Can I retire at age 61 with 937,000?

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 $937,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$77,377$76,687$76,015$75,359$74,718$72,182
2 years$38,305$37,592$36,900$36,230$35,580$33,050
3 years$25,283$24,567$23,877$23,213$22,573$20,130
4 years$18,773$18,059$17,376$16,724$16,099$13,760
5 years$14,869$14,159$13,485$12,845$12,239$10,010
6 years$12,266$11,562$10,898$10,273$9,684$7,568
7 years$10,408$9,709$9,056$8,446$7,876$5,872
8 years$9,015$8,323$7,680$7,085$6,534$4,641
9 years$7,932$7,246$6,615$6,035$5,502$3,718
10 years$7,067$6,387$5,767$5,202$4,688$3,009
11 years$6,359$5,686$5,077$4,527$4,032$2,455
12 years$5,769$5,104$4,506$3,971$3,494$2,016
13 years$5,271$4,612$4,026$3,506$3,047$1,663
14 years$4,844$4,192$3,617$3,112$2,671$1,378
15 years$4,474$3,830$3,266$2,775$2,352$1,145
16 years$4,151$3,514$2,961$2,485$2,078$954
17 years$3,866$3,236$2,694$2,233$1,843$797
18 years$3,614$2,990$2,460$2,012$1,639$667
19 years$3,388$2,771$2,252$1,818$1,460$559
20 years$3,185$2,575$2,066$1,647$1,305$469
21 years$3,001$2,399$1,901$1,495$1,167$394
22 years$2,834$2,239$1,752$1,359$1,046$331
23 years$2,682$2,094$1,617$1,238$939$279
24 years$2,543$1,962$1,496$1,129$844$235
25 years$2,416$1,841$1,386$1,031$760$198
26 years$2,298$1,731$1,285$943$684$167
27 years$2,189$1,629$1,193$863$617$140
28 years$2,088$1,535$1,109$790$557$118
29 years$1,995$1,448$1,032$725$503$100
30 years$1,907$1,367$962$665$454$84
31 years$1,826$1,293$896$611$411$71
32 years$1,750$1,223$836$561$371$60
33 years$1,678$1,158$781$516$336$51
34 years$1,611$1,098$730$475$304$43
35 years$1,548$1,041$682$437$276$36
36 years$1,488$988$638$403$250$30
37 years$1,432$939$597$371$226$26
38 years$1,379$892$559$342$205$22
39 years$1,329$848$524$315$186$18
40 years$1,281$807$491$291$169$15
41 years$1,236$768$461$268$153$13
42 years$1,193$732$432$248$139$11
43 years$1,152$697$405$229$126$9
44 years$1,113$664$381$211$114$8
45 years$1,076$634$357$195$104$7
46 years$1,041$604$336$180$94$6
47 years$1,007$577$315$166$86$5
48 years$975$551$296$154$78$4
49 years$944$526$278$142$71$3
50 years$915$502$262$131$64$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $937,000, adding $3,623 every year, while hoping to spend $58,590 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: 77/9/14 Blend
60$937,000$937,000$937,000$937,000
61$1,036,311$986,650$972,127$1,112,831
62$1,079,676$972,657$942,354$1,149,789
63$1,125,499$956,014$909,619$1,182,537
64$1,173,972$936,530$873,763$1,216,818
65$1,225,299$914,002$834,616$1,252,763
66$1,279,707$888,215$792,003$1,290,519
67$1,337,441$858,942$745,739$1,330,245
68$1,398,770$825,941$695,632$1,372,121
69$1,463,990$788,957$641,481$1,416,344
70$1,533,423$747,722$583,076$1,463,131
71$1,607,421$701,949$520,199$1,512,722
72$1,686,371$651,338$452,618$1,565,386
73$1,770,697$595,569$380,096$1,621,415
74$1,860,861$534,305$302,383$1,681,137
75$1,957,373$467,190$219,217$1,744,912
76$2,060,790$393,848$130,326$1,813,137
77$2,171,725$313,880$35,426$1,886,254
78$2,290,848$226,867$0$1,964,751
79$2,418,896$132,366$0$2,059,001
80$2,556,679$29,906$0$2,166,052
81$2,705,083$0$0$2,281,312
82$2,865,084$0$0$2,413,582
83$3,037,755$0$0$2,559,547
84$3,224,271$0$0$2,717,243
85$3,425,927$0$0$2,887,768
86$3,644,145$0$0$3,072,327
87$3,880,487$0$0$3,272,246
88$4,136,672$0$0$3,488,984
89$4,414,589$0$0$3,724,142
90$4,716,318$0$0$3,979,484
91$5,044,143$0$0$4,256,948
92$5,400,580$0$0$4,558,667
93$5,788,394$0$0$4,886,989
94$6,210,628$0$0$5,244,494
95$6,670,634$0$0$5,634,024
96$7,172,095$0$0$6,058,707
97$7,719,068$0$0$6,521,982
98$8,316,019$0$0$7,027,637
99$8,967,861$0$0$7,579,843
100$9,680,004$0$0$8,183,188