Can I retire at age 61 with 930,000?

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 $930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$76,799$76,114$75,447$74,796$74,160$72,220
2 years$38,019$37,311$36,625$35,959$35,314$33,373
3 years$25,094$24,383$23,699$23,040$22,405$20,524
4 years$18,633$17,924$17,247$16,599$15,979$14,172
5 years$14,757$14,053$13,384$12,749$12,147$10,419
6 years$12,175$11,475$10,816$10,196$9,612$7,964
7 years$10,330$9,637$8,988$8,383$7,817$6,250
8 years$8,948$8,261$7,623$7,032$6,485$4,998
9 years$7,873$7,192$6,566$5,990$5,461$4,053
10 years$7,014$6,340$5,724$5,163$4,653$3,321
11 years$6,311$5,644$5,039$4,493$4,002$2,745
12 years$5,726$5,066$4,472$3,941$3,468$2,284
13 years$5,231$4,578$3,996$3,480$3,024$1,910
14 years$4,808$4,161$3,590$3,089$2,651$1,604
15 years$4,441$3,801$3,241$2,755$2,334$1,353
16 years$4,120$3,488$2,939$2,467$2,063$1,144
17 years$3,838$3,212$2,674$2,216$1,829$969
18 years$3,587$2,968$2,441$1,997$1,626$823
19 years$3,362$2,751$2,235$1,805$1,450$700
20 years$3,161$2,556$2,051$1,634$1,295$597
21 years$2,979$2,381$1,887$1,483$1,159$509
22 years$2,813$2,222$1,739$1,349$1,039$435
23 years$2,662$2,079$1,605$1,228$932$372
24 years$2,524$1,948$1,485$1,120$838$318
25 years$2,398$1,828$1,375$1,023$754$272
26 years$2,281$1,718$1,275$935$679$233
27 years$2,173$1,617$1,184$856$612$200
28 years$2,073$1,523$1,101$785$553$171
29 years$1,980$1,437$1,025$719$499$147
30 years$1,893$1,357$954$660$451$126
31 years$1,812$1,283$890$606$408$108
32 years$1,736$1,214$830$557$369$93
33 years$1,665$1,150$775$512$334$79
34 years$1,599$1,090$724$472$302$68
35 years$1,536$1,033$677$434$274$59
36 years$1,477$981$633$400$248$50
37 years$1,421$932$593$368$225$43
38 years$1,369$885$555$339$204$37
39 years$1,319$842$520$313$185$32
40 years$1,271$801$488$289$168$27
41 years$1,227$762$457$266$152$23
42 years$1,184$726$429$246$138$20
43 years$1,144$692$402$227$125$17
44 years$1,105$659$378$210$114$15
45 years$1,068$629$355$194$103$13
46 years$1,033$600$333$179$94$11
47 years$1,000$573$313$165$85$9
48 years$968$547$294$153$77$8
49 years$937$522$276$141$70$7
50 years$908$499$260$130$64$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $930,000, adding $4,700 every year, while hoping to spend $31,215 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: 50/33/17 Blend
60$930,000$930,000$930,000$930,000
61$1,029,708$980,418$966,003$1,076,129
62$1,101,526$995,246$965,152$1,123,457
63$1,179,623$1,009,754$963,226$1,171,249
64$1,264,606$1,023,894$960,156$1,222,509
65$1,357,145$1,037,614$955,870$1,277,575
66$1,457,975$1,050,858$950,292$1,336,821
67$1,567,905$1,063,567$943,344$1,400,657
68$1,687,826$1,075,676$934,940$1,469,538
69$1,818,718$1,087,119$924,995$1,543,966
70$1,961,662$1,097,822$913,417$1,624,494
71$2,117,846$1,107,710$900,111$1,711,733
72$2,288,577$1,116,698$884,975$1,806,359
73$2,475,296$1,124,701$867,906$1,909,116
74$2,679,589$1,131,624$848,794$2,020,828
75$2,903,202$1,137,368$827,523$2,142,400
76$3,148,057$1,141,828$803,974$2,274,836
77$3,416,273$1,144,892$778,022$2,419,242
78$3,710,181$1,146,440$749,533$2,576,837
79$4,032,350$1,146,345$718,373$2,748,969
80$4,385,607$1,144,473$684,395$2,937,126
81$4,773,067$1,140,681$647,451$3,142,946
82$5,198,163$1,134,817$607,384$3,368,242
83$5,664,673$1,126,721$564,029$3,615,011
84$6,176,761$1,116,221$517,215$3,885,458
85$6,739,012$1,103,137$466,763$4,182,015
86$7,356,477$1,087,277$412,485$4,507,368
87$8,034,722$1,068,438$354,188$4,864,477
88$8,779,876$1,046,403$291,665$5,256,609
89$9,598,692$1,020,946$224,705$5,687,371
90$10,498,610$991,824$153,084$6,160,737
91$11,487,827$958,783$76,571$6,681,097
92$12,575,373$921,550$0$7,253,288
93$13,771,195$879,840$0$7,883,570
94$15,086,255$833,351$0$8,591,794
95$16,532,629$781,760$0$9,370,597
96$18,123,621$724,731$0$10,227,192
97$19,873,892$661,904$0$11,169,534
98$21,799,592$592,901$0$12,206,389
99$23,918,519$517,321$0$13,347,426
100$26,250,280$434,742$0$14,603,301