Can I retire at age 61 with 908,000?

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 $908,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$74,982$74,314$73,662$73,026$72,405$71,919
2 years$37,120$36,428$35,758$35,109$34,479$33,988
3 years$24,501$23,806$23,138$22,495$21,875$21,395
4 years$18,192$17,500$16,839$16,206$15,601$15,136
5 years$14,408$13,720$13,067$12,448$11,860$11,411
6 years$11,887$11,204$10,560$9,955$9,384$8,952
7 years$10,086$9,409$8,776$8,184$7,632$7,217
8 years$8,736$8,065$7,443$6,866$6,331$5,933
9 years$7,687$7,022$6,410$5,848$5,332$4,950
10 years$6,848$6,190$5,589$5,041$4,543$4,178
11 years$6,162$5,510$4,920$4,387$3,907$3,559
12 years$5,591$4,946$4,366$3,848$3,386$3,053
13 years$5,108$4,470$3,901$3,397$2,953$2,636
14 years$4,694$4,063$3,505$3,016$2,588$2,287
15 years$4,336$3,711$3,165$2,690$2,279$1,992
16 years$4,023$3,405$2,869$2,408$2,014$1,742
17 years$3,747$3,136$2,611$2,164$1,786$1,528
18 years$3,502$2,898$2,383$1,950$1,588$1,343
19 years$3,283$2,686$2,182$1,762$1,415$1,184
20 years$3,086$2,496$2,002$1,596$1,264$1,045
21 years$2,908$2,325$1,842$1,448$1,131$925
22 years$2,747$2,170$1,698$1,317$1,014$819
23 years$2,599$2,029$1,567$1,199$910$727
24 years$2,465$1,901$1,450$1,094$818$645
25 years$2,341$1,784$1,343$999$736$574
26 years$2,227$1,677$1,245$913$663$510
27 years$2,121$1,578$1,156$836$598$454
28 years$2,024$1,487$1,075$766$539$405
29 years$1,933$1,403$1,000$702$487$361
30 years$1,848$1,325$932$645$440$322
31 years$1,769$1,253$869$592$398$287
32 years$1,695$1,185$810$544$360$257
33 years$1,626$1,122$757$500$326$229
34 years$1,561$1,064$707$460$295$205
35 years$1,500$1,009$661$424$267$183
36 years$1,442$958$618$390$242$164
37 years$1,388$910$579$360$219$146
38 years$1,336$864$542$331$199$131
39 years$1,288$822$508$306$180$117
40 years$1,241$782$476$282$164$105
41 years$1,198$744$446$260$148$94
42 years$1,156$709$419$240$135$84
43 years$1,116$676$393$222$122$75
44 years$1,079$644$369$205$111$67
45 years$1,043$614$346$189$101$60
46 years$1,009$586$325$175$91$54
47 years$976$559$306$161$83$48
48 years$945$534$287$149$75$43
49 years$915$510$270$138$68$39
50 years$887$487$254$127$62$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $908,000, adding $4,587 every year, while hoping to spend $33,495 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: 72/18/10 Blend
60$908,000$908,000$908,000$908,000
61$1,005,347$957,223$943,149$1,075,495
62$1,072,255$968,489$939,107$1,133,747
63$1,144,863$979,184$933,806$1,192,926
64$1,223,721$989,245$927,169$1,256,807
65$1,309,427$998,605$919,116$1,325,847
66$1,402,643$1,007,191$909,561$1,400,548
67$1,504,096$1,014,927$898,415$1,481,462
68$1,614,586$1,021,731$885,584$1,569,200
69$1,734,994$1,027,516$870,972$1,664,435
70$1,866,289$1,032,190$854,475$1,767,907
71$2,009,538$1,035,654$835,987$1,880,432
72$2,165,914$1,037,804$815,395$2,002,912
73$2,336,709$1,038,528$792,583$2,136,338
74$2,523,346$1,037,709$767,427$2,281,804
75$2,727,392$1,035,221$739,800$2,440,517
76$2,950,570$1,030,931$709,568$2,613,804
77$3,194,779$1,024,698$676,590$2,803,133
78$3,462,110$1,016,372$640,719$3,010,118
79$3,754,865$1,005,794$601,803$3,236,540
80$4,075,579$992,795$559,681$3,484,362
81$4,427,044$977,198$514,186$3,755,749
82$4,812,334$958,813$465,143$4,053,087
83$5,234,837$937,439$412,370$4,379,007
84$5,698,282$912,866$355,676$4,736,408
85$6,206,777$884,866$294,862$5,128,486
86$6,764,848$853,204$229,719$5,558,767
87$7,377,479$817,628$160,031$6,031,135
88$8,050,161$777,870$85,571$6,549,874
89$8,788,941$733,650$6,102$7,119,705
90$9,600,484$684,670$0$7,745,833
91$10,492,129$630,614$0$8,442,393
92$11,471,962$571,150$0$9,208,555
93$12,548,892$505,926$0$10,050,668
94$13,732,732$434,570$0$10,976,449
95$15,034,296$356,689$0$11,994,402
96$16,465,495$271,867$0$13,113,901
97$18,039,453$179,667$0$14,345,277
98$19,770,632$79,625$0$15,699,914
99$21,674,962$0$0$17,190,362
100$23,769,998$0$0$18,836,145