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%13.1%
1 years$75,725$75,050$74,392$73,750$73,123$72,179
2 years$37,488$36,789$36,113$35,457$34,820$33,871
3 years$24,743$24,042$23,367$22,717$22,092$21,166
4 years$18,373$17,674$17,005$16,367$15,756$14,861
5 years$14,551$13,856$13,197$12,571$11,977$11,116
6 years$12,004$11,315$10,665$10,053$9,477$8,651
7 years$10,186$9,502$8,863$8,265$7,708$6,916
8 years$8,823$8,145$7,516$6,934$6,394$5,637
9 years$7,763$7,092$6,474$5,906$5,385$4,662
10 years$6,916$6,251$5,644$5,091$4,588$3,900
11 years$6,223$5,565$4,969$4,431$3,946$3,291
12 years$5,646$4,995$4,410$3,886$3,419$2,797
13 years$5,158$4,514$3,940$3,431$2,982$2,391
14 years$4,741$4,103$3,540$3,046$2,614$2,054
15 years$4,379$3,748$3,196$2,716$2,301$1,771
16 years$4,063$3,439$2,898$2,432$2,034$1,533
17 years$3,784$3,167$2,637$2,185$1,804$1,330
18 years$3,537$2,926$2,407$1,969$1,604$1,157
19 years$3,315$2,712$2,204$1,779$1,429$1,009
20 years$3,117$2,520$2,022$1,612$1,277$881
21 years$2,937$2,348$1,860$1,463$1,143$771
22 years$2,774$2,191$1,714$1,330$1,024$675
23 years$2,625$2,050$1,583$1,211$919$592
24 years$2,489$1,920$1,464$1,105$826$520
25 years$2,364$1,802$1,356$1,009$744$457
26 years$2,249$1,694$1,258$922$670$402
27 years$2,142$1,594$1,168$844$604$353
28 years$2,044$1,502$1,086$774$545$311
29 years$1,952$1,417$1,010$709$492$274
30 years$1,867$1,338$941$651$445$241
31 years$1,787$1,265$877$598$402$213
32 years$1,712$1,197$818$549$364$188
33 years$1,642$1,134$764$505$329$166
34 years$1,576$1,074$714$465$298$146
35 years$1,515$1,019$668$428$270$129
36 years$1,456$967$625$394$244$114
37 years$1,401$919$585$363$222$100
38 years$1,349$873$547$335$201$89
39 years$1,300$830$513$309$182$78
40 years$1,254$790$481$285$165$69
41 years$1,209$752$451$263$150$61
42 years$1,167$716$423$242$136$54
43 years$1,128$682$397$224$123$48
44 years$1,090$650$372$207$112$42
45 years$1,053$620$350$191$102$37
46 years$1,019$592$328$176$92$33
47 years$986$565$309$163$84$29
48 years$954$539$290$150$76$26
49 years$924$515$273$139$69$23
50 years$895$492$256$129$63$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $917,000, adding $2,797 every year, while hoping to spend $45,199 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: 62/11/27 Blend
60$917,000$917,000$917,000$917,000
61$1,013,419$964,818$950,605$1,068,776
62$1,068,696$964,003$934,358$1,105,876
63$1,128,097$961,633$916,053$1,141,197
64$1,191,994$957,584$895,572$1,178,793
65$1,260,797$951,725$872,793$1,218,895
66$1,334,955$943,916$847,588$1,261,757
67$1,414,962$934,010$819,824$1,307,664
68$1,501,361$921,849$789,361$1,356,929
69$1,594,748$907,268$756,053$1,409,899
70$1,695,778$890,090$719,747$1,466,960
71$1,805,172$870,128$680,283$1,528,538
72$1,923,721$847,186$637,494$1,595,104
73$2,052,297$821,055$591,206$1,667,180
74$2,191,857$791,512$541,237$1,745,346
75$2,343,453$758,323$487,395$1,830,240
76$2,508,246$721,241$429,483$1,922,570
77$2,687,509$680,004$367,293$2,023,118
78$2,882,644$634,333$300,607$2,132,752
79$3,095,195$583,937$229,198$2,252,427
80$3,326,860$528,504$152,831$2,383,203
81$3,579,507$467,708$71,258$2,526,249
82$3,855,193$401,203$0$2,682,860
83$4,156,182$328,621$0$2,859,015
84$4,484,966$249,578$0$3,073,948
85$4,844,290$163,664$0$3,308,935
86$5,237,173$70,449$0$3,565,990
87$5,666,941$0$0$3,847,331
88$6,137,256$0$0$4,159,100
89$6,652,151$0$0$4,509,822
90$7,216,064$0$0$4,894,001
91$7,833,887$0$0$5,314,979
92$8,511,004$0$0$5,776,433
93$9,253,346$0$0$6,282,414
94$10,067,445$0$0$6,837,384
95$10,960,495$0$0$7,446,257
96$11,940,420$0$0$8,114,446
97$13,015,950$0$0$8,847,913
98$14,196,697$0$0$9,653,226
99$15,493,255$0$0$10,537,621
100$16,917,289$0$0$11,509,066