Can I retire at age 61 with 945,000?

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 $945,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$78,037$77,342$76,664$76,002$75,356$74,507
2 years$38,632$37,913$37,215$36,539$35,884$35,029
3 years$25,499$24,776$24,081$23,411$22,766$21,932
4 years$18,934$18,213$17,525$16,866$16,237$15,430
5 years$14,996$14,279$13,600$12,955$12,343$11,566
6 years$12,371$11,660$10,991$10,360$9,767$9,020
7 years$10,497$9,792$9,133$8,518$7,943$7,227
8 years$9,092$8,394$7,746$7,145$6,589$5,905
9 years$8,000$7,308$6,671$6,086$5,549$4,895
10 years$7,127$6,442$5,816$5,246$4,728$4,104
11 years$6,413$5,735$5,121$4,566$4,066$3,472
12 years$5,818$5,147$4,544$4,005$3,524$2,958
13 years$5,316$4,652$4,060$3,536$3,073$2,536
14 years$4,885$4,228$3,648$3,139$2,694$2,184
15 years$4,513$3,863$3,294$2,799$2,372$1,889
16 years$4,187$3,544$2,986$2,506$2,096$1,639
17 years$3,900$3,264$2,717$2,252$1,859$1,427
18 years$3,645$3,016$2,481$2,029$1,653$1,245
19 years$3,417$2,795$2,271$1,834$1,473$1,088
20 years$3,212$2,597$2,084$1,661$1,316$953
21 years$3,027$2,419$1,917$1,507$1,177$836
22 years$2,859$2,258$1,767$1,370$1,055$735
23 years$2,705$2,112$1,631$1,248$947$646
24 years$2,565$1,979$1,509$1,138$852$569
25 years$2,436$1,857$1,397$1,040$766$502
26 years$2,318$1,745$1,296$951$690$442
27 years$2,208$1,643$1,203$870$622$390
28 years$2,106$1,548$1,119$797$561$345
29 years$2,012$1,460$1,041$731$507$305
30 years$1,924$1,379$970$671$458$269
31 years$1,841$1,304$904$616$414$238
32 years$1,764$1,233$843$566$375$211
33 years$1,692$1,168$788$521$339$187
34 years$1,625$1,107$736$479$307$165
35 years$1,561$1,050$688$441$278$146
36 years$1,501$997$644$406$252$130
37 years$1,444$947$602$374$228$115
38 years$1,391$900$564$345$207$102
39 years$1,340$855$529$318$188$90
40 years$1,292$814$495$293$170$80
41 years$1,246$775$464$271$154$71
42 years$1,203$738$436$250$140$63
43 years$1,162$703$409$231$127$56
44 years$1,123$670$384$213$115$49
45 years$1,085$639$360$197$105$44
46 years$1,050$610$338$182$95$39
47 years$1,016$582$318$168$86$34
48 years$983$555$299$155$78$31
49 years$952$530$281$143$71$27
50 years$923$507$264$132$65$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $945,000, adding $4,849 every year, while hoping to spend $30,847 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: 71/22/7 Blend
60$945,000$945,000$945,000$945,000
61$1,046,392$996,307$981,659$1,119,236
62$1,120,303$1,012,305$981,724$1,183,997
63$1,200,719$1,028,053$980,757$1,250,569
64$1,288,271$1,043,506$978,691$1,322,580
65$1,383,653$1,058,617$975,456$1,400,556
66$1,487,630$1,073,333$970,978$1,485,079
67$1,601,042$1,087,600$965,179$1,576,788
68$1,724,814$1,101,359$957,979$1,676,388
69$1,859,966$1,114,546$949,292$1,784,655
70$2,007,620$1,127,096$939,030$1,902,445
71$2,169,008$1,138,935$927,099$2,030,702
72$2,345,492$1,149,987$913,402$2,170,463
73$2,538,567$1,160,172$897,836$2,322,873
74$2,749,882$1,169,401$880,294$2,489,195
75$2,981,250$1,177,583$860,664$2,670,819
76$3,234,672$1,184,618$838,830$2,869,277
77$3,512,346$1,190,401$814,669$3,086,258
78$3,816,696$1,194,822$788,051$3,323,624
79$4,150,392$1,197,762$758,844$3,583,425
80$4,516,374$1,199,094$726,907$3,867,923
81$4,917,879$1,198,684$692,093$4,179,610
82$5,358,473$1,196,390$654,249$4,521,232
83$5,842,086$1,192,062$613,215$4,895,817
84$6,373,045$1,185,539$568,823$5,306,703
85$6,956,115$1,176,651$520,899$5,757,565
86$7,596,549$1,165,217$469,260$6,252,460
87$8,300,132$1,151,046$413,714$6,795,854
88$9,073,234$1,133,937$354,063$7,392,673
89$9,922,878$1,113,673$290,097$8,048,345
90$10,856,796$1,090,028$221,600$8,768,854
91$11,883,511$1,062,761$148,345$9,560,794
92$13,012,408$1,031,616$70,095$10,431,435
93$14,253,833$996,324$0$11,388,789
94$15,619,178$956,598$0$12,442,690
95$17,120,999$912,137$0$13,607,521
96$18,773,129$862,620$0$14,888,791
97$20,590,809$807,708$0$16,298,347
98$22,590,831$747,045$0$17,849,244
99$24,791,698$680,253$0$19,555,874
100$27,213,796$606,930$0$21,434,093