Can I retire at age 61 with 928,000?

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 $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%12.7%
1 years$76,633$75,951$75,285$74,635$74,000$73,166
2 years$37,937$37,231$36,546$35,882$35,238$34,399
3 years$25,040$24,331$23,648$22,990$22,357$21,538
4 years$18,593$17,886$17,209$16,563$15,945$15,153
5 years$14,726$14,023$13,355$12,722$12,121$11,358
6 years$12,148$11,450$10,793$10,174$9,591$8,858
7 years$10,308$9,616$8,969$8,364$7,800$7,097
8 years$8,929$8,243$7,606$7,017$6,471$5,799
9 years$7,856$7,177$6,551$5,977$5,449$4,807
10 years$6,999$6,326$5,712$5,152$4,643$4,030
11 years$6,298$5,632$5,028$4,484$3,993$3,410
12 years$5,714$5,055$4,463$3,933$3,460$2,905
13 years$5,220$4,568$3,987$3,472$3,018$2,490
14 years$4,797$4,152$3,582$3,082$2,645$2,145
15 years$4,431$3,793$3,234$2,749$2,329$1,855
16 years$4,111$3,480$2,933$2,461$2,058$1,610
17 years$3,829$3,205$2,668$2,211$1,825$1,401
18 years$3,579$2,962$2,436$1,993$1,623$1,222
19 years$3,355$2,745$2,230$1,801$1,446$1,069
20 years$3,154$2,551$2,047$1,631$1,292$936
21 years$2,972$2,376$1,882$1,480$1,156$821
22 years$2,807$2,218$1,735$1,346$1,036$722
23 years$2,657$2,074$1,602$1,226$930$635
24 years$2,519$1,943$1,482$1,118$836$559
25 years$2,393$1,824$1,372$1,021$752$493
26 years$2,276$1,714$1,273$933$678$434
27 years$2,168$1,613$1,182$854$611$383
28 years$2,068$1,520$1,099$783$551$339
29 years$1,975$1,434$1,022$718$498$299
30 years$1,889$1,354$952$659$450$265
31 years$1,808$1,280$888$605$407$234
32 years$1,733$1,211$828$556$368$207
33 years$1,662$1,147$773$511$333$183
34 years$1,595$1,087$723$471$301$162
35 years$1,533$1,031$676$433$273$144
36 years$1,474$979$632$399$247$127
37 years$1,418$930$592$368$224$113
38 years$1,366$883$554$339$203$100
39 years$1,316$840$519$312$184$89
40 years$1,269$799$486$288$167$78
41 years$1,224$761$456$266$152$70
42 years$1,181$725$428$245$138$62
43 years$1,141$690$402$226$125$55
44 years$1,103$658$377$209$113$48
45 years$1,066$628$354$193$103$43
46 years$1,031$599$332$178$93$38
47 years$998$571$312$165$85$34
48 years$966$545$293$152$77$30
49 years$935$521$276$141$70$27
50 years$906$497$259$130$64$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $928,000, adding $2,196 every year, while hoping to spend $27,091 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: 52/30/18 Blend
60$928,000$928,000$928,000$928,000
61$1,024,921$975,737$961,353$1,073,059
62$1,100,639$994,724$964,734$1,125,345
63$1,183,171$1,013,733$967,320$1,179,170
64$1,273,185$1,032,736$969,056$1,237,124
65$1,371,415$1,051,705$969,884$1,299,609
66$1,478,668$1,070,607$969,743$1,367,064
67$1,595,832$1,089,407$968,570$1,439,978
68$1,723,887$1,108,068$966,297$1,518,887
69$1,863,910$1,126,550$962,855$1,604,382
70$2,017,087$1,144,809$958,169$1,697,116
71$2,184,724$1,162,799$952,162$1,797,809
72$2,368,260$1,180,471$944,754$1,907,254
73$2,569,279$1,197,770$935,859$2,026,327
74$2,789,525$1,214,640$925,389$2,155,992
75$3,030,918$1,231,019$913,251$2,297,313
76$3,295,574$1,246,841$899,348$2,451,465
77$3,585,824$1,262,038$883,577$2,619,742
78$3,904,233$1,276,533$865,833$2,803,570
79$4,253,629$1,290,247$846,002$3,004,525
80$4,637,125$1,303,094$823,969$3,224,341
81$5,058,150$1,314,985$799,610$3,464,933
82$5,520,484$1,325,821$772,799$3,728,412
83$6,028,287$1,335,500$743,402$4,017,105
84$6,586,144$1,343,912$711,278$4,333,579
85$7,199,107$1,350,939$676,282$4,680,665
86$7,872,739$1,356,458$638,260$5,061,483
87$8,613,170$1,360,336$597,053$5,479,475
88$9,427,153$1,362,433$552,494$5,938,436
89$10,322,129$1,362,598$504,409$6,442,550
90$11,306,295$1,360,674$452,616$6,996,431
91$12,388,682$1,356,492$396,923$7,605,165
92$13,579,240$1,349,873$337,133$8,274,361
93$14,888,933$1,340,628$273,038$9,010,205
94$16,329,840$1,328,555$204,421$9,819,513
95$17,915,270$1,313,440$131,055$10,709,804
96$19,659,888$1,295,058$52,705$11,689,365
97$21,579,849$1,273,169$0$12,767,335
98$23,692,959$1,247,520$0$13,959,725
99$26,018,833$1,217,840$0$15,282,892
100$28,579,085$1,183,845$0$16,739,000