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%16.3%
1 years$75,477$74,805$74,149$73,509$72,884$71,006
2 years$37,365$36,669$35,995$35,341$34,706$32,828
3 years$24,663$23,964$23,291$22,643$22,019$20,198
4 years$18,313$17,616$16,950$16,313$15,704$13,954
5 years$14,504$13,811$13,154$12,530$11,938$10,264
6 years$11,965$11,278$10,630$10,020$9,446$7,850
7 years$10,153$9,471$8,834$8,238$7,682$6,164
8 years$8,794$8,118$7,492$6,911$6,373$4,932
9 years$7,738$7,069$6,453$5,887$5,367$4,002
10 years$6,893$6,231$5,626$5,074$4,573$3,282
11 years$6,203$5,547$4,953$4,416$3,933$2,714
12 years$5,628$4,978$4,395$3,874$3,408$2,259
13 years$5,141$4,499$3,927$3,420$2,972$1,891
14 years$4,725$4,090$3,528$3,036$2,605$1,589
15 years$4,365$3,736$3,186$2,707$2,294$1,341
16 years$4,049$3,428$2,888$2,424$2,027$1,135
17 years$3,772$3,157$2,628$2,178$1,798$962
18 years$3,525$2,917$2,399$1,963$1,598$818
19 years$3,305$2,703$2,196$1,774$1,425$696
20 years$3,106$2,512$2,016$1,606$1,273$594
21 years$2,927$2,340$1,854$1,458$1,139$507
22 years$2,765$2,184$1,709$1,326$1,021$433
23 years$2,617$2,043$1,578$1,207$916$371
24 years$2,481$1,914$1,459$1,101$824$317
25 years$2,356$1,796$1,351$1,006$741$272
26 years$2,242$1,688$1,253$919$668$233
27 years$2,135$1,589$1,164$842$602$200
28 years$2,037$1,497$1,082$771$543$171
29 years$1,946$1,412$1,007$707$490$147
30 years$1,861$1,334$938$649$443$126
31 years$1,781$1,261$874$596$401$108
32 years$1,707$1,193$816$548$362$93
33 years$1,637$1,130$762$504$328$80
34 years$1,571$1,071$712$463$297$69
35 years$1,510$1,016$665$427$269$59
36 years$1,452$964$622$393$244$51
37 years$1,397$916$583$362$221$44
38 years$1,345$870$546$334$200$37
39 years$1,296$827$511$308$182$32
40 years$1,250$787$479$284$165$28
41 years$1,206$749$449$262$149$24
42 years$1,164$714$421$242$136$20
43 years$1,124$680$395$223$123$18
44 years$1,086$648$371$206$112$15
45 years$1,050$618$349$190$101$13
46 years$1,015$590$327$176$92$11
47 years$983$563$308$162$84$10
48 years$951$537$289$150$76$8
49 years$921$513$272$139$69$7
50 years$892$490$255$128$63$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $914,000, adding $4,242 every year, while hoping to spend $34,942 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: 33/41/26 Blend
60$914,000$914,000$914,000$914,000
61$1,011,604$963,162$948,995$1,036,857
62$1,077,609$973,179$943,608$1,066,317
63$1,149,176$982,515$936,870$1,094,621
64$1,226,835$991,101$928,698$1,124,435
65$1,311,169$998,862$919,006$1,155,915
66$1,402,820$1,005,718$907,704$1,189,237
67$1,502,493$1,011,584$894,698$1,224,595
68$1,610,966$1,016,370$879,889$1,262,206
69$1,729,092$1,019,979$863,172$1,302,313
70$1,857,812$1,022,311$844,441$1,345,183
71$1,998,160$1,023,256$823,582$1,391,117
72$2,151,276$1,022,698$800,475$1,440,447
73$2,318,412$1,020,517$774,997$1,493,544
74$2,500,950$1,016,582$747,019$1,550,818
75$2,700,407$1,010,754$716,404$1,612,725
76$2,918,456$1,002,889$683,011$1,679,775
77$3,156,938$992,830$646,692$1,752,528
78$3,417,880$980,413$607,291$1,831,611
79$3,703,515$965,465$564,646$1,917,717
80$4,016,301$947,800$518,589$2,011,615
81$4,358,944$927,222$468,942$2,114,158
82$4,734,425$903,526$415,521$2,226,291
83$5,146,028$876,490$358,132$2,349,062
84$5,597,369$845,884$296,575$2,483,632
85$6,092,429$811,460$230,639$2,631,288
86$6,635,595$772,960$160,104$2,793,453
87$7,231,699$730,109$84,741$2,971,705
88$7,886,063$682,615$4,310$3,167,791
89$8,604,549$630,170$0$3,383,642
90$9,393,615$572,450$0$3,644,014
91$10,260,374$509,111$0$3,931,403
92$11,212,665$439,790$0$4,247,304
93$12,259,119$364,103$0$4,594,693
94$13,409,249$281,644$0$4,976,853
95$14,673,533$191,984$0$5,397,409
96$16,063,515$94,673$0$5,860,365
97$17,591,913$0$0$6,370,140
98$19,272,741$0$0$6,936,470
99$21,121,436$0$0$7,606,490
100$23,155,008$0$0$8,343,672