Can I retire at age 61 with 896,000?

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 $896,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$73,991$73,332$72,689$72,061$71,448$69,524
2 years$36,629$35,947$35,286$34,645$34,023$32,098
3 years$24,177$23,492$22,832$22,197$21,586$19,720
4 years$17,952$17,269$16,616$15,992$15,395$13,603
5 years$14,218$13,539$12,895$12,283$11,703$9,990
6 years$11,729$11,056$10,421$9,823$9,260$7,628
7 years$9,953$9,285$8,660$8,076$7,531$5,979
8 years$8,621$7,959$7,344$6,775$6,248$4,776
9 years$7,585$6,929$6,326$5,771$5,261$3,868
10 years$6,757$6,108$5,515$4,974$4,483$3,166
11 years$6,080$5,437$4,855$4,329$3,856$2,613
12 years$5,517$4,880$4,309$3,797$3,341$2,171
13 years$5,040$4,410$3,850$3,352$2,914$1,814
14 years$4,632$4,009$3,459$2,976$2,554$1,521
15 years$4,279$3,662$3,123$2,654$2,249$1,281
16 years$3,970$3,360$2,831$2,376$1,987$1,081
17 years$3,697$3,094$2,576$2,135$1,762$915
18 years$3,456$2,859$2,352$1,924$1,567$776
19 years$3,239$2,650$2,153$1,739$1,397$659
20 years$3,045$2,463$1,976$1,575$1,247$561
21 years$2,870$2,294$1,818$1,429$1,116$478
22 years$2,710$2,141$1,675$1,299$1,001$407
23 years$2,565$2,003$1,547$1,183$898$348
24 years$2,432$1,876$1,430$1,079$807$297
25 years$2,310$1,761$1,325$986$726$254
26 years$2,197$1,655$1,229$901$654$217
27 years$2,093$1,557$1,141$825$590$185
28 years$1,997$1,468$1,061$756$532$159
29 years$1,907$1,384$987$693$481$136
30 years$1,824$1,308$919$636$434$116
31 years$1,746$1,236$857$584$393$100
32 years$1,673$1,170$800$537$355$85
33 years$1,605$1,108$747$494$321$73
34 years$1,540$1,050$698$454$291$63
35 years$1,480$996$652$418$264$54
36 years$1,423$945$610$385$239$46
37 years$1,369$898$571$355$216$39
38 years$1,319$853$535$327$196$34
39 years$1,271$811$501$302$178$29
40 years$1,225$772$470$278$161$25
41 years$1,182$735$440$257$146$21
42 years$1,141$700$413$237$133$18
43 years$1,102$667$388$219$121$16
44 years$1,065$635$364$202$109$13
45 years$1,029$606$342$186$99$12
46 years$995$578$321$172$90$10
47 years$963$552$301$159$82$8
48 years$932$527$283$147$74$7
49 years$903$503$266$136$68$6
50 years$875$480$250$126$61$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $896,000, adding $5,713 every year, while hoping to spend $40,504 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: 51/30/19 Blend
60$896,000$896,000$896,000$896,000
61$993,285$945,797$931,909$1,038,452
62$1,051,504$949,045$920,032$1,073,443
63$1,114,304$951,095$906,400$1,106,805
64$1,182,109$951,845$890,910$1,142,209
65$1,255,386$951,187$873,458$1,179,864
66$1,334,648$949,007$853,930$1,219,999
67$1,420,457$945,184$832,212$1,262,870
68$1,513,433$939,587$808,181$1,308,760
69$1,614,258$932,082$781,710$1,357,986
70$1,723,681$922,522$752,665$1,410,895
71$1,842,524$910,754$720,908$1,467,875
72$1,971,696$896,615$686,292$1,529,356
73$2,112,191$879,931$648,665$1,595,813
74$2,265,108$860,521$607,869$1,667,776
75$2,431,652$838,190$563,736$1,745,827
76$2,613,152$812,733$516,093$1,830,616
77$2,811,070$783,933$464,758$1,922,859
78$3,027,014$751,560$409,542$2,023,351
79$3,262,754$715,372$350,246$2,132,973
80$3,520,240$675,110$286,664$2,252,697
81$3,801,617$630,502$218,580$2,383,603
82$4,109,247$581,262$145,768$2,526,882
83$4,445,731$527,085$67,992$2,683,856
84$4,813,933$467,649$0$2,855,983
85$5,217,005$402,616$0$3,047,922
86$5,658,421$331,625$0$3,273,324
87$6,142,003$254,298$0$3,520,420
88$6,671,963$170,234$0$3,791,450
89$7,252,939$79,011$0$4,088,887
90$7,890,037$0$0$4,415,461
91$8,588,885$0$0$4,780,727
92$9,355,678$0$0$5,210,219
93$10,197,242$0$0$5,681,687
94$11,121,095$0$0$6,199,356
95$12,135,519$0$0$6,767,878
96$13,249,636$0$0$7,392,380
97$14,473,496$0$0$8,078,507
98$15,818,170$0$0$8,832,480
99$17,295,856$0$0$9,661,153
100$18,919,988$0$0$10,572,075