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%15.8%
1 years$74,982$74,314$73,662$73,026$72,405$70,684
2 years$37,120$36,428$35,758$35,109$34,479$32,754
3 years$24,501$23,806$23,138$22,495$21,875$20,201
4 years$18,192$17,500$16,839$16,206$15,601$13,992
5 years$14,408$13,720$13,067$12,448$11,860$10,319
6 years$11,887$11,204$10,560$9,955$9,384$7,913
7 years$10,086$9,409$8,776$8,184$7,632$6,231
8 years$8,736$8,065$7,443$6,866$6,331$5,000
9 years$7,687$7,022$6,410$5,848$5,332$4,069
10 years$6,848$6,190$5,589$5,041$4,543$3,348
11 years$6,162$5,510$4,920$4,387$3,907$2,777
12 years$5,591$4,946$4,366$3,848$3,386$2,320
13 years$5,108$4,470$3,901$3,397$2,953$1,948
14 years$4,694$4,063$3,505$3,016$2,588$1,643
15 years$4,336$3,711$3,165$2,690$2,279$1,391
16 years$4,023$3,405$2,869$2,408$2,014$1,181
17 years$3,747$3,136$2,611$2,164$1,786$1,005
18 years$3,502$2,898$2,383$1,950$1,588$858
19 years$3,283$2,686$2,182$1,762$1,415$733
20 years$3,086$2,496$2,002$1,596$1,264$627
21 years$2,908$2,325$1,842$1,448$1,131$538
22 years$2,747$2,170$1,698$1,317$1,014$461
23 years$2,599$2,029$1,567$1,199$910$396
24 years$2,465$1,901$1,450$1,094$818$340
25 years$2,341$1,784$1,343$999$736$293
26 years$2,227$1,677$1,245$913$663$252
27 years$2,121$1,578$1,156$836$598$217
28 years$2,024$1,487$1,075$766$539$187
29 years$1,933$1,403$1,000$702$487$161
30 years$1,848$1,325$932$645$440$139
31 years$1,769$1,253$869$592$398$120
32 years$1,695$1,185$810$544$360$103
33 years$1,626$1,122$757$500$326$89
34 years$1,561$1,064$707$460$295$77
35 years$1,500$1,009$661$424$267$66
36 years$1,442$958$618$390$242$57
37 years$1,388$910$579$360$219$49
38 years$1,336$864$542$331$199$43
39 years$1,288$822$508$306$180$37
40 years$1,241$782$476$282$164$32
41 years$1,198$744$446$260$148$27
42 years$1,156$709$419$240$135$24
43 years$1,116$676$393$222$122$20
44 years$1,079$644$369$205$111$18
45 years$1,043$614$346$189$101$15
46 years$1,009$586$325$175$91$13
47 years$976$559$306$161$83$11
48 years$945$534$287$149$75$10
49 years$915$510$270$138$68$8
50 years$887$487$254$127$62$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $908,000, adding $3,642 every year, while hoping to spend $22,923 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: 80/10/10 Blend
60$908,000$908,000$908,000$908,000
61$1,004,373$956,249$942,175$1,082,802
62$1,082,429$978,715$949,348$1,157,243
63$1,167,678$1,001,514$955,993$1,235,546
64$1,260,831$1,024,637$962,068$1,320,794
65$1,362,668$1,048,077$967,529$1,413,670
66$1,474,048$1,071,821$972,330$1,514,926
67$1,595,920$1,095,859$976,422$1,625,391
68$1,729,326$1,120,178$979,754$1,745,978
69$1,875,414$1,144,763$982,272$1,877,691
70$2,035,448$1,169,598$983,920$2,021,638
71$2,210,820$1,194,666$984,638$2,179,039
72$2,403,066$1,219,946$984,365$2,351,237
73$2,613,872$1,245,417$983,035$2,539,713
74$2,845,100$1,271,056$980,580$2,746,097
75$3,098,799$1,296,836$976,928$2,972,185
76$3,377,225$1,322,730$972,004$3,219,956
77$3,682,865$1,348,707$965,729$3,491,591
78$4,018,457$1,374,733$958,020$3,789,492
79$4,387,017$1,400,772$948,791$4,116,306
80$4,791,869$1,426,786$937,952$4,474,948
81$5,236,672$1,452,731$925,406$4,868,633
82$5,725,461$1,478,563$911,056$5,300,900
83$6,262,678$1,504,232$894,796$5,775,651
84$6,853,217$1,529,686$876,517$6,297,184
85$7,502,471$1,554,866$856,107$6,870,235
86$8,216,381$1,579,713$833,444$7,500,023
87$9,001,493$1,604,160$808,406$8,192,300
88$9,865,018$1,628,136$780,860$8,953,401
89$10,814,902$1,651,567$750,671$9,790,311
90$11,859,898$1,674,371$717,695$10,710,724
91$13,009,654$1,696,461$681,784$11,723,119
92$14,274,796$1,717,745$642,781$12,836,840
93$15,667,035$1,738,124$600,524$14,062,183
94$17,199,273$1,757,492$554,842$15,410,495
95$18,885,726$1,775,737$505,556$16,894,278
96$20,742,060$1,792,737$452,482$18,527,312
97$22,785,534$1,808,365$395,424$20,324,780
98$25,035,167$1,822,485$334,180$22,303,413
99$27,511,917$1,834,949$268,538$24,481,650
100$30,238,875$1,845,604$198,276$26,879,809