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%16.6%
1 years$75,642$74,969$74,311$73,670$73,043$71,076
2 years$37,447$36,749$36,073$35,418$34,782$32,814
3 years$24,717$24,016$23,342$22,693$22,067$20,160
4 years$18,353$17,654$16,987$16,349$15,739$13,907
5 years$14,535$13,841$13,183$12,557$11,964$10,213
6 years$11,991$11,302$10,653$10,042$9,467$7,798
7 years$10,175$9,492$8,853$8,256$7,699$6,113
8 years$8,813$8,136$7,508$6,926$6,387$4,882
9 years$7,755$7,084$6,467$5,899$5,379$3,954
10 years$6,908$6,244$5,638$5,085$4,583$3,237
11 years$6,216$5,559$4,963$4,426$3,942$2,672
12 years$5,640$4,989$4,405$3,882$3,416$2,220
13 years$5,153$4,509$3,936$3,427$2,979$1,854
14 years$4,735$4,098$3,536$3,042$2,611$1,555
15 years$4,374$3,744$3,193$2,713$2,299$1,309
16 years$4,058$3,435$2,895$2,429$2,032$1,105
17 years$3,780$3,164$2,634$2,183$1,802$936
18 years$3,533$2,923$2,404$1,967$1,602$793
19 years$3,312$2,709$2,201$1,777$1,428$674
20 years$3,113$2,518$2,020$1,610$1,275$573
21 years$2,934$2,345$1,858$1,461$1,141$488
22 years$2,771$2,189$1,713$1,328$1,023$416
23 years$2,622$2,047$1,581$1,210$918$355
24 years$2,486$1,918$1,462$1,103$825$303
25 years$2,362$1,800$1,354$1,008$743$259
26 years$2,247$1,692$1,256$921$669$222
27 years$2,140$1,592$1,166$843$603$190
28 years$2,042$1,500$1,084$773$544$162
29 years$1,950$1,415$1,009$709$491$139
30 years$1,865$1,337$940$650$444$119
31 years$1,785$1,264$876$597$401$102
32 years$1,710$1,196$818$549$363$87
33 years$1,640$1,132$763$505$329$75
34 years$1,575$1,073$713$464$298$64
35 years$1,513$1,018$667$428$270$55
36 years$1,455$966$624$394$244$47
37 years$1,400$918$584$363$221$40
38 years$1,348$872$547$334$201$35
39 years$1,299$829$512$308$182$30
40 years$1,252$789$480$284$165$25
41 years$1,208$751$450$262$150$22
42 years$1,166$715$422$242$136$19
43 years$1,126$681$396$224$123$16
44 years$1,088$650$372$206$112$14
45 years$1,052$619$349$191$102$12
46 years$1,018$591$328$176$92$10
47 years$985$564$308$163$84$9
48 years$953$538$290$150$76$7
49 years$923$514$272$139$69$6
50 years$894$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 $916,000, adding $5,703 every year, while hoping to spend $20,210 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: 66/28/6 Blend
60$916,000$916,000$916,000$916,000
61$1,015,315$966,767$952,569$1,080,998
62$1,097,373$992,635$962,976$1,151,198
63$1,187,125$1,019,093$973,055$1,224,929
64$1,285,332$1,046,150$982,774$1,304,965
65$1,392,836$1,073,811$992,096$1,391,917
66$1,510,562$1,102,084$1,000,988$1,486,459
67$1,639,529$1,130,976$1,009,411$1,589,332
68$1,780,860$1,160,493$1,017,325$1,701,350
69$1,935,791$1,190,640$1,024,688$1,823,414
70$2,105,682$1,221,422$1,031,457$1,956,511
71$2,292,035$1,252,845$1,037,584$2,101,730
72$2,496,501$1,284,913$1,043,021$2,260,272
73$2,720,898$1,317,627$1,047,716$2,433,458
74$2,967,231$1,350,992$1,051,616$2,622,742
75$3,237,707$1,385,010$1,054,663$2,829,726
76$3,534,758$1,419,680$1,056,800$3,056,178
77$3,861,062$1,455,004$1,057,962$3,304,040
78$4,219,571$1,490,980$1,058,084$3,575,454
79$4,613,536$1,527,606$1,057,098$3,872,782
80$5,046,537$1,564,879$1,054,931$4,198,621
81$5,522,521$1,602,795$1,051,508$4,555,836
82$6,045,833$1,641,347$1,046,749$4,947,582
83$6,621,265$1,680,529$1,040,572$5,377,334
84$7,254,091$1,720,332$1,032,888$5,848,924
85$7,950,125$1,760,746$1,023,607$6,366,569
86$8,715,772$1,801,757$1,012,632$6,934,920
87$9,558,090$1,843,352$999,864$7,559,098
88$10,484,853$1,885,514$985,197$8,244,748
89$11,504,628$1,928,225$968,522$8,998,089
90$12,626,857$1,971,464$949,724$9,825,972
91$13,861,938$2,015,207$928,681$10,735,949
92$15,221,332$2,059,429$905,269$11,736,339
93$16,717,667$2,104,101$879,355$12,836,310
94$18,364,857$2,149,189$850,801$14,045,964
95$20,178,233$2,194,660$819,463$15,376,432
96$22,174,688$2,240,473$785,190$16,839,982
97$24,372,837$2,286,588$747,825$18,450,129
98$26,793,192$2,332,956$707,203$20,221,768
99$29,458,354$2,379,527$663,151$22,171,313
100$32,393,229$2,426,247$615,489$24,316,850