Can I retire at age 61 with 943,000?

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 $943,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$77,872$77,178$76,502$75,841$75,196$74,380
2 years$38,551$37,833$37,137$36,462$35,808$34,986
3 years$25,445$24,724$24,030$23,362$22,718$21,916
4 years$18,894$18,175$17,488$16,831$16,203$15,427
5 years$14,964$14,249$13,571$12,928$12,317$11,569
6 years$12,345$11,636$10,967$10,338$9,746$9,028
7 years$10,475$9,772$9,114$8,500$7,926$7,237
8 years$9,073$8,376$7,729$7,130$6,575$5,916
9 years$7,983$7,293$6,657$6,073$5,537$4,908
10 years$7,112$6,428$5,804$5,235$4,718$4,117
11 years$6,399$5,723$5,110$4,556$4,058$3,485
12 years$5,806$5,136$4,535$3,996$3,516$2,971
13 years$5,305$4,642$4,052$3,528$3,066$2,549
14 years$4,875$4,219$3,640$3,132$2,688$2,197
15 years$4,503$3,854$3,287$2,793$2,367$1,901
16 years$4,178$3,536$2,980$2,501$2,092$1,651
17 years$3,891$3,257$2,712$2,247$1,855$1,438
18 years$3,637$3,009$2,475$2,025$1,649$1,255
19 years$3,409$2,789$2,266$1,830$1,470$1,098
20 years$3,205$2,592$2,080$1,657$1,313$963
21 years$3,020$2,414$1,913$1,504$1,175$845
22 years$2,853$2,254$1,763$1,368$1,053$743
23 years$2,700$2,108$1,628$1,245$945$654
24 years$2,560$1,975$1,505$1,136$850$577
25 years$2,431$1,853$1,394$1,037$765$509
26 years$2,313$1,742$1,293$949$689$449
27 years$2,203$1,639$1,201$868$621$397
28 years$2,102$1,545$1,116$795$560$351
29 years$2,007$1,457$1,039$729$506$310
30 years$1,920$1,376$968$669$457$274
31 years$1,837$1,301$902$615$413$243
32 years$1,761$1,231$842$565$374$215
33 years$1,689$1,166$786$520$338$190
34 years$1,621$1,105$734$478$306$169
35 years$1,558$1,048$687$440$277$150
36 years$1,498$995$642$405$251$133
37 years$1,441$945$601$373$228$118
38 years$1,388$898$563$344$207$104
39 years$1,337$854$527$317$187$92
40 years$1,289$812$494$293$170$82
41 years$1,244$773$464$270$154$73
42 years$1,201$736$435$249$140$65
43 years$1,160$702$408$230$127$57
44 years$1,120$669$383$212$115$51
45 years$1,083$638$360$196$105$45
46 years$1,048$608$338$181$95$40
47 years$1,014$581$317$167$86$36
48 years$981$554$298$155$78$32
49 years$950$529$280$143$71$28
50 years$921$506$263$132$65$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $943,000, adding $3,283 every year, while hoping to spend $20,329 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: 54/30/16 Blend
60$943,000$943,000$943,000$943,000
61$1,042,572$992,593$977,977$1,094,247
62$1,127,285$1,019,601$989,109$1,156,877
63$1,219,957$1,047,250$999,933$1,222,567
64$1,321,378$1,075,551$1,010,417$1,293,613
65$1,432,420$1,104,514$1,020,527$1,370,533
66$1,554,040$1,134,148$1,030,228$1,453,893
67$1,687,294$1,164,464$1,039,482$1,544,318
68$1,833,344$1,195,469$1,048,251$1,642,497
69$1,993,471$1,227,172$1,056,493$1,749,187
70$2,169,084$1,259,583$1,064,165$1,865,222
71$2,361,736$1,292,708$1,071,220$1,991,523
72$2,573,138$1,326,556$1,077,611$2,129,100
73$2,805,175$1,361,133$1,083,287$2,279,070
74$3,059,920$1,396,446$1,088,195$2,442,661
75$3,339,661$1,432,501$1,092,278$2,621,225
76$3,646,916$1,469,303$1,095,479$2,816,254
77$3,984,459$1,506,857$1,097,735$3,029,389
78$4,355,347$1,545,165$1,098,982$3,262,440
79$4,762,945$1,584,232$1,099,152$3,517,401
80$5,210,965$1,624,059$1,098,173$3,796,467
81$5,703,492$1,664,646$1,095,970$4,102,058
82$6,245,029$1,705,994$1,092,465$4,436,840
83$6,840,535$1,748,101$1,087,576$4,803,752
84$7,495,476$1,790,964$1,081,216$5,206,030
85$8,215,873$1,834,580$1,073,296$5,647,241
86$9,008,360$1,878,943$1,063,719$6,131,316
87$9,880,247$1,924,045$1,052,388$6,662,586
88$10,839,586$1,969,877$1,039,197$7,245,823
89$11,895,252$2,016,430$1,024,038$7,886,287
90$13,057,022$2,063,689$1,006,798$8,589,773
91$14,335,669$2,111,640$987,356$9,362,667
92$15,743,063$2,160,266$965,588$10,212,008
93$17,292,283$2,209,547$941,364$11,145,551
94$18,997,742$2,259,461$914,545$12,171,843
95$20,875,320$2,309,983$884,991$13,300,302
96$22,942,515$2,361,084$852,550$14,541,308
97$25,218,607$2,412,733$817,066$15,906,298
98$27,724,844$2,464,896$778,377$17,407,879
99$30,484,636$2,517,534$736,310$19,059,941
100$33,523,780$2,570,604$690,688$20,877,794