Can I retire at age 61 with 895,000?

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 $895,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$73,908$73,250$72,608$71,981$71,369$70,949
2 years$36,588$35,907$35,246$34,606$33,985$33,561
3 years$24,150$23,466$22,807$22,172$21,561$21,147
4 years$17,932$17,250$16,597$15,974$15,378$14,976
5 years$14,202$13,524$12,880$12,270$11,690$11,302
6 years$11,716$11,043$10,409$9,812$9,250$8,876
7 years$9,942$9,274$8,650$8,067$7,523$7,163
8 years$8,611$7,950$7,336$6,767$6,241$5,896
9 years$7,577$6,922$6,318$5,764$5,256$4,925
10 years$6,750$6,101$5,509$4,969$4,478$4,162
11 years$6,074$5,431$4,850$4,324$3,851$3,549
12 years$5,511$4,875$4,304$3,793$3,337$3,049
13 years$5,035$4,406$3,845$3,349$2,910$2,635
14 years$4,627$4,004$3,455$2,973$2,551$2,289
15 years$4,274$3,658$3,119$2,651$2,246$1,997
16 years$3,965$3,356$2,828$2,374$1,985$1,749
17 years$3,693$3,091$2,574$2,133$1,760$1,536
18 years$3,452$2,856$2,349$1,922$1,565$1,352
19 years$3,236$2,647$2,151$1,737$1,395$1,193
20 years$3,042$2,460$1,974$1,573$1,246$1,055
21 years$2,867$2,291$1,816$1,428$1,115$935
22 years$2,707$2,139$1,673$1,298$1,000$829
23 years$2,562$2,000$1,545$1,182$897$737
24 years$2,429$1,874$1,429$1,078$806$655
25 years$2,307$1,759$1,323$985$726$583
26 years$2,195$1,653$1,227$900$654$520
27 years$2,091$1,556$1,140$824$589$464
28 years$1,995$1,466$1,060$755$532$414
29 years$1,905$1,383$986$692$480$369
30 years$1,822$1,306$918$635$434$330
31 years$1,744$1,235$856$584$392$295
32 years$1,671$1,168$799$536$355$264
33 years$1,603$1,106$746$493$321$236
34 years$1,539$1,049$697$454$291$211
35 years$1,478$995$652$418$263$189
36 years$1,421$944$610$385$239$169
37 years$1,368$897$571$354$216$152
38 years$1,317$852$534$327$196$136
39 years$1,269$810$501$301$178$122
40 years$1,224$771$469$278$161$109
41 years$1,180$734$440$256$146$98
42 years$1,139$699$413$237$133$88
43 years$1,100$666$387$218$120$79
44 years$1,063$635$363$202$109$71
45 years$1,028$605$341$186$99$63
46 years$994$577$321$172$90$57
47 years$962$551$301$159$82$51
48 years$931$526$283$147$74$46
49 years$902$502$266$136$68$41
50 years$874$480$250$125$61$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $895,000, adding $5,083 every year, while hoping to spend $53,727 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: 57/34/9 Blend
60$895,000$895,000$895,000$895,000
61$991,533$944,098$930,226$1,045,661
62$1,035,504$933,194$904,223$1,071,829
63$1,082,160$919,954$875,549$1,093,887
64$1,131,717$904,209$844,056$1,116,615
65$1,184,413$885,776$809,593$1,140,084
66$1,240,508$864,464$771,999$1,164,375
67$1,300,286$840,068$731,107$1,189,579
68$1,364,058$812,375$686,742$1,215,796
69$1,432,166$781,156$638,722$1,243,145
70$1,504,984$746,169$586,857$1,271,757
71$1,582,922$707,161$530,946$1,301,779
72$1,666,428$663,860$470,781$1,333,378
73$1,755,997$615,983$406,145$1,366,743
74$1,852,169$563,226$336,812$1,402,084
75$1,955,538$505,272$262,543$1,439,640
76$2,066,756$441,783$183,091$1,479,676
77$2,186,539$372,404$98,197$1,522,491
78$2,315,671$296,758$7,593$1,568,420
79$2,455,018$214,447$0$1,617,837
80$2,605,527$125,052$0$1,679,718
81$2,768,241$28,130$0$1,747,309
82$2,944,306$0$0$1,820,434
83$3,134,981$0$0$1,928,435
84$3,341,652$0$0$2,056,968
85$3,565,840$0$0$2,196,465
86$3,809,220$0$0$2,347,976
87$4,073,635$0$0$2,512,656
88$4,361,110$0$0$2,691,776
89$4,673,874$0$0$2,886,736
90$5,014,380$0$0$3,099,075
91$5,385,327$0$0$3,330,485
92$5,789,684$0$0$3,582,832
93$6,230,719$0$0$3,858,166
94$6,712,030$0$0$4,158,746
95$7,237,577$0$0$4,487,056
96$7,811,719$0$0$4,845,834
97$8,439,255$0$0$5,238,092
98$9,125,467$0$0$5,667,147
99$9,876,173$0$0$6,136,651
100$10,697,779$0$0$6,650,625