Can I retire at age 61 with 917,000?

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 $917,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$75,725$75,050$74,392$73,750$73,123$70,556
2 years$37,488$36,789$36,113$35,457$34,820$32,262
3 years$24,743$24,042$23,367$22,717$22,092$19,621
4 years$18,373$17,674$17,005$16,367$15,756$13,392
5 years$14,551$13,856$13,197$12,571$11,977$9,727
6 years$12,004$11,315$10,665$10,053$9,477$7,342
7 years$10,186$9,502$8,863$8,265$7,708$5,687
8 years$8,823$8,145$7,516$6,934$6,394$4,486
9 years$7,763$7,092$6,474$5,906$5,385$3,587
10 years$6,916$6,251$5,644$5,091$4,588$2,898
11 years$6,223$5,565$4,969$4,431$3,946$2,360
12 years$5,646$4,995$4,410$3,886$3,419$1,934
13 years$5,158$4,514$3,940$3,431$2,982$1,592
14 years$4,741$4,103$3,540$3,046$2,614$1,316
15 years$4,379$3,748$3,196$2,716$2,301$1,092
16 years$4,063$3,439$2,898$2,432$2,034$908
17 years$3,784$3,167$2,637$2,185$1,804$757
18 years$3,537$2,926$2,407$1,969$1,604$632
19 years$3,315$2,712$2,204$1,779$1,429$528
20 years$3,117$2,520$2,022$1,612$1,277$442
21 years$2,937$2,348$1,860$1,463$1,143$371
22 years$2,774$2,191$1,714$1,330$1,024$311
23 years$2,625$2,050$1,583$1,211$919$261
24 years$2,489$1,920$1,464$1,105$826$219
25 years$2,364$1,802$1,356$1,009$744$184
26 years$2,249$1,694$1,258$922$670$155
27 years$2,142$1,594$1,168$844$604$130
28 years$2,044$1,502$1,086$774$545$109
29 years$1,952$1,417$1,010$709$492$92
30 years$1,867$1,338$941$651$445$78
31 years$1,787$1,265$877$598$402$65
32 years$1,712$1,197$818$549$364$55
33 years$1,642$1,134$764$505$329$46
34 years$1,576$1,074$714$465$298$39
35 years$1,515$1,019$668$428$270$33
36 years$1,456$967$625$394$244$28
37 years$1,401$919$585$363$222$23
38 years$1,349$873$547$335$201$20
39 years$1,300$830$513$309$182$16
40 years$1,254$790$481$285$165$14
41 years$1,209$752$451$263$150$12
42 years$1,167$716$423$242$136$10
43 years$1,128$682$397$224$123$8
44 years$1,090$650$372$207$112$7
45 years$1,053$620$350$191$102$6
46 years$1,019$592$328$176$92$5
47 years$986$565$309$163$84$4
48 years$954$539$290$150$76$4
49 years$924$515$273$139$69$3
50 years$895$492$256$129$63$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $917,000, adding $3,988 every year, while hoping to spend $33,562 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: 55/38/7 Blend
60$917,000$917,000$917,000$917,000
61$1,014,648$966,047$951,833$1,068,607
62$1,082,432$977,673$948,010$1,117,118
63$1,156,005$988,745$942,934$1,165,843
64$1,235,923$999,198$936,527$1,218,075
65$1,322,796$1,008,967$928,709$1,274,149
66$1,417,295$1,017,980$919,394$1,334,439
67$1,520,159$1,026,162$908,495$1,399,356
68$1,632,202$1,033,431$895,916$1,469,354
69$1,754,318$1,039,701$881,561$1,544,934
70$1,887,493$1,044,880$865,328$1,626,649
71$2,032,810$1,048,872$847,109$1,715,110
72$2,191,463$1,051,572$826,793$1,810,990
73$2,364,763$1,052,871$804,262$1,915,034
74$2,554,159$1,052,651$779,394$2,028,062
75$2,761,241$1,050,789$752,061$2,150,980
76$2,987,761$1,047,152$722,130$2,284,789
77$3,235,651$1,041,600$689,459$2,430,591
78$3,507,034$1,033,985$653,902$2,589,607
79$3,804,250$1,024,149$615,307$2,763,179
80$4,129,877$1,011,925$573,513$2,952,792
81$4,486,751$997,137$528,352$3,160,083
82$4,877,999$979,596$479,652$3,386,860
83$5,307,063$959,104$427,228$3,635,115
84$5,777,734$935,451$370,891$3,907,051
85$6,294,188$908,413$310,441$4,205,094
86$6,861,025$877,755$245,670$4,531,924
87$7,483,311$843,226$176,361$4,890,496
88$8,166,628$804,563$102,288$5,284,072
89$8,917,123$761,487$23,215$5,716,250
90$9,741,571$713,700$0$6,190,999
91$10,647,431$660,892$0$6,717,267
92$11,642,924$602,731$0$7,297,465
93$12,737,106$538,868$0$7,935,204
94$13,939,952$468,933$0$8,636,386
95$15,262,453$392,538$0$9,407,515
96$16,716,720$309,268$0$10,255,768
97$18,316,092$218,690$0$11,189,057
98$20,075,270$120,342$0$12,216,107
99$22,010,449$13,740$0$13,346,541
100$24,139,472$0$0$14,590,971