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%19.9%
1 years$77,955$77,260$76,583$75,922$75,276$72,289
2 years$38,591$37,873$37,176$36,501$35,846$32,874
3 years$25,472$24,750$24,055$23,386$22,742$19,878
4 years$18,914$18,194$17,506$16,849$16,220$13,486
5 years$14,980$14,264$13,586$12,941$12,330$9,733
6 years$12,358$11,648$10,979$10,349$9,756$7,298
7 years$10,486$9,782$9,124$8,509$7,934$5,614
8 years$9,082$8,385$7,738$7,138$6,582$4,398
9 years$7,992$7,301$6,664$6,080$5,543$3,491
10 years$7,119$6,435$5,810$5,241$4,723$2,799
11 years$6,406$5,729$5,115$4,561$4,062$2,261
12 years$5,812$5,142$4,540$4,001$3,520$1,838
13 years$5,310$4,647$4,056$3,532$3,070$1,501
14 years$4,880$4,224$3,644$3,135$2,691$1,231
15 years$4,508$3,858$3,290$2,796$2,369$1,012
16 years$4,182$3,540$2,983$2,504$2,094$834
17 years$3,895$3,260$2,714$2,250$1,857$689
18 years$3,641$3,013$2,478$2,027$1,651$570
19 years$3,413$2,792$2,268$1,832$1,471$472
20 years$3,208$2,595$2,082$1,659$1,314$392
21 years$3,023$2,417$1,915$1,506$1,176$325
22 years$2,856$2,256$1,765$1,369$1,054$270
23 years$2,703$2,110$1,630$1,247$946$225
24 years$2,562$1,977$1,507$1,137$851$187
25 years$2,434$1,855$1,396$1,039$765$156
26 years$2,315$1,744$1,295$950$689$130
27 years$2,206$1,641$1,202$869$622$108
28 years$2,104$1,546$1,118$796$561$90
29 years$2,010$1,459$1,040$730$506$75
30 years$1,922$1,378$969$670$458$62
31 years$1,839$1,302$903$616$414$52
32 years$1,763$1,232$843$566$374$43
33 years$1,691$1,167$787$520$339$36
34 years$1,623$1,106$735$479$307$30
35 years$1,559$1,049$687$441$278$25
36 years$1,499$996$643$406$252$21
37 years$1,443$946$602$374$228$17
38 years$1,389$899$564$345$207$15
39 years$1,339$855$528$318$188$12
40 years$1,291$813$495$293$170$10
41 years$1,245$774$464$270$154$8
42 years$1,202$737$435$250$140$7
43 years$1,161$702$408$230$127$6
44 years$1,122$669$383$213$115$5
45 years$1,084$638$360$196$105$4
46 years$1,049$609$338$181$95$3
47 years$1,015$581$318$168$86$3
48 years$982$555$298$155$78$2
49 years$951$530$281$143$71$2
50 years$922$506$264$132$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $944,000, adding $5,108 every year, while hoping to spend $36,806 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: 37/40/23 Blend
60$944,000$944,000$944,000$944,000
61$1,045,557$995,525$980,893$1,076,858
62$1,113,042$1,005,144$974,592$1,109,803
63$1,186,178$1,014,002$966,845$1,141,579
64$1,265,501$1,022,020$957,567$1,175,164
65$1,351,602$1,029,119$946,666$1,210,744
66$1,445,132$1,035,213$934,046$1,248,524
67$1,546,805$1,040,208$919,606$1,288,735
68$1,657,408$1,044,007$903,242$1,331,630
69$1,777,807$1,046,507$884,844$1,377,494
70$1,908,954$1,047,597$864,297$1,426,641
71$2,051,897$1,047,159$841,481$1,479,420
72$2,207,790$1,045,068$816,269$1,536,220
73$2,377,901$1,041,194$788,531$1,597,471
74$2,563,629$1,035,394$758,129$1,663,652
75$2,766,511$1,027,520$724,918$1,735,294
76$2,988,241$1,017,414$688,749$1,812,984
77$3,230,683$1,004,909$649,463$1,897,375
78$3,495,890$989,827$606,898$1,989,192
79$3,786,122$971,979$560,880$2,089,236
80$4,103,867$951,168$511,230$2,198,394
81$4,451,867$927,180$457,762$2,317,653
82$4,833,139$899,793$400,278$2,448,102
83$5,251,007$868,771$338,575$2,590,949
84$5,709,131$833,862$272,439$2,747,530
85$6,211,544$794,803$201,647$2,919,325
86$6,762,685$751,312$125,966$3,107,972
87$7,367,446$703,093$45,153$3,315,284
88$8,031,214$649,833$0$3,543,265
89$8,759,923$591,200$0$3,804,217
90$9,560,111$526,844$0$4,102,990
91$10,438,978$456,396$0$4,431,271
92$11,404,457$379,462$0$4,792,131
93$12,465,287$295,632$0$5,188,959
94$13,631,096$204,467$0$5,625,496
95$14,912,489$105,507$0$6,105,873
96$16,321,151$0$0$6,634,649
97$17,869,956$0$0$7,217,622
98$19,573,087$0$0$7,909,893
99$21,446,169$0$0$8,671,392
100$23,506,419$0$0$9,509,137