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%14.4%
1 years$76,716$76,033$75,366$74,715$74,080$72,733
2 years$37,978$37,271$36,585$35,921$35,276$33,924
3 years$25,067$24,357$23,673$23,015$22,381$21,065
4 years$18,613$17,905$17,228$16,581$15,962$14,694
5 years$14,742$14,038$13,370$12,736$12,134$10,916
6 years$12,161$11,463$10,805$10,185$9,601$8,436
7 years$10,319$9,626$8,979$8,374$7,808$6,695
8 years$8,938$8,252$7,615$7,024$6,478$5,416
9 years$7,865$7,185$6,559$5,983$5,455$4,445
10 years$7,006$6,333$5,718$5,158$4,648$3,689
11 years$6,304$5,638$5,034$4,489$3,998$3,087
12 years$5,720$5,060$4,467$3,937$3,464$2,602
13 years$5,226$4,573$3,991$3,476$3,021$2,206
14 years$4,803$4,157$3,586$3,086$2,648$1,878
15 years$4,436$3,797$3,238$2,752$2,332$1,606
16 years$4,116$3,484$2,936$2,464$2,061$1,377
17 years$3,833$3,208$2,671$2,214$1,827$1,184
18 years$3,583$2,965$2,439$1,995$1,625$1,020
19 years$3,359$2,748$2,232$1,803$1,448$881
20 years$3,157$2,553$2,049$1,633$1,293$762
21 years$2,975$2,378$1,884$1,482$1,157$660
22 years$2,810$2,220$1,737$1,347$1,037$573
23 years$2,660$2,076$1,604$1,227$931$497
24 years$2,522$1,945$1,483$1,119$837$432
25 years$2,395$1,826$1,374$1,022$753$376
26 years$2,278$1,716$1,274$934$678$327
27 years$2,171$1,615$1,183$855$612$285
28 years$2,071$1,522$1,100$784$552$248
29 years$1,978$1,435$1,023$719$498$216
30 years$1,891$1,356$953$660$450$188
31 years$1,810$1,282$889$606$407$164
32 years$1,735$1,213$829$557$368$143
33 years$1,664$1,148$774$512$333$125
34 years$1,597$1,088$723$471$302$109
35 years$1,534$1,032$676$434$273$95
36 years$1,475$980$633$399$248$83
37 years$1,420$931$592$368$224$73
38 years$1,367$884$555$339$203$63
39 years$1,317$841$520$313$185$55
40 years$1,270$800$487$288$167$48
41 years$1,225$762$457$266$152$42
42 years$1,183$725$428$246$138$37
43 years$1,142$691$402$227$125$32
44 years$1,104$659$377$209$114$28
45 years$1,067$628$354$193$103$25
46 years$1,032$599$333$179$94$22
47 years$999$572$313$165$85$19
48 years$967$546$294$152$77$16
49 years$936$521$276$141$70$14
50 years$907$498$260$130$64$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $929,000, adding $5,526 every year, while hoping to spend $47,595 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: 57/32/11 Blend
60$929,000$929,000$929,000$929,000
61$1,029,458$980,221$965,822$1,085,042
62$1,083,822$977,611$947,536$1,120,602
63$1,142,136$973,278$927,042$1,153,571
64$1,204,753$967,088$904,217$1,188,357
65$1,272,059$958,896$878,930$1,225,142
66$1,344,479$948,553$851,045$1,264,126
67$1,422,481$935,897$820,419$1,305,532
68$1,506,576$920,758$786,905$1,349,608
69$1,597,328$902,956$750,347$1,396,629
70$1,695,354$882,299$710,583$1,446,902
71$1,801,334$858,586$667,442$1,500,767
72$1,916,016$831,602$620,746$1,558,600
73$2,040,220$801,121$570,312$1,620,820
74$2,174,849$766,902$515,944$1,687,893
75$2,320,895$728,693$457,440$1,760,333
76$2,479,451$686,223$394,589$1,838,712
77$2,651,718$639,211$327,170$1,923,664
78$2,839,015$587,354$254,952$2,015,893
79$3,042,797$530,337$177,695$2,116,177
80$3,264,661$467,822$95,147$2,225,379
81$3,506,368$399,457$7,046$2,344,456
82$3,769,854$324,867$0$2,474,469
83$4,057,249$243,655$0$2,626,797
84$4,370,899$155,405$0$2,794,078
85$4,713,385$59,674$0$2,976,958
86$5,087,549$0$0$3,177,065
87$5,496,520$0$0$3,411,695
88$5,943,743$0$0$3,691,325
89$6,433,009$0$0$3,997,324
90$6,968,495$0$0$4,332,314
91$7,554,799$0$0$4,699,182
92$8,196,985$0$0$5,101,106
93$8,900,629$0$0$5,541,589
94$9,671,873$0$0$6,024,487
95$10,517,481$0$0$6,554,046
96$11,444,901$0$0$7,134,945
97$12,462,339$0$0$7,772,336
98$13,578,832$0$0$8,471,894
99$14,804,336$0$0$9,239,870
100$16,149,816$0$0$10,083,151