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%17%
1 years$74,982$74,314$73,662$73,026$72,405$70,341
2 years$37,120$36,428$35,758$35,109$34,479$32,415
3 years$24,501$23,806$23,138$22,495$21,875$19,877
4 years$18,192$17,500$16,839$16,206$15,601$13,684
5 years$14,408$13,720$13,067$12,448$11,860$10,028
6 years$11,887$11,204$10,560$9,955$9,384$7,640
7 years$10,086$9,409$8,776$8,184$7,632$5,975
8 years$8,736$8,065$7,443$6,866$6,331$4,761
9 years$7,687$7,022$6,410$5,848$5,332$3,847
10 years$6,848$6,190$5,589$5,041$4,543$3,141
11 years$6,162$5,510$4,920$4,387$3,907$2,586
12 years$5,591$4,946$4,366$3,848$3,386$2,143
13 years$5,108$4,470$3,901$3,397$2,953$1,785
14 years$4,694$4,063$3,505$3,016$2,588$1,493
15 years$4,336$3,711$3,165$2,690$2,279$1,254
16 years$4,023$3,405$2,869$2,408$2,014$1,055
17 years$3,747$3,136$2,611$2,164$1,786$891
18 years$3,502$2,898$2,383$1,950$1,588$753
19 years$3,283$2,686$2,182$1,762$1,415$638
20 years$3,086$2,496$2,002$1,596$1,264$541
21 years$2,908$2,325$1,842$1,448$1,131$459
22 years$2,747$2,170$1,698$1,317$1,014$390
23 years$2,599$2,029$1,567$1,199$910$332
24 years$2,465$1,901$1,450$1,094$818$283
25 years$2,341$1,784$1,343$999$736$241
26 years$2,227$1,677$1,245$913$663$205
27 years$2,121$1,578$1,156$836$598$175
28 years$2,024$1,487$1,075$766$539$149
29 years$1,933$1,403$1,000$702$487$127
30 years$1,848$1,325$932$645$440$109
31 years$1,769$1,253$869$592$398$93
32 years$1,695$1,185$810$544$360$79
33 years$1,626$1,122$757$500$326$68
34 years$1,561$1,064$707$460$295$58
35 years$1,500$1,009$661$424$267$49
36 years$1,442$958$618$390$242$42
37 years$1,388$910$579$360$219$36
38 years$1,336$864$542$331$199$31
39 years$1,288$822$508$306$180$26
40 years$1,241$782$476$282$164$22
41 years$1,198$744$446$260$148$19
42 years$1,156$709$419$240$135$16
43 years$1,116$676$393$222$122$14
44 years$1,079$644$369$205$111$12
45 years$1,043$614$346$189$101$10
46 years$1,009$586$325$175$91$9
47 years$976$559$306$161$83$7
48 years$945$534$287$149$75$6
49 years$915$510$270$138$68$5
50 years$887$487$254$127$62$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $908,000, adding $6,678 every year, while hoping to spend $44,177 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: 61/32/7 Blend
60$908,000$908,000$908,000$908,000
61$1,007,504$959,380$945,306$1,067,145
62$1,063,266$959,386$929,970$1,107,846
63$1,123,234$957,911$912,640$1,146,528
64$1,187,792$954,837$893,201$1,187,609
65$1,257,360$950,037$871,536$1,231,322
66$1,332,398$943,376$847,520$1,277,921
67$1,413,415$934,713$821,024$1,327,692
68$1,500,965$923,897$791,911$1,380,947
69$1,595,663$910,767$760,039$1,438,034
70$1,698,180$895,154$725,260$1,499,339
71$1,809,256$876,879$687,418$1,565,287
72$1,929,705$855,750$646,351$1,636,348
73$2,060,421$831,568$601,889$1,713,046
74$2,202,387$804,117$553,855$1,795,956
75$2,356,685$773,174$502,064$1,885,716
76$2,524,506$738,498$446,322$1,983,034
77$2,707,158$699,838$386,427$2,088,690
78$2,906,084$656,925$322,168$2,203,547
79$3,122,868$609,478$253,324$2,328,561
80$3,359,256$557,198$179,666$2,464,789
81$3,617,167$499,768$100,952$2,613,397
82$3,898,717$436,855$16,932$2,775,677
83$4,206,231$368,106$0$2,953,057
84$4,542,272$293,149$0$3,152,545
85$4,909,660$211,589$0$3,372,156
86$5,311,500$123,012$0$3,612,571
87$5,751,210$26,977$0$3,875,941
88$6,232,557$0$0$4,164,641
89$6,759,684$0$0$4,508,400
90$7,337,157$0$0$4,895,468
91$7,970,005$0$0$5,319,724
92$8,663,763$0$0$5,784,889
93$9,424,530$0$0$6,295,062
94$10,259,023$0$0$6,854,755
95$11,174,640$0$0$7,468,942
96$12,179,530$0$0$8,143,098
97$13,282,668$0$0$8,883,257
98$14,493,942$0$0$9,696,062
99$15,824,244$0$0$10,588,836
100$17,285,573$0$0$11,569,641