Can I retire at age 61 with 923,000?

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 $923,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$76,220$75,542$74,879$74,233$73,601$72,954
2 years$37,733$37,030$36,349$35,689$35,048$34,396
3 years$24,905$24,200$23,520$22,866$22,236$21,599
4 years$18,493$17,789$17,117$16,474$15,859$15,242
5 years$14,646$13,947$13,283$12,653$12,056$11,461
6 years$12,083$11,389$10,735$10,119$9,539$8,967
7 years$10,253$9,564$8,921$8,319$7,758$7,209
8 years$8,880$8,198$7,565$6,979$6,436$5,910
9 years$7,814$7,138$6,516$5,945$5,420$4,917
10 years$6,961$6,292$5,681$5,124$4,618$4,137
11 years$6,264$5,601$5,001$4,460$3,972$3,513
12 years$5,683$5,027$4,439$3,912$3,442$3,005
13 years$5,192$4,543$3,966$3,453$3,001$2,585
14 years$4,772$4,130$3,563$3,066$2,631$2,236
15 years$4,407$3,773$3,217$2,734$2,317$1,941
16 years$4,089$3,461$2,917$2,448$2,047$1,692
17 years$3,809$3,188$2,654$2,199$1,815$1,478
18 years$3,560$2,946$2,423$1,982$1,614$1,295
19 years$3,337$2,730$2,218$1,791$1,439$1,138
20 years$3,137$2,537$2,036$1,622$1,285$1,001
21 years$2,956$2,363$1,872$1,472$1,150$882
22 years$2,792$2,206$1,726$1,339$1,031$778
23 years$2,642$2,063$1,593$1,219$925$688
24 years$2,505$1,933$1,474$1,112$832$608
25 years$2,380$1,814$1,365$1,015$748$539
26 years$2,264$1,705$1,266$928$674$477
27 years$2,157$1,604$1,175$850$608$423
28 years$2,057$1,512$1,093$779$548$376
29 years$1,965$1,426$1,017$714$495$334
30 years$1,879$1,347$947$655$447$296
31 years$1,799$1,273$883$602$405$264
32 years$1,723$1,205$824$553$366$234
33 years$1,653$1,141$769$509$331$208
34 years$1,587$1,081$719$468$300$185
35 years$1,525$1,026$672$431$272$165
36 years$1,466$973$629$397$246$147
37 years$1,411$925$588$366$223$131
38 years$1,358$879$551$337$202$117
39 years$1,309$836$516$311$183$104
40 years$1,262$795$484$287$166$92
41 years$1,217$757$454$264$151$82
42 years$1,175$721$426$244$137$73
43 years$1,135$687$399$225$124$65
44 years$1,097$655$375$208$113$58
45 years$1,060$624$352$192$102$52
46 years$1,025$595$331$177$93$46
47 years$992$568$311$164$84$41
48 years$961$542$292$151$77$37
49 years$930$518$274$140$70$33
50 years$901$495$258$129$63$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $923,000, adding $4,499 every year, while hoping to spend $31,533 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: 53/42/5 Blend
60$923,000$923,000$923,000$923,000
61$1,021,787$972,868$958,561$1,074,590
62$1,092,458$986,987$957,122$1,124,928
63$1,169,281$1,000,742$954,578$1,175,806
64$1,252,850$1,014,081$950,859$1,230,383
65$1,343,818$1,026,948$945,890$1,289,012
66$1,442,905$1,039,286$939,595$1,352,084
67$1,550,903$1,051,033$931,893$1,420,030
68$1,668,682$1,062,120$922,698$1,493,324
69$1,797,202$1,072,479$911,923$1,572,491
70$1,937,518$1,082,031$899,473$1,658,110
71$2,090,791$1,090,697$885,252$1,750,817
72$2,258,302$1,098,391$869,158$1,851,318
73$2,441,457$1,105,020$851,083$1,960,388
74$2,641,807$1,110,488$830,916$2,078,885
75$2,861,060$1,114,690$808,540$2,207,754
76$3,101,095$1,117,517$783,833$2,348,038
77$3,363,982$1,118,851$756,667$2,500,888
78$3,652,000$1,118,567$726,907$2,667,574
79$3,967,661$1,116,533$694,415$2,849,496
80$4,313,728$1,112,609$659,044$3,048,200
81$4,693,247$1,106,646$620,641$3,265,391
82$5,109,572$1,098,485$579,046$3,502,951
83$5,566,397$1,087,960$534,093$3,762,954
84$6,067,791$1,074,891$485,607$4,047,689
85$6,618,237$1,059,092$433,405$4,359,683
86$7,222,671$1,040,361$377,298$4,701,722
87$7,886,532$1,018,488$317,087$5,076,879
88$8,615,813$993,248$252,564$5,488,543
89$9,417,113$964,405$183,512$5,940,455
90$10,297,704$931,706$109,705$6,436,739
91$11,265,597$894,887$30,907$6,981,945
92$12,329,617$853,665$0$7,581,091
93$13,499,488$807,745$0$8,242,549
94$14,785,921$756,809$0$8,971,530
95$16,200,719$700,527$0$9,773,130
96$17,756,885$638,546$0$10,654,790
97$19,468,747$570,494$0$11,624,712
98$21,352,089$495,978$0$12,691,944
99$23,424,304$414,584$0$13,866,461
100$25,704,556$325,871$0$15,159,262