Can I retire at age 61 with 890,000?

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 $890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$73,495$72,841$72,202$71,579$70,970$69,002
2 years$36,384$35,706$35,050$34,413$33,795$31,828
3 years$24,015$23,334$22,679$22,049$21,441$19,535
4 years$17,832$17,153$16,505$15,885$15,292$13,462
5 years$14,123$13,448$12,808$12,201$11,625$9,876
6 years$11,651$10,982$10,351$9,757$9,198$7,533
7 years$9,886$9,222$8,602$8,022$7,481$5,898
8 years$8,563$7,905$7,295$6,729$6,206$4,705
9 years$7,534$6,883$6,283$5,732$5,226$3,806
10 years$6,712$6,067$5,478$4,941$4,453$3,112
11 years$6,040$5,401$4,823$4,300$3,830$2,565
12 years$5,480$4,848$4,280$3,772$3,319$2,128
13 years$5,006$4,381$3,824$3,330$2,894$1,775
14 years$4,601$3,982$3,436$2,956$2,537$1,487
15 years$4,250$3,638$3,102$2,636$2,234$1,250
16 years$3,943$3,338$2,812$2,360$1,974$1,054
17 years$3,673$3,074$2,559$2,121$1,750$891
18 years$3,432$2,840$2,336$1,911$1,556$754
19 years$3,218$2,632$2,139$1,727$1,387$640
20 years$3,025$2,446$1,963$1,564$1,239$544
21 years$2,851$2,278$1,805$1,420$1,109$462
22 years$2,692$2,127$1,664$1,291$994$393
23 years$2,548$1,989$1,536$1,175$892$335
24 years$2,416$1,864$1,421$1,072$802$286
25 years$2,295$1,749$1,316$979$722$244
26 years$2,183$1,644$1,221$895$650$208
27 years$2,079$1,547$1,133$819$586$178
28 years$1,984$1,458$1,054$751$529$152
29 years$1,895$1,375$980$688$477$130
30 years$1,812$1,299$913$632$431$111
31 years$1,734$1,228$851$580$390$95
32 years$1,662$1,162$794$533$353$81
33 years$1,594$1,100$742$490$319$69
34 years$1,530$1,043$693$451$289$59
35 years$1,470$989$648$415$262$51
36 years$1,414$939$606$383$237$43
37 years$1,360$892$567$352$215$37
38 years$1,310$847$531$325$195$32
39 years$1,262$806$498$300$177$27
40 years$1,217$767$467$276$160$23
41 years$1,174$730$437$255$145$20
42 years$1,133$695$410$235$132$17
43 years$1,094$662$385$217$120$15
44 years$1,057$631$361$201$109$13
45 years$1,022$602$339$185$99$11
46 years$989$574$319$171$90$9
47 years$957$548$299$158$81$8
48 years$926$523$281$146$74$7
49 years$897$499$265$135$67$6
50 years$869$477$249$125$61$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $890,000, adding $4,165 every year, while hoping to spend $36,096 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: 62/25/13 Blend
60$890,000$890,000$890,000$890,000
61$985,076$937,906$924,111$1,042,825
62$1,047,148$945,458$916,663$1,089,625
63$1,114,342$952,170$907,756$1,136,194
64$1,187,141$957,962$897,302$1,186,147
65$1,266,078$962,752$885,211$1,239,815
66$1,351,740$966,448$871,387$1,297,561
67$1,444,769$968,956$855,730$1,359,785
68$1,545,875$970,174$838,136$1,426,933
69$1,655,836$969,995$818,496$1,499,494
70$1,775,511$968,303$796,694$1,578,007
71$1,905,841$964,978$772,612$1,663,071
72$2,047,866$959,891$746,124$1,755,343
73$2,202,728$952,906$717,098$1,855,550
74$2,371,684$943,876$685,399$1,964,497
75$2,556,118$932,648$650,882$2,083,068
76$2,757,554$919,060$613,399$2,212,242
77$2,977,669$902,938$572,792$2,353,099
78$3,218,309$884,100$528,899$2,506,830
79$3,481,508$862,352$481,548$2,674,751
80$3,769,503$837,489$430,561$2,858,314
81$4,084,759$809,293$375,752$3,059,120
82$4,429,991$777,534$316,926$3,278,938
83$4,808,187$741,970$253,879$3,519,719
84$5,222,638$702,343$186,401$3,783,615
85$5,676,970$658,380$114,268$4,073,004
86$6,175,175$609,795$37,250$4,390,505
87$6,721,650$556,282$0$4,739,011
88$7,321,238$497,520$0$5,127,949
89$7,979,275$433,170$0$5,560,522
90$8,701,637$362,871$0$6,035,480
91$9,494,797$286,244$0$6,557,146
92$10,365,885$202,889$0$7,130,287
93$11,322,757$112,382$0$7,760,157
94$12,374,065$14,276$0$8,452,552
95$13,529,344$0$0$9,213,862
96$14,799,093$0$0$10,076,412
97$16,194,885$0$0$11,028,973
98$17,729,466$0$0$12,076,325
99$19,416,879$0$0$13,228,062
100$21,272,596$0$0$14,494,756