Can I retire at age 61 with 924,000?

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 $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%11.2%
1 years$76,303$75,623$74,960$74,313$73,681$73,309
2 years$37,774$37,070$36,388$35,727$35,086$34,711
3 years$24,932$24,226$23,546$22,891$22,260$21,893
4 years$18,513$17,809$17,135$16,492$15,876$15,520
5 years$14,662$13,962$13,298$12,667$12,069$11,725
6 years$12,096$11,401$10,747$10,130$9,550$9,218
7 years$10,264$9,575$8,930$8,328$7,766$7,447
8 years$8,890$8,207$7,574$6,987$6,443$6,137
9 years$7,822$7,146$6,523$5,951$5,426$5,132
10 years$6,968$6,299$5,687$5,130$4,623$4,342
11 years$6,270$5,607$5,007$4,464$3,976$3,707
12 years$5,689$5,033$4,443$3,916$3,446$3,189
13 years$5,198$4,548$3,970$3,457$3,005$2,760
14 years$4,777$4,134$3,567$3,069$2,634$2,400
15 years$4,412$3,777$3,221$2,737$2,319$2,097
16 years$4,094$3,465$2,920$2,451$2,050$1,838
17 years$3,813$3,191$2,657$2,202$1,817$1,617
18 years$3,564$2,949$2,425$1,984$1,616$1,426
19 years$3,341$2,733$2,220$1,793$1,440$1,260
20 years$3,140$2,540$2,038$1,624$1,286$1,116
21 years$2,959$2,366$1,874$1,474$1,151$990
22 years$2,795$2,208$1,728$1,340$1,032$880
23 years$2,645$2,065$1,595$1,220$926$783
24 years$2,508$1,935$1,475$1,113$833$697
25 years$2,382$1,816$1,366$1,017$749$622
26 years$2,266$1,707$1,267$929$675$555
27 years$2,159$1,606$1,177$851$608$495
28 years$2,059$1,513$1,094$779$549$443
29 years$1,967$1,428$1,018$715$496$396
30 years$1,881$1,348$948$656$448$354
31 years$1,800$1,275$884$602$405$317
32 years$1,725$1,206$825$554$366$284
33 years$1,655$1,142$770$509$332$255
34 years$1,589$1,083$720$468$300$228
35 years$1,526$1,027$673$431$272$205
36 years$1,468$975$629$397$246$184
37 years$1,412$926$589$366$223$165
38 years$1,360$880$552$337$202$148
39 years$1,310$836$517$311$184$133
40 years$1,263$796$484$287$166$119
41 years$1,219$758$454$265$151$107
42 years$1,176$721$426$244$137$96
43 years$1,136$687$400$225$124$86
44 years$1,098$655$375$208$113$78
45 years$1,061$625$352$192$102$70
46 years$1,027$596$331$178$93$63
47 years$993$569$311$164$84$56
48 years$962$543$292$152$77$51
49 years$931$519$275$140$70$45
50 years$902$495$258$130$63$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $924,000, adding $5,168 every year, while hoping to spend $58,082 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: 69/17/14 Blend
60$924,000$924,000$924,000$924,000
61$1,023,579$974,607$960,285$1,090,609
62$1,066,185$960,564$930,656$1,121,814
63$1,111,190$943,886$898,087$1,148,511
64$1,158,778$924,383$862,420$1,176,224
65$1,209,149$901,853$823,486$1,205,047
66$1,262,521$876,083$781,112$1,235,081
67$1,319,133$846,846$735,114$1,266,443
68$1,379,247$813,903$685,302$1,299,260
69$1,443,147$777,001$631,477$1,333,675
70$1,511,147$735,873$573,430$1,369,849
71$1,583,587$690,234$510,943$1,407,959
72$1,660,843$639,786$443,790$1,448,205
73$1,743,325$584,211$371,732$1,490,807
74$1,831,481$523,175$294,523$1,536,012
75$1,925,806$456,323$211,903$1,584,094
76$2,026,838$383,283$123,601$1,635,358
77$2,135,170$303,659$29,336$1,690,144
78$2,251,452$217,033$0$1,748,828
79$2,376,398$122,965$0$1,822,476
80$2,510,790$20,990$0$1,906,278
81$2,655,487$0$0$1,996,412
82$2,811,435$0$0$2,110,224
83$2,979,670$0$0$2,237,279
84$3,161,331$0$0$2,374,516
85$3,357,671$0$0$2,522,885
86$3,570,064$0$0$2,683,433
87$3,800,023$0$0$2,857,308
88$4,049,211$0$0$3,045,773
89$4,319,457$0$0$3,250,217
90$4,612,770$0$0$3,472,169
91$4,931,362$0$0$3,713,308
92$5,277,665$0$0$3,975,484
93$5,654,356$0$0$4,260,729
94$6,064,377$0$0$4,571,281
95$6,510,969$0$0$4,909,602
96$6,997,695$0$0$5,278,401
97$7,528,480$0$0$5,680,660
98$8,107,642$0$0$6,119,662
99$8,739,932$0$0$6,599,018
100$9,430,583$0$0$7,122,706