0$3,713,859
90$7,263,760$0$0$4,034,470
91$7,891,833$0$0$4,385,951
92$8,580,415$0$0$4,771,391
93$9,335,567$0$0$5,194,196
94$10,163,963$0$0$5,658,114
95$11,072,954$0$0$6,167,277
96$12,070,638$0$0$6,726,233
97$13,165,937$0$0$7,339,995
98$14,368,674$0$0$8,014,083
99$15,689,675$0$0$8,754,577
100$17,140,863$0$0$9,568,179