Can I retire at age 61 with 906,000?

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 $906,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$74,817$74,150$73,500$72,865$72,246$70,017
2 years$37,038$36,348$35,680$35,031$34,403$32,177
3 years$24,447$23,754$23,087$22,445$21,826$19,673
4 years$18,152$17,462$16,801$16,170$15,567$13,503
5 years$14,377$13,690$13,039$12,420$11,834$9,864
6 years$11,860$11,179$10,537$9,933$9,364$7,491
7 years$10,064$9,388$8,756$8,166$7,615$5,838
8 years$8,717$8,047$7,426$6,850$6,317$4,636
9 years$7,670$7,007$6,396$5,835$5,320$3,732
10 years$6,833$6,176$5,576$5,030$4,533$3,036
11 years$6,148$5,498$4,909$4,377$3,899$2,490
12 years$5,578$4,935$4,357$3,840$3,378$2,055
13 years$5,096$4,460$3,893$3,390$2,946$1,705
14 years$4,684$4,054$3,497$3,009$2,583$1,420
15 years$4,326$3,703$3,158$2,684$2,274$1,187
16 years$4,014$3,398$2,863$2,403$2,010$995
17 years$3,739$3,129$2,605$2,159$1,782$836
18 years$3,494$2,891$2,378$1,946$1,584$704
19 years$3,276$2,680$2,177$1,758$1,412$593
20 years$3,079$2,490$1,998$1,592$1,261$501
21 years$2,902$2,319$1,838$1,445$1,129$423
22 years$2,741$2,165$1,694$1,314$1,012$358
23 years$2,594$2,025$1,564$1,197$908$303
24 years$2,459$1,897$1,446$1,091$816$257
25 years$2,336$1,780$1,340$997$735$218
26 years$2,222$1,673$1,242$911$662$185
27 years$2,117$1,575$1,154$834$597$157
28 years$2,019$1,484$1,073$764$538$133
29 years$1,929$1,400$998$701$486$113
30 years$1,844$1,322$930$643$439$96
31 years$1,765$1,250$867$591$397$81
32 years$1,692$1,183$809$543$359$69
33 years$1,623$1,120$755$499$325$59
34 years$1,558$1,061$705$459$294$50
35 years$1,496$1,007$660$423$267$42
36 years$1,439$956$617$389$242$36
37 years$1,385$908$578$359$219$31
38 years$1,333$863$541$331$198$26
39 years$1,285$820$507$305$180$22
40 years$1,239$780$475$281$163$19
41 years$1,195$743$445$260$148$16
42 years$1,153$707$418$239$134$14
43 years$1,114$674$392$221$122$12
44 years$1,076$642$368$204$111$10
45 years$1,041$613$345$189$100$8
46 years$1,007$584$324$174$91$7
47 years$974$558$305$161$83$6
48 years$943$532$286$149$75$5
49 years$913$508$269$137$68$4
50 years$885$486$253$127$62$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $906,000, adding $4,782 every year, while hoping to spend $23,812 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: 49/23/28 Blend
60$906,000$906,000$906,000$906,000
61$1,003,345$955,327$941,284$1,044,318
62$1,080,350$976,802$947,481$1,095,012
63$1,164,412$998,531$953,088$1,147,325
64$1,256,225$1,020,502$958,059$1,203,700
65$1,356,553$1,042,701$962,348$1,264,532
66$1,466,240$1,065,111$965,904$1,330,259
67$1,586,211$1,087,716$968,676$1,401,360
68$1,717,487$1,110,496$970,610$1,478,368
69$1,861,191$1,133,432$971,646$1,561,867
70$2,018,562$1,156,499$971,726$1,652,503
71$2,190,963$1,179,675$970,785$1,750,988
72$2,379,892$1,202,930$968,758$1,858,105
73$2,587,005$1,226,237$965,575$1,974,720
74$2,814,120$1,249,564$961,163$2,101,789
75$3,063,244$1,272,875$955,445$2,240,362
76$3,336,583$1,296,135$948,341$2,391,600
77$3,636,571$1,319,302$939,767$2,556,783
78$3,965,887$1,342,334$929,635$2,737,321
79$4,327,482$1,365,183$917,852$2,934,771
80$4,724,608$1,387,800$904,323$3,150,849
81$5,160,846$1,410,130$888,946$3,387,445
82$5,640,142$1,432,116$871,615$3,646,646
83$6,166,842$1,453,695$852,220$3,930,752
84$6,745,734$1,474,800$830,644$4,242,299
85$7,382,095$1,495,361$806,766$4,584,083
86$8,081,736$1,515,301$780,459$4,959,189
87$8,851,060$1,534,538$751,592$5,371,014
88$9,697,122$1,552,984$720,024$5,823,309
89$10,627,695$1,570,547$685,612$6,320,205
90$11,651,343$1,587,127$648,203$6,866,259
91$12,777,501$1,602,617$607,638$7,466,495
92$14,016,565$1,616,904$563,753$8,126,451
93$15,379,990$1,629,868$516,375$8,852,234
94$16,880,397$1,641,380$465,321$9,650,575
95$18,531,693$1,651,302$410,405$10,528,896
96$20,349,200$1,659,490$351,428$11,495,379
97$22,349,802$1,665,789$288,184$12,559,044
98$24,552,102$1,670,033$220,458$13,729,834
99$26,976,599$1,672,047$148,027$15,018,712
100$29,645,881$1,671,646$70,654$16,437,762