Can I retire at age 61 with 921,000?

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 $921,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$76,055$75,378$74,717$74,072$73,442$72,404
2 years$37,651$36,950$36,270$35,611$34,972$33,929
3 years$24,851$24,147$23,469$22,817$22,188$21,171
4 years$18,453$17,751$17,080$16,438$15,825$14,842
5 years$14,615$13,917$13,255$12,626$12,030$11,085
6 years$12,057$11,364$10,712$10,097$9,519$8,612
7 years$10,230$9,544$8,901$8,301$7,741$6,874
8 years$8,861$8,181$7,549$6,964$6,422$5,593
9 years$7,797$7,123$6,502$5,932$5,408$4,618
10 years$6,946$6,278$5,669$5,113$4,608$3,855
11 years$6,250$5,589$4,991$4,450$3,963$3,247
12 years$5,671$5,017$4,429$3,903$3,434$2,755
13 years$5,181$4,534$3,957$3,446$2,995$2,350
14 years$4,761$4,121$3,555$3,059$2,625$2,015
15 years$4,398$3,764$3,210$2,728$2,311$1,734
16 years$4,080$3,454$2,910$2,443$2,043$1,498
17 years$3,800$3,181$2,648$2,195$1,811$1,297
18 years$3,552$2,939$2,418$1,978$1,611$1,126
19 years$3,330$2,724$2,213$1,787$1,436$979
20 years$3,130$2,531$2,031$1,619$1,282$854
21 years$2,950$2,358$1,868$1,469$1,147$745
22 years$2,786$2,201$1,722$1,336$1,029$651
23 years$2,637$2,058$1,590$1,216$923$570
24 years$2,500$1,929$1,470$1,109$830$499
25 years$2,374$1,810$1,362$1,013$747$437
26 years$2,259$1,701$1,263$926$673$383
27 years$2,152$1,601$1,173$848$606$337
28 years$2,053$1,509$1,090$777$547$296
29 years$1,961$1,423$1,015$712$494$260
30 years$1,875$1,344$945$654$446$228
31 years$1,795$1,271$881$601$404$201
32 years$1,720$1,202$822$552$365$177
33 years$1,649$1,138$768$508$330$155
34 years$1,583$1,079$717$467$299$137
35 years$1,521$1,023$670$430$271$120
36 years$1,463$971$627$396$246$106
37 years$1,408$923$587$365$223$93
38 years$1,355$877$550$336$202$82
39 years$1,306$834$515$310$183$72
40 years$1,259$793$483$286$166$64
41 years$1,215$755$453$264$151$56
42 years$1,173$719$425$243$137$50
43 years$1,132$685$398$225$124$44
44 years$1,094$653$374$208$113$39
45 years$1,058$623$351$192$102$34
46 years$1,023$594$330$177$93$30
47 years$990$567$310$164$84$26
48 years$958$541$291$151$76$23
49 years$928$517$274$140$69$20
50 years$899$494$257$129$63$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $921,000, adding $5,143 every year, while hoping to spend $54,290 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: 58/35/7 Blend
60$921,000$921,000$921,000$921,000
61$1,020,247$971,434$957,159$1,077,591
62$1,066,548$961,270$931,459$1,106,555
63$1,115,752$948,789$903,079$1,131,512
64$1,168,098$933,819$871,872$1,157,363
65$1,223,848$916,179$837,683$1,184,198
66$1,283,287$895,678$800,352$1,212,119
67$1,346,728$872,113$759,710$1,241,238
68$1,414,516$845,268$715,582$1,271,684
69$1,487,027$814,917$667,784$1,303,601
70$1,564,673$780,817$616,124$1,337,150
71$1,647,907$742,714$560,402$1,372,512
72$1,737,225$700,339$500,407$1,409,892
73$1,833,173$653,406$435,921$1,449,516
74$1,936,348$601,614$366,716$1,491,641
75$2,047,407$544,645$292,552$1,536,551
76$2,167,071$482,161$213,181$1,584,566
77$2,296,131$413,806$128,342$1,636,044
78$2,435,458$339,204$37,763$1,691,381
79$2,586,008$257,958$0$1,751,024
80$2,748,832$169,649$0$1,819,867
81$2,925,083$73,832$0$1,897,361
82$3,116,032$0$0$1,981,321
83$3,323,074$0$0$2,083,998
84$3,547,745$0$0$2,226,339
85$3,791,732$0$0$2,380,987
86$4,056,892$0$0$2,549,127
87$4,345,269$0$0$2,732,063
88$4,659,109$0$0$2,931,232
89$5,000,885$0$0$3,148,211
90$5,373,319$0$0$3,384,739
91$5,779,405$0$0$3,642,728
92$6,222,439$0$0$3,924,283
93$6,706,048$0$0$4,231,723
94$7,234,227$0$0$4,567,596
95$7,811,371$0$0$4,934,712
96$8,442,321$0$0$5,336,163
97$9,132,404$0$0$5,775,351
98$9,887,488$0$0$6,256,027
99$10,714,033$0$0$6,782,316
100$11,619,154$0$0$7,358,765