Can I retire at age 61 with 885,000?

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 $885,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$73,082$72,431$71,796$71,176$70,571$70,215
2 years$36,179$35,506$34,853$34,219$33,605$33,246
3 years$23,880$23,203$22,552$21,925$21,321$20,969
4 years$17,732$17,057$16,412$15,796$15,206$14,865
5 years$14,043$13,373$12,736$12,132$11,559$11,230
6 years$11,585$10,920$10,293$9,702$9,147$8,829
7 years$9,830$9,171$8,553$7,977$7,439$7,133
8 years$8,515$7,861$7,254$6,692$6,171$5,878
9 years$7,492$6,844$6,248$5,700$5,197$4,916
10 years$6,674$6,033$5,447$4,913$4,428$4,159
11 years$6,006$5,371$4,795$4,276$3,808$3,551
12 years$5,449$4,820$4,256$3,751$3,300$3,054
13 years$4,978$4,356$3,802$3,311$2,878$2,643
14 years$4,575$3,960$3,416$2,939$2,523$2,299
15 years$4,226$3,617$3,085$2,621$2,221$2,008
16 years$3,921$3,319$2,797$2,347$1,963$1,761
17 years$3,652$3,057$2,545$2,109$1,741$1,549
18 years$3,413$2,824$2,323$1,901$1,548$1,366
19 years$3,200$2,618$2,127$1,717$1,379$1,207
20 years$3,008$2,432$1,952$1,555$1,232$1,069
21 years$2,834$2,266$1,795$1,412$1,103$948
22 years$2,677$2,115$1,655$1,283$988$842
23 years$2,534$1,978$1,528$1,169$887$750
24 years$2,402$1,853$1,413$1,066$797$668
25 years$2,282$1,739$1,309$974$718$595
26 years$2,170$1,635$1,214$890$646$531
27 years$2,068$1,538$1,127$815$583$475
28 years$1,972$1,450$1,048$747$526$424
29 years$1,884$1,368$975$685$475$379
30 years$1,801$1,291$908$628$429$340
31 years$1,724$1,221$847$577$388$304
32 years$1,652$1,155$790$530$351$272
33 years$1,585$1,094$738$488$318$244
34 years$1,521$1,037$689$449$287$219
35 years$1,462$983$644$413$260$196
36 years$1,406$933$603$380$236$176
37 years$1,353$887$564$351$214$158
38 years$1,302$843$528$323$194$142
39 years$1,255$801$495$298$176$127
40 years$1,210$762$464$275$159$114
41 years$1,167$726$435$253$145$103
42 years$1,127$691$408$234$131$92
43 years$1,088$658$383$216$119$83
44 years$1,052$628$359$199$108$74
45 years$1,017$598$337$184$98$67
46 years$983$571$317$170$89$60
47 years$951$545$298$157$81$54
48 years$921$520$280$145$73$48
49 years$892$497$263$134$67$44
50 years$864$474$247$124$61$39

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $885,000, adding $4,058 every year, while hoping to spend $30,436 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: 61/10/29 Blend
60$885,000$885,000$885,000$885,000
61$979,456$932,551$918,833$1,031,301
62$1,046,977$945,862$917,231$1,080,416
63$1,120,365$958,806$914,554$1,130,382
64$1,200,186$971,331$910,736$1,184,290
65$1,287,063$983,385$905,704$1,242,531
66$1,381,683$994,910$899,384$1,305,537
67$1,484,799$1,005,845$891,698$1,373,785
68$1,597,241$1,016,124$882,563$1,447,803
69$1,719,924$1,025,679$871,893$1,528,172
70$1,853,854$1,034,434$859,598$1,615,533
71$2,000,136$1,042,311$845,585$1,710,594
72$2,159,991$1,049,225$829,753$1,814,135
73$2,334,761$1,055,087$812,000$1,927,020
74$2,525,921$1,059,802$792,217$2,050,197
75$2,735,101$1,063,268$770,291$2,184,718
76$2,964,090$1,065,376$746,105$2,331,738
77$3,214,861$1,066,014$719,533$2,492,535
78$3,489,586$1,065,058$690,447$2,668,518
79$3,790,658$1,062,380$658,711$2,861,241
80$4,120,711$1,057,842$624,183$3,072,417
81$4,482,646$1,051,299$586,717$3,303,939
82$4,879,660$1,042,597$546,156$3,557,891
83$5,315,273$1,031,572$502,339$3,836,576
84$5,793,361$1,018,050$455,099$4,142,529
85$6,318,197$1,001,847$404,257$4,478,552
86$6,894,484$982,768$349,631$4,847,730
87$7,527,405$960,607$291,027$5,253,468
88$8,222,669$935,146$228,245$5,699,520
89$8,986,565$906,152$161,075$6,190,029
90$9,826,022$873,380$89,298$6,729,559
91$10,748,672$836,572$12,686$7,323,147
92$11,762,925$795,453$0$7,976,345
93$12,878,046$749,732$0$8,716,649
94$14,104,241$699,103$0$9,535,016
95$15,452,755$643,241$0$10,435,042
96$16,935,980$581,804$0$11,425,017
97$18,567,565$514,427$0$12,514,081
98$20,362,552$440,729$0$13,712,303
99$22,337,511$360,304$0$15,030,780
100$24,510,703$272,725$0$16,481,739