Can I retire at age 61 with 883,000?

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 $883,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$72,917$72,268$71,634$71,016$70,412$69,131
2 years$36,098$35,425$34,774$34,142$33,529$32,244
3 years$23,826$23,151$22,501$21,875$21,272$20,022
4 years$17,691$17,018$16,375$15,760$15,172$13,966
5 years$14,012$13,343$12,708$12,105$11,533$10,376
6 years$11,559$10,895$10,270$9,681$9,126$8,018
7 years$9,808$9,150$8,534$7,959$7,422$6,364
8 years$8,496$7,843$7,238$6,677$6,157$5,148
9 years$7,475$6,829$6,234$5,687$5,185$4,225
10 years$6,659$6,019$5,435$4,902$4,418$3,506
11 years$5,992$5,359$4,785$4,266$3,800$2,935
12 years$5,437$4,810$4,246$3,742$3,293$2,473
13 years$4,967$4,346$3,794$3,304$2,871$2,097
14 years$4,565$3,951$3,409$2,933$2,517$1,785
15 years$4,216$3,609$3,078$2,615$2,216$1,526
16 years$3,912$3,311$2,790$2,342$1,959$1,309
17 years$3,644$3,050$2,539$2,104$1,737$1,125
18 years$3,405$2,818$2,318$1,896$1,544$970
19 years$3,192$2,612$2,122$1,713$1,376$838
20 years$3,001$2,427$1,947$1,552$1,229$724
21 years$2,828$2,261$1,791$1,408$1,100$628
22 years$2,671$2,110$1,651$1,281$986$544
23 years$2,528$1,974$1,524$1,166$885$472
24 years$2,397$1,849$1,410$1,064$796$411
25 years$2,277$1,735$1,306$971$716$357
26 years$2,166$1,631$1,211$888$645$311
27 years$2,063$1,535$1,124$813$581$271
28 years$1,968$1,446$1,045$745$525$236
29 years$1,880$1,364$973$683$474$205
30 years$1,797$1,289$906$627$428$179
31 years$1,721$1,218$845$576$387$156
32 years$1,649$1,153$788$529$350$136
33 years$1,581$1,092$736$487$317$119
34 years$1,518$1,034$688$448$287$104
35 years$1,459$981$643$412$260$91
36 years$1,402$931$601$380$235$79
37 years$1,349$885$563$350$213$69
38 years$1,299$841$527$322$193$60
39 years$1,252$799$494$297$175$53
40 years$1,207$761$463$274$159$46
41 years$1,165$724$434$253$144$40
42 years$1,124$689$407$233$131$35
43 years$1,086$657$382$215$119$31
44 years$1,049$626$359$199$108$27
45 years$1,014$597$337$184$98$23
46 years$981$570$316$170$89$20
47 years$949$544$297$157$81$18
48 years$919$519$279$145$73$16
49 years$890$496$262$134$67$14
50 years$862$473$247$124$60$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $883,000, adding $6,484 every year, while hoping to spend $21,421 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: 46/35/19 Blend
60$883,000$883,000$883,000$883,000
61$979,754$932,955$919,269$1,019,233
62$1,056,897$955,878$927,272$1,070,402
63$1,141,191$979,207$934,826$1,123,231
64$1,233,342$1,002,937$941,893$1,180,097
65$1,334,129$1,027,067$948,432$1,241,385
66$1,444,408$1,051,591$954,402$1,307,520
67$1,565,123$1,076,505$959,760$1,378,969
68$1,697,312$1,101,800$964,459$1,456,247
69$1,842,120$1,127,470$968,450$1,539,923
70$2,000,806$1,153,506$971,683$1,630,621
71$2,174,759$1,179,898$974,104$1,729,030
72$2,365,505$1,206,634$975,658$1,835,911
73$2,574,728$1,233,700$976,284$1,952,100
74$2,804,282$1,261,084$975,921$2,078,519
75$3,056,209$1,288,767$974,505$2,216,186
76$3,332,758$1,316,732$971,967$2,366,219
77$3,636,407$1,344,960$968,235$2,529,853
78$3,969,885$1,373,427$963,235$2,708,450
79$4,336,198$1,402,110$956,889$2,903,510
80$4,738,659$1,430,982$949,113$3,116,684
81$5,180,917$1,460,014$939,823$3,349,797
82$5,666,990$1,489,175$928,926$3,604,855
83$6,201,308$1,518,429$916,330$3,884,072
84$6,788,749$1,547,740$901,935$4,189,890
85$7,434,689$1,577,067$885,637$4,524,997
86$8,145,049$1,606,365$867,329$4,892,358
87$8,926,355$1,635,588$846,895$5,295,240
88$9,785,795$1,664,684$824,218$5,737,247
89$10,731,291$1,693,598$799,173$6,222,349
90$11,771,568$1,722,269$771,631$6,754,921
91$12,916,242$1,750,635$741,455$7,339,789
92$14,175,908$1,778,626$708,504$7,982,270
93$15,562,240$1,806,168$672,628$8,688,224
94$17,088,100$1,833,182$633,672$9,464,114
95$18,767,661$1,859,582$591,475$10,317,061
96$20,616,539$1,885,278$545,866$11,254,913
97$22,651,942$1,910,173$496,669$12,286,324
98$24,892,830$1,934,162$443,697$13,420,831
99$27,360,097$1,957,133$386,758$14,668,945
100$30,076,762$1,978,968$325,651$16,042,253