Can I retire at age 61 with 896,000?

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 $896,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$73,991$73,332$72,689$72,061$71,448$70,820
2 years$36,629$35,947$35,286$34,645$34,023$33,390
3 years$24,177$23,492$22,832$22,197$21,586$20,967
4 years$17,952$17,269$16,616$15,992$15,395$14,796
5 years$14,218$13,539$12,895$12,283$11,703$11,126
6 years$11,729$11,056$10,421$9,823$9,260$8,705
7 years$9,953$9,285$8,660$8,076$7,531$6,998
8 years$8,621$7,959$7,344$6,775$6,248$5,737
9 years$7,585$6,929$6,326$5,771$5,261$4,773
10 years$6,757$6,108$5,515$4,974$4,483$4,016
11 years$6,080$5,437$4,855$4,329$3,856$3,410
12 years$5,517$4,880$4,309$3,797$3,341$2,917
13 years$5,040$4,410$3,850$3,352$2,914$2,510
14 years$4,632$4,009$3,459$2,976$2,554$2,170
15 years$4,279$3,662$3,123$2,654$2,249$1,884
16 years$3,970$3,360$2,831$2,376$1,987$1,642
17 years$3,697$3,094$2,576$2,135$1,762$1,435
18 years$3,456$2,859$2,352$1,924$1,567$1,258
19 years$3,239$2,650$2,153$1,739$1,397$1,104
20 years$3,045$2,463$1,976$1,575$1,247$972
21 years$2,870$2,294$1,818$1,429$1,116$856
22 years$2,710$2,141$1,675$1,299$1,001$756
23 years$2,565$2,003$1,547$1,183$898$668
24 years$2,432$1,876$1,430$1,079$807$591
25 years$2,310$1,761$1,325$986$726$523
26 years$2,197$1,655$1,229$901$654$464
27 years$2,093$1,557$1,141$825$590$411
28 years$1,997$1,468$1,061$756$532$365
29 years$1,907$1,384$987$693$481$324
30 years$1,824$1,308$919$636$434$288
31 years$1,746$1,236$857$584$393$256
32 years$1,673$1,170$800$537$355$227
33 years$1,605$1,108$747$494$321$202
34 years$1,540$1,050$698$454$291$180
35 years$1,480$996$652$418$264$160
36 years$1,423$945$610$385$239$143
37 years$1,369$898$571$355$216$127
38 years$1,319$853$535$327$196$113
39 years$1,271$811$501$302$178$101
40 years$1,225$772$470$278$161$90
41 years$1,182$735$440$257$146$80
42 years$1,141$700$413$237$133$71
43 years$1,102$667$388$219$121$64
44 years$1,065$635$364$202$109$57
45 years$1,029$606$342$186$99$50
46 years$995$578$321$172$90$45
47 years$963$552$301$159$82$40
48 years$932$527$283$147$74$36
49 years$903$503$266$136$68$32
50 years$875$480$250$126$61$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $896,000, adding $4,054 every year, while hoping to spend $41,119 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: 57/26/17 Blend
60$896,000$896,000$896,000$896,000
61$991,574$944,086$930,198$1,043,448
62$1,048,964$946,596$917,609$1,081,640
63$1,110,830$947,850$903,220$1,118,420
64$1,177,584$947,745$886,928$1,157,569
65$1,249,682$946,168$868,624$1,199,323
66$1,327,621$943,002$848,194$1,243,942
67$1,411,949$938,120$825,520$1,291,716
68$1,503,269$931,389$800,476$1,342,966
69$1,602,245$922,669$772,934$1,398,046
70$1,709,603$911,809$742,757$1,457,349
71$1,826,146$898,651$709,802$1,521,311
72$1,952,754$883,027$673,922$1,590,413
73$2,090,397$864,757$634,961$1,665,187
74$2,240,141$843,654$592,756$1,746,225
75$2,403,160$819,517$547,137$1,834,179
76$2,580,744$792,135$497,928$1,929,770
77$2,774,314$761,284$444,943$2,033,799
78$2,985,433$726,726$387,988$2,147,148
79$3,215,824$688,212$326,862$2,270,794
80$3,467,379$645,476$261,353$2,405,820
81$3,742,184$598,237$191,241$2,553,418
82$4,042,536$546,199$116,296$2,714,911
83$4,370,960$489,049$36,278$2,891,758
84$4,730,241$426,455$0$3,085,573
85$5,123,441$358,067$0$3,307,048
86$5,553,936$283,516$0$3,556,847
87$6,025,440$202,411$0$3,830,609
88$6,542,045$114,339$0$4,130,792
89$7,108,257$18,865$0$4,460,107
90$7,729,039$0$0$4,821,546
91$8,409,856$0$0$5,242,576
92$9,156,730$0$0$5,710,457
93$9,976,289$0$0$6,223,956
94$10,875,840$0$0$6,787,659
95$11,863,426$0$0$7,406,619
96$12,947,912$0$0$8,086,401
97$14,139,058$0$0$8,833,137
98$15,447,622$0$0$9,653,581
99$16,885,450$0$0$10,555,173
100$18,465,594$0$0$11,546,111