Can I retire at age 61 with 916,000?

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 $916,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$75,642$74,969$74,311$73,670$73,043$72,735
2 years$37,447$36,749$36,073$35,418$34,782$34,472
3 years$24,717$24,016$23,342$22,693$22,067$21,763
4 years$18,353$17,654$16,987$16,349$15,739$15,444
5 years$14,535$13,841$13,183$12,557$11,964$11,679
6 years$11,991$11,302$10,653$10,042$9,467$9,192
7 years$10,175$9,492$8,853$8,256$7,699$7,435
8 years$8,813$8,136$7,508$6,926$6,387$6,133
9 years$7,755$7,084$6,467$5,899$5,379$5,135
10 years$6,908$6,244$5,638$5,085$4,583$4,350
11 years$6,216$5,559$4,963$4,426$3,942$3,718
12 years$5,640$4,989$4,405$3,882$3,416$3,202
13 years$5,153$4,509$3,936$3,427$2,979$2,775
14 years$4,735$4,098$3,536$3,042$2,611$2,417
15 years$4,374$3,744$3,193$2,713$2,299$2,114
16 years$4,058$3,435$2,895$2,429$2,032$1,856
17 years$3,780$3,164$2,634$2,183$1,802$1,634
18 years$3,533$2,923$2,404$1,967$1,602$1,443
19 years$3,312$2,709$2,201$1,777$1,428$1,277
20 years$3,113$2,518$2,020$1,610$1,275$1,133
21 years$2,934$2,345$1,858$1,461$1,141$1,007
22 years$2,771$2,189$1,713$1,328$1,023$896
23 years$2,622$2,047$1,581$1,210$918$798
24 years$2,486$1,918$1,462$1,103$825$712
25 years$2,362$1,800$1,354$1,008$743$636
26 years$2,247$1,692$1,256$921$669$568
27 years$2,140$1,592$1,166$843$603$508
28 years$2,042$1,500$1,084$773$544$455
29 years$1,950$1,415$1,009$709$491$408
30 years$1,865$1,337$940$650$444$365
31 years$1,785$1,264$876$597$401$328
32 years$1,710$1,196$818$549$363$294
33 years$1,640$1,132$763$505$329$264
34 years$1,575$1,073$713$464$298$237
35 years$1,513$1,018$667$428$270$213
36 years$1,455$966$624$394$244$191
37 years$1,400$918$584$363$221$172
38 years$1,348$872$547$334$201$155
39 years$1,299$829$512$308$182$139
40 years$1,252$789$480$284$165$125
41 years$1,208$751$450$262$150$112
42 years$1,166$715$422$242$136$101
43 years$1,126$681$396$224$123$91
44 years$1,088$650$372$206$112$82
45 years$1,052$619$349$191$102$74
46 years$1,018$591$328$176$92$66
47 years$985$564$308$163$84$60
48 years$953$538$290$150$76$54
49 years$923$514$272$139$69$48
50 years$894$491$256$128$63$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $916,000, adding $2,325 every year, while hoping to spend $26,230 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: 55/40/5 Blend
60$916,000$916,000$916,000$916,000
61$1,011,830$963,282$949,084$1,066,322
62$1,087,128$982,575$952,970$1,122,601
63$1,169,228$1,001,933$956,107$1,180,714
64$1,258,795$1,021,333$958,442$1,243,332
65$1,356,562$1,040,749$959,920$1,310,884
66$1,463,337$1,060,151$960,483$1,383,845
67$1,580,007$1,079,508$960,069$1,462,737
68$1,707,551$1,098,788$958,615$1,548,136
69$1,847,046$1,117,953$956,053$1,640,675
70$1,999,677$1,136,965$952,313$1,741,053
71$2,166,750$1,155,782$947,321$1,850,041
72$2,349,702$1,174,359$941,000$1,968,486
73$2,550,116$1,192,647$933,268$2,097,324
74$2,769,736$1,210,595$924,041$2,237,586
75$3,010,482$1,228,147$913,229$2,390,406
76$3,274,468$1,245,243$900,739$2,557,038
77$3,564,024$1,261,820$886,474$2,738,861
78$3,881,714$1,277,809$870,331$2,937,397
79$4,230,365$1,293,138$852,203$3,154,321
80$4,613,089$1,307,728$831,978$3,391,482
81$5,033,314$1,321,497$809,540$3,650,917
82$5,494,817$1,334,356$784,765$3,934,873
83$6,001,760$1,346,210$757,525$4,245,823
84$6,558,724$1,356,959$727,687$4,586,498
85$7,170,759$1,366,495$695,110$4,959,905
86$7,843,428$1,374,705$659,647$5,369,361
87$8,582,858$1,381,466$621,146$5,818,520
88$9,395,801$1,386,650$579,446$6,311,413
89$10,289,696$1,390,118$534,381$6,852,481
90$11,272,737$1,391,726$485,774$7,446,622
91$12,353,953$1,391,317$433,444$8,099,234
92$13,543,292$1,388,728$377,200$8,816,266
93$14,851,714$1,383,782$316,843$9,604,279
94$16,291,296$1,376,295$252,165$10,470,504
95$17,875,344$1,366,069$182,948$11,422,912
96$19,618,518$1,352,896$108,966$12,470,288
97$21,536,973$1,336,553$29,982$13,622,320
98$23,648,507$1,316,807$0$14,889,684
99$25,972,733$1,293,409$0$16,287,047
100$28,531,260$1,266,094$0$17,826,380