Can I retire at age 61 with 929,000?

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 $929,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$76,716$76,033$75,366$74,715$74,080$72,026
2 years$37,978$37,271$36,585$35,921$35,276$33,222
3 years$25,067$24,357$23,673$23,015$22,381$20,391
4 years$18,613$17,905$17,228$16,581$15,962$14,052
5 years$14,742$14,038$13,370$12,736$12,134$10,309
6 years$12,161$11,463$10,805$10,185$9,601$7,863
7 years$10,319$9,626$8,979$8,374$7,808$6,156
8 years$8,938$8,252$7,615$7,024$6,478$4,911
9 years$7,865$7,185$6,559$5,983$5,455$3,973
10 years$7,006$6,333$5,718$5,158$4,648$3,248
11 years$6,304$5,638$5,034$4,489$3,998$2,678
12 years$5,720$5,060$4,467$3,937$3,464$2,222
13 years$5,226$4,573$3,991$3,476$3,021$1,853
14 years$4,803$4,157$3,586$3,086$2,648$1,552
15 years$4,436$3,797$3,238$2,752$2,332$1,305
16 years$4,116$3,484$2,936$2,464$2,061$1,100
17 years$3,833$3,208$2,671$2,214$1,827$930
18 years$3,583$2,965$2,439$1,995$1,625$787
19 years$3,359$2,748$2,232$1,803$1,448$668
20 years$3,157$2,553$2,049$1,633$1,293$567
21 years$2,975$2,378$1,884$1,482$1,157$482
22 years$2,810$2,220$1,737$1,347$1,037$411
23 years$2,660$2,076$1,604$1,227$931$350
24 years$2,522$1,945$1,483$1,119$837$298
25 years$2,395$1,826$1,374$1,022$753$255
26 years$2,278$1,716$1,274$934$678$217
27 years$2,171$1,615$1,183$855$612$186
28 years$2,071$1,522$1,100$784$552$159
29 years$1,978$1,435$1,023$719$498$135
30 years$1,891$1,356$953$660$450$116
31 years$1,810$1,282$889$606$407$99
32 years$1,735$1,213$829$557$368$85
33 years$1,664$1,148$774$512$333$72
34 years$1,597$1,088$723$471$302$62
35 years$1,534$1,032$676$434$273$53
36 years$1,475$980$633$399$248$45
37 years$1,420$931$592$368$224$39
38 years$1,367$884$555$339$203$33
39 years$1,317$841$520$313$185$28
40 years$1,270$800$487$288$167$24
41 years$1,225$762$457$266$152$21
42 years$1,183$725$428$246$138$18
43 years$1,142$691$402$227$125$15
44 years$1,104$659$377$209$114$13
45 years$1,067$628$354$193$103$11
46 years$1,032$599$333$179$94$10
47 years$999$572$313$165$85$8
48 years$967$546$294$152$77$7
49 years$936$521$276$141$70$6
50 years$907$498$260$130$64$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $929,000, adding $3,750 every year, while hoping to spend $28,599 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: 60/11/29 Blend
60$929,000$929,000$929,000$929,000
61$1,027,626$978,389$963,990$1,080,990
62$1,102,015$995,901$965,854$1,135,372
63$1,183,033$1,013,313$966,823$1,191,314
64$1,271,326$1,030,589$966,835$1,251,766
65$1,367,605$1,047,691$965,828$1,317,175
66$1,472,652$1,064,580$963,735$1,388,034
67$1,587,330$1,081,211$960,487$1,464,887
68$1,712,585$1,097,538$956,010$1,548,333
69$1,849,461$1,113,510$950,229$1,639,034
70$1,999,108$1,129,074$943,064$1,737,720
71$2,162,790$1,144,172$934,430$1,845,195
72$2,341,901$1,158,743$924,240$1,962,347
73$2,537,975$1,172,720$912,401$2,090,155
74$2,752,699$1,186,035$898,818$2,229,699
75$2,987,935$1,198,611$883,389$2,382,170
76$3,245,730$1,210,369$866,008$2,548,881
77$3,528,341$1,221,223$846,565$2,731,282
78$3,838,252$1,231,083$824,945$2,930,969
79$4,178,199$1,239,851$801,026$3,149,705
80$4,551,197$1,247,426$774,682$3,389,433
81$4,960,565$1,253,696$745,781$3,652,297
82$5,409,961$1,258,546$714,183$3,940,659
83$5,903,414$1,261,851$679,744$4,257,125
84$6,445,360$1,263,479$642,314$4,604,569
85$7,040,688$1,263,291$601,732$4,986,161
86$7,694,783$1,261,138$557,836$5,405,393
87$8,413,579$1,256,861$510,451$5,866,119
88$9,203,610$1,250,294$459,397$6,372,587
89$10,072,078$1,241,257$404,487$6,929,481
90$11,026,915$1,229,564$345,522$7,541,967
91$12,076,861$1,215,013$282,298$8,215,737
92$13,231,545$1,197,394$214,599$8,957,071
93$14,501,577$1,176,480$142,203$9,772,890
94$15,898,645$1,152,035$64,874$10,670,825
95$17,435,628$1,123,806$0$11,659,290
96$19,126,716$1,091,527$0$12,753,022
97$20,987,544$1,054,914$0$13,978,562
98$23,035,338$1,013,669$0$15,327,170
99$25,289,079$967,476$0$16,811,359
100$27,769,682$916,000$0$18,444,920