Can I retire at age 61 with 942,000?

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 $942,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$77,789$77,097$76,421$75,761$75,116$73,963
2 years$38,510$37,792$37,097$36,423$35,770$34,611
3 years$25,418$24,698$24,004$23,337$22,694$21,565
4 years$18,874$18,155$17,469$16,813$16,185$15,096
5 years$14,948$14,234$13,557$12,914$12,304$11,256
6 years$12,332$11,623$10,956$10,327$9,736$8,731
7 years$10,464$9,761$9,104$8,491$7,918$6,957
8 years$9,063$8,367$7,721$7,123$6,568$5,651
9 years$7,975$7,285$6,650$6,067$5,532$4,657
10 years$7,104$6,421$5,798$5,230$4,713$3,881
11 years$6,393$5,717$5,104$4,551$4,054$3,263
12 years$5,800$5,131$4,530$3,992$3,513$2,763
13 years$5,299$4,637$4,047$3,525$3,063$2,352
14 years$4,870$4,215$3,636$3,129$2,685$2,013
15 years$4,498$3,850$3,283$2,790$2,364$1,729
16 years$4,173$3,533$2,977$2,498$2,089$1,490
17 years$3,887$3,253$2,709$2,245$1,853$1,288
18 years$3,633$3,006$2,473$2,023$1,647$1,115
19 years$3,406$2,786$2,264$1,828$1,468$968
20 years$3,202$2,589$2,077$1,656$1,312$842
21 years$3,017$2,412$1,911$1,503$1,174$733
22 years$2,850$2,251$1,761$1,366$1,052$639
23 years$2,697$2,105$1,626$1,244$944$558
24 years$2,557$1,973$1,504$1,135$849$487
25 years$2,429$1,851$1,393$1,036$764$426
26 years$2,310$1,740$1,292$948$688$373
27 years$2,201$1,637$1,200$867$620$327
28 years$2,100$1,543$1,115$795$560$286
29 years$2,005$1,456$1,038$729$505$251
30 years$1,918$1,375$967$669$457$220
31 years$1,836$1,299$901$614$413$193
32 years$1,759$1,230$841$564$373$169
33 years$1,687$1,164$785$519$338$149
34 years$1,619$1,104$734$478$306$130
35 years$1,556$1,047$686$440$277$115
36 years$1,496$994$642$405$251$101
37 years$1,440$944$600$373$228$88
38 years$1,386$897$562$344$206$78
39 years$1,336$853$527$317$187$68
40 years$1,288$811$494$292$170$60
41 years$1,242$772$463$270$154$53
42 years$1,199$736$434$249$140$46
43 years$1,158$701$408$230$127$41
44 years$1,119$668$383$212$115$36
45 years$1,082$637$359$196$104$31
46 years$1,047$608$337$181$95$28
47 years$1,013$580$317$167$86$24
48 years$980$554$298$155$78$21
49 years$949$529$280$143$71$19
50 years$920$505$263$132$65$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $942,000, adding $2,708 every year, while hoping to spend $47,737 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: 37/33/30 Blend
60$942,000$942,000$942,000$942,000
61$1,040,877$990,951$976,350$1,069,984
62$1,096,255$988,716$958,266$1,089,610
63$1,155,681$984,771$937,976$1,106,286
64$1,219,519$978,983$915,357$1,123,404
65$1,288,165$971,209$890,277$1,141,036
66$1,362,058$961,298$862,601$1,159,265
67$1,441,676$949,090$832,186$1,178,188
68$1,527,547$934,415$798,884$1,197,916
69$1,620,250$917,095$762,540$1,218,573
70$1,720,420$896,937$722,990$1,240,303
71$1,828,758$873,742$680,065$1,263,269
72$1,946,030$847,294$633,586$1,287,656
73$2,073,083$817,370$583,369$1,313,671
74$2,210,845$783,728$529,219$1,341,551
75$2,360,337$746,117$470,934$1,371,562
76$2,522,683$704,268$408,302$1,404,004
77$2,699,118$657,899$341,102$1,439,215
78$2,891,002$606,710$269,103$1,477,573
79$3,099,831$550,385$192,064$1,519,505
80$3,327,249$488,589$109,733$1,565,488
81$3,575,068$420,969$21,849$1,616,055
82$3,845,280$347,152$0$1,671,807
83$4,140,078$266,742$0$1,756,440
84$4,461,878$179,324$0$1,856,633
85$4,813,335$84,457$0$1,966,318
86$5,197,376$0$0$2,086,524
87$5,617,222$0$0$2,225,047
88$6,076,417$0$0$2,410,222
89$6,578,867$0$0$2,612,969
90$7,128,871$0$0$2,835,038
91$7,731,162$0$0$3,078,358
92$8,390,954$0$0$3,345,052
93$9,113,988$0$0$3,637,460
94$9,906,587$0$0$3,958,156
95$10,775,715$0$0$4,309,977
96$11,729,041$0$0$4,696,050
97$12,775,014$0$0$5,119,815
98$13,922,939$0$0$5,585,064
99$15,183,065$0$0$6,095,974
100$16,566,685$0$0$6,657,146