Can I retire at age 61 with 905,000?

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 $905,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$74,734$74,068$73,419$72,785$72,166$69,744
2 years$36,997$36,308$35,640$34,993$34,365$31,949
3 years$24,420$23,728$23,062$22,420$21,802$19,468
4 years$18,132$17,442$16,783$16,152$15,550$13,315
5 years$14,361$13,675$13,024$12,407$11,821$9,691
6 years$11,847$11,167$10,526$9,922$9,353$7,331
7 years$10,053$9,378$8,747$8,157$7,607$5,691
8 years$8,707$8,038$7,418$6,843$6,310$4,500
9 years$7,661$6,999$6,389$5,829$5,314$3,607
10 years$6,825$6,169$5,570$5,024$4,528$2,922
11 years$6,141$5,492$4,904$4,373$3,894$2,385
12 years$5,572$4,929$4,352$3,835$3,375$1,960
13 years$5,091$4,455$3,888$3,386$2,943$1,618
14 years$4,678$4,049$3,494$3,006$2,580$1,341
15 years$4,322$3,699$3,154$2,681$2,271$1,116
16 years$4,009$3,394$2,860$2,400$2,007$931
17 years$3,734$3,126$2,602$2,157$1,780$778
18 years$3,490$2,888$2,376$1,944$1,583$651
19 years$3,272$2,677$2,175$1,756$1,411$546
20 years$3,076$2,487$1,996$1,591$1,260$459
21 years$2,899$2,317$1,836$1,443$1,128$386
22 years$2,738$2,163$1,692$1,312$1,011$324
23 years$2,591$2,023$1,562$1,195$907$273
24 years$2,457$1,895$1,445$1,090$815$230
25 years$2,333$1,779$1,338$996$734$194
26 years$2,220$1,672$1,241$910$661$164
27 years$2,114$1,573$1,152$833$596$138
28 years$2,017$1,482$1,071$763$538$117
29 years$1,927$1,398$997$700$486$98
30 years$1,842$1,321$929$643$439$83
31 years$1,763$1,248$866$590$397$70
32 years$1,690$1,181$808$542$359$59
33 years$1,621$1,119$754$499$325$50
34 years$1,556$1,060$705$459$294$42
35 years$1,495$1,006$659$422$266$36
36 years$1,437$955$616$389$241$30
37 years$1,383$907$577$358$219$25
38 years$1,332$862$540$330$198$22
39 years$1,283$819$506$305$180$18
40 years$1,237$779$474$281$163$15
41 years$1,194$742$445$259$148$13
42 years$1,152$707$417$239$134$11
43 years$1,113$673$392$221$122$9
44 years$1,075$642$368$204$111$8
45 years$1,040$612$345$188$100$7
46 years$1,005$584$324$174$91$6
47 years$973$557$305$161$83$5
48 years$942$532$286$149$75$4
49 years$912$508$269$137$68$3
50 years$884$485$253$127$62$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $905,000, adding $4,733 every year, while hoping to spend $47,429 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: 58/22/20 Blend
60$905,000$905,000$905,000$905,000
61$1,002,192$954,227$940,200$1,054,743
62$1,053,952$950,520$921,232$1,087,291
63$1,109,401$945,042$900,040$1,117,209
64$1,168,866$937,656$876,498$1,148,772
65$1,232,706$928,216$850,476$1,182,148
66$1,301,313$916,569$821,837$1,217,525
67$1,375,118$902,552$790,440$1,255,111
68$1,454,595$885,992$756,134$1,295,139
69$1,540,263$866,706$718,765$1,337,867
70$1,632,695$844,499$678,169$1,383,581
71$1,732,518$819,167$634,175$1,432,600
72$1,840,421$790,493$586,606$1,485,279
73$1,957,163$758,246$535,276$1,542,010
74$2,083,576$722,183$479,991$1,603,229
75$2,220,577$682,046$420,547$1,669,422
76$2,369,173$637,564$356,733$1,741,125
77$2,530,473$588,448$288,327$1,818,934
78$2,705,693$534,394$215,098$1,903,512
79$2,896,175$475,081$136,805$1,995,589
80$3,103,393$410,168$53,196$2,095,978
81$3,328,969$339,296$0$2,205,579
82$3,574,689$262,086$0$2,333,078
83$3,842,516$178,137$0$2,484,504
84$4,134,612$87,026$0$2,649,777
85$4,453,357$0$0$2,830,314
86$4,801,370$0$0$3,030,512
87$5,181,535$0$0$3,272,290
88$5,597,024$0$0$3,536,609
89$6,051,333$0$0$3,825,701
90$6,548,309$0$0$4,142,023
91$7,092,189$0$0$4,488,282
92$7,687,636$0$0$4,867,458
93$8,339,789$0$0$5,282,834
94$9,054,304$0$0$5,738,023
95$9,837,410$0$0$6,237,006
96$10,695,970$0$0$6,784,166
97$11,637,540$0$0$7,384,334
98$12,670,444$0$0$8,042,826
99$13,803,848$0$0$8,765,501
100$15,047,852$0$0$9,558,812