Can I retire at age 61 with 903,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $903,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$74,569$73,905$73,257$72,624$72,006$71,018
2 years$36,915$36,228$35,561$34,915$34,289$33,295
3 years$24,366$23,675$23,011$22,371$21,754$20,786
4 years$18,092$17,404$16,746$16,117$15,515$14,580
5 years$14,329$13,645$12,995$12,379$11,794$10,894
6 years$11,821$11,142$10,502$9,900$9,333$8,469
7 years$10,030$9,357$8,727$8,139$7,590$6,763
8 years$8,688$8,021$7,402$6,828$6,297$5,506
9 years$7,644$6,983$6,375$5,816$5,303$4,549
10 years$6,810$6,156$5,558$5,013$4,518$3,800
11 years$6,128$5,480$4,893$4,363$3,886$3,203
12 years$5,560$4,919$4,342$3,827$3,367$2,718
13 years$5,080$4,445$3,880$3,379$2,936$2,321
14 years$4,668$4,040$3,486$2,999$2,574$1,991
15 years$4,312$3,691$3,147$2,675$2,266$1,715
16 years$4,001$3,386$2,854$2,395$2,003$1,482
17 years$3,726$3,119$2,597$2,152$1,776$1,284
18 years$3,483$2,882$2,370$1,939$1,579$1,116
19 years$3,265$2,671$2,170$1,752$1,408$971
20 years$3,069$2,482$1,991$1,587$1,257$847
21 years$2,892$2,312$1,832$1,440$1,125$740
22 years$2,732$2,158$1,688$1,310$1,008$647
23 years$2,585$2,018$1,559$1,193$905$567
24 years$2,451$1,891$1,442$1,088$814$497
25 years$2,328$1,775$1,335$993$732$436
26 years$2,215$1,668$1,238$908$660$382
27 years$2,110$1,570$1,150$831$595$336
28 years$2,013$1,479$1,069$762$537$295
29 years$1,922$1,395$995$699$484$260
30 years$1,838$1,318$927$641$438$228
31 years$1,760$1,246$864$589$396$201
32 years$1,686$1,179$806$541$358$177
33 years$1,617$1,116$753$498$324$156
34 years$1,552$1,058$703$458$293$137
35 years$1,492$1,003$657$421$266$121
36 years$1,434$952$615$388$241$107
37 years$1,380$905$576$358$218$94
38 years$1,329$860$539$330$198$83
39 years$1,280$817$505$304$179$73
40 years$1,235$778$473$280$163$64
41 years$1,191$740$444$259$148$57
42 years$1,150$705$416$239$134$50
43 years$1,110$672$391$220$122$44
44 years$1,073$640$367$203$110$39
45 years$1,037$611$344$188$100$34
46 years$1,003$583$323$174$91$30
47 years$971$556$304$160$83$27
48 years$940$531$286$148$75$24
49 years$910$507$268$137$68$21
50 years$882$484$252$127$62$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $903,000, adding $3,931 every year, while hoping to spend $57,025 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: 53/29/18 Blend
60$903,000$903,000$903,000$903,000
61$999,161$951,302$937,305$1,047,031
62$1,040,401$937,241$908,031$1,066,204
63$1,083,937$920,581$875,865$1,080,721
64$1,129,941$901,133$840,649$1,095,270
65$1,178,605$878,698$802,221$1,109,869
66$1,230,135$853,066$760,407$1,124,546
67$1,284,757$824,014$715,029$1,139,330
68$1,342,718$791,308$665,899$1,154,259
69$1,404,290$754,696$612,821$1,169,380
70$1,469,768$713,916$555,590$1,184,747
71$1,539,474$668,688$493,993$1,200,424
72$1,613,764$618,718$427,805$1,216,487
73$1,693,026$563,692$356,794$1,233,025
74$1,777,683$503,282$280,716$1,250,140
75$1,868,203$437,140$199,316$1,267,951
76$1,965,096$364,895$112,329$1,286,595
77$2,068,921$286,161$19,478$1,306,229
78$2,180,294$200,525$0$1,327,034
79$2,299,886$107,553$0$1,364,505
80$2,428,440$6,788$0$1,408,572
81$2,566,765$0$0$1,455,818
82$2,715,755$0$0$1,539,237
83$2,876,387$0$0$1,631,578
84$3,049,738$0$0$1,731,301
85$3,236,990$0$0$1,839,094
86$3,439,441$0$0$1,955,716
87$3,658,519$0$0$2,081,997
88$3,895,793$0$0$2,218,853
89$4,152,988$0$0$2,367,290
90$4,432,002$0$0$2,528,414
91$4,734,920$0$0$2,703,442
92$5,064,038$0$0$2,893,712
93$5,421,879$0$0$3,100,697
94$5,811,222$0$0$3,326,018
95$6,235,122$0$0$3,571,456
96$6,696,941$0$0$3,838,973
97$7,200,379$0$0$4,130,730
98$7,749,508$0$0$4,449,101
99$8,348,812$0$0$4,796,702
100$9,003,224$0$0$5,176,413