Can I retire at age 61 with 847,000?

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 $847,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$69,944$69,321$68,714$68,120$67,541$66,395
2 years$34,626$33,981$33,356$32,750$32,162$31,011
3 years$22,855$22,207$21,584$20,983$20,405$19,285
4 years$16,970$16,325$15,707$15,117$14,553$13,472
5 years$13,440$12,799$12,190$11,612$11,063$10,025
6 years$11,088$10,451$9,851$9,286$8,754$7,759
7 years$9,408$8,777$8,186$7,634$7,119$6,168
8 years$8,149$7,523$6,943$6,404$5,906$4,999
9 years$7,170$6,550$5,980$5,455$4,974$4,110
10 years$6,388$5,774$5,213$4,702$4,238$3,417
11 years$5,748$5,140$4,590$4,092$3,645$2,865
12 years$5,215$4,613$4,073$3,590$3,158$2,420
13 years$4,765$4,169$3,639$3,169$2,754$2,055
14 years$4,379$3,790$3,270$2,813$2,414$1,754
15 years$4,045$3,462$2,952$2,509$2,126$1,502
16 years$3,753$3,176$2,677$2,246$1,879$1,291
17 years$3,495$2,925$2,436$2,018$1,666$1,112
18 years$3,267$2,703$2,223$1,819$1,481$961
19 years$3,062$2,505$2,035$1,644$1,320$832
20 years$2,879$2,328$1,868$1,489$1,179$721
21 years$2,713$2,168$1,718$1,351$1,055$626
22 years$2,562$2,024$1,584$1,228$946$544
23 years$2,425$1,893$1,462$1,119$849$473
24 years$2,299$1,774$1,352$1,020$763$412
25 years$2,184$1,665$1,252$932$687$359
26 years$2,077$1,564$1,162$852$619$313
27 years$1,979$1,472$1,079$780$558$274
28 years$1,888$1,387$1,003$715$503$239
29 years$1,803$1,309$933$655$454$209
30 years$1,724$1,236$869$601$411$182
31 years$1,650$1,168$810$552$371$160
32 years$1,581$1,106$756$508$336$140
33 years$1,517$1,047$706$467$304$122
34 years$1,456$992$660$429$275$107
35 years$1,399$941$617$395$249$93
36 years$1,345$893$577$364$226$82
37 years$1,294$848$540$335$205$72
38 years$1,246$806$506$309$186$63
39 years$1,201$767$474$285$168$55
40 years$1,158$730$444$263$153$48
41 years$1,117$694$416$243$138$42
42 years$1,078$661$391$224$126$37
43 years$1,041$630$366$207$114$32
44 years$1,006$601$344$191$103$28
45 years$973$573$323$176$94$25
46 years$941$546$303$163$85$22
47 years$911$521$285$150$77$19
48 years$881$498$268$139$70$17
49 years$854$475$252$128$64$15
50 years$827$454$237$119$58$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $847,000, adding $4,671 every year, while hoping to spend $59,883 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: 53/27/20 Blend
60$847,000$847,000$847,000$847,000
61$938,212$893,321$880,193$982,567
62$970,195$873,379$845,964$993,594
63$1,003,433$850,452$808,582$998,935
64$1,037,990$824,332$767,877$1,003,460
65$1,073,938$794,797$723,673$1,007,111
66$1,111,349$761,611$675,786$1,009,827
67$1,150,304$724,528$624,022$1,011,545
68$1,190,888$683,283$568,180$1,012,198
69$1,233,195$637,600$508,050$1,011,719
70$1,277,324$587,185$443,413$1,010,037
71$1,323,381$531,728$374,037$1,007,081
72$1,371,483$470,899$299,685$1,002,774
73$1,421,754$404,354$220,104$997,041
74$1,474,331$331,724$135,035$989,803
75$1,529,358$252,624$44,204$980,980
76$1,586,994$166,644$0$970,488
77$1,647,410$73,353$0$969,498
78$1,710,794$0$0$977,471
79$1,777,346$0$0$993,176
80$1,847,285$0$0$1,032,611
81$1,920,852$0$0$1,074,119
82$1,998,303$0$0$1,117,851
83$2,079,923$0$0$1,163,969
84$2,166,019$0$0$1,212,653
85$2,256,926$0$0$1,264,097
86$2,353,009$0$0$1,318,511
87$2,454,668$0$0$1,376,129
88$2,562,338$0$0$1,437,202
89$2,676,496$0$0$1,502,007
90$2,797,660$0$0$1,570,846
91$2,926,401$0$0$1,644,049
92$3,063,339$0$0$1,721,977
93$3,209,156$0$0$1,805,026
94$3,364,598$0$0$1,893,630
95$3,530,479$0$0$1,988,262
96$3,707,696$0$0$2,089,444
97$3,897,227$0$0$2,197,746
98$4,100,148$0$0$2,313,792
99$4,317,637$0$0$2,438,269
100$4,550,987$0$0$2,571,930