Can I retire at age 61 with 928,000?

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 $928,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$76,633$75,951$75,285$74,635$74,000$72,834
2 years$37,937$37,231$36,546$35,882$35,238$34,066
3 years$25,040$24,331$23,648$22,990$22,357$21,216
4 years$18,593$17,886$17,209$16,563$15,945$14,843
5 years$14,726$14,023$13,355$12,722$12,121$11,062
6 years$12,148$11,450$10,793$10,174$9,591$8,576
7 years$10,308$9,616$8,969$8,364$7,800$6,830
8 years$8,929$8,243$7,606$7,017$6,471$5,545
9 years$7,856$7,177$6,551$5,977$5,449$4,567
10 years$6,999$6,326$5,712$5,152$4,643$3,803
11 years$6,298$5,632$5,028$4,484$3,993$3,196
12 years$5,714$5,055$4,463$3,933$3,460$2,704
13 years$5,220$4,568$3,987$3,472$3,018$2,301
14 years$4,797$4,152$3,582$3,082$2,645$1,967
15 years$4,431$3,793$3,234$2,749$2,329$1,689
16 years$4,111$3,480$2,933$2,461$2,058$1,454
17 years$3,829$3,205$2,668$2,211$1,825$1,256
18 years$3,579$2,962$2,436$1,993$1,623$1,087
19 years$3,355$2,745$2,230$1,801$1,446$943
20 years$3,154$2,551$2,047$1,631$1,292$819
21 years$2,972$2,376$1,882$1,480$1,156$713
22 years$2,807$2,218$1,735$1,346$1,036$621
23 years$2,657$2,074$1,602$1,226$930$542
24 years$2,519$1,943$1,482$1,118$836$473
25 years$2,393$1,824$1,372$1,021$752$413
26 years$2,276$1,714$1,273$933$678$361
27 years$2,168$1,613$1,182$854$611$316
28 years$2,068$1,520$1,099$783$551$277
29 years$1,975$1,434$1,022$718$498$242
30 years$1,889$1,354$952$659$450$212
31 years$1,808$1,280$888$605$407$186
32 years$1,733$1,211$828$556$368$163
33 years$1,662$1,147$773$511$333$143
34 years$1,595$1,087$723$471$301$126
35 years$1,533$1,031$676$433$273$110
36 years$1,474$979$632$399$247$97
37 years$1,418$930$592$368$224$85
38 years$1,366$883$554$339$203$74
39 years$1,316$840$519$312$184$65
40 years$1,269$799$486$288$167$57
41 years$1,224$761$456$266$152$50
42 years$1,181$725$428$245$138$44
43 years$1,141$690$402$226$125$39
44 years$1,103$658$377$209$113$34
45 years$1,066$628$354$193$103$30
46 years$1,031$599$332$178$93$26
47 years$998$571$312$165$85$23
48 years$966$545$293$152$77$20
49 years$935$521$276$141$70$18
50 years$906$497$259$130$64$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $928,000, adding $6,045 every year, while hoping to spend $28,708 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: 50/26/24 Blend
60$928,000$928,000$928,000$928,000
61$1,028,891$979,707$965,323$1,073,116
62$1,103,293$997,168$967,117$1,121,958
63$1,184,322$1,014,522$968,008$1,171,628
64$1,272,623$1,031,734$967,936$1,225,030
65$1,368,907$1,048,765$966,839$1,282,529
66$1,473,956$1,065,575$964,648$1,344,528
67$1,588,631$1,082,120$961,295$1,411,473
68$1,713,879$1,098,351$956,706$1,483,854
69$1,850,743$1,114,219$950,805$1,562,214
70$2,000,373$1,129,669$943,510$1,647,149
71$2,164,031$1,144,643$934,738$1,739,322
72$2,343,110$1,159,079$924,400$1,839,459
73$2,539,143$1,172,910$912,403$1,948,364
74$2,753,819$1,186,066$898,652$2,066,924
75$2,988,995$1,198,470$883,043$2,196,118
76$3,246,720$1,210,041$865,472$2,337,026
77$3,529,246$1,220,695$845,827$2,490,837
78$3,839,059$1,230,338$823,992$2,658,868
79$4,178,892$1,238,874$799,844$2,842,568
80$4,551,758$1,246,198$773,258$3,043,537
81$4,960,975$1,252,199$744,100$3,263,541
82$5,410,197$1,256,760$712,230$3,504,526
83$5,903,451$1,259,755$677,503$3,768,640
84$6,445,171$1,261,051$639,768$4,058,254
85$7,040,243$1,260,507$598,865$4,375,982
86$7,694,050$1,257,973$554,628$4,724,706
87$8,412,518$1,253,290$506,884$5,107,608
88$9,202,182$1,246,287$455,451$5,528,195
89$10,070,236$1,236,787$400,140$5,990,337
90$11,024,609$1,224,598$340,754$6,498,302
91$12,074,034$1,209,519$277,085$7,056,795
92$13,228,136$1,191,336$208,918$7,671,007
93$14,497,517$1,169,822$136,027$8,346,664
94$15,893,858$1,144,738$58,178$9,090,077
95$17,430,030$1,115,829$0$9,908,210
96$19,120,215$1,082,826$0$10,815,114
97$20,980,036$1,045,443$0$11,829,193
98$23,026,710$1,003,380$0$12,944,936
99$25,279,206$956,318$0$14,172,707
100$27,758,425$903,918$0$15,523,931