Can I retire at age 61 with 894,000?

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 $894,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$73,826$73,168$72,527$71,900$71,289$70,544
2 years$36,547$35,867$35,207$34,567$33,947$33,197
3 years$24,123$23,439$22,781$22,148$21,537$20,806
4 years$17,912$17,230$16,579$15,956$15,361$14,653
5 years$14,186$13,509$12,866$12,256$11,677$10,995
6 years$11,703$11,031$10,398$9,801$9,240$8,584
7 years$9,930$9,264$8,640$8,058$7,514$6,885
8 years$8,601$7,941$7,328$6,760$6,234$5,632
9 years$7,568$6,914$6,311$5,758$5,250$4,674
10 years$6,742$6,094$5,502$4,963$4,473$3,924
11 years$6,067$5,425$4,844$4,320$3,847$3,324
12 years$5,504$4,869$4,299$3,789$3,334$2,835
13 years$5,029$4,401$3,841$3,345$2,907$2,433
14 years$4,622$4,000$3,451$2,969$2,548$2,099
15 years$4,269$3,654$3,116$2,648$2,244$1,817
16 years$3,961$3,353$2,825$2,371$1,983$1,579
17 years$3,689$3,088$2,571$2,130$1,758$1,376
18 years$3,448$2,853$2,347$1,920$1,563$1,203
19 years$3,232$2,644$2,148$1,735$1,393$1,053
20 years$3,038$2,457$1,972$1,571$1,245$924
21 years$2,863$2,289$1,813$1,426$1,114$812
22 years$2,704$2,136$1,671$1,297$998$714
23 years$2,559$1,998$1,543$1,181$896$629
24 years$2,427$1,872$1,427$1,077$806$555
25 years$2,305$1,757$1,322$984$725$490
26 years$2,193$1,651$1,226$899$653$433
27 years$2,089$1,554$1,138$823$589$383
28 years$1,993$1,464$1,058$754$531$338
29 years$1,903$1,381$985$692$480$300
30 years$1,820$1,305$917$635$433$265
31 years$1,742$1,233$855$583$392$235
32 years$1,669$1,167$798$536$354$208
33 years$1,601$1,105$745$493$321$185
34 years$1,537$1,047$696$453$290$164
35 years$1,477$993$651$417$263$145
36 years$1,420$943$609$384$238$129
37 years$1,366$896$570$354$216$114
38 years$1,316$851$534$326$196$102
39 years$1,268$809$500$301$178$90
40 years$1,222$770$469$278$161$80
41 years$1,179$733$439$256$146$71
42 years$1,138$698$412$236$133$63
43 years$1,099$665$387$218$120$56
44 years$1,062$634$363$201$109$50
45 years$1,027$605$341$186$99$44
46 years$993$577$320$172$90$39
47 years$961$550$301$159$82$35
48 years$930$525$283$147$74$31
49 years$901$502$266$136$67$28
50 years$873$479$250$125$61$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $894,000, adding $2,414 every year, while hoping to spend $29,204 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: 55/39/6 Blend
60$894,000$894,000$894,000$894,000
61$987,678$940,296$926,439$1,040,572
62$1,057,348$955,298$926,402$1,091,526
63$1,133,146$970,056$925,385$1,143,518
64$1,215,666$984,527$923,324$1,199,403
65$1,305,561$998,666$920,153$1,259,557
66$1,403,552$1,012,424$915,801$1,324,391
67$1,510,429$1,025,748$910,195$1,394,358
68$1,627,065$1,038,582$903,259$1,469,959
69$1,754,418$1,050,865$894,911$1,551,747
70$1,893,546$1,062,534$885,067$1,640,330
71$2,045,610$1,073,521$873,640$1,736,379
72$2,211,891$1,083,752$860,535$1,840,635
73$2,393,798$1,093,150$845,657$1,953,913
74$2,592,882$1,101,631$828,904$2,077,116
75$2,810,853$1,109,108$810,169$2,211,235
76$3,049,592$1,115,487$789,342$2,357,366
77$3,311,172$1,120,667$766,306$2,516,717
78$3,597,874$1,124,542$740,940$2,690,620
79$3,912,212$1,127,000$713,116$2,880,544
80$4,256,954$1,127,919$682,702$3,088,111
81$4,635,149$1,127,173$649,559$3,315,106
82$5,050,156$1,124,626$613,540$3,563,503
83$5,505,674$1,120,135$574,496$3,835,474
84$6,005,777$1,113,546$532,265$4,133,417
85$6,554,954$1,104,697$486,684$4,459,976
86$7,158,149$1,093,417$437,578$4,818,068
87$7,820,810$1,079,525$384,767$5,210,907
88$8,548,938$1,062,826$328,061$5,642,041
89$9,349,142$1,043,117$267,264$6,115,381
90$10,228,705$1,020,180$202,168$6,635,239
91$11,195,651$993,788$132,559$7,206,371
92$12,258,820$963,696$58,212$7,834,022
93$13,427,951$929,647$0$8,523,976
94$14,713,772$891,371$0$9,283,961
95$16,128,107$848,578$0$10,123,723
96$17,683,980$800,965$0$11,047,299
97$19,395,743$748,208$0$12,063,258
98$21,279,207$689,969$0$13,181,044
99$23,351,795$625,887$0$14,411,068
100$25,632,704$555,581$0$15,764,811