Can I retire at age 61 with 944,000?

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 $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%14.1%
1 years$77,955$77,260$76,583$75,922$75,276$73,998
2 years$38,591$37,873$37,176$36,501$35,846$34,563
3 years$25,472$24,750$24,055$23,386$22,742$21,493
4 years$18,914$18,194$17,506$16,849$16,220$15,015
5 years$14,980$14,264$13,586$12,941$12,330$11,173
6 years$12,358$11,648$10,979$10,349$9,756$8,648
7 years$10,486$9,782$9,124$8,509$7,934$6,875
8 years$9,082$8,385$7,738$7,138$6,582$5,572
9 years$7,992$7,301$6,664$6,080$5,543$4,581
10 years$7,119$6,435$5,810$5,241$4,723$3,808
11 years$6,406$5,729$5,115$4,561$4,062$3,193
12 years$5,812$5,142$4,540$4,001$3,520$2,697
13 years$5,310$4,647$4,056$3,532$3,070$2,290
14 years$4,880$4,224$3,644$3,135$2,691$1,954
15 years$4,508$3,858$3,290$2,796$2,369$1,674
16 years$4,182$3,540$2,983$2,504$2,094$1,439
17 years$3,895$3,260$2,714$2,250$1,857$1,240
18 years$3,641$3,013$2,478$2,027$1,651$1,071
19 years$3,413$2,792$2,268$1,832$1,471$927
20 years$3,208$2,595$2,082$1,659$1,314$803
21 years$3,023$2,417$1,915$1,506$1,176$698
22 years$2,856$2,256$1,765$1,369$1,054$606
23 years$2,703$2,110$1,630$1,247$946$528
24 years$2,562$1,977$1,507$1,137$851$460
25 years$2,434$1,855$1,396$1,039$765$401
26 years$2,315$1,744$1,295$950$689$349
27 years$2,206$1,641$1,202$869$622$305
28 years$2,104$1,546$1,118$796$561$266
29 years$2,010$1,459$1,040$730$506$233
30 years$1,922$1,378$969$670$458$203
31 years$1,839$1,302$903$616$414$178
32 years$1,763$1,232$843$566$374$155
33 years$1,691$1,167$787$520$339$136
34 years$1,623$1,106$735$479$307$119
35 years$1,559$1,049$687$441$278$104
36 years$1,499$996$643$406$252$91
37 years$1,443$946$602$374$228$80
38 years$1,389$899$564$345$207$70
39 years$1,339$855$528$318$188$61
40 years$1,291$813$495$293$170$54
41 years$1,245$774$464$270$154$47
42 years$1,202$737$435$250$140$41
43 years$1,161$702$408$230$127$36
44 years$1,122$669$383$213$115$32
45 years$1,084$638$360$196$105$28
46 years$1,049$609$338$181$95$24
47 years$1,015$581$318$168$86$21
48 years$982$555$298$155$78$19
49 years$951$530$281$143$71$16
50 years$922$506$264$132$65$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $944,000, adding $2,401 every year, while hoping to spend $52,890 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: 38/33/29 Blend
60$944,000$944,000$944,000$944,000
61$1,042,765$992,733$978,101$1,073,314
62$1,092,852$985,102$954,592$1,088,399
63$1,146,276$975,325$928,524$1,099,688
64$1,203,320$963,240$899,754$1,110,888
65$1,264,297$948,677$868,134$1,122,026
66$1,329,548$931,455$833,509$1,133,137
67$1,399,448$911,382$795,718$1,144,263
68$1,474,408$888,256$754,590$1,155,454
69$1,554,878$861,861$709,950$1,166,774
70$1,641,354$831,971$661,611$1,178,294
71$1,734,379$798,344$609,382$1,190,101
72$1,834,548$760,726$553,059$1,202,297
73$1,942,518$718,847$492,433$1,214,998
74$2,059,007$672,423$427,282$1,228,343
75$2,184,807$621,152$357,376$1,242,489
76$2,320,785$564,717$282,476$1,257,618
77$2,467,896$502,779$202,330$1,273,937
78$2,627,190$434,984$116,677$1,291,685
79$2,799,820$360,955$25,242$1,311,133
80$2,987,056$280,295$0$1,332,590
81$3,190,291$192,585$0$1,378,787
82$3,411,061$97,382$0$1,437,529
83$3,651,053$0$0$1,501,541
84$3,912,125$0$0$1,573,528
85$4,196,319$0$0$1,690,499
86$4,505,882$0$0$1,818,029
87$4,843,290$0$0$1,957,153
88$5,211,265$0$0$2,109,009
89$5,612,803$0$0$2,274,849
90$6,051,202$0$0$2,456,053
91$6,530,093$0$0$2,654,138
92$7,053,474$0$0$2,870,777
93$7,625,746$0$0$3,107,808
94$8,251,752$0$0$3,367,260
95$8,936,829$0$0$3,651,363
96$9,686,851$0$0$3,962,575
97$10,508,287$0$0$4,303,602
98$11,408,260$0$0$4,677,424
99$12,394,617$0$0$5,087,324
100$13,475,998$0$0$5,536,917