Can I retire at age 61 with 915,000?

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 $915,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$75,560$74,887$74,230$73,589$72,963$70,941
2 years$37,406$36,709$36,034$35,379$34,744$32,722
3 years$24,690$23,990$23,316$22,668$22,043$20,084
4 years$18,333$17,635$16,968$16,331$15,721$13,840
5 years$14,519$13,826$13,168$12,544$11,951$10,154
6 years$11,978$11,290$10,642$10,031$9,457$7,744
7 years$10,164$9,481$8,843$8,247$7,691$6,064
8 years$8,803$8,127$7,500$6,918$6,380$4,837
9 years$7,746$7,076$6,460$5,893$5,373$3,913
10 years$6,901$6,237$5,632$5,080$4,578$3,199
11 years$6,209$5,553$4,958$4,421$3,937$2,637
12 years$5,634$4,984$4,400$3,878$3,412$2,188
13 years$5,147$4,504$3,931$3,424$2,975$1,825
14 years$4,730$4,094$3,532$3,039$2,608$1,529
15 years$4,369$3,740$3,189$2,710$2,296$1,285
16 years$4,054$3,431$2,891$2,427$2,030$1,084
17 years$3,776$3,160$2,631$2,180$1,800$916
18 years$3,529$2,920$2,402$1,965$1,600$776
19 years$3,308$2,706$2,199$1,776$1,426$658
20 years$3,110$2,515$2,018$1,608$1,274$559
21 years$2,931$2,342$1,856$1,459$1,140$475
22 years$2,768$2,187$1,711$1,327$1,022$405
23 years$2,620$2,045$1,580$1,208$917$345
24 years$2,484$1,916$1,461$1,102$824$294
25 years$2,359$1,798$1,353$1,007$742$251
26 years$2,244$1,690$1,255$920$668$214
27 years$2,138$1,590$1,165$842$603$183
28 years$2,039$1,499$1,083$772$544$156
29 years$1,948$1,414$1,008$708$491$133
30 years$1,863$1,335$939$650$444$114
31 years$1,783$1,262$875$597$401$98
32 years$1,708$1,194$817$548$363$83
33 years$1,639$1,131$763$504$328$71
34 years$1,573$1,072$712$464$297$61
35 years$1,511$1,017$666$427$269$52
36 years$1,453$965$623$393$244$45
37 years$1,398$917$583$362$221$38
38 years$1,347$871$546$334$200$33
39 years$1,297$828$512$308$182$28
40 years$1,251$788$480$284$165$24
41 years$1,207$750$450$262$150$21
42 years$1,165$714$422$242$136$18
43 years$1,125$681$396$223$123$15
44 years$1,087$649$372$206$112$13
45 years$1,051$619$349$190$101$11
46 years$1,017$590$328$176$92$9
47 years$984$563$308$162$84$8
48 years$952$538$289$150$76$7
49 years$922$514$272$139$69$6
50 years$893$491$256$128$63$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $915,000, adding $4,806 every year, while hoping to spend $45,503 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: 49/23/28 Blend
60$915,000$915,000$915,000$915,000
61$1,013,287$964,792$950,610$1,054,668
62$1,068,228$963,652$934,040$1,083,034
63$1,127,247$960,931$915,391$1,108,958
64$1,190,713$956,504$894,544$1,136,239
65$1,259,030$950,237$871,375$1,165,026
66$1,332,642$941,989$845,757$1,195,490
67$1,412,036$931,611$817,554$1,227,818
68$1,497,747$918,943$786,625$1,262,219
69$1,590,363$903,817$752,823$1,298,929
70$1,690,531$886,056$715,994$1,338,208
71$1,798,962$865,469$675,976$1,380,350
72$1,916,437$841,858$632,602$1,425,678
73$2,043,815$815,010$585,696$1,474,555
74$2,182,040$784,702$535,072$1,527,383
75$2,332,151$750,695$480,541$1,584,612
76$2,495,292$712,740$421,900$1,646,739
77$2,672,718$670,571$358,940$1,714,318
78$2,865,813$623,907$291,443$1,787,966
79$3,076,100$572,452$219,179$1,868,367
80$3,305,251$515,892$141,911$1,956,281
81$3,555,111$453,894$59,389$2,052,550
82$3,827,707$386,110$0$2,158,111
83$4,125,273$312,169$0$2,282,568
84$4,450,265$231,679$0$2,437,998
85$4,805,388$144,228$0$2,607,998
86$5,193,623$49,380$0$2,794,072
87$5,618,246$0$0$2,997,878
88$6,082,870$0$0$3,234,745
89$6,591,470$0$0$3,507,807
90$7,148,423$0$0$3,806,930
91$7,758,552$0$0$4,134,716
92$8,427,165$0$0$4,494,028
93$9,160,109$0$0$4,888,025
94$9,963,825$0$0$5,320,180
95$10,845,405$0$0$5,794,324
96$11,812,663$0$0$6,314,671
97$12,874,203$0$0$6,885,868
98$14,039,505$0$0$7,513,030
99$15,319,010$0$0$8,201,795
100$16,724,220$0$0$8,958,370