Can I retire at age 61 with 842,000?

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 $842,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$69,532$68,912$68,308$67,718$67,142$66,580
2 years$34,422$33,781$33,159$32,557$31,973$31,406
3 years$22,720$22,076$21,456$20,859$20,285$19,731
4 years$16,870$16,228$15,615$15,028$14,467$13,931
5 years$13,361$12,723$12,118$11,543$10,998$10,480
6 years$11,023$10,389$9,793$9,231$8,702$8,204
7 years$9,353$8,725$8,138$7,589$7,077$6,599
8 years$8,101$7,479$6,902$6,367$5,871$5,413
9 years$7,128$6,512$5,944$5,423$4,944$4,506
10 years$6,350$5,740$5,182$4,675$4,213$3,794
11 years$5,714$5,110$4,562$4,068$3,623$3,223
12 years$5,184$4,586$4,049$3,568$3,140$2,759
13 years$4,736$4,145$3,618$3,150$2,738$2,375
14 years$4,353$3,767$3,250$2,797$2,400$2,055
15 years$4,021$3,442$2,935$2,494$2,113$1,786
16 years$3,730$3,158$2,661$2,233$1,868$1,557
17 years$3,474$2,908$2,421$2,006$1,656$1,362
18 years$3,247$2,687$2,210$1,808$1,472$1,194
19 years$3,044$2,490$2,023$1,634$1,312$1,049
20 years$2,862$2,314$1,857$1,480$1,172$924
21 years$2,697$2,156$1,708$1,343$1,049$815
22 years$2,547$2,012$1,574$1,221$940$720
23 years$2,411$1,882$1,453$1,112$844$636
24 years$2,286$1,763$1,344$1,014$759$563
25 years$2,171$1,655$1,245$926$683$499
26 years$2,065$1,555$1,155$847$615$443
27 years$1,967$1,464$1,072$775$554$393
28 years$1,877$1,379$997$710$500$349
29 years$1,792$1,301$928$651$452$310
30 years$1,714$1,229$864$598$408$276
31 years$1,641$1,162$806$549$369$245
32 years$1,572$1,099$752$505$334$218
33 years$1,508$1,041$702$464$302$194
34 years$1,448$986$656$427$274$173
35 years$1,391$936$613$393$248$154
36 years$1,337$888$573$362$224$137
37 years$1,287$843$537$333$203$122
38 years$1,239$802$503$307$184$109
39 years$1,194$762$471$283$167$97
40 years$1,151$725$441$261$152$87
41 years$1,111$690$414$241$138$77
42 years$1,072$657$388$223$125$69
43 years$1,035$626$364$205$113$62
44 years$1,000$597$342$190$103$55
45 years$967$569$321$175$93$49
46 years$935$543$302$162$85$44
47 years$905$518$283$150$77$39
48 years$876$495$266$138$70$35
49 years$849$473$250$128$64$31
50 years$822$451$235$118$58$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $842,000, adding $3,009 every year, while hoping to spend $39,688 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$842,000$842,000$842,000$842,000
61$930,988$886,362$873,311$993,701
62$983,721$887,566$860,339$1,036,839
63$1,040,502$887,499$845,602$1,078,892
64$1,101,704$886,056$829,000$1,123,823
65$1,167,732$883,128$810,426$1,171,907
66$1,239,036$878,596$789,771$1,223,446
67$1,316,106$872,336$766,917$1,278,777
68$1,399,485$864,216$741,744$1,338,267
69$1,489,766$854,096$714,126$1,402,324
70$1,587,603$841,828$683,930$1,471,400
71$1,693,714$827,253$651,018$1,545,992
72$1,808,891$810,206$615,245$1,626,647
73$1,934,001$790,510$576,459$1,713,973
74$2,070,002$767,978$534,503$1,808,638
75$2,217,945$742,411$489,212$1,911,380
76$2,378,988$713,602$440,412$2,023,016
77$2,554,403$681,327$387,925$2,144,445
78$2,745,593$645,352$331,561$2,276,661
79$2,954,099$605,430$271,124$2,420,760
80$3,181,619$561,299$206,409$2,577,954
81$3,430,022$512,680$137,201$2,749,578
82$3,701,364$459,281$63,277$2,937,107
83$3,997,909$400,792$0$3,142,170
84$4,322,151$336,885$0$3,367,895
85$4,676,834$267,216$0$3,620,784
86$5,064,979$191,418$0$3,897,639
87$5,489,916$109,107$0$4,200,898
88$5,955,308$19,873$0$4,533,248
89$6,465,190$0$0$4,897,654
90$7,024,008$0$0$5,316,802
91$7,636,655$0$0$5,781,886
92$8,308,522$0$0$6,291,977
93$9,045,546$0$0$6,851,588
94$9,854,269$0$0$7,465,690
95$10,741,892$0$0$8,139,762
96$11,716,351$0$0$8,879,834
97$12,786,387$0$0$9,692,553
98$13,961,628$0$0$10,585,239
99$15,252,681$0$0$11,565,957
100$16,671,232$0$0$12,643,590