Can I retire at age 61 with 941,000?

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 $941,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$77,707$77,015$76,339$75,680$75,037$73,462
2 years$38,469$37,752$37,058$36,385$35,732$34,152
3 years$25,391$24,672$23,979$23,312$22,670$21,135
4 years$18,854$18,136$17,451$16,795$16,168$14,690
5 years$14,932$14,219$13,542$12,900$12,291$10,874
6 years$12,319$11,611$10,944$10,316$9,725$8,371
7 years$10,453$9,751$9,095$8,482$7,909$6,618
8 years$9,054$8,358$7,713$7,115$6,562$5,332
9 years$7,966$7,277$6,643$6,060$5,526$4,358
10 years$7,097$6,415$5,792$5,224$4,708$3,601
11 years$6,386$5,711$5,099$4,547$4,049$3,000
12 years$5,794$5,125$4,525$3,988$3,509$2,517
13 years$5,293$4,632$4,043$3,521$3,060$2,124
14 years$4,865$4,210$3,633$3,125$2,682$1,800
15 years$4,493$3,846$3,280$2,787$2,362$1,531
16 years$4,169$3,529$2,974$2,496$2,087$1,307
17 years$3,883$3,250$2,706$2,242$1,851$1,118
18 years$3,629$3,003$2,470$2,021$1,646$959
19 years$3,402$2,783$2,261$1,826$1,467$824
20 years$3,198$2,586$2,075$1,654$1,310$709
21 years$3,014$2,409$1,909$1,501$1,172$611
22 years$2,847$2,249$1,759$1,365$1,051$527
23 years$2,694$2,103$1,624$1,243$943$455
24 years$2,554$1,971$1,502$1,134$848$393
25 years$2,426$1,849$1,391$1,035$763$340
26 years$2,308$1,738$1,290$947$687$294
27 years$2,199$1,636$1,198$866$620$255
28 years$2,097$1,541$1,114$794$559$221
29 years$2,003$1,454$1,037$728$505$191
30 years$1,915$1,373$966$668$456$166
31 years$1,834$1,298$900$614$412$144
32 years$1,757$1,228$840$564$373$125
33 years$1,685$1,163$784$519$338$108
34 years$1,618$1,102$733$477$306$94
35 years$1,554$1,046$685$439$277$81
36 years$1,495$992$641$404$251$71
37 years$1,438$943$600$373$227$61
38 years$1,385$896$562$344$206$53
39 years$1,334$852$526$317$187$46
40 years$1,286$810$493$292$170$40
41 years$1,241$771$463$270$154$35
42 years$1,198$735$434$249$140$30
43 years$1,157$700$407$230$127$26
44 years$1,118$667$382$212$115$23
45 years$1,081$636$359$196$104$20
46 years$1,045$607$337$181$95$17
47 years$1,012$579$317$167$86$15
48 years$979$553$298$154$78$13
49 years$948$528$280$143$71$11
50 years$919$504$263$132$64$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $941,000, adding $4,725 every year, while hoping to spend $57,257 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: 25/47/28 Blend
60$941,000$941,000$941,000$941,000
61$1,041,856$991,983$977,397$1,058,666
62$1,087,204$979,669$949,219$1,060,744
63$1,135,259$964,833$918,178$1,057,797
64$1,186,236$947,290$884,117$1,053,450
65$1,240,371$926,846$846,874$1,047,625
66$1,297,921$903,294$806,277$1,040,243
67$1,359,169$876,416$762,147$1,031,220
68$1,424,424$845,979$714,298$1,020,475
69$1,494,022$811,740$662,535$1,007,923
70$1,568,336$773,438$606,654$993,480
71$1,647,770$730,801$546,440$977,060
72$1,732,770$683,537$481,673$958,580
73$1,823,823$631,341$412,120$937,955
74$1,921,464$573,888$337,537$915,102
75$2,026,280$510,835$257,671$889,942
76$2,138,915$441,821$172,258$862,396
77$2,260,077$366,462$81,021$832,392
78$2,390,542$284,356$0$799,860
79$2,531,162$195,074$0$769,621
80$2,682,874$98,166$0$762,887
81$2,846,707$0$0$755,473
82$3,023,791$0$0$750,983
83$3,215,370$0$0$801,178
84$3,422,809$0$0$855,661
85$3,647,610$0$0$914,843
86$3,891,425$0$0$979,177
87$4,156,069$0$0$1,049,159
88$4,443,541$0$0$1,125,339
89$4,756,036$0$0$1,208,317
90$5,095,972$0$0$1,298,758
91$5,466,008$0$0$1,397,389
92$5,869,071$0$0$1,505,016
93$6,308,380$0$0$1,622,520
94$6,787,480$0$0$1,750,876
95$7,310,271$0$0$1,891,154
96$7,881,047$0$0$2,044,533
97$8,504,533$0$0$2,212,313
98$9,185,932$0$0$2,395,922
99$9,930,974$0$0$2,596,934
100$10,745,964$0$0$2,817,084