Can I retire at age 61 with 897,000?

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 $897,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$74,073$73,414$72,770$72,142$71,528$70,170
2 years$36,670$35,987$35,325$34,683$34,061$32,698
3 years$24,204$23,518$22,858$22,222$21,610$20,284
4 years$17,972$17,288$16,635$16,010$15,412$14,135
5 years$14,234$13,554$12,909$12,297$11,716$10,490
6 years$11,743$11,068$10,432$9,834$9,271$8,097
7 years$9,964$9,295$8,669$8,085$7,539$6,419
8 years$8,630$7,967$7,352$6,782$6,255$5,187
9 years$7,594$6,937$6,333$5,777$5,267$4,252
10 years$6,765$6,115$5,521$4,980$4,488$3,524
11 years$6,087$5,444$4,861$4,334$3,860$2,946
12 years$5,523$4,886$4,314$3,802$3,345$2,480
13 years$5,046$4,415$3,854$3,356$2,917$2,099
14 years$4,637$4,013$3,463$2,979$2,557$1,785
15 years$4,283$3,666$3,126$2,657$2,251$1,524
16 years$3,974$3,364$2,835$2,379$1,990$1,305
17 years$3,701$3,098$2,579$2,138$1,764$1,121
18 years$3,459$2,863$2,355$1,926$1,569$964
19 years$3,243$2,653$2,156$1,741$1,398$832
20 years$3,049$2,465$1,978$1,576$1,249$718
21 years$2,873$2,296$1,820$1,431$1,118$621
22 years$2,713$2,144$1,677$1,301$1,002$538
23 years$2,568$2,005$1,548$1,185$899$466
24 years$2,435$1,878$1,432$1,081$808$404
25 years$2,313$1,763$1,326$987$727$351
26 years$2,200$1,657$1,230$902$655$305
27 years$2,096$1,559$1,142$826$591$265
28 years$1,999$1,469$1,062$757$533$231
29 years$1,909$1,386$988$694$481$201
30 years$1,826$1,309$920$637$435$175
31 years$1,748$1,237$858$585$393$152
32 years$1,675$1,171$801$538$356$132
33 years$1,606$1,109$748$494$322$115
34 years$1,542$1,051$698$455$291$101
35 years$1,482$997$653$419$264$88
36 years$1,425$946$611$386$239$76
37 years$1,371$899$572$355$217$67
38 years$1,320$854$535$327$196$58
39 years$1,272$812$502$302$178$51
40 years$1,226$773$470$278$162$44
41 years$1,183$735$441$257$147$39
42 years$1,142$700$414$237$133$34
43 years$1,103$667$388$219$121$29
44 years$1,066$636$364$202$110$26
45 years$1,030$607$342$187$99$22
46 years$997$579$321$172$90$19
47 years$964$552$302$159$82$17
48 years$933$527$284$147$74$15
49 years$904$503$267$136$68$13
50 years$876$481$251$126$61$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $897,000, adding $5,080 every year, while hoping to spend $37,301 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: 49/26/25 Blend
60$897,000$897,000$897,000$897,000
61$993,734$946,193$932,290$1,035,169
62$1,055,407$952,869$923,833$1,071,301
63$1,122,120$958,621$913,844$1,106,402
64$1,194,349$963,366$902,230$1,143,789
65$1,272,615$967,013$888,896$1,183,695
66$1,357,491$969,466$873,744$1,226,378
67$1,449,610$970,625$856,670$1,272,126
68$1,549,665$970,380$837,563$1,321,254
69$1,658,420$968,618$816,310$1,374,115
70$1,776,715$965,216$792,793$1,431,097
71$1,905,473$960,045$766,885$1,492,634
72$2,045,712$952,968$738,456$1,559,202
73$2,198,551$943,840$707,370$1,631,332
74$2,365,221$932,506$673,485$1,709,609
75$2,547,077$918,802$636,650$1,794,682
76$2,745,612$902,556$596,711$1,887,270
77$2,962,467$883,584$553,504$1,988,166
78$3,199,451$861,692$506,858$2,098,251
79$3,458,553$836,674$456,597$2,218,498
80$3,741,967$808,311$402,533$2,349,982
81$4,052,103$776,374$344,474$2,493,893
82$4,391,620$740,619$282,216$2,651,547
83$4,763,442$700,787$215,548$2,824,400
84$5,170,793$656,605$144,248$3,014,060
85$5,617,220$607,785$68,087$3,222,304
86$6,106,632$554,021$0$3,451,098
87$6,643,332$494,992$0$3,706,131
88$7,232,060$430,355$0$4,005,895
89$7,878,039$359,751$0$4,334,930
90$8,587,019$282,800$0$4,696,237
91$9,365,336$199,098$0$5,093,126
92$10,219,969$108,222$0$5,529,249
93$11,158,604$9,723$0$6,008,635
94$12,189,710$0$0$6,535,726
95$13,322,616$0$0$7,143,139
96$14,567,599$0$0$7,813,805
97$15,935,982$0$0$8,551,054
98$17,440,239$0$0$9,361,620
99$19,094,112$0$0$10,252,921
100$20,912,741$0$0$11,233,133