Can I retire at age 61 with 941,000?

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 $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%16%
1 years$77,707$77,015$76,339$75,680$75,037$73,193
2 years$38,469$37,752$37,058$36,385$35,732$33,886
3 years$25,391$24,672$23,979$23,312$22,670$20,879
4 years$18,854$18,136$17,451$16,795$16,168$14,446
5 years$14,932$14,219$13,542$12,900$12,291$10,643
6 years$12,319$11,611$10,944$10,316$9,725$8,153
7 years$10,453$9,751$9,095$8,482$7,909$6,413
8 years$9,054$8,358$7,713$7,115$6,562$5,140
9 years$7,966$7,277$6,643$6,060$5,526$4,178
10 years$7,097$6,415$5,792$5,224$4,708$3,433
11 years$6,386$5,711$5,099$4,547$4,049$2,844
12 years$5,794$5,125$4,525$3,988$3,509$2,373
13 years$5,293$4,632$4,043$3,521$3,060$1,990
14 years$4,865$4,210$3,633$3,125$2,682$1,676
15 years$4,493$3,846$3,280$2,787$2,362$1,417
16 years$4,169$3,529$2,974$2,496$2,087$1,201
17 years$3,883$3,250$2,706$2,242$1,851$1,021
18 years$3,629$3,003$2,470$2,021$1,646$870
19 years$3,402$2,783$2,261$1,826$1,467$742
20 years$3,198$2,586$2,075$1,654$1,310$634
21 years$3,014$2,409$1,909$1,501$1,172$543
22 years$2,847$2,249$1,759$1,365$1,051$465
23 years$2,694$2,103$1,624$1,243$943$399
24 years$2,554$1,971$1,502$1,134$848$342
25 years$2,426$1,849$1,391$1,035$763$294
26 years$2,308$1,738$1,290$947$687$252
27 years$2,199$1,636$1,198$866$620$217
28 years$2,097$1,541$1,114$794$559$186
29 years$2,003$1,454$1,037$728$505$160
30 years$1,915$1,373$966$668$456$138
31 years$1,834$1,298$900$614$412$119
32 years$1,757$1,228$840$564$373$102
33 years$1,685$1,163$784$519$338$88
34 years$1,618$1,102$733$477$306$76
35 years$1,554$1,046$685$439$277$65
36 years$1,495$992$641$404$251$56
37 years$1,438$943$600$373$227$48
38 years$1,385$896$562$344$206$42
39 years$1,334$852$526$317$187$36
40 years$1,286$810$493$292$170$31
41 years$1,241$771$463$270$154$27
42 years$1,198$735$434$249$140$23
43 years$1,157$700$407$230$127$20
44 years$1,118$667$382$212$115$17
45 years$1,081$636$359$196$104$15
46 years$1,045$607$337$181$95$13
47 years$1,012$579$317$167$86$11
48 years$979$553$298$154$78$9
49 years$948$528$280$143$71$8
50 years$919$504$263$132$64$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $941,000, adding $6,760 every year, while hoping to spend $54,297 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: 64/21/15 Blend
60$941,000$941,000$941,000$941,000
61$1,043,955$994,082$979,496$1,106,551
62$1,092,667$985,020$954,538$1,140,259
63$1,144,527$973,695$926,924$1,170,207
64$1,199,801$959,938$896,507$1,201,595
65$1,258,776$943,570$863,135$1,234,566
66$1,321,769$924,403$826,648$1,269,276
67$1,389,127$902,236$786,879$1,305,900
68$1,461,230$876,858$743,652$1,344,633
69$1,538,497$848,045$696,785$1,385,691
70$1,621,383$815,559$646,087$1,429,316
71$1,710,392$779,149$591,358$1,475,774
72$1,806,073$738,549$532,391$1,525,365
73$1,909,033$693,478$468,966$1,578,420
74$2,019,935$643,639$400,857$1,635,305
75$2,139,508$588,717$327,826$1,696,430
76$2,268,555$528,381$249,624$1,762,249
77$2,407,955$462,279$165,994$1,833,265
78$2,558,676$390,041$76,665$1,910,038
79$2,721,781$311,273$0$1,993,186
80$2,898,441$225,563$0$2,086,387
81$3,089,939$132,473$0$2,200,703
82$3,297,689$31,541$0$2,324,747
83$3,523,246$0$0$2,459,506
84$3,768,319$0$0$2,624,034
85$4,034,790$0$0$2,810,910
86$4,324,727$0$0$3,014,302
87$4,640,406$0$0$3,235,815
88$4,984,334$0$0$3,477,216
89$5,359,266$0$0$3,740,447
90$5,768,236$0$0$4,027,646
91$6,214,585$0$0$4,341,169
92$6,701,989$0$0$4,683,607
93$7,234,493$0$0$5,057,811
94$7,816,553$0$0$5,466,924
95$8,453,074$0$0$5,914,402
96$9,149,455$0$0$6,404,054
97$9,911,644$0$0$6,940,071
98$10,746,188$0$0$7,527,070
99$11,660,297$0$0$8,170,135
100$12,661,913$0$0$8,874,864