Can I retire at age 61 with 918,000?

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 $918,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$75,808$75,132$74,474$73,830$73,203$71,375
2 years$37,529$36,830$36,152$35,495$34,858$33,029
3 years$24,770$24,069$23,393$22,742$22,116$20,341
4 years$18,393$17,693$17,024$16,385$15,773$14,067
5 years$14,567$13,871$13,211$12,585$11,990$10,358
6 years$12,017$11,327$10,677$10,064$9,488$7,930
7 years$10,197$9,512$8,872$8,274$7,716$6,234
8 years$8,832$8,154$7,525$6,941$6,401$4,994
9 years$7,771$7,099$6,481$5,912$5,391$4,057
10 years$6,923$6,258$5,650$5,096$4,593$3,331
11 years$6,230$5,571$4,974$4,435$3,950$2,758
12 years$5,652$5,000$4,415$3,890$3,423$2,299
13 years$5,164$4,519$3,944$3,435$2,985$1,927
14 years$4,746$4,107$3,544$3,049$2,617$1,622
15 years$4,384$3,752$3,200$2,719$2,304$1,370
16 years$4,067$3,443$2,901$2,435$2,036$1,161
17 years$3,788$3,170$2,640$2,188$1,805$986
18 years$3,540$2,930$2,410$1,971$1,605$839
19 years$3,319$2,715$2,206$1,781$1,431$716
20 years$3,120$2,523$2,025$1,613$1,278$611
21 years$2,940$2,350$1,862$1,464$1,144$523
22 years$2,777$2,194$1,716$1,331$1,025$447
23 years$2,628$2,052$1,585$1,212$920$383
24 years$2,492$1,922$1,466$1,106$827$329
25 years$2,367$1,804$1,357$1,010$744$282
26 years$2,251$1,696$1,259$923$670$242
27 years$2,145$1,596$1,169$845$604$208
28 years$2,046$1,504$1,087$774$545$179
29 years$1,954$1,418$1,011$710$493$153
30 years$1,869$1,340$942$652$445$132
31 years$1,789$1,266$878$599$402$113
32 years$1,714$1,198$819$550$364$98
33 years$1,644$1,135$765$506$329$84
34 years$1,578$1,076$715$465$298$72
35 years$1,516$1,020$668$428$270$62
36 years$1,458$968$625$395$245$54
37 years$1,403$920$585$364$222$46
38 years$1,351$874$548$335$201$40
39 years$1,302$831$513$309$182$34
40 years$1,255$791$481$285$165$29
41 years$1,211$753$451$263$150$25
42 years$1,169$717$423$243$136$22
43 years$1,129$683$397$224$124$19
44 years$1,091$651$373$207$112$16
45 years$1,054$621$350$191$102$14
46 years$1,020$592$329$176$92$12
47 years$987$565$309$163$84$10
48 years$955$539$290$151$76$9
49 years$925$515$273$139$69$8
50 years$896$492$257$129$63$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $918,000, adding $3,762 every year, while hoping to spend $46,505 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: 74/17/9 Blend
60$918,000$918,000$918,000$918,000
61$1,015,517$966,863$952,634$1,088,826
62$1,069,618$964,758$935,066$1,135,569
63$1,127,680$960,991$915,351$1,180,547
64$1,190,056$955,433$893,368$1,228,517
65$1,257,136$947,943$868,990$1,279,760
66$1,329,347$938,376$842,085$1,334,587
67$1,407,160$926,575$812,514$1,393,339
68$1,491,089$912,377$780,132$1,456,396
69$1,581,701$895,605$744,788$1,524,173
70$1,679,620$876,074$706,323$1,597,131
71$1,785,529$853,589$664,572$1,675,778
72$1,900,180$827,942$619,362$1,760,674
73$2,024,399$798,913$570,513$1,852,436
74$2,159,097$766,269$517,834$1,951,749
75$2,305,273$729,764$461,129$2,059,364
76$2,464,026$689,137$400,192$2,176,114
77$2,636,566$644,114$334,808$2,302,914
78$2,824,222$594,403$264,751$2,440,779
79$3,028,460$539,695$189,787$2,590,824
80$3,250,889$479,667$109,671$2,754,283
81$3,493,282$413,973$24,147$2,932,516
82$3,757,590$342,250$0$3,127,024
83$4,045,958$264,114$0$3,345,910
84$4,360,751$179,161$0$3,587,449
85$4,704,568$86,961$0$3,851,364
86$5,080,275$0$0$4,139,910
87$5,491,022$0$0$4,457,994
88$5,940,281$0$0$4,823,731
89$6,431,874$0$0$5,223,971
90$6,970,008$0$0$5,662,144
91$7,559,317$0$0$6,142,028
92$8,204,905$0$0$6,667,785
93$8,912,390$0$0$7,243,996
94$9,687,962$0$0$7,875,708
95$10,538,438$0$0$8,568,478
96$11,471,325$0$0$9,328,428
97$12,494,892$0$0$10,162,301
98$13,618,248$0$0$11,077,523
99$14,851,426$0$0$12,082,277
100$16,205,477$0$0$13,185,573