Can I retire at age 61 with 920,000?

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 $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%11.4%
1 years$75,973$75,296$74,636$73,991$73,362$72,930
2 years$37,610$36,910$36,231$35,573$34,934$34,499
3 years$24,824$24,121$23,444$22,792$22,164$21,738
4 years$18,433$17,731$17,061$16,420$15,807$15,394
5 years$14,599$13,902$13,240$12,612$12,017$11,618
6 years$12,044$11,352$10,700$10,086$9,508$9,124
7 years$10,219$9,533$8,892$8,292$7,733$7,363
8 years$8,852$8,172$7,541$6,956$6,415$6,061
9 years$7,788$7,115$6,495$5,925$5,402$5,063
10 years$6,938$6,271$5,662$5,108$4,603$4,278
11 years$6,243$5,583$4,985$4,445$3,959$3,648
12 years$5,664$5,011$4,424$3,899$3,431$3,134
13 years$5,175$4,529$3,953$3,442$2,992$2,709
14 years$4,756$4,116$3,552$3,056$2,622$2,353
15 years$4,393$3,760$3,207$2,725$2,309$2,053
16 years$4,076$3,450$2,907$2,440$2,041$1,797
17 years$3,796$3,177$2,645$2,192$1,809$1,579
18 years$3,548$2,936$2,415$1,976$1,609$1,390
19 years$3,326$2,721$2,211$1,785$1,434$1,227
20 years$3,127$2,529$2,029$1,617$1,281$1,085
21 years$2,947$2,355$1,866$1,467$1,146$961
22 years$2,783$2,199$1,720$1,334$1,027$853
23 years$2,634$2,056$1,588$1,215$922$757
24 years$2,497$1,927$1,469$1,108$829$674
25 years$2,372$1,808$1,360$1,012$746$600
26 years$2,256$1,699$1,262$925$672$534
27 years$2,150$1,599$1,172$847$606$477
28 years$2,050$1,507$1,089$776$547$425
29 years$1,958$1,422$1,014$712$494$380
30 years$1,873$1,343$944$653$446$339
31 years$1,793$1,269$880$600$403$303
32 years$1,718$1,201$821$551$365$271
33 years$1,648$1,137$767$507$330$243
34 years$1,582$1,078$716$466$299$217
35 years$1,520$1,022$670$429$271$194
36 years$1,461$970$627$395$245$174
37 years$1,406$922$586$364$222$156
38 years$1,354$876$549$336$202$140
39 years$1,305$833$515$310$183$125
40 years$1,258$792$482$286$166$112
41 years$1,213$754$452$264$150$101
42 years$1,171$718$424$243$136$90
43 years$1,131$684$398$224$124$81
44 years$1,093$652$374$207$112$73
45 years$1,057$622$351$191$102$65
46 years$1,022$593$330$177$93$58
47 years$989$566$310$163$84$52
48 years$957$541$291$151$76$47
49 years$927$516$273$140$69$42
50 years$898$493$257$129$63$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $920,000, adding $6,681 every year, while hoping to spend $23,373 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: 50/34/16 Blend
60$920,000$920,000$920,000$920,000
61$1,020,731$971,971$957,711$1,066,950
62$1,099,977$994,729$964,926$1,122,244
63$1,186,523$1,017,819$971,599$1,179,326
64$1,281,088$1,041,232$977,688$1,240,848
65$1,384,466$1,064,959$983,146$1,307,235
66$1,497,528$1,088,989$987,929$1,378,956
67$1,621,236$1,113,309$991,984$1,456,528
68$1,756,647$1,137,906$995,261$1,540,521
69$1,904,926$1,162,765$997,703$1,631,562
70$2,067,357$1,187,869$999,254$1,730,343
71$2,245,351$1,213,198$999,854$1,837,624
72$2,440,466$1,238,734$999,437$1,954,247
73$2,654,414$1,264,452$997,939$2,081,135
74$2,889,082$1,290,329$995,289$2,219,309
75$3,146,551$1,316,337$991,413$2,369,892
76$3,429,109$1,342,447$986,235$2,534,123
77$3,739,278$1,368,627$979,674$2,713,367
78$4,079,837$1,394,843$971,646$2,909,129
79$4,453,847$1,421,057$962,062$3,123,067
80$4,864,679$1,447,227$950,831$3,357,009
81$5,316,046$1,473,312$937,853$3,612,970
82$5,812,040$1,499,262$923,029$3,893,170
83$6,357,170$1,525,027$906,252$4,200,058
84$6,956,400$1,550,552$887,410$4,536,331
85$7,615,202$1,575,778$866,388$4,904,965
86$8,339,603$1,600,641$843,062$5,309,237
87$9,136,243$1,625,074$817,306$5,752,762
88$10,012,440$1,649,003$788,986$6,239,522
89$10,976,255$1,672,350$757,962$6,773,909
90$12,036,569$1,695,031$724,090$7,360,762
91$13,203,168$1,716,956$687,216$8,005,417
92$14,486,835$1,738,031$647,181$8,713,754
93$15,899,449$1,758,152$603,819$9,492,256
94$17,454,101$1,777,209$556,956$10,348,066
95$19,165,215$1,795,088$506,409$11,289,062
96$21,048,682$1,811,662$451,988$12,323,924
97$23,122,013$1,826,800$393,496$13,462,221
98$25,404,506$1,840,360$330,725$14,714,500
99$27,917,420$1,852,192$263,459$16,092,387
100$30,684,183$1,862,136$191,471$17,608,697