Can I retire at age 61 with 898,000?

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 $898,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$74,156$73,495$72,851$72,222$71,608$68,767
2 years$36,711$36,027$35,365$34,722$34,099$31,272
3 years$24,231$23,544$22,883$22,247$21,634$18,910
4 years$17,992$17,307$16,653$16,028$15,429$12,829
5 years$14,250$13,569$12,924$12,311$11,729$9,259
6 years$11,756$11,080$10,444$9,845$9,281$6,943
7 years$9,975$9,305$8,679$8,094$7,548$5,341
8 years$8,640$7,976$7,361$6,790$6,262$4,183
9 years$7,602$6,945$6,340$5,784$5,273$3,321
10 years$6,772$6,122$5,527$4,985$4,493$2,662
11 years$6,094$5,450$4,866$4,339$3,864$2,151
12 years$5,529$4,891$4,318$3,806$3,349$1,748
13 years$5,051$4,420$3,858$3,360$2,920$1,428
14 years$4,642$4,018$3,467$2,983$2,560$1,171
15 years$4,288$3,670$3,130$2,660$2,254$963
16 years$3,978$3,368$2,838$2,382$1,992$794
17 years$3,706$3,101$2,582$2,140$1,766$656
18 years$3,463$2,866$2,357$1,928$1,570$542
19 years$3,247$2,656$2,158$1,743$1,400$449
20 years$3,052$2,468$1,980$1,578$1,250$373
21 years$2,876$2,299$1,822$1,432$1,119$310
22 years$2,716$2,146$1,679$1,302$1,003$257
23 years$2,571$2,007$1,550$1,186$900$214
24 years$2,438$1,881$1,434$1,082$809$178
25 years$2,315$1,765$1,328$988$728$148
26 years$2,202$1,659$1,231$903$656$123
27 years$2,098$1,561$1,144$827$591$103
28 years$2,001$1,471$1,063$758$534$86
29 years$1,912$1,388$989$695$482$71
30 years$1,828$1,310$921$638$435$59
31 years$1,750$1,239$859$586$394$49
32 years$1,677$1,172$802$538$356$41
33 years$1,608$1,110$748$495$322$34
34 years$1,544$1,052$699$455$292$29
35 years$1,483$998$654$419$264$24
36 years$1,426$947$612$386$239$20
37 years$1,372$900$572$356$217$17
38 years$1,322$855$536$328$197$14
39 years$1,273$813$502$302$178$12
40 years$1,228$773$471$279$162$10
41 years$1,184$736$441$257$147$8
42 years$1,143$701$414$237$133$7
43 years$1,104$668$389$219$121$6
44 years$1,067$637$365$202$110$5
45 years$1,031$607$342$187$100$4
46 years$998$579$322$173$90$3
47 years$965$553$302$159$82$3
48 years$935$528$284$147$75$2
49 years$905$504$267$136$68$2
50 years$877$481$251$126$62$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $898,000, adding $5,453 every year, while hoping to spend $47,476 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: 32/50/18 Blend
60$898,000$898,000$898,000$898,000
61$995,221$947,627$933,708$1,021,327
62$1,046,219$943,546$914,473$1,037,139
63$1,100,828$937,675$893,002$1,049,423
64$1,159,366$929,874$869,171$1,061,645
65$1,222,182$919,999$842,849$1,073,827
66$1,289,658$907,893$813,898$1,085,997
67$1,362,216$893,392$782,177$1,098,191
68$1,440,317$876,323$747,534$1,110,452
69$1,524,467$856,500$709,815$1,122,834
70$1,615,224$833,730$668,854$1,135,400
71$1,713,198$807,804$624,483$1,148,226
72$1,819,063$778,505$576,521$1,161,401
73$1,933,555$745,600$524,783$1,175,030
74$2,057,488$708,845$469,073$1,189,233
75$2,191,754$667,980$409,189$1,204,152
76$2,337,333$622,731$344,917$1,219,950
77$2,495,304$572,808$276,035$1,236,814
78$2,666,856$517,906$202,313$1,254,959
79$2,853,292$457,700$123,507$1,274,631
80$3,056,048$391,848$39,365$1,296,109
81$3,276,705$319,989$0$1,319,712
82$3,517,000$241,740$0$1,355,487
83$3,778,847$156,698$0$1,402,857
84$4,064,350$64,437$0$1,454,771
85$4,375,827$0$0$1,511,810
86$4,715,827$0$0$1,594,152
87$5,087,157$0$0$1,722,930
88$5,492,908$0$0$1,863,777
89$5,936,482$0$0$2,017,892
90$6,421,624$0$0$2,186,593
91$6,952,458$0$0$2,371,331
92$7,533,526$0$0$2,573,707
93$8,169,829$0$0$2,795,481
94$8,866,873$0$0$3,038,593
95$9,630,722$0$0$3,305,178
96$10,468,057$0$0$3,597,589
97$11,386,231$0$0$3,918,417
98$12,393,349$0$0$4,270,517
99$13,498,332$0$0$4,657,032
100$14,711,011$0$0$5,081,426