Can I retire at age 61 with 918,000?

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 $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%14.5%
1 years$75,808$75,132$74,474$73,830$73,203$71,842
2 years$37,529$36,830$36,152$35,495$34,858$33,493
3 years$24,770$24,069$23,393$22,742$22,116$20,788
4 years$18,393$17,693$17,024$16,385$15,773$14,493
5 years$14,567$13,871$13,211$12,585$11,990$10,761
6 years$12,017$11,327$10,677$10,064$9,488$8,311
7 years$10,197$9,512$8,872$8,274$7,716$6,593
8 years$8,832$8,154$7,525$6,941$6,401$5,331
9 years$7,771$7,099$6,481$5,912$5,391$4,372
10 years$6,923$6,258$5,650$5,096$4,593$3,626
11 years$6,230$5,571$4,974$4,435$3,950$3,033
12 years$5,652$5,000$4,415$3,890$3,423$2,555
13 years$5,164$4,519$3,944$3,435$2,985$2,164
14 years$4,746$4,107$3,544$3,049$2,617$1,841
15 years$4,384$3,752$3,200$2,719$2,304$1,573
16 years$4,067$3,443$2,901$2,435$2,036$1,348
17 years$3,788$3,170$2,640$2,188$1,805$1,158
18 years$3,540$2,930$2,410$1,971$1,605$998
19 years$3,319$2,715$2,206$1,781$1,431$861
20 years$3,120$2,523$2,025$1,613$1,278$744
21 years$2,940$2,350$1,862$1,464$1,144$644
22 years$2,777$2,194$1,716$1,331$1,025$558
23 years$2,628$2,052$1,585$1,212$920$484
24 years$2,492$1,922$1,466$1,106$827$420
25 years$2,367$1,804$1,357$1,010$744$365
26 years$2,251$1,696$1,259$923$670$318
27 years$2,145$1,596$1,169$845$604$276
28 years$2,046$1,504$1,087$774$545$240
29 years$1,954$1,418$1,011$710$493$209
30 years$1,869$1,340$942$652$445$182
31 years$1,789$1,266$878$599$402$159
32 years$1,714$1,198$819$550$364$139
33 years$1,644$1,135$765$506$329$121
34 years$1,578$1,076$715$465$298$105
35 years$1,516$1,020$668$428$270$92
36 years$1,458$968$625$395$245$80
37 years$1,403$920$585$364$222$70
38 years$1,351$874$548$335$201$61
39 years$1,302$831$513$309$182$53
40 years$1,255$791$481$285$165$47
41 years$1,211$753$451$263$150$41
42 years$1,169$717$423$243$136$35
43 years$1,129$683$397$224$124$31
44 years$1,091$651$373$207$112$27
45 years$1,054$621$350$191$102$24
46 years$1,020$592$329$176$92$21
47 years$987$565$309$163$84$18
48 years$955$539$290$151$76$16
49 years$925$515$273$139$69$14
50 years$896$492$257$129$63$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $918,000, adding $6,519 every year, while hoping to spend $41,494 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: 86/8/6 Blend
60$918,000$918,000$918,000$918,000
61$1,018,360$969,706$955,477$1,105,118
62$1,078,084$973,073$943,337$1,166,013
63$1,142,508$975,213$929,398$1,226,515
64$1,212,070$976,024$913,559$1,291,660
65$1,287,247$975,395$895,709$1,361,885
66$1,368,565$973,209$875,734$1,437,673
67$1,456,604$969,341$853,517$1,519,555
68$1,551,999$963,660$828,931$1,608,113
69$1,655,449$956,026$801,846$1,703,991
70$1,767,722$946,289$772,126$1,807,897
71$1,889,666$934,293$739,628$1,920,610
72$2,022,209$919,870$704,202$2,042,989
73$2,166,375$902,845$665,694$2,175,979
74$2,323,290$883,029$623,940$2,320,622
75$2,494,193$860,225$578,769$2,478,064
76$2,680,446$834,221$530,003$2,649,569
77$2,883,551$804,797$477,457$2,836,528
78$3,105,157$771,717$420,936$3,040,476
79$3,347,084$734,731$360,238$3,263,100
80$3,611,330$693,577$295,150$3,506,263
81$3,900,099$647,975$225,451$3,772,014
82$4,215,816$597,633$150,910$4,062,613
83$4,561,150$542,237$71,286$4,380,548
84$4,939,041$481,460$0$4,728,564
85$5,352,724$414,954$0$5,110,558
86$5,805,766$342,350$0$5,533,911
87$6,302,090$263,261$0$5,997,743
88$6,846,020$177,278$0$6,506,116
89$7,442,316$83,966$0$7,063,505
90$8,096,221$0$0$7,674,842
91$8,813,510$0$0$8,347,066
92$9,600,544$0$0$9,092,775
93$10,464,329$0$0$9,911,217
94$11,412,583$0$0$10,809,706
95$12,453,807$0$0$11,796,299
96$13,597,366$0$0$12,879,870
97$14,853,576$0$0$14,070,197
98$16,233,802$0$0$15,378,049
99$17,750,563$0$0$16,815,292
100$19,417,652$0$0$18,394,997