Can I retire at age 61 with 944,000?

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 $944,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$77,955$77,260$76,583$75,922$75,276$74,304
2 years$38,591$37,873$37,176$36,501$35,846$34,868
3 years$25,472$24,750$24,055$23,386$22,742$21,789
4 years$18,914$18,194$17,506$16,849$16,220$15,299
5 years$14,980$14,264$13,586$12,941$12,330$11,444
6 years$12,358$11,648$10,979$10,349$9,756$8,905
7 years$10,486$9,782$9,124$8,509$7,934$7,119
8 years$9,082$8,385$7,738$7,138$6,582$5,803
9 years$7,992$7,301$6,664$6,080$5,543$4,800
10 years$7,119$6,435$5,810$5,241$4,723$4,014
11 years$6,406$5,729$5,115$4,561$4,062$3,388
12 years$5,812$5,142$4,540$4,001$3,520$2,879
13 years$5,310$4,647$4,056$3,532$3,070$2,461
14 years$4,880$4,224$3,644$3,135$2,691$2,114
15 years$4,508$3,858$3,290$2,796$2,369$1,824
16 years$4,182$3,540$2,983$2,504$2,094$1,578
17 years$3,895$3,260$2,714$2,250$1,857$1,370
18 years$3,641$3,013$2,478$2,027$1,651$1,192
19 years$3,413$2,792$2,268$1,832$1,471$1,039
20 years$3,208$2,595$2,082$1,659$1,314$907
21 years$3,023$2,417$1,915$1,506$1,176$794
22 years$2,856$2,256$1,765$1,369$1,054$695
23 years$2,703$2,110$1,630$1,247$946$610
24 years$2,562$1,977$1,507$1,137$851$535
25 years$2,434$1,855$1,396$1,039$765$470
26 years$2,315$1,744$1,295$950$689$413
27 years$2,206$1,641$1,202$869$622$364
28 years$2,104$1,546$1,118$796$561$320
29 years$2,010$1,459$1,040$730$506$282
30 years$1,922$1,378$969$670$458$249
31 years$1,839$1,302$903$616$414$219
32 years$1,763$1,232$843$566$374$193
33 years$1,691$1,167$787$520$339$170
34 years$1,623$1,106$735$479$307$150
35 years$1,559$1,049$687$441$278$133
36 years$1,499$996$643$406$252$117
37 years$1,443$946$602$374$228$103
38 years$1,389$899$564$345$207$91
39 years$1,339$855$528$318$188$81
40 years$1,291$813$495$293$170$71
41 years$1,245$774$464$270$154$63
42 years$1,202$737$435$250$140$56
43 years$1,161$702$408$230$127$49
44 years$1,122$669$383$213$115$43
45 years$1,084$638$360$196$105$38
46 years$1,049$609$338$181$95$34
47 years$1,015$581$318$168$86$30
48 years$982$555$298$155$78$27
49 years$951$530$281$143$71$23
50 years$922$506$264$132$65$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $944,000, adding $5,275 every year, while hoping to spend $47,329 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: 67/24/9 Blend
60$944,000$944,000$944,000$944,000
61$1,045,729$995,697$981,065$1,113,582
62$1,102,036$994,129$963,573$1,157,771
63$1,162,500$990,897$943,909$1,199,903
64$1,227,494$985,871$921,950$1,244,719
65$1,297,431$978,910$897,567$1,292,476
66$1,372,760$969,868$870,627$1,343,457
67$1,453,977$958,587$840,988$1,397,975
68$1,541,625$944,901$808,504$1,456,376
69$1,636,303$928,633$773,021$1,519,044
70$1,738,668$909,598$734,379$1,586,400
71$1,849,440$887,596$692,409$1,658,914
72$1,969,414$862,420$646,936$1,737,102
73$2,099,463$833,847$597,777$1,821,536
74$2,240,545$801,642$544,739$1,912,847
75$2,393,717$765,559$487,624$2,011,734
76$2,560,137$725,333$426,221$2,118,968
77$2,741,084$680,687$360,312$2,235,401
78$2,937,962$631,328$289,670$2,361,976
79$3,152,316$576,944$214,055$2,499,734
80$3,385,846$517,209$133,220$2,649,824
81$3,640,424$451,774$46,905$2,813,517
82$3,918,110$380,273$0$2,992,217
83$4,221,170$302,319$0$3,191,814
84$4,552,099$217,503$0$3,414,769
85$4,913,645$125,393$0$3,658,492
86$5,308,832$25,532$0$3,925,101
87$5,740,989$0$0$4,216,933
88$6,213,781$0$0$4,558,370
89$6,731,245$0$0$4,939,505
90$7,297,825$0$0$5,356,875
91$7,918,417$0$0$5,814,094
92$8,598,409$0$0$6,315,139
93$9,343,739$0$0$6,864,394
94$10,160,944$0$0$7,466,683
95$11,057,224$0$0$8,127,323
96$12,040,510$0$0$8,852,167
97$13,119,538$0$0$9,647,665
98$14,303,931$0$0$10,520,921
99$15,604,286$0$0$11,479,758
100$17,032,281$0$0$12,532,795