Can I retire at age 61 with 940,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $940,000?

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 years$77,624$76,933$76,258$75,600$74,957$74,329
2 years$38,428$37,712$37,019$36,346$35,694$35,061
3 years$25,364$24,645$23,953$23,287$22,646$22,027
4 years$18,834$18,117$17,432$16,777$16,151$15,552
5 years$14,916$14,204$13,528$12,886$12,278$11,700
6 years$12,305$11,599$10,933$10,305$9,715$9,159
7 years$10,441$9,740$9,085$8,473$7,901$7,367
8 years$9,044$8,349$7,705$7,108$6,555$6,043
9 years$7,958$7,270$6,636$6,054$5,520$5,030
10 years$7,089$6,408$5,786$5,219$4,703$4,236
11 years$6,379$5,704$5,094$4,542$4,045$3,599
12 years$5,788$5,120$4,520$3,984$3,505$3,080
13 years$5,288$4,627$4,039$3,517$3,057$2,652
14 years$4,859$4,206$3,629$3,122$2,679$2,295
15 years$4,489$3,842$3,276$2,784$2,359$1,994
16 years$4,165$3,525$2,970$2,493$2,085$1,739
17 years$3,879$3,246$2,703$2,240$1,849$1,521
18 years$3,625$3,000$2,467$2,019$1,644$1,333
19 years$3,399$2,780$2,259$1,824$1,465$1,172
20 years$3,195$2,584$2,073$1,652$1,309$1,032
21 years$3,011$2,406$1,907$1,499$1,171$910
22 years$2,843$2,246$1,757$1,363$1,050$804
23 years$2,691$2,101$1,623$1,242$942$711
24 years$2,552$1,968$1,501$1,132$847$629
25 years$2,423$1,847$1,390$1,034$762$557
26 years$2,305$1,736$1,289$946$687$494
27 years$2,196$1,634$1,197$865$619$439
28 years$2,095$1,540$1,113$793$559$390
29 years$2,001$1,452$1,036$727$504$346
30 years$1,913$1,372$965$667$456$308
31 years$1,832$1,297$899$613$412$274
32 years$1,755$1,227$839$563$373$244
33 years$1,683$1,162$783$518$337$217
34 years$1,616$1,101$732$477$305$193
35 years$1,553$1,045$684$439$277$172
36 years$1,493$991$640$404$251$153
37 years$1,437$942$599$372$227$137
38 years$1,383$895$561$343$206$122
39 years$1,333$851$526$316$187$109
40 years$1,285$810$493$292$169$97
41 years$1,240$771$462$269$154$86
42 years$1,197$734$433$248$139$77
43 years$1,156$699$407$229$127$69
44 years$1,117$667$382$212$115$61
45 years$1,080$636$358$196$104$55
46 years$1,044$606$337$181$95$49
47 years$1,011$579$316$167$86$44
48 years$978$552$297$154$78$39
49 years$947$528$279$143$71$35
50 years$918$504$263$132$64$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $940,000, adding $5,350 every year, while hoping to spend $53,818 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: 87/5/8 Blend
60$940,000$940,000$940,000$940,000
61$1,041,399$991,579$977,009$1,130,700
62$1,090,359$982,904$952,476$1,181,050
63$1,142,510$972,001$925,319$1,228,401
64$1,198,120$958,702$895,391$1,278,720
65$1,257,483$942,833$862,541$1,332,265
66$1,320,921$924,207$826,611$1,389,324
67$1,388,788$902,626$787,435$1,450,211
68$1,461,471$877,881$744,841$1,515,273
69$1,539,395$849,752$698,647$1,584,892
70$1,623,026$818,002$648,665$1,659,485
71$1,712,876$782,386$594,696$1,739,514
72$1,809,506$742,639$536,535$1,825,487
73$1,913,532$698,486$473,966$1,917,964
74$2,025,633$649,631$406,764$2,017,558
75$2,146,550$595,766$334,693$2,124,948
76$2,277,102$536,562$257,509$2,240,880
77$2,418,185$471,673$174,954$2,366,174
78$2,570,787$400,731$86,762$2,501,737
79$2,735,991$323,351$0$2,648,563
80$2,914,990$239,124$0$2,808,380
81$3,109,095$147,617$0$2,989,711
82$3,319,747$48,374$0$3,186,503
83$3,548,532$0$0$3,400,249
84$3,797,192$0$0$3,635,846
85$4,067,648$0$0$3,894,995
86$4,362,009$0$0$4,177,059
87$4,682,598$0$0$4,484,264
88$5,031,971$0$0$4,819,060
89$5,412,939$0$0$5,184,143
90$5,828,599$0$0$5,582,481
91$6,282,358$0$0$6,017,340
92$6,777,966$0$0$6,492,317
93$7,319,553$0$0$7,011,369
94$7,911,664$0$0$7,578,855
95$8,559,305$0$0$8,199,573
96$9,267,985$0$0$8,878,806
97$10,043,773$0$0$9,622,371
98$10,893,350$0$0$10,436,675
99$11,824,075$0$0$11,328,771
100$12,844,052$0$0$12,306,429