Can I retire at age 61 with 895,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%17.9%
1 years$73,908$73,250$72,608$71,981$71,369$69,084
2 years$36,588$35,907$35,246$34,606$33,985$31,704
3 years$24,150$23,466$22,807$22,172$21,561$19,356
4 years$17,932$17,250$16,597$15,974$15,378$13,265
5 years$14,202$13,524$12,880$12,270$11,690$9,675
6 years$11,716$11,043$10,409$9,812$9,250$7,335
7 years$9,942$9,274$8,650$8,067$7,523$5,708
8 years$8,611$7,950$7,336$6,767$6,241$4,524
9 years$7,577$6,922$6,318$5,764$5,256$3,635
10 years$6,750$6,101$5,509$4,969$4,478$2,952
11 years$6,074$5,431$4,850$4,324$3,851$2,416
12 years$5,511$4,875$4,304$3,793$3,337$1,990
13 years$5,035$4,406$3,845$3,349$2,910$1,648
14 years$4,627$4,004$3,455$2,973$2,551$1,370
15 years$4,274$3,658$3,119$2,651$2,246$1,143
16 years$3,965$3,356$2,828$2,374$1,985$956
17 years$3,693$3,091$2,574$2,133$1,760$801
18 years$3,452$2,856$2,349$1,922$1,565$673
19 years$3,236$2,647$2,151$1,737$1,395$566
20 years$3,042$2,460$1,974$1,573$1,246$477
21 years$2,867$2,291$1,816$1,428$1,115$402
22 years$2,707$2,139$1,673$1,298$1,000$339
23 years$2,562$2,000$1,545$1,182$897$287
24 years$2,429$1,874$1,429$1,078$806$242
25 years$2,307$1,759$1,323$985$726$205
26 years$2,195$1,653$1,227$900$654$173
27 years$2,091$1,556$1,140$824$589$147
28 years$1,995$1,466$1,060$755$532$124
29 years$1,905$1,383$986$692$480$105
30 years$1,822$1,306$918$635$434$89
31 years$1,744$1,235$856$584$392$75
32 years$1,671$1,168$799$536$355$64
33 years$1,603$1,106$746$493$321$54
34 years$1,539$1,049$697$454$291$46
35 years$1,478$995$652$418$263$39
36 years$1,421$944$610$385$239$33
37 years$1,368$897$571$354$216$28
38 years$1,317$852$534$327$196$24
39 years$1,269$810$501$301$178$20
40 years$1,224$771$469$278$161$17
41 years$1,180$734$440$256$146$14
42 years$1,139$699$413$237$133$12
43 years$1,100$666$387$218$120$10
44 years$1,063$635$363$202$109$9
45 years$1,028$605$341$186$99$7
46 years$994$577$321$172$90$6
47 years$962$551$301$159$82$5
48 years$931$526$283$147$74$5
49 years$902$502$266$136$68$4
50 years$874$480$250$125$61$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $895,000, adding $2,627 every year, while hoping to spend $48,730 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: 69/23/8 Blend
60$895,000$895,000$895,000$895,000
61$989,000$941,565$927,692$1,055,660
62$1,038,029$935,853$906,922$1,094,447
63$1,090,427$928,228$883,822$1,130,677
64$1,146,484$918,545$858,264$1,168,994
65$1,206,522$906,650$830,112$1,209,595
66$1,270,890$892,379$799,224$1,252,694
67$1,339,976$875,561$765,452$1,298,531
68$1,414,201$856,011$728,643$1,347,370
69$1,494,029$833,535$688,632$1,399,506
70$1,579,971$807,929$645,252$1,455,261
71$1,672,586$778,976$598,326$1,514,994
72$1,772,489$746,444$547,669$1,579,103
73$1,880,354$710,092$493,087$1,648,026
74$1,996,925$669,661$434,380$1,722,249
75$2,123,016$624,879$371,337$1,802,309
76$2,259,524$575,458$303,737$1,888,800
77$2,407,435$521,095$231,352$1,982,380
78$2,567,832$461,467$153,940$2,083,776
79$2,741,907$396,235$71,254$2,193,790
80$2,930,970$325,040$0$2,313,311
81$3,136,464$247,502$0$2,444,773
82$3,359,973$163,220$0$2,594,396
83$3,603,244$71,771$0$2,757,315
84$3,868,196$0$0$2,934,884
85$4,156,942$0$0$3,135,502
86$4,471,807$0$0$3,374,120
87$4,815,351$0$0$3,634,520
88$5,190,389$0$0$3,918,841
89$5,600,023$0$0$4,229,443
90$6,047,667$0$0$4,568,918
91$6,537,078$0$0$4,940,124
92$7,072,394$0$0$5,346,205
93$7,658,172$0$0$5,790,627
94$8,299,427$0$0$6,277,201
95$9,001,684$0$0$6,810,127
96$9,771,027$0$0$7,394,031
97$10,614,154$0$0$8,034,004
98$11,538,444$0$0$8,735,657
99$12,552,024$0$0$9,505,168
100$13,663,844$0$0$10,349,341