Can I retire at age 61 with 898,000?

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 $898,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$74,156$73,495$72,851$72,222$71,608$70,772
2 years$36,711$36,027$35,365$34,722$34,099$33,257
3 years$24,231$23,544$22,883$22,247$21,634$20,813
4 years$17,992$17,307$16,653$16,028$15,429$14,635
5 years$14,250$13,569$12,924$12,311$11,729$10,965
6 years$11,756$11,080$10,444$9,845$9,281$8,546
7 years$9,975$9,305$8,679$8,094$7,548$6,844
8 years$8,640$7,976$7,361$6,790$6,262$5,588
9 years$7,602$6,945$6,340$5,784$5,273$4,630
10 years$6,772$6,122$5,527$4,985$4,493$3,880
11 years$6,094$5,450$4,866$4,339$3,864$3,280
12 years$5,529$4,891$4,318$3,806$3,349$2,793
13 years$5,051$4,420$3,858$3,360$2,920$2,392
14 years$4,642$4,018$3,467$2,983$2,560$2,059
15 years$4,288$3,670$3,130$2,660$2,254$1,780
16 years$3,978$3,368$2,838$2,382$1,992$1,543
17 years$3,706$3,101$2,582$2,140$1,766$1,342
18 years$3,463$2,866$2,357$1,928$1,570$1,170
19 years$3,247$2,656$2,158$1,743$1,400$1,022
20 years$3,052$2,468$1,980$1,578$1,250$895
21 years$2,876$2,299$1,822$1,432$1,119$785
22 years$2,716$2,146$1,679$1,302$1,003$689
23 years$2,571$2,007$1,550$1,186$900$605
24 years$2,438$1,881$1,434$1,082$809$533
25 years$2,315$1,765$1,328$988$728$469
26 years$2,202$1,659$1,231$903$656$413
27 years$2,098$1,561$1,144$827$591$365
28 years$2,001$1,471$1,063$758$534$322
29 years$1,912$1,388$989$695$482$284
30 years$1,828$1,310$921$638$435$251
31 years$1,750$1,239$859$586$394$222
32 years$1,677$1,172$802$538$356$196
33 years$1,608$1,110$748$495$322$173
34 years$1,544$1,052$699$455$292$153
35 years$1,483$998$654$419$264$136
36 years$1,426$947$612$386$239$120
37 years$1,372$900$572$356$217$106
38 years$1,322$855$536$328$197$94
39 years$1,273$813$502$302$178$83
40 years$1,228$773$471$279$162$74
41 years$1,184$736$441$257$147$65
42 years$1,143$701$414$237$133$58
43 years$1,104$668$389$219$121$51
44 years$1,067$637$365$202$110$45
45 years$1,031$607$342$187$100$40
46 years$998$579$322$173$90$36
47 years$965$553$302$159$82$32
48 years$935$528$284$147$75$28
49 years$905$504$267$136$68$25
50 years$877$481$251$126$62$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $898,000, adding $5,601 every year, while hoping to spend $36,672 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: 47/31/22 Blend
60$898,000$898,000$898,000$898,000
61$995,373$947,779$933,860$1,035,677
62$1,057,883$955,202$926,126$1,071,866
63$1,125,539$961,759$916,903$1,107,030
64$1,198,828$967,370$906,104$1,144,448
65$1,278,286$971,947$893,635$1,184,348
66$1,364,498$975,400$879,400$1,226,982
67$1,458,113$977,631$863,296$1,272,631
68$1,559,842$978,536$845,217$1,321,605
69$1,670,466$978,005$825,053$1,374,249
70$1,790,848$975,921$802,685$1,430,943
71$1,921,932$972,159$777,994$1,492,111
72$2,064,763$966,588$750,850$1,558,220
73$2,220,486$959,069$721,121$1,629,788
74$2,390,364$949,452$688,667$1,707,391
75$2,575,787$937,580$653,342$1,791,662
76$2,778,283$923,287$614,995$1,883,306
77$2,999,536$906,397$573,466$1,983,100
78$3,241,400$886,722$528,589$2,091,907
79$3,505,916$864,064$480,189$2,210,680
80$3,795,329$838,213$428,086$2,340,473
81$4,112,115$808,948$372,089$2,482,451
82$4,458,997$776,033$312,000$2,637,906
83$4,838,976$739,220$247,613$2,808,262
84$5,255,356$698,245$178,712$2,995,097
85$5,711,774$652,831$105,071$3,200,154
86$6,212,239$602,684$26,455$3,425,359
87$6,761,164$547,492$0$3,672,842
88$7,363,410$486,927$0$3,958,439
89$8,024,333$420,641$0$4,278,770
90$8,749,830$348,268$0$4,630,554
91$9,546,399$269,419$0$5,017,028
92$10,421,196$183,686$0$5,441,767
93$11,382,107$90,635$0$5,908,713
94$12,437,816$0$0$6,422,215
95$13,597,891$0$0$6,990,549
96$14,872,874$0$0$7,649,264
97$16,274,376$0$0$8,373,458
98$17,815,193$0$0$9,169,754
99$19,509,419$0$0$10,045,452
100$21,372,585$0$0$11,008,593