Can I retire at age 61 with 912,000?

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 $912,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$75,312$74,641$73,987$73,348$72,724$71,053
2 years$37,283$36,589$35,916$35,263$34,631$32,956
3 years$24,609$23,911$23,240$22,594$21,971$20,345
4 years$18,273$17,577$16,913$16,277$15,670$14,106
5 years$14,472$13,781$13,125$12,503$11,912$10,414
6 years$11,939$11,253$10,607$9,998$9,426$7,995
7 years$10,130$9,450$8,814$8,220$7,666$6,302
8 years$8,775$8,101$7,475$6,896$6,359$5,063
9 years$7,721$7,053$6,438$5,874$5,355$4,126
10 years$6,878$6,217$5,613$5,063$4,563$3,398
11 years$6,189$5,535$4,942$4,406$3,924$2,823
12 years$5,615$4,968$4,386$3,865$3,401$2,361
13 years$5,130$4,489$3,918$3,412$2,966$1,985
14 years$4,715$4,081$3,521$3,029$2,600$1,677
15 years$4,355$3,728$3,179$2,701$2,289$1,421
16 years$4,041$3,420$2,882$2,419$2,023$1,209
17 years$3,763$3,150$2,622$2,173$1,794$1,030
18 years$3,517$2,911$2,394$1,959$1,595$880
19 years$3,297$2,697$2,192$1,770$1,422$753
20 years$3,100$2,507$2,011$1,603$1,270$646
21 years$2,921$2,335$1,850$1,455$1,136$554
22 years$2,759$2,179$1,705$1,323$1,019$476
23 years$2,611$2,038$1,574$1,205$914$410
24 years$2,476$1,910$1,456$1,099$822$353
25 years$2,351$1,792$1,349$1,003$739$304
26 years$2,237$1,684$1,251$917$666$262
27 years$2,131$1,585$1,161$840$601$226
28 years$2,033$1,494$1,080$769$542$195
29 years$1,941$1,409$1,005$705$489$168
30 years$1,856$1,331$936$647$442$145
31 years$1,777$1,258$872$595$400$125
32 years$1,703$1,190$814$547$362$108
33 years$1,633$1,127$760$503$327$93
34 years$1,568$1,068$710$462$296$81
35 years$1,506$1,013$664$426$268$70
36 years$1,448$962$621$392$243$60
37 years$1,394$914$581$361$220$52
38 years$1,342$868$544$333$200$45
39 years$1,293$826$510$307$181$39
40 years$1,247$785$478$283$164$34
41 years$1,203$748$448$261$149$29
42 years$1,161$712$420$241$135$25
43 years$1,121$678$395$223$123$22
44 years$1,084$647$370$205$111$19
45 years$1,048$617$348$190$101$16
46 years$1,013$588$327$175$92$14
47 years$980$561$307$162$83$12
48 years$949$536$288$150$76$11
49 years$919$512$271$138$69$9
50 years$890$489$255$128$62$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $912,000, adding $2,753 every year, while hoping to spend $53,908 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: 51/28/21 Blend
60$912,000$912,000$912,000$912,000
61$1,007,864$959,528$945,392$1,053,248
62$1,053,308$949,187$919,705$1,074,558
63$1,101,581$936,533$891,350$1,091,949
64$1,152,914$921,395$860,182$1,109,724
65$1,207,561$903,592$826,048$1,127,939
66$1,265,799$882,935$788,787$1,146,660
67$1,327,931$859,220$748,233$1,165,961
68$1,394,292$832,233$704,210$1,185,929
69$1,465,244$801,747$656,536$1,206,663
70$1,541,189$767,523$605,020$1,228,276
71$1,622,565$729,306$549,463$1,250,897
72$1,709,853$686,828$489,656$1,274,671
73$1,803,580$639,805$425,381$1,299,766
74$1,904,327$587,937$356,413$1,326,369
75$2,012,727$530,905$282,512$1,354,693
76$2,129,481$468,375$203,432$1,384,978
77$2,255,355$399,992$118,913$1,417,495
78$2,391,191$325,381$28,686$1,452,550
79$2,537,914$244,147$0$1,490,485
80$2,696,542$155,871$0$1,546,832
81$2,868,192$60,112$0$1,614,721
82$3,054,094$0$0$1,688,271
83$3,255,598$0$0$1,781,528
84$3,474,191$0$0$1,902,863
85$3,711,505$0$0$2,034,673
86$3,969,337$0$0$2,177,965
87$4,249,666$0$0$2,333,850
88$4,554,665$0$0$2,503,547
89$4,886,727$0$0$2,688,400
90$5,248,485$0$0$2,889,887
91$5,642,837$0$0$3,109,635
92$6,072,971$0$0$3,349,434
93$6,542,398$0$0$3,611,255
94$7,054,981$0$0$3,897,267
95$7,614,974$0$0$4,209,859
96$8,227,057$0$0$4,551,660
97$8,896,387$0$0$4,925,565
98$9,628,638$0$0$5,334,762
99$10,430,061$0$0$5,782,761
100$11,307,538$0$0$6,273,427