Can I retire at age 61 with 938,000?

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 $938,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$77,459$76,769$76,096$75,439$74,797$72,058
2 years$38,346$37,632$36,940$36,269$35,618$32,888
3 years$25,310$24,593$23,903$23,238$22,597$19,963
4 years$18,793$18,078$17,395$16,741$16,117$13,599
5 years$14,884$14,174$13,499$12,859$12,252$9,856
6 years$12,279$11,574$10,909$10,283$9,694$7,423
7 years$10,419$9,720$9,066$8,455$7,884$5,736
8 years$9,025$8,332$7,688$7,092$6,541$4,515
9 years$7,941$7,254$6,622$6,041$5,508$3,601
10 years$7,074$6,394$5,773$5,208$4,693$2,902
11 years$6,365$5,692$5,083$4,532$4,036$2,357
12 years$5,775$5,109$4,511$3,975$3,498$1,926
13 years$5,276$4,617$4,030$3,510$3,050$1,582
14 years$4,849$4,197$3,621$3,115$2,674$1,304
15 years$4,479$3,834$3,269$2,778$2,354$1,078
16 years$4,156$3,518$2,964$2,488$2,081$894
17 years$3,871$3,240$2,697$2,235$1,845$743
18 years$3,618$2,993$2,462$2,014$1,640$619
19 years$3,391$2,774$2,254$1,820$1,462$516
20 years$3,188$2,578$2,069$1,649$1,306$430
21 years$3,004$2,401$1,903$1,496$1,169$360
22 years$2,837$2,242$1,754$1,360$1,048$301
23 years$2,685$2,096$1,619$1,239$940$252
24 years$2,546$1,964$1,497$1,130$845$211
25 years$2,418$1,843$1,387$1,032$761$176
26 years$2,300$1,732$1,286$944$685$148
27 years$2,192$1,630$1,194$864$618$124
28 years$2,091$1,536$1,110$791$557$104
29 years$1,997$1,449$1,033$726$503$87
30 years$1,909$1,369$963$666$455$73
31 years$1,828$1,294$897$612$411$61
32 years$1,751$1,224$837$562$372$51
33 years$1,680$1,159$782$517$337$43
34 years$1,613$1,099$730$476$305$36
35 years$1,549$1,042$683$438$276$30
36 years$1,490$989$639$403$250$26
37 years$1,434$940$598$371$227$21
38 years$1,380$893$560$342$205$18
39 years$1,330$849$525$316$186$15
40 years$1,282$808$492$291$169$13
41 years$1,237$769$461$269$153$11
42 years$1,194$732$432$248$139$9
43 years$1,153$698$406$229$126$7
44 years$1,114$665$381$211$115$6
45 years$1,077$634$358$195$104$5
46 years$1,042$605$336$180$94$4
47 years$1,008$577$316$167$86$4
48 years$976$551$297$154$78$3
49 years$945$526$279$142$71$3
50 years$916$503$262$131$64$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $938,000, adding $4,556 every year, while hoping to spend $49,948 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: 88/6/6 Blend
60$938,000$938,000$938,000$938,000
61$1,038,376$988,662$974,123$1,129,162
62$1,091,146$983,962$953,611$1,184,247
63$1,147,624$977,357$930,739$1,237,342
64$1,208,137$968,703$905,374$1,294,070
65$1,273,040$957,843$877,377$1,354,760
66$1,342,727$944,614$846,606$1,419,773
67$1,417,626$928,841$812,909$1,489,505
68$1,498,211$910,341$776,127$1,564,392
69$1,584,998$888,917$736,098$1,644,915
70$1,678,558$864,365$692,647$1,731,603
71$1,779,515$836,463$645,595$1,825,037
72$1,888,558$804,981$594,754$1,925,857
73$2,006,439$769,674$539,927$2,034,768
74$2,133,990$730,282$480,909$2,152,546
75$2,272,122$686,531$417,485$2,280,045
76$2,421,839$638,131$349,431$2,418,205
77$2,584,242$584,776$276,512$2,568,062
78$2,760,545$526,140$198,485$2,730,757
79$2,952,081$461,881$115,095$2,907,546
80$3,160,317$391,637$26,075$3,099,812
81$3,386,868$315,026$0$3,309,081
82$3,633,510$231,643$0$3,541,443
83$3,902,196$141,062$0$3,796,405
84$4,195,077$42,831$0$4,074,352
85$4,514,520$0$0$4,377,549
86$4,863,130$0$0$4,712,686
87$5,243,774$0$0$5,081,713
88$5,659,609$0$0$5,484,863
89$6,114,109$0$0$5,925,506
90$6,611,101$0$0$6,407,352
91$7,154,797$0$0$6,934,486
92$7,749,835$0$0$7,511,405
93$8,401,322$0$0$8,143,063
94$9,114,883$0$0$8,834,913
95$9,896,710$0$0$9,592,961
96$10,753,625$0$0$10,423,822
97$11,693,140$0$0$11,334,781
98$12,723,529$0$0$12,333,861
99$13,853,905$0$0$13,429,900
100$15,094,305$0$0$14,632,631