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%14.6%
1 years$73,908$73,250$72,608$71,981$71,369$70,014
2 years$36,588$35,907$35,246$34,606$33,985$32,625
3 years$24,150$23,466$22,807$22,172$21,561$20,239
4 years$17,932$17,250$16,597$15,974$15,378$14,103
5 years$14,202$13,524$12,880$12,270$11,690$10,467
6 years$11,716$11,043$10,409$9,812$9,250$8,079
7 years$9,942$9,274$8,650$8,067$7,523$6,405
8 years$8,611$7,950$7,336$6,767$6,241$5,176
9 years$7,577$6,922$6,318$5,764$5,256$4,243
10 years$6,750$6,101$5,509$4,969$4,478$3,516
11 years$6,074$5,431$4,850$4,324$3,851$2,940
12 years$5,511$4,875$4,304$3,793$3,337$2,474
13 years$5,035$4,406$3,845$3,349$2,910$2,095
14 years$4,627$4,004$3,455$2,973$2,551$1,781
15 years$4,274$3,658$3,119$2,651$2,246$1,521
16 years$3,965$3,356$2,828$2,374$1,985$1,302
17 years$3,693$3,091$2,574$2,133$1,760$1,118
18 years$3,452$2,856$2,349$1,922$1,565$962
19 years$3,236$2,647$2,151$1,737$1,395$830
20 years$3,042$2,460$1,974$1,573$1,246$717
21 years$2,867$2,291$1,816$1,428$1,115$620
22 years$2,707$2,139$1,673$1,298$1,000$537
23 years$2,562$2,000$1,545$1,182$897$465
24 years$2,429$1,874$1,429$1,078$806$404
25 years$2,307$1,759$1,323$985$726$350
26 years$2,195$1,653$1,227$900$654$304
27 years$2,091$1,556$1,140$824$589$265
28 years$1,995$1,466$1,060$755$532$230
29 years$1,905$1,383$986$692$480$200
30 years$1,822$1,306$918$635$434$174
31 years$1,744$1,235$856$584$392$152
32 years$1,671$1,168$799$536$355$132
33 years$1,603$1,106$746$493$321$115
34 years$1,539$1,049$697$454$291$100
35 years$1,478$995$652$418$263$87
36 years$1,421$944$610$385$239$76
37 years$1,368$897$571$354$216$66
38 years$1,317$852$534$327$196$58
39 years$1,269$810$501$301$178$51
40 years$1,224$771$469$278$161$44
41 years$1,180$734$440$256$146$38
42 years$1,139$699$413$237$133$34
43 years$1,100$666$387$218$120$29
44 years$1,063$635$363$202$109$25
45 years$1,028$605$341$186$99$22
46 years$994$577$321$172$90$19
47 years$962$551$301$159$82$17
48 years$931$526$283$147$74$15
49 years$902$502$266$136$68$13
50 years$874$480$250$125$61$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $895,000, adding $3,116 every year, while hoping to spend $44,344 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: 53/42/5 Blend
60$895,000$895,000$895,000$895,000
61$989,504$942,069$928,197$1,040,706
62$1,043,252$941,049$912,110$1,074,663
63$1,100,996$938,492$893,997$1,106,440
64$1,163,096$934,278$873,745$1,139,924
65$1,229,950$928,275$851,234$1,175,283
66$1,301,991$920,347$826,336$1,212,705
67$1,379,699$910,348$798,923$1,252,397
68$1,463,596$898,124$768,855$1,294,591
69$1,554,262$883,510$735,990$1,339,545
70$1,652,328$866,334$700,178$1,387,544
71$1,758,493$846,411$661,261$1,438,908
72$1,873,521$823,548$619,075$1,493,988
73$1,998,256$797,537$573,450$1,553,178
74$2,133,623$768,162$524,206$1,616,913
75$2,280,641$735,190$471,155$1,685,677
76$2,440,432$698,379$414,104$1,760,008
77$2,614,226$657,470$352,846$1,840,500
78$2,803,381$612,190$287,170$1,927,815
79$3,009,388$562,250$216,853$2,022,685
80$3,233,890$507,344$141,662$2,125,925
81$3,478,694$447,152$61,355$2,238,433
82$3,745,789$381,330$0$2,361,210
83$4,037,364$309,520$0$2,496,661
84$4,355,829$231,340$0$2,648,289
85$4,703,836$146,389$0$2,814,191
86$5,084,308$54,242$0$2,995,886
87$5,500,460$0$0$3,195,055
88$5,955,831$0$0$3,434,608
89$6,454,322$0$0$3,724,372
90$7,000,225$0$0$4,041,784
91$7,598,268$0$0$4,389,604
92$8,253,659$0$0$4,770,872
93$8,972,131$0$0$5,188,935
94$9,760,000$0$0$5,647,481
95$10,624,222$0$0$6,150,571
96$11,572,459$0$0$6,702,678
97$12,613,150$0$0$7,308,729
98$13,755,590$0$0$7,974,153
99$15,010,021$0$0$8,704,928
100$16,387,721$0$0$9,507,640