Can I retire at age 61 with 915,000?

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 $915,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$75,560$74,887$74,230$73,589$72,963$72,595
2 years$37,406$36,709$36,034$35,379$34,744$34,373
3 years$24,690$23,990$23,316$22,668$22,043$21,680
4 years$18,333$17,635$16,968$16,331$15,721$15,369
5 years$14,519$13,826$13,168$12,544$11,951$11,610
6 years$11,978$11,290$10,642$10,031$9,457$9,128
7 years$10,164$9,481$8,843$8,247$7,691$7,375
8 years$8,803$8,127$7,500$6,918$6,380$6,077
9 years$7,746$7,076$6,460$5,893$5,373$5,082
10 years$6,901$6,237$5,632$5,080$4,578$4,300
11 years$6,209$5,553$4,958$4,421$3,937$3,671
12 years$5,634$4,984$4,400$3,878$3,412$3,158
13 years$5,147$4,504$3,931$3,424$2,975$2,733
14 years$4,730$4,094$3,532$3,039$2,608$2,377
15 years$4,369$3,740$3,189$2,710$2,296$2,076
16 years$4,054$3,431$2,891$2,427$2,030$1,821
17 years$3,776$3,160$2,631$2,180$1,800$1,601
18 years$3,529$2,920$2,402$1,965$1,600$1,412
19 years$3,308$2,706$2,199$1,776$1,426$1,248
20 years$3,110$2,515$2,018$1,608$1,274$1,105
21 years$2,931$2,342$1,856$1,459$1,140$980
22 years$2,768$2,187$1,711$1,327$1,022$871
23 years$2,620$2,045$1,580$1,208$917$775
24 years$2,484$1,916$1,461$1,102$824$690
25 years$2,359$1,798$1,353$1,007$742$615
26 years$2,244$1,690$1,255$920$668$549
27 years$2,138$1,590$1,165$842$603$491
28 years$2,039$1,499$1,083$772$544$439
29 years$1,948$1,414$1,008$708$491$392
30 years$1,863$1,335$939$650$444$351
31 years$1,783$1,262$875$597$401$314
32 years$1,708$1,194$817$548$363$282
33 years$1,639$1,131$763$504$328$252
34 years$1,573$1,072$712$464$297$226
35 years$1,511$1,017$666$427$269$203
36 years$1,453$965$623$393$244$182
37 years$1,398$917$583$362$221$163
38 years$1,347$871$546$334$200$147
39 years$1,297$828$512$308$182$132
40 years$1,251$788$480$284$165$118
41 years$1,207$750$450$262$150$106
42 years$1,165$714$422$242$136$95
43 years$1,125$681$396$223$123$86
44 years$1,087$649$372$206$112$77
45 years$1,051$619$349$190$101$69
46 years$1,017$590$328$176$92$62
47 years$984$563$308$162$84$56
48 years$952$538$289$150$76$50
49 years$922$514$272$139$69$45
50 years$893$491$256$128$63$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $915,000, adding $5,312 every year, while hoping to spend $51,749 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: 56/37/7 Blend
60$915,000$915,000$915,000$915,000
61$1,013,809$965,314$951,132$1,068,694
62$1,062,157$957,554$927,934$1,098,538
63$1,113,702$947,679$902,225$1,124,789
64$1,168,716$935,532$873,866$1,152,112
65$1,227,496$920,943$842,711$1,180,613
66$1,290,367$903,737$808,609$1,210,414
67$1,357,689$883,723$771,401$1,241,652
68$1,429,851$860,704$730,921$1,274,479
69$1,507,285$834,468$686,996$1,309,067
70$1,590,462$804,791$639,444$1,345,606
71$1,679,901$771,437$588,077$1,384,311
72$1,776,169$734,156$532,696$1,425,421
73$1,879,892$692,683$473,095$1,469,206
74$1,991,755$646,738$409,058$1,515,962
75$2,112,511$596,026$340,359$1,566,026
76$2,242,989$540,233$266,762$1,619,769
77$2,384,099$479,029$188,023$1,677,606
78$2,536,839$412,064$103,885$1,740,002
79$2,702,311$338,969$14,079$1,807,471
80$2,881,722$259,354$0$1,880,589
81$3,076,401$172,806$0$1,966,101
82$3,287,812$78,891$0$2,060,132
83$3,517,561$0$0$2,162,443
84$3,767,419$0$0$2,283,241
85$4,039,330$0$0$2,449,729
86$4,335,437$0$0$2,631,107
87$4,658,095$0$0$2,828,828
88$5,009,899$0$0$3,044,491
89$5,393,702$0$0$3,279,856
90$5,812,646$0$0$3,536,861
91$6,270,189$0$0$3,817,637
92$6,770,138$0$0$4,124,533
93$7,316,684$0$0$4,460,134
94$7,914,441$0$0$4,827,285
95$8,568,491$0$0$5,229,121
96$9,284,427$0$0$5,669,092
97$10,068,410$0$0$6,150,997
98$10,927,224$0$0$6,679,022
99$11,868,340$0$0$7,257,775
100$12,899,985$0$0$7,892,332