Can I retire at age 61 with 897,000?

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 $897,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$74,073$73,414$72,770$72,142$71,528$71,227
2 years$36,670$35,987$35,325$34,683$34,061$33,757
3 years$24,204$23,518$22,858$22,222$21,610$21,312
4 years$17,972$17,288$16,635$16,010$15,412$15,123
5 years$14,234$13,554$12,909$12,297$11,716$11,437
6 years$11,743$11,068$10,432$9,834$9,271$9,001
7 years$9,964$9,295$8,669$8,085$7,539$7,280
8 years$8,630$7,967$7,352$6,782$6,255$6,006
9 years$7,594$6,937$6,333$5,777$5,267$5,029
10 years$6,765$6,115$5,521$4,980$4,488$4,259
11 years$6,087$5,444$4,861$4,334$3,860$3,641
12 years$5,523$4,886$4,314$3,802$3,345$3,136
13 years$5,046$4,415$3,854$3,356$2,917$2,717
14 years$4,637$4,013$3,463$2,979$2,557$2,367
15 years$4,283$3,666$3,126$2,657$2,251$2,070
16 years$3,974$3,364$2,835$2,379$1,990$1,817
17 years$3,701$3,098$2,579$2,138$1,764$1,601
18 years$3,459$2,863$2,355$1,926$1,569$1,413
19 years$3,243$2,653$2,156$1,741$1,398$1,251
20 years$3,049$2,465$1,978$1,576$1,249$1,109
21 years$2,873$2,296$1,820$1,431$1,118$986
22 years$2,713$2,144$1,677$1,301$1,002$877
23 years$2,568$2,005$1,548$1,185$899$781
24 years$2,435$1,878$1,432$1,081$808$697
25 years$2,313$1,763$1,326$987$727$623
26 years$2,200$1,657$1,230$902$655$556
27 years$2,096$1,559$1,142$826$591$498
28 years$1,999$1,469$1,062$757$533$446
29 years$1,909$1,386$988$694$481$399
30 years$1,826$1,309$920$637$435$358
31 years$1,748$1,237$858$585$393$321
32 years$1,675$1,171$801$538$356$288
33 years$1,606$1,109$748$494$322$259
34 years$1,542$1,051$698$455$291$232
35 years$1,482$997$653$419$264$209
36 years$1,425$946$611$386$239$187
37 years$1,371$899$572$355$217$168
38 years$1,320$854$535$327$196$151
39 years$1,272$812$502$302$178$136
40 years$1,226$773$470$278$162$122
41 years$1,183$735$441$257$147$110
42 years$1,142$700$414$237$133$99
43 years$1,103$667$388$219$121$89
44 years$1,066$636$364$202$110$80
45 years$1,030$607$342$187$99$72
46 years$997$579$321$172$90$65
47 years$964$552$302$159$82$58
48 years$933$527$284$147$74$53
49 years$904$503$267$136$68$47
50 years$876$481$251$126$61$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $897,000, adding $3,556 every year, while hoping to spend $33,225 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: 65/18/17 Blend
60$897,000$897,000$897,000$897,000
61$992,162$944,621$930,718$1,052,275
62$1,058,011$955,556$926,545$1,103,928
63$1,129,464$965,914$921,120$1,156,202
64$1,207,056$975,630$914,364$1,212,522
65$1,291,377$984,638$906,197$1,273,283
66$1,383,078$992,865$896,534$1,338,922
67$1,482,871$1,000,234$885,287$1,409,921
68$1,591,542$1,006,665$872,363$1,486,811
69$1,709,957$1,012,069$857,665$1,570,178
70$1,839,066$1,016,354$841,090$1,660,668
71$1,979,918$1,019,422$822,534$1,758,994
72$2,133,664$1,021,168$801,883$1,865,943
73$2,301,574$1,021,481$779,022$1,982,382
74$2,485,044$1,020,244$753,829$2,109,268
75$2,685,613$1,017,330$726,177$2,247,658
76$2,904,973$1,012,607$695,931$2,398,714
77$3,144,988$1,005,933$662,954$2,563,722
78$3,407,713$997,159$627,098$2,744,099
79$3,695,406$986,126$588,212$2,941,406
80$4,010,557$972,666$546,137$3,157,367
81$4,355,907$956,601$500,706$3,393,884
82$4,734,476$937,740$451,746$3,653,051
83$5,149,589$915,885$399,076$3,937,183
84$5,604,906$890,824$342,505$4,248,828
85$6,104,464$862,331$281,835$4,590,800
86$6,652,703$830,169$216,861$4,966,199
87$7,254,519$794,088$147,366$5,378,446
88$7,915,302$753,820$73,125$5,831,314
89$8,640,991$709,085$0$6,328,960
90$9,438,128$659,586$0$6,877,081
91$10,313,918$605,007$0$7,493,852
92$11,276,302$545,017$0$8,171,621
93$12,334,026$479,264$0$8,916,585
94$13,496,725$407,376$0$9,735,576
95$14,775,015$328,962$0$10,636,124
96$16,180,592$243,606$0$11,626,528
97$17,726,342$150,872$0$12,715,935
98$19,426,460$50,297$0$13,914,427
99$21,296,590$0$0$15,233,114
100$23,353,965$0$0$16,695,854