Can I retire at age 61 with 897,000?

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 $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%16.5%
1 years$74,073$73,414$72,770$72,142$71,528$69,629
2 years$36,670$35,987$35,325$34,683$34,061$32,161
3 years$24,204$23,518$22,858$22,222$21,610$19,769
4 years$17,972$17,288$16,635$16,010$15,412$13,644
5 years$14,234$13,554$12,909$12,297$11,716$10,025
6 years$11,743$11,068$10,432$9,834$9,271$7,659
7 years$9,964$9,295$8,669$8,085$7,539$6,007
8 years$8,630$7,967$7,352$6,782$6,255$4,801
9 years$7,594$6,937$6,333$5,777$5,267$3,890
10 years$6,765$6,115$5,521$4,980$4,488$3,187
11 years$6,087$5,444$4,861$4,334$3,860$2,632
12 years$5,523$4,886$4,314$3,802$3,345$2,188
13 years$5,046$4,415$3,854$3,356$2,917$1,829
14 years$4,637$4,013$3,463$2,979$2,557$1,535
15 years$4,283$3,666$3,126$2,657$2,251$1,293
16 years$3,974$3,364$2,835$2,379$1,990$1,093
17 years$3,701$3,098$2,579$2,138$1,764$926
18 years$3,459$2,863$2,355$1,926$1,569$785
19 years$3,243$2,653$2,156$1,741$1,398$668
20 years$3,049$2,465$1,978$1,576$1,249$569
21 years$2,873$2,296$1,820$1,431$1,118$485
22 years$2,713$2,144$1,677$1,301$1,002$413
23 years$2,568$2,005$1,548$1,185$899$353
24 years$2,435$1,878$1,432$1,081$808$302
25 years$2,313$1,763$1,326$987$727$258
26 years$2,200$1,657$1,230$902$655$221
27 years$2,096$1,559$1,142$826$591$189
28 years$1,999$1,469$1,062$757$533$162
29 years$1,909$1,386$988$694$481$139
30 years$1,826$1,309$920$637$435$119
31 years$1,748$1,237$858$585$393$102
32 years$1,675$1,171$801$538$356$87
33 years$1,606$1,109$748$494$322$75
34 years$1,542$1,051$698$455$291$64
35 years$1,482$997$653$419$264$55
36 years$1,425$946$611$386$239$47
37 years$1,371$899$572$355$217$41
38 years$1,320$854$535$327$196$35
39 years$1,272$812$502$302$178$30
40 years$1,226$773$470$278$162$26
41 years$1,183$735$441$257$147$22
42 years$1,142$700$414$237$133$19
43 years$1,103$667$388$219$121$16
44 years$1,066$636$364$202$110$14
45 years$1,030$607$342$187$99$12
46 years$997$579$321$172$90$10
47 years$964$552$302$159$82$9
48 years$933$527$284$147$74$8
49 years$904$503$267$136$68$6
50 years$876$481$251$126$61$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $897,000, adding $5,377 every year, while hoping to spend $25,898 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: 57/17/26 Blend
60$897,000$897,000$897,000$897,000
61$994,040$946,499$932,596$1,043,367
62$1,067,877$965,323$936,283$1,096,582
63$1,148,377$984,200$939,225$1,151,370
64$1,236,193$1,003,107$941,370$1,210,546
65$1,332,043$1,022,017$942,664$1,274,543
66$1,436,717$1,040,902$943,048$1,343,835
67$1,551,084$1,059,728$942,463$1,418,948
68$1,676,104$1,078,464$940,845$1,500,460
69$1,812,830$1,097,072$938,127$1,589,010
70$1,962,424$1,115,514$934,239$1,685,301
71$2,126,164$1,133,747$929,108$1,790,109
72$2,305,457$1,151,725$922,659$1,904,290
73$2,501,856$1,169,402$914,809$2,028,787
74$2,717,066$1,186,723$905,476$2,164,642
75$2,952,968$1,203,634$894,571$2,313,001
76$3,211,633$1,220,074$882,001$2,475,131
77$3,495,341$1,235,980$867,671$2,652,427
78$3,806,606$1,251,283$851,478$2,846,426
79$4,148,195$1,265,911$833,317$3,058,827
80$4,523,155$1,279,784$813,077$3,291,501
81$4,934,843$1,292,821$790,642$3,546,509
82$5,386,960$1,304,931$765,891$3,826,128
83$5,883,578$1,316,021$738,697$4,132,865
84$6,429,187$1,325,990$708,927$4,469,487
85$7,028,730$1,334,730$676,442$4,839,043
86$7,687,655$1,342,126$641,098$5,244,895
87$8,411,964$1,348,058$602,742$5,690,751
88$9,208,267$1,352,396$561,217$6,180,698
89$10,083,849$1,355,002$516,357$6,719,243
90$11,046,735$1,355,731$467,988$7,311,354
91$12,105,768$1,354,427$415,931$7,962,509
92$13,270,687$1,350,925$359,996$8,678,747
93$14,552,228$1,345,051$299,987$9,466,727
94$15,962,216$1,336,619$235,697$10,333,788
95$17,513,680$1,325,432$166,911$11,288,023
96$19,220,979$1,311,282$93,406$12,338,352
97$21,099,931$1,293,946$14,947$13,494,610
98$23,167,965$1,273,191$0$14,767,638
99$25,444,288$1,248,768$0$16,188,468
100$27,950,062$1,220,414$0$17,756,859