Can I retire at age 61 with 920,000?

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 $920,000?

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$75,973$75,296$74,636$73,991$73,362$72,992
2 years$37,610$36,910$36,231$35,573$34,934$34,560
3 years$24,824$24,121$23,444$22,792$22,164$21,798
4 years$18,433$17,731$17,061$16,420$15,807$15,453
5 years$14,599$13,902$13,240$12,612$12,017$11,674
6 years$12,044$11,352$10,700$10,086$9,508$9,178
7 years$10,219$9,533$8,892$8,292$7,733$7,415
8 years$8,852$8,172$7,541$6,956$6,415$6,110
9 years$7,788$7,115$6,495$5,925$5,402$5,110
10 years$6,938$6,271$5,662$5,108$4,603$4,323
11 years$6,243$5,583$4,985$4,445$3,959$3,691
12 years$5,664$5,011$4,424$3,899$3,431$3,175
13 years$5,175$4,529$3,953$3,442$2,992$2,748
14 years$4,756$4,116$3,552$3,056$2,622$2,390
15 years$4,393$3,760$3,207$2,725$2,309$2,088
16 years$4,076$3,450$2,907$2,440$2,041$1,830
17 years$3,796$3,177$2,645$2,192$1,809$1,610
18 years$3,548$2,936$2,415$1,976$1,609$1,420
19 years$3,326$2,721$2,211$1,785$1,434$1,255
20 years$3,127$2,529$2,029$1,617$1,281$1,111
21 years$2,947$2,355$1,866$1,467$1,146$986
22 years$2,783$2,199$1,720$1,334$1,027$876
23 years$2,634$2,056$1,588$1,215$922$779
24 years$2,497$1,927$1,469$1,108$829$694
25 years$2,372$1,808$1,360$1,012$746$619
26 years$2,256$1,699$1,262$925$672$552
27 years$2,150$1,599$1,172$847$606$493
28 years$2,050$1,507$1,089$776$547$441
29 years$1,958$1,422$1,014$712$494$394
30 years$1,873$1,343$944$653$446$353
31 years$1,793$1,269$880$600$403$316
32 years$1,718$1,201$821$551$365$283
33 years$1,648$1,137$767$507$330$254
34 years$1,582$1,078$716$466$299$227
35 years$1,520$1,022$670$429$271$204
36 years$1,461$970$627$395$245$183
37 years$1,406$922$586$364$222$164
38 years$1,354$876$549$336$202$147
39 years$1,305$833$515$310$183$132
40 years$1,258$792$482$286$166$119
41 years$1,213$754$452$264$150$107
42 years$1,171$718$424$243$136$96
43 years$1,131$684$398$224$124$86
44 years$1,093$652$374$207$112$77
45 years$1,057$622$351$191$102$69
46 years$1,022$593$330$177$93$62
47 years$989$566$310$163$84$56
48 years$957$541$291$151$76$50
49 years$927$516$273$140$69$45
50 years$898$493$257$129$63$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $920,000, adding $4,832 every year, while hoping to spend $49,357 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: 31/43/26 Blend
60$920,000$920,000$920,000$920,000
61$1,018,824$970,064$955,804$1,042,146
62$1,070,229$965,082$935,308$1,055,482
63$1,125,222$958,201$912,471$1,065,130
64$1,184,119$949,277$887,163$1,074,530
65$1,247,263$938,155$859,247$1,083,691
66$1,315,032$924,673$828,580$1,092,632
67$1,387,841$908,658$795,013$1,101,376
68$1,466,145$889,926$758,390$1,109,954
69$1,550,443$868,284$718,547$1,118,406
70$1,641,284$843,526$675,314$1,126,781
71$1,739,271$815,434$628,513$1,135,138
72$1,845,066$783,780$577,958$1,143,551
73$1,959,395$748,318$523,452$1,152,105
74$2,083,060$708,792$464,795$1,160,903
75$2,216,939$664,929$401,772$1,170,066
76$2,361,997$616,442$334,162$1,179,734
77$2,519,298$563,024$261,733$1,190,071
78$2,690,009$504,355$184,244$1,201,265
79$2,875,416$440,094$101,442$1,213,535
80$3,076,932$369,882$13,063$1,227,129
81$3,296,111$293,339$0$1,242,336
82$3,534,664$210,062$0$1,282,021
83$3,794,474$119,629$0$1,329,348
84$4,077,612$21,592$0$1,381,194
85$4,386,356$0$0$1,438,124
86$4,723,217$0$0$1,540,763
87$5,090,956$0$0$1,664,097
88$5,492,612$0$0$1,798,946
89$5,931,531$0$0$1,946,451
90$6,411,399$0$0$2,107,867
91$6,936,271$0$0$2,284,578
92$7,510,613$0$0$2,478,108
93$8,139,345$0$0$2,690,133
94$8,827,880$0$0$2,922,502
95$9,582,182$0$0$3,177,249
96$10,408,821$0$0$3,456,614
97$11,315,027$0$0$3,763,066
98$12,308,769$0$0$4,099,324
99$13,398,821$0$0$4,468,381
100$14,594,846$0$0$4,873,536