Can I retire at age 61 with 924,000?

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 $924,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$76,303$75,623$74,960$74,313$73,681$72,851
2 years$37,774$37,070$36,388$35,727$35,086$34,251
3 years$24,932$24,226$23,546$22,891$22,260$21,445
4 years$18,513$17,809$17,135$16,492$15,876$15,088
5 years$14,662$13,962$13,298$12,667$12,069$11,309
6 years$12,096$11,401$10,747$10,130$9,550$8,820
7 years$10,264$9,575$8,930$8,328$7,766$7,067
8 years$8,890$8,207$7,574$6,987$6,443$5,774
9 years$7,822$7,146$6,523$5,951$5,426$4,786
10 years$6,968$6,299$5,687$5,130$4,623$4,013
11 years$6,270$5,607$5,007$4,464$3,976$3,395
12 years$5,689$5,033$4,443$3,916$3,446$2,893
13 years$5,198$4,548$3,970$3,457$3,005$2,479
14 years$4,777$4,134$3,567$3,069$2,634$2,135
15 years$4,412$3,777$3,221$2,737$2,319$1,847
16 years$4,094$3,465$2,920$2,451$2,050$1,603
17 years$3,813$3,191$2,657$2,202$1,817$1,395
18 years$3,564$2,949$2,425$1,984$1,616$1,217
19 years$3,341$2,733$2,220$1,793$1,440$1,064
20 years$3,140$2,540$2,038$1,624$1,286$932
21 years$2,959$2,366$1,874$1,474$1,151$818
22 years$2,795$2,208$1,728$1,340$1,032$718
23 years$2,645$2,065$1,595$1,220$926$632
24 years$2,508$1,935$1,475$1,113$833$556
25 years$2,382$1,816$1,366$1,017$749$490
26 years$2,266$1,707$1,267$929$675$433
27 years$2,159$1,606$1,177$851$608$382
28 years$2,059$1,513$1,094$779$549$337
29 years$1,967$1,428$1,018$715$496$298
30 years$1,881$1,348$948$656$448$263
31 years$1,800$1,275$884$602$405$233
32 years$1,725$1,206$825$554$366$206
33 years$1,655$1,142$770$509$332$182
34 years$1,589$1,083$720$468$300$162
35 years$1,526$1,027$673$431$272$143
36 years$1,468$975$629$397$246$127
37 years$1,412$926$589$366$223$112
38 years$1,360$880$552$337$202$99
39 years$1,310$836$517$311$184$88
40 years$1,263$796$484$287$166$78
41 years$1,219$758$454$265$151$69
42 years$1,176$721$426$244$137$61
43 years$1,136$687$400$225$124$54
44 years$1,098$655$375$208$113$48
45 years$1,061$625$352$192$102$43
46 years$1,027$596$331$178$93$38
47 years$993$569$311$164$84$34
48 years$962$543$292$152$77$30
49 years$931$519$275$140$70$26
50 years$902$495$258$130$63$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $924,000, adding $5,531 every year, while hoping to spend $32,897 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: 63/16/21 Blend
60$924,000$924,000$924,000$924,000
61$1,023,953$974,981$960,659$1,082,576
62$1,093,394$987,753$957,839$1,135,539
63$1,168,816$1,000,048$953,822$1,189,180
64$1,250,793$1,011,809$948,533$1,247,010
65$1,339,959$1,022,972$941,894$1,309,439
66$1,437,009$1,033,473$933,822$1,376,924
67$1,542,711$1,043,239$924,232$1,449,965
68$1,657,906$1,052,197$913,032$1,529,115
69$1,783,524$1,060,266$900,130$1,614,986
70$1,920,584$1,067,360$885,426$1,708,249
71$2,070,212$1,073,389$868,815$1,809,648
72$2,233,644$1,078,255$850,191$1,920,002
73$2,412,243$1,081,857$829,439$2,040,216
74$2,607,508$1,084,084$806,442$2,171,286
75$2,821,090$1,084,820$781,074$2,314,312
76$3,054,808$1,083,943$753,207$2,470,508
77$3,310,662$1,081,320$722,703$2,641,212
78$3,590,859$1,076,814$689,422$2,827,900
79$3,897,824$1,070,275$653,216$3,032,202
80$4,234,232$1,061,548$613,928$3,255,912
81$4,603,026$1,050,467$571,398$3,501,014
82$5,007,450$1,036,855$525,455$3,769,690
83$5,451,075$1,020,526$475,922$4,064,353
84$5,937,835$1,001,282$422,616$4,387,659
85$6,472,063$978,914$365,343$4,742,540
86$7,058,532$953,200$303,901$5,132,229
87$7,702,500$923,904$238,079$5,560,292
88$8,409,759$890,780$167,659$6,030,659
89$9,186,689$853,562$92,410$6,547,668
90$10,040,318$811,974$12,092$7,116,098
91$10,978,390$765,720$0$7,741,223
92$12,009,435$714,490$0$8,445,352
93$13,142,851$657,953$0$9,222,363
94$14,388,992$595,763$0$10,076,673
95$15,759,265$527,551$0$11,016,139
96$17,266,237$452,928$0$12,049,422
97$18,923,755$371,484$0$13,186,065
98$20,747,076$282,784$0$14,436,586
99$22,753,008$186,371$0$15,812,578
100$24,960,072$81,760$0$17,326,817