Can I retire at age 61 with 931,000?

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 $931,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$76,881$76,196$75,528$74,876$74,239$72,123
2 years$38,060$37,351$36,664$35,998$35,352$33,236
3 years$25,121$24,409$23,724$23,064$22,429$20,380
4 years$18,653$17,943$17,265$16,617$15,996$14,030
5 years$14,773$14,068$13,398$12,763$12,160$10,282
6 years$12,188$11,487$10,828$10,207$9,622$7,834
7 years$10,341$9,647$8,998$8,392$7,825$6,127
8 years$8,957$8,269$7,631$7,039$6,492$4,882
9 years$7,882$7,200$6,573$5,996$5,467$3,944
10 years$7,021$6,346$5,730$5,169$4,658$3,221
11 years$6,318$5,650$5,045$4,498$4,006$2,652
12 years$5,732$5,071$4,477$3,946$3,472$2,197
13 years$5,237$4,583$4,000$3,483$3,027$1,830
14 years$4,813$4,166$3,594$3,092$2,654$1,531
15 years$4,446$3,805$3,245$2,758$2,337$1,285
16 years$4,125$3,491$2,942$2,469$2,065$1,082
17 years$3,842$3,215$2,677$2,219$1,831$913
18 years$3,591$2,971$2,444$1,999$1,628$772
19 years$3,366$2,754$2,237$1,807$1,451$654
20 years$3,164$2,559$2,053$1,636$1,296$555
21 years$2,982$2,383$1,889$1,485$1,160$471
22 years$2,816$2,225$1,741$1,350$1,040$400
23 years$2,665$2,081$1,607$1,230$933$341
24 years$2,527$1,950$1,486$1,121$839$290
25 years$2,400$1,830$1,377$1,024$755$247
26 years$2,283$1,720$1,277$936$680$210
27 years$2,175$1,618$1,186$857$613$179
28 years$2,075$1,525$1,102$785$553$153
29 years$1,982$1,439$1,026$720$499$131
30 years$1,895$1,359$955$661$451$111
31 years$1,814$1,284$891$607$408$95
32 years$1,738$1,215$831$558$369$81
33 years$1,667$1,151$776$513$334$69
34 years$1,601$1,091$725$472$302$59
35 years$1,538$1,035$678$435$274$51
36 years$1,479$982$634$400$248$43
37 years$1,423$933$593$369$225$37
38 years$1,370$886$556$340$204$32
39 years$1,320$843$521$313$185$27
40 years$1,273$802$488$289$168$23
41 years$1,228$763$458$267$152$20
42 years$1,185$727$429$246$138$17
43 years$1,145$693$403$227$125$14
44 years$1,106$660$378$210$114$12
45 years$1,069$630$355$194$103$10
46 years$1,034$601$333$179$94$9
47 years$1,001$573$313$165$85$8
48 years$969$547$294$153$77$7
49 years$938$522$277$141$70$6
50 years$909$499$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 $931,000, adding $6,159 every year, while hoping to spend $51,950 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: 55/21/24 Blend
60$931,000$931,000$931,000$931,000
61$1,032,315$982,972$968,542$1,081,989
62$1,082,337$975,863$945,713$1,109,666
63$1,135,720$966,665$920,379$1,133,841
64$1,192,751$955,220$892,400$1,159,080
65$1,253,748$941,362$861,632$1,185,504
66$1,319,055$924,913$827,921$1,213,244
67$1,389,053$905,688$791,110$1,242,450
68$1,464,157$883,487$751,033$1,273,291
69$1,544,824$858,102$707,516$1,305,953
70$1,631,556$829,309$660,378$1,340,648
71$1,724,904$796,874$609,430$1,377,609
72$1,825,471$760,547$554,472$1,417,100
73$1,933,922$720,067$495,300$1,459,414
74$2,050,985$675,154$431,696$1,504,879
75$2,177,463$625,514$363,435$1,553,858
76$2,314,236$570,836$290,282$1,606,760
77$2,462,272$510,790$211,990$1,664,038
78$2,622,635$445,030$128,303$1,726,197
79$2,796,495$373,188$38,953$1,793,798
80$2,985,139$294,876$0$1,867,466
81$3,189,982$209,684$0$1,962,341
82$3,412,580$117,178$0$2,076,334
83$3,654,646$16,902$0$2,200,399
84$3,918,063$0$0$2,335,568
85$4,204,903$0$0$2,504,159
86$4,517,448$0$0$2,692,193
87$4,858,208$0$0$2,897,284
88$5,229,944$0$0$3,121,104
89$5,635,697$0$0$3,365,495
90$6,078,815$0$0$3,632,484
91$6,562,982$0$0$3,924,303
92$7,092,253$0$0$4,243,409
93$7,671,096$0$0$4,592,506
94$8,304,426$0$0$4,974,574
95$8,997,659$0$0$5,392,892
96$9,756,757$0$0$5,851,073
97$10,588,284$0$0$6,353,093
98$11,499,472$0$0$6,903,333
99$12,498,283$0$0$7,506,618
100$13,593,488$0$0$8,168,261