Can I retire at age 61 with 945,000?

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 $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%16.6%
1 years$78,037$77,342$76,664$76,002$75,356$73,326
2 years$38,632$37,913$37,215$36,539$35,884$33,853
3 years$25,499$24,776$24,081$23,411$22,766$20,798
4 years$18,934$18,213$17,525$16,866$16,237$14,347
5 years$14,996$14,279$13,600$12,955$12,343$10,537
6 years$12,371$11,660$10,991$10,360$9,767$8,045
7 years$10,497$9,792$9,133$8,518$7,943$6,306
8 years$9,092$8,394$7,746$7,145$6,589$5,037
9 years$8,000$7,308$6,671$6,086$5,549$4,080
10 years$7,127$6,442$5,816$5,246$4,728$3,339
11 years$6,413$5,735$5,121$4,566$4,066$2,756
12 years$5,818$5,147$4,544$4,005$3,524$2,290
13 years$5,316$4,652$4,060$3,536$3,073$1,913
14 years$4,885$4,228$3,648$3,139$2,694$1,605
15 years$4,513$3,863$3,294$2,799$2,372$1,351
16 years$4,187$3,544$2,986$2,506$2,096$1,140
17 years$3,900$3,264$2,717$2,252$1,859$965
18 years$3,645$3,016$2,481$2,029$1,653$819
19 years$3,417$2,795$2,271$1,834$1,473$695
20 years$3,212$2,597$2,084$1,661$1,316$592
21 years$3,027$2,419$1,917$1,507$1,177$504
22 years$2,859$2,258$1,767$1,370$1,055$430
23 years$2,705$2,112$1,631$1,248$947$367
24 years$2,565$1,979$1,509$1,138$852$313
25 years$2,436$1,857$1,397$1,040$766$268
26 years$2,318$1,745$1,296$951$690$229
27 years$2,208$1,643$1,203$870$622$196
28 years$2,106$1,548$1,119$797$561$167
29 years$2,012$1,460$1,041$731$507$143
30 years$1,924$1,379$970$671$458$123
31 years$1,841$1,304$904$616$414$105
32 years$1,764$1,233$843$566$375$90
33 years$1,692$1,168$788$521$339$77
34 years$1,625$1,107$736$479$307$66
35 years$1,561$1,050$688$441$278$57
36 years$1,501$997$644$406$252$49
37 years$1,444$947$602$374$228$42
38 years$1,391$900$564$345$207$36
39 years$1,340$855$529$318$188$31
40 years$1,292$814$495$293$170$26
41 years$1,246$775$464$271$154$22
42 years$1,203$738$436$250$140$19
43 years$1,162$703$409$231$127$17
44 years$1,123$670$384$213$115$14
45 years$1,085$639$360$197$105$12
46 years$1,050$610$338$182$95$10
47 years$1,016$582$318$168$86$9
48 years$983$555$299$155$78$8
49 years$952$530$281$143$71$7
50 years$923$507$264$132$65$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $945,000, adding $6,896 every year, while hoping to spend $26,148 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: 44/41/15 Blend
60$945,000$945,000$945,000$945,000
61$1,048,503$998,418$983,771$1,089,819
62$1,127,629$1,019,519$988,906$1,140,502
63$1,213,950$1,040,778$993,336$1,192,249
64$1,308,171$1,062,175$997,012$1,247,770
65$1,411,070$1,083,687$999,877$1,307,426
66$1,523,504$1,105,292$1,001,877$1,371,612
67$1,646,413$1,126,963$1,002,952$1,440,765
68$1,780,836$1,148,673$1,003,040$1,515,366
69$1,927,914$1,170,391$1,002,075$1,595,947
70$2,088,906$1,192,085$999,988$1,683,091
71$2,265,195$1,213,718$996,709$1,777,445
72$2,458,307$1,235,252$992,161$1,879,719
73$2,669,922$1,256,647$986,266$1,990,698
74$2,901,889$1,277,857$978,941$2,111,247
75$3,156,245$1,298,836$970,098$2,242,320
76$3,435,233$1,319,530$959,648$2,384,968
77$3,741,326$1,339,886$947,495$2,540,352
78$4,077,245$1,359,844$933,540$2,709,750
79$4,445,987$1,379,340$917,677$2,894,573
80$4,850,857$1,398,307$899,799$3,096,376
81$5,295,492$1,416,671$879,789$3,316,874
82$5,783,900$1,434,356$857,530$3,557,959
83$6,320,496$1,451,278$832,895$3,821,717
84$6,910,144$1,467,348$805,755$4,110,447
85$7,558,202$1,482,471$775,971$4,426,686
86$8,270,574$1,496,547$743,401$4,773,231
87$9,053,762$1,509,468$707,895$5,153,165
88$9,914,933$1,521,119$669,297$5,569,890
89$10,861,981$1,531,378$627,442$6,027,156
90$11,903,602$1,540,116$582,161$6,529,097
91$13,049,381$1,547,193$533,275$7,080,274
92$14,309,875$1,552,462$480,597$7,685,713
93$15,696,717$1,555,767$423,932$8,350,957
94$17,222,725$1,556,943$363,076$9,082,120
95$18,902,022$1,555,812$297,818$9,885,940
96$20,750,168$1,552,186$227,934$10,769,846
97$22,784,309$1,545,867$153,194$11,742,033
98$25,023,338$1,536,644$73,356$12,811,531
99$27,488,071$1,524,292$0$13,988,299
100$30,201,446$1,508,574$0$15,285,212