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%11.1%
1 years$77,789$77,097$76,421$75,761$75,116$74,768
2 years$38,510$37,792$37,097$36,423$35,770$35,418
3 years$25,418$24,698$24,004$23,337$22,694$22,350
4 years$18,874$18,155$17,469$16,813$16,185$15,852
5 years$14,948$14,234$13,557$12,914$12,304$11,982
6 years$12,332$11,623$10,956$10,327$9,736$9,425
7 years$10,464$9,761$9,104$8,491$7,918$7,619
8 years$9,063$8,367$7,721$7,123$6,568$6,282
9 years$7,975$7,285$6,650$6,067$5,532$5,257
10 years$7,104$6,421$5,798$5,230$4,713$4,450
11 years$6,393$5,717$5,104$4,551$4,054$3,802
12 years$5,800$5,131$4,530$3,992$3,513$3,272
13 years$5,299$4,637$4,047$3,525$3,063$2,833
14 years$4,870$4,215$3,636$3,129$2,685$2,466
15 years$4,498$3,850$3,283$2,790$2,364$2,156
16 years$4,173$3,533$2,977$2,498$2,089$1,891
17 years$3,887$3,253$2,709$2,245$1,853$1,665
18 years$3,633$3,006$2,473$2,023$1,647$1,469
19 years$3,406$2,786$2,264$1,828$1,468$1,299
20 years$3,202$2,589$2,077$1,656$1,312$1,151
21 years$3,017$2,412$1,911$1,503$1,174$1,022
22 years$2,850$2,251$1,761$1,366$1,052$909
23 years$2,697$2,105$1,626$1,244$944$809
24 years$2,557$1,973$1,504$1,135$849$721
25 years$2,429$1,851$1,393$1,036$764$644
26 years$2,310$1,740$1,292$948$688$575
27 years$2,201$1,637$1,200$867$620$514
28 years$2,100$1,543$1,115$795$560$460
29 years$2,005$1,456$1,038$729$505$411
30 years$1,918$1,375$967$669$457$369
31 years$1,836$1,299$901$614$413$330
32 years$1,759$1,230$841$564$373$296
33 years$1,687$1,164$785$519$338$266
34 years$1,619$1,104$734$478$306$238
35 years$1,556$1,047$686$440$277$214
36 years$1,496$994$642$405$251$192
37 years$1,440$944$600$373$228$172
38 years$1,386$897$562$344$206$155
39 years$1,336$853$527$317$187$139
40 years$1,288$811$494$292$170$125
41 years$1,242$772$463$270$154$112
42 years$1,199$736$434$249$140$101
43 years$1,158$701$408$230$127$91
44 years$1,119$668$383$212$115$82
45 years$1,082$637$359$196$104$73
46 years$1,047$608$337$181$95$66
47 years$1,013$580$317$167$86$59
48 years$980$554$298$155$78$53
49 years$949$529$280$143$71$48
50 years$920$505$263$132$65$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $942,000, adding $2,328 every year, while hoping to spend $24,922 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: 59/16/25 Blend
60$942,000$942,000$942,000$942,000
61$1,040,485$990,559$975,958$1,094,738
62$1,120,098$1,012,580$982,136$1,154,002
63$1,206,996$1,034,844$987,686$1,215,736
64$1,301,896$1,057,338$992,559$1,282,538
65$1,405,587$1,080,045$996,708$1,354,907
66$1,518,937$1,102,948$1,000,078$1,433,390
67$1,642,904$1,126,028$1,002,616$1,518,593
68$1,778,540$1,149,263$1,004,264$1,611,180
69$1,927,005$1,172,631$1,004,960$1,711,888
70$2,089,576$1,196,106$1,004,642$1,821,525
71$2,267,658$1,219,660$1,003,243$1,940,985
72$2,462,800$1,243,265$1,000,693$2,071,250
73$2,676,708$1,266,887$996,919$2,213,405
74$2,911,260$1,290,492$991,843$2,368,646
75$3,168,524$1,314,041$985,385$2,538,290
76$3,450,779$1,337,495$977,461$2,723,791
77$3,760,534$1,360,808$967,982$2,926,750
78$4,100,554$1,383,933$956,855$3,148,933
79$4,473,885$1,406,820$943,983$3,392,285
80$4,883,880$1,429,413$929,266$3,658,953
81$5,334,235$1,451,653$912,595$3,951,302
82$5,829,020$1,473,478$893,860$4,271,939
83$6,372,720$1,494,818$872,945$4,623,738
84$6,970,275$1,515,602$849,726$5,009,868
85$7,627,129$1,535,752$824,078$5,433,823
86$8,349,277$1,555,185$795,865$5,899,451
87$9,143,326$1,573,812$764,949$6,410,999
88$10,016,554$1,591,537$731,184$6,973,144
89$10,976,981$1,608,261$694,417$7,591,044
90$12,033,441$1,623,874$654,488$8,270,385
91$13,195,670$1,638,262$611,231$9,017,433
92$14,474,393$1,651,301$564,472$9,839,097
93$15,881,427$1,662,861$514,029$10,742,991
94$17,429,795$1,672,803$459,710$11,737,510
95$19,133,843$1,680,979$401,319$12,831,906
96$21,009,379$1,687,231$338,648$14,036,376
97$23,073,822$1,691,392$271,479$15,362,162
98$25,346,365$1,693,284$199,587$16,821,656
99$27,848,156$1,692,717$122,735$18,428,514
100$30,602,499$1,689,491$40,677$20,197,790