Can I retire at age 61 with 914,000?

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 $914,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$75,477$74,805$74,149$73,509$72,884$71,412
2 years$37,365$36,669$35,995$35,341$34,706$33,230
3 years$24,663$23,964$23,291$22,643$22,019$20,585
4 years$18,313$17,616$16,950$16,313$15,704$14,322
5 years$14,504$13,811$13,154$12,530$11,938$10,613
6 years$11,965$11,278$10,630$10,020$9,446$8,179
7 years$10,153$9,471$8,834$8,238$7,682$6,473
8 years$8,794$8,118$7,492$6,911$6,373$5,221
9 years$7,738$7,069$6,453$5,887$5,367$4,272
10 years$6,893$6,231$5,626$5,074$4,573$3,534
11 years$6,203$5,547$4,953$4,416$3,933$2,949
12 years$5,628$4,978$4,395$3,874$3,408$2,478
13 years$5,141$4,499$3,927$3,420$2,972$2,093
14 years$4,725$4,090$3,528$3,036$2,605$1,776
15 years$4,365$3,736$3,186$2,707$2,294$1,513
16 years$4,049$3,428$2,888$2,424$2,027$1,293
17 years$3,772$3,157$2,628$2,178$1,798$1,108
18 years$3,525$2,917$2,399$1,963$1,598$951
19 years$3,305$2,703$2,196$1,774$1,425$819
20 years$3,106$2,512$2,016$1,606$1,273$705
21 years$2,927$2,340$1,854$1,458$1,139$609
22 years$2,765$2,184$1,709$1,326$1,021$526
23 years$2,617$2,043$1,578$1,207$916$455
24 years$2,481$1,914$1,459$1,101$824$394
25 years$2,356$1,796$1,351$1,006$741$341
26 years$2,242$1,688$1,253$919$668$295
27 years$2,135$1,589$1,164$842$602$256
28 years$2,037$1,497$1,082$771$543$222
29 years$1,946$1,412$1,007$707$490$193
30 years$1,861$1,334$938$649$443$168
31 years$1,781$1,261$874$596$401$146
32 years$1,707$1,193$816$548$362$126
33 years$1,637$1,130$762$504$328$110
34 years$1,571$1,071$712$463$297$95
35 years$1,510$1,016$665$427$269$83
36 years$1,452$964$622$393$244$72
37 years$1,397$916$583$362$221$63
38 years$1,345$870$546$334$200$55
39 years$1,296$827$511$308$182$47
40 years$1,250$787$479$284$165$41
41 years$1,206$749$449$262$149$36
42 years$1,164$714$421$242$136$31
43 years$1,124$680$395$223$123$27
44 years$1,086$648$371$206$112$24
45 years$1,050$618$349$190$101$21
46 years$1,015$590$327$176$92$18
47 years$983$563$308$162$84$16
48 years$951$537$289$150$76$14
49 years$921$513$272$139$69$12
50 years$892$490$255$128$63$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $914,000, adding $5,093 every year, while hoping to spend $23,017 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: 36/39/25 Blend
60$914,000$914,000$914,000$914,000
61$1,012,481$964,039$949,872$1,041,156
62$1,091,265$986,787$957,203$1,085,521
63$1,177,312$1,009,879$964,008$1,130,912
64$1,271,341$1,033,306$970,245$1,179,462
65$1,374,140$1,057,060$975,871$1,231,469
66$1,486,578$1,081,131$980,838$1,287,261
67$1,609,611$1,105,509$985,098$1,347,200
68$1,744,292$1,130,180$988,600$1,411,687
69$1,891,782$1,155,131$991,290$1,481,162
70$2,053,358$1,180,346$993,112$1,556,110
71$2,230,425$1,205,808$994,007$1,637,067
72$2,424,534$1,231,498$993,911$1,724,625
73$2,637,389$1,257,394$992,760$1,819,434
74$2,870,871$1,283,475$990,486$1,922,212
75$3,127,049$1,309,714$987,016$2,033,753
76$3,408,202$1,336,084$982,275$2,154,930
77$3,716,843$1,362,556$976,185$2,286,707
78$4,055,736$1,389,096$968,662$2,430,145
79$4,427,929$1,415,670$959,621$2,586,419
80$4,836,778$1,442,239$948,969$2,756,819
81$5,285,983$1,468,761$936,612$2,942,772
82$5,779,615$1,495,193$922,451$3,145,849
83$6,322,164$1,521,485$906,381$3,367,786
84$6,918,573$1,547,586$888,293$3,610,492
85$7,574,289$1,573,440$868,072$3,876,079
86$8,295,314$1,598,986$845,600$4,166,870
87$9,088,260$1,624,160$820,752$4,485,430
88$9,960,411$1,648,892$793,396$4,834,588
89$10,919,794$1,673,109$763,395$5,217,461
90$11,975,251$1,696,730$730,608$5,637,489
91$13,136,527$1,719,670$694,883$6,098,463
92$14,414,357$1,741,838$656,066$6,604,565
93$15,820,569$1,763,135$613,992$7,160,405
94$17,368,197$1,783,459$568,491$7,771,068
95$19,071,602$1,802,698$519,384$8,442,159
96$20,946,608$1,820,732$466,486$9,179,860
97$23,010,650$1,837,436$409,601$9,990,985
98$25,282,940$1,852,674$348,527$10,883,049
99$27,784,648$1,866,303$283,050$11,864,335
100$30,539,099$1,878,169$212,950$12,943,980