Can I retire at age 61 with 917,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%11.2%
1 years$75,725$75,050$74,392$73,750$73,123$72,754
2 years$37,488$36,789$36,113$35,457$34,820$34,448
3 years$24,743$24,042$23,367$22,717$22,092$21,727
4 years$18,373$17,674$17,005$16,367$15,756$15,402
5 years$14,551$13,856$13,197$12,571$11,977$11,636
6 years$12,004$11,315$10,665$10,053$9,477$9,148
7 years$10,186$9,502$8,863$8,265$7,708$7,391
8 years$8,823$8,145$7,516$6,934$6,394$6,090
9 years$7,763$7,092$6,474$5,906$5,385$5,093
10 years$6,916$6,251$5,644$5,091$4,588$4,309
11 years$6,223$5,565$4,969$4,431$3,946$3,679
12 years$5,646$4,995$4,410$3,886$3,419$3,165
13 years$5,158$4,514$3,940$3,431$2,982$2,739
14 years$4,741$4,103$3,540$3,046$2,614$2,382
15 years$4,379$3,748$3,196$2,716$2,301$2,081
16 years$4,063$3,439$2,898$2,432$2,034$1,825
17 years$3,784$3,167$2,637$2,185$1,804$1,605
18 years$3,537$2,926$2,407$1,969$1,604$1,415
19 years$3,315$2,712$2,204$1,779$1,429$1,251
20 years$3,117$2,520$2,022$1,612$1,277$1,107
21 years$2,937$2,348$1,860$1,463$1,143$982
22 years$2,774$2,191$1,714$1,330$1,024$873
23 years$2,625$2,050$1,583$1,211$919$777
24 years$2,489$1,920$1,464$1,105$826$692
25 years$2,364$1,802$1,356$1,009$744$617
26 years$2,249$1,694$1,258$922$670$550
27 years$2,142$1,594$1,168$844$604$492
28 years$2,044$1,502$1,086$774$545$439
29 years$1,952$1,417$1,010$709$492$393
30 years$1,867$1,338$941$651$445$352
31 years$1,787$1,265$877$598$402$315
32 years$1,712$1,197$818$549$364$282
33 years$1,642$1,134$764$505$329$253
34 years$1,576$1,074$714$465$298$227
35 years$1,515$1,019$668$428$270$203
36 years$1,456$967$625$394$244$182
37 years$1,401$919$585$363$222$164
38 years$1,349$873$547$335$201$147
39 years$1,300$830$513$309$182$132
40 years$1,254$790$481$285$165$118
41 years$1,209$752$451$263$150$106
42 years$1,167$716$423$242$136$95
43 years$1,128$682$397$224$123$86
44 years$1,090$650$372$207$112$77
45 years$1,053$620$350$191$102$69
46 years$1,019$592$328$176$92$62
47 years$986$565$309$163$84$56
48 years$954$539$290$150$76$50
49 years$924$515$273$139$69$45
50 years$895$492$256$129$63$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $917,000, adding $5,307 every year, while hoping to spend $44,609 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: 64/19/17 Blend
60$917,000$917,000$917,000$917,000
61$1,016,008$967,407$953,194$1,076,416
62$1,072,177$967,346$937,662$1,117,540
63$1,132,581$965,788$920,115$1,156,868
64$1,197,603$962,610$900,438$1,198,760
65$1,267,667$957,687$878,511$1,243,469
66$1,343,236$950,881$854,208$1,291,272
67$1,424,821$942,049$827,399$1,342,477
68$1,512,982$931,038$797,946$1,397,426
69$1,608,334$917,687$765,705$1,456,495
70$1,711,555$901,824$730,527$1,520,101
71$1,823,387$883,268$692,254$1,588,706
72$1,944,651$861,825$650,722$1,662,818
73$2,076,244$837,294$605,760$1,743,003
74$2,219,157$809,457$557,189$1,829,884
75$2,374,478$778,088$504,822$1,924,150
76$2,543,404$742,943$448,463$2,026,563
77$2,727,253$703,769$387,908$2,137,966
78$2,927,473$660,294$322,943$2,259,290
79$3,145,660$612,233$253,347$2,391,563
80$3,383,569$559,285$178,885$2,535,923
81$3,643,132$501,128$99,317$2,693,627
82$3,926,475$437,427$14,388$2,866,062
83$4,235,939$367,825$0$3,054,761
84$4,574,101$291,944$0$3,275,250
85$4,943,797$209,388$0$3,519,253
86$5,348,152$119,735$0$3,786,276
87$5,790,603$22,541$0$4,078,656
88$6,274,937$0$0$4,398,970
89$6,805,326$0$0$4,767,342
90$7,386,359$0$0$5,176,116
91$8,023,095$0$0$5,624,143
92$8,721,103$0$0$6,115,351
93$9,486,517$0$0$6,654,065
94$10,326,093$0$0$7,245,048
95$11,247,272$0$0$7,893,548
96$12,258,250$0$0$8,605,345
97$13,368,057$0$0$9,386,805
98$14,586,637$0$0$10,244,940
99$15,924,946$0$0$11,187,477
100$17,395,052$0$0$12,222,925