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%18.9%
1 years$76,716$76,033$75,366$74,715$74,080$71,423
2 years$37,978$37,271$36,585$35,921$35,276$32,628
3 years$25,067$24,357$23,673$23,015$22,381$19,825
4 years$18,613$17,905$17,228$16,581$15,962$13,518
5 years$14,742$14,038$13,370$12,736$12,134$9,808
6 years$12,161$11,463$10,805$10,185$9,601$7,395
7 years$10,319$9,626$8,979$8,374$7,808$5,721
8 years$8,938$8,252$7,615$7,024$6,478$4,508
9 years$7,865$7,185$6,559$5,983$5,455$3,600
10 years$7,006$6,333$5,718$5,158$4,648$2,905
11 years$6,304$5,638$5,034$4,489$3,998$2,362
12 years$5,720$5,060$4,467$3,937$3,464$1,933
13 years$5,226$4,573$3,991$3,476$3,021$1,590
14 years$4,803$4,157$3,586$3,086$2,648$1,312
15 years$4,436$3,797$3,238$2,752$2,332$1,087
16 years$4,116$3,484$2,936$2,464$2,061$903
17 years$3,833$3,208$2,671$2,214$1,827$751
18 years$3,583$2,965$2,439$1,995$1,625$626
19 years$3,359$2,748$2,232$1,803$1,448$523
20 years$3,157$2,553$2,049$1,633$1,293$437
21 years$2,975$2,378$1,884$1,482$1,157$366
22 years$2,810$2,220$1,737$1,347$1,037$306
23 years$2,660$2,076$1,604$1,227$931$257
24 years$2,522$1,945$1,483$1,119$837$215
25 years$2,395$1,826$1,374$1,022$753$181
26 years$2,278$1,716$1,274$934$678$152
27 years$2,171$1,615$1,183$855$612$127
28 years$2,071$1,522$1,100$784$552$107
29 years$1,978$1,435$1,023$719$498$90
30 years$1,891$1,356$953$660$450$75
31 years$1,810$1,282$889$606$407$63
32 years$1,735$1,213$829$557$368$53
33 years$1,664$1,148$774$512$333$45
34 years$1,597$1,088$723$471$302$38
35 years$1,534$1,032$676$434$273$32
36 years$1,475$980$633$399$248$27
37 years$1,420$931$592$368$224$22
38 years$1,367$884$555$339$203$19
39 years$1,317$841$520$313$185$16
40 years$1,270$800$487$288$167$13
41 years$1,225$762$457$266$152$11
42 years$1,183$725$428$246$138$9
43 years$1,142$691$402$227$125$8
44 years$1,104$659$377$209$114$7
45 years$1,067$628$354$193$103$6
46 years$1,032$599$333$179$94$5
47 years$999$572$313$165$85$4
48 years$967$546$294$152$77$3
49 years$936$521$276$141$70$3
50 years$907$498$260$130$64$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $929,000, adding $3,112 every year, while hoping to spend $20,261 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: 50/22/28 Blend
60$929,000$929,000$929,000$929,000
61$1,026,968$977,731$963,332$1,070,041
62$1,110,161$1,004,082$974,046$1,126,824
63$1,201,161$1,031,046$984,440$1,186,244
64$1,300,742$1,058,630$994,481$1,250,435
65$1,409,759$1,086,843$1,004,137$1,319,859
66$1,529,149$1,115,694$1,013,370$1,395,027
67$1,659,949$1,145,189$1,022,145$1,476,498
68$1,803,297$1,175,337$1,030,420$1,564,891
69$1,960,449$1,206,144$1,038,155$1,660,888
70$2,132,786$1,237,616$1,045,304$1,765,239
71$2,321,832$1,269,761$1,051,824$1,878,769
72$2,529,262$1,302,583$1,057,664$2,002,392
73$2,756,925$1,336,088$1,062,773$2,137,111
74$3,006,854$1,370,279$1,067,099$2,284,032
75$3,281,290$1,405,160$1,070,584$2,444,375
76$3,582,703$1,440,734$1,073,169$2,619,484
77$3,913,812$1,477,002$1,074,793$2,810,839
78$4,277,612$1,513,967$1,075,391$3,020,074
79$4,677,405$1,551,628$1,074,892$3,248,986
80$5,116,826$1,589,983$1,073,227$3,499,559
81$5,599,881$1,629,031$1,070,319$3,773,976
82$6,130,983$1,668,768$1,066,089$4,074,648
83$6,714,996$1,709,190$1,060,456$4,404,227
84$7,357,275$1,750,290$1,053,330$4,765,638
85$8,063,723$1,792,060$1,044,623$5,162,107
86$8,840,844$1,834,492$1,034,238$5,597,186
87$9,695,801$1,877,573$1,022,076$6,074,792
88$10,636,489$1,921,290$1,008,032$6,599,241
89$11,671,606$1,965,629$991,997$7,175,291
90$12,810,736$2,010,572$973,855$7,808,185
91$14,064,440$2,056,098$953,488$8,503,704
92$15,444,352$2,102,186$930,769$9,268,216
93$16,963,293$2,148,810$905,567$10,108,742
94$18,635,390$2,195,943$877,745$11,033,020
95$20,476,209$2,243,554$847,159$12,049,578
96$22,502,902$2,291,608$813,658$13,167,816
97$24,734,369$2,340,067$777,086$14,398,093
98$27,191,434$2,388,890$737,278$15,751,827
99$29,897,046$2,438,031$694,063$17,241,602
100$32,876,491$2,487,441$647,260$18,881,288