Can I retire at age 61 with 903,000?

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 $903,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$74,569$73,905$73,257$72,624$72,006$69,479
2 years$36,915$36,228$35,561$34,915$34,289$31,769
3 years$24,366$23,675$23,011$22,371$21,754$19,321
4 years$18,092$17,404$16,746$16,117$15,515$13,188
5 years$14,329$13,645$12,995$12,379$11,794$9,579
6 years$11,821$11,142$10,502$9,900$9,333$7,230
7 years$10,030$9,357$8,727$8,139$7,590$5,600
8 years$8,688$8,021$7,402$6,828$6,297$4,418
9 years$7,644$6,983$6,375$5,816$5,303$3,533
10 years$6,810$6,156$5,558$5,013$4,518$2,854
11 years$6,128$5,480$4,893$4,363$3,886$2,324
12 years$5,560$4,919$4,342$3,827$3,367$1,904
13 years$5,080$4,445$3,880$3,379$2,936$1,568
14 years$4,668$4,040$3,486$2,999$2,574$1,296
15 years$4,312$3,691$3,147$2,675$2,266$1,075
16 years$4,001$3,386$2,854$2,395$2,003$894
17 years$3,726$3,119$2,597$2,152$1,776$745
18 years$3,483$2,882$2,370$1,939$1,579$622
19 years$3,265$2,671$2,170$1,752$1,408$520
20 years$3,069$2,482$1,991$1,587$1,257$436
21 years$2,892$2,312$1,832$1,440$1,125$365
22 years$2,732$2,158$1,688$1,310$1,008$306
23 years$2,585$2,018$1,559$1,193$905$257
24 years$2,451$1,891$1,442$1,088$814$216
25 years$2,328$1,775$1,335$993$732$181
26 years$2,215$1,668$1,238$908$660$152
27 years$2,110$1,570$1,150$831$595$128
28 years$2,013$1,479$1,069$762$537$108
29 years$1,922$1,395$995$699$484$91
30 years$1,838$1,318$927$641$438$76
31 years$1,760$1,246$864$589$396$64
32 years$1,686$1,179$806$541$358$54
33 years$1,617$1,116$753$498$324$46
34 years$1,552$1,058$703$458$293$38
35 years$1,492$1,003$657$421$266$32
36 years$1,434$952$615$388$241$27
37 years$1,380$905$576$358$218$23
38 years$1,329$860$539$330$198$19
39 years$1,280$817$505$304$179$16
40 years$1,235$778$473$280$163$14
41 years$1,191$740$444$259$148$12
42 years$1,150$705$416$239$134$10
43 years$1,110$672$391$220$122$8
44 years$1,073$640$367$203$110$7
45 years$1,037$611$344$188$100$6
46 years$1,003$583$323$174$91$5
47 years$971$556$304$160$83$4
48 years$940$531$286$148$75$3
49 years$910$507$268$137$68$3
50 years$882$484$252$127$62$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $903,000, adding $4,971 every year, while hoping to spend $51,214 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: 51/36/13 Blend
60$903,000$903,000$903,000$903,000
61$1,000,234$952,375$938,378$1,047,502
62$1,047,766$944,550$915,322$1,072,577
63$1,098,430$934,625$889,778$1,093,998
64$1,152,492$922,443$861,607$1,116,128
65$1,210,242$907,838$830,666$1,139,047
66$1,271,998$890,634$796,805$1,162,848
67$1,338,110$870,643$759,867$1,187,636
68$1,408,961$847,669$719,686$1,213,529
69$1,484,971$821,501$676,092$1,240,663
70$1,566,602$791,918$628,905$1,269,187
71$1,654,360$758,686$577,937$1,299,274
72$1,748,799$721,556$522,993$1,331,115
73$1,850,531$680,267$463,867$1,364,927
74$1,960,225$634,539$400,346$1,400,953
75$2,078,617$584,081$332,207$1,439,466
76$2,206,516$528,582$259,217$1,480,773
77$2,344,812$467,713$181,131$1,525,216
78$2,494,480$401,129$97,697$1,573,181
79$2,656,595$328,462$8,648$1,625,095
80$2,832,338$249,327$0$1,681,441
81$3,023,007$163,314$0$1,754,737
82$3,230,030$69,993$0$1,835,660
83$3,454,977$0$0$1,923,718
84$3,699,577$0$0$2,032,019
85$3,965,730$0$0$2,180,115
86$4,255,528$0$0$2,341,453
87$4,571,272$0$0$2,517,325
88$4,915,495$0$0$2,709,152
89$5,290,984$0$0$2,918,501
90$5,700,807$0$0$3,147,093
91$6,148,342$0$0$3,396,825
92$6,637,306$0$0$3,669,784
93$7,171,792$0$0$3,968,270
94$7,756,306$0$0$4,294,812
95$8,395,810$0$0$4,652,198
96$9,095,766$0$0$5,043,496
97$9,862,192$0$0$5,472,084
98$10,701,710$0$0$5,941,684
99$11,621,616$0$0$6,456,394
100$12,629,946$0$0$7,020,727