Can I retire at age 61 with 917,000?

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 $917,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$75,725$75,050$74,392$73,750$73,123$72,632
2 years$37,488$36,789$36,113$35,457$34,820$34,325
3 years$24,743$24,042$23,367$22,717$22,092$21,607
4 years$18,373$17,674$17,005$16,367$15,756$15,286
5 years$14,551$13,856$13,197$12,571$11,977$11,524
6 years$12,004$11,315$10,665$10,053$9,477$9,041
7 years$10,186$9,502$8,863$8,265$7,708$7,288
8 years$8,823$8,145$7,516$6,934$6,394$5,992
9 years$7,763$7,092$6,474$5,906$5,385$5,000
10 years$6,916$6,251$5,644$5,091$4,588$4,220
11 years$6,223$5,565$4,969$4,431$3,946$3,594
12 years$5,646$4,995$4,410$3,886$3,419$3,084
13 years$5,158$4,514$3,940$3,431$2,982$2,662
14 years$4,741$4,103$3,540$3,046$2,614$2,309
15 years$4,379$3,748$3,196$2,716$2,301$2,012
16 years$4,063$3,439$2,898$2,432$2,034$1,759
17 years$3,784$3,167$2,637$2,185$1,804$1,543
18 years$3,537$2,926$2,407$1,969$1,604$1,357
19 years$3,315$2,712$2,204$1,779$1,429$1,196
20 years$3,117$2,520$2,022$1,612$1,277$1,056
21 years$2,937$2,348$1,860$1,463$1,143$934
22 years$2,774$2,191$1,714$1,330$1,024$827
23 years$2,625$2,050$1,583$1,211$919$734
24 years$2,489$1,920$1,464$1,105$826$652
25 years$2,364$1,802$1,356$1,009$744$579
26 years$2,249$1,694$1,258$922$670$515
27 years$2,142$1,594$1,168$844$604$459
28 years$2,044$1,502$1,086$774$545$409
29 years$1,952$1,417$1,010$709$492$365
30 years$1,867$1,338$941$651$445$325
31 years$1,787$1,265$877$598$402$290
32 years$1,712$1,197$818$549$364$259
33 years$1,642$1,134$764$505$329$231
34 years$1,576$1,074$714$465$298$207
35 years$1,515$1,019$668$428$270$185
36 years$1,456$967$625$394$244$165
37 years$1,401$919$585$363$222$148
38 years$1,349$873$547$335$201$132
39 years$1,300$830$513$309$182$118
40 years$1,254$790$481$285$165$106
41 years$1,209$752$451$263$150$95
42 years$1,167$716$423$242$136$85
43 years$1,128$682$397$224$123$76
44 years$1,090$650$372$207$112$68
45 years$1,053$620$350$191$102$61
46 years$1,019$592$328$176$92$54
47 years$986$565$309$163$84$49
48 years$954$539$290$150$76$44
49 years$924$515$273$139$69$39
50 years$895$492$256$129$63$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $917,000, adding $6,846 every year, while hoping to spend $42,837 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: 73/15/12 Blend
60$917,000$917,000$917,000$917,000
61$1,017,596$968,995$954,781$1,088,892
62$1,075,812$970,897$941,188$1,138,857
63$1,138,531$971,457$925,704$1,187,602
64$1,206,166$970,564$908,220$1,239,831
65$1,279,173$968,099$888,623$1,295,874
66$1,358,050$963,937$866,794$1,356,101
67$1,443,348$957,947$842,608$1,420,917
68$1,535,669$949,986$815,935$1,490,769
69$1,635,678$939,906$786,639$1,566,151
70$1,744,104$927,548$754,579$1,647,608
71$1,861,749$912,745$719,604$1,735,740
72$1,989,497$895,318$681,559$1,831,210
73$2,128,316$875,080$640,282$1,934,749
74$2,279,276$851,830$595,603$2,047,164
75$2,443,551$825,358$547,345$2,169,345
76$2,622,433$795,441$495,321$2,302,273
77$2,817,344$761,841$439,337$2,447,032
78$3,029,851$724,308$379,192$2,604,817
79$3,261,675$682,579$314,675$2,776,944
80$3,514,712$636,372$245,563$2,964,870
81$3,791,051$585,392$171,627$3,170,197
82$4,092,987$529,325$92,626$3,394,695
83$4,423,052$467,842$8,309$3,640,317
84$4,784,029$400,593$0$3,909,215
85$5,178,986$327,207$0$4,214,221
86$5,611,298$247,296$0$4,549,313
87$6,084,684$160,447$0$4,916,352
88$6,603,238$66,225$0$5,318,563
89$7,171,469$0$0$5,759,500
90$7,794,342$0$0$6,248,997
91$8,477,327$0$0$6,797,762
92$9,226,447$0$0$7,399,709
93$10,048,337$0$0$8,060,175
94$10,950,305$0$0$8,785,038
95$11,940,400$0$0$9,580,773
96$13,027,490$0$0$10,454,511
97$14,221,341$0$0$11,414,111
98$15,532,714$0$0$12,468,228
99$16,973,463$0$0$13,626,395
100$18,556,645$0$0$14,899,117