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%14.2%
1 years$78,037$77,342$76,664$76,002$75,356$74,046
2 years$38,632$37,913$37,215$36,539$35,884$34,569
3 years$25,499$24,776$24,081$23,411$22,766$21,487
4 years$18,934$18,213$17,525$16,866$16,237$15,003
5 years$14,996$14,279$13,600$12,955$12,343$11,158
6 years$12,371$11,660$10,991$10,360$9,767$8,631
7 years$10,497$9,792$9,133$8,518$7,943$6,858
8 years$9,092$8,394$7,746$7,145$6,589$5,555
9 years$8,000$7,308$6,671$6,086$5,549$4,564
10 years$7,127$6,442$5,816$5,246$4,728$3,792
11 years$6,413$5,735$5,121$4,566$4,066$3,178
12 years$5,818$5,147$4,544$4,005$3,524$2,682
13 years$5,316$4,652$4,060$3,536$3,073$2,276
14 years$4,885$4,228$3,648$3,139$2,694$1,941
15 years$4,513$3,863$3,294$2,799$2,372$1,662
16 years$4,187$3,544$2,986$2,506$2,096$1,427
17 years$3,900$3,264$2,717$2,252$1,859$1,229
18 years$3,645$3,016$2,481$2,029$1,653$1,061
19 years$3,417$2,795$2,271$1,834$1,473$917
20 years$3,212$2,597$2,084$1,661$1,316$795
21 years$3,027$2,419$1,917$1,507$1,177$689
22 years$2,859$2,258$1,767$1,370$1,055$599
23 years$2,705$2,112$1,631$1,248$947$521
24 years$2,565$1,979$1,509$1,138$852$453
25 years$2,436$1,857$1,397$1,040$766$395
26 years$2,318$1,745$1,296$951$690$344
27 years$2,208$1,643$1,203$870$622$300
28 years$2,106$1,548$1,119$797$561$262
29 years$2,012$1,460$1,041$731$507$228
30 years$1,924$1,379$970$671$458$200
31 years$1,841$1,304$904$616$414$174
32 years$1,764$1,233$843$566$375$152
33 years$1,692$1,168$788$521$339$133
34 years$1,625$1,107$736$479$307$116
35 years$1,561$1,050$688$441$278$102
36 years$1,501$997$644$406$252$89
37 years$1,444$947$602$374$228$78
38 years$1,391$900$564$345$207$68
39 years$1,340$855$529$318$188$60
40 years$1,292$814$495$293$170$52
41 years$1,246$775$464$271$154$46
42 years$1,203$738$436$250$140$40
43 years$1,162$703$409$231$127$35
44 years$1,123$670$384$213$115$31
45 years$1,085$639$360$197$105$27
46 years$1,050$610$338$182$95$23
47 years$1,016$582$318$168$86$21
48 years$983$555$299$155$78$18
49 years$952$530$281$143$71$16
50 years$923$507$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 $945,000, adding $2,312 every year, while hoping to spend $48,818 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: 71/7/22 Blend
60$945,000$945,000$945,000$945,000
61$1,043,775$993,690$979,042$1,112,043
62$1,098,298$990,439$959,898$1,154,633
63$1,156,746$985,392$938,477$1,195,259
64$1,219,468$978,410$914,650$1,238,544
65$1,286,847$969,346$888,284$1,284,747
66$1,359,303$958,041$859,239$1,334,154
67$1,437,298$944,331$827,369$1,387,079
68$1,521,337$928,037$792,520$1,443,872
69$1,611,977$908,975$754,533$1,504,918
70$1,709,829$886,946$713,241$1,570,643
71$1,815,566$861,740$668,469$1,641,517
72$1,929,925$833,136$620,034$1,718,060
73$2,053,717$800,900$567,745$1,800,848
74$2,187,835$764,783$511,403$1,890,513
75$2,333,259$724,522$450,799$1,987,757
76$2,491,067$679,839$385,717$2,093,355
77$2,662,446$630,442$315,929$2,208,160
78$2,848,700$576,018$241,197$2,333,118
79$3,051,265$516,241$161,275$2,469,271
80$3,271,720$450,762$75,903$2,617,771
81$3,511,801$379,215$0$2,779,888
82$3,773,421$301,213$0$2,960,596
83$4,058,684$216,346$0$3,177,121
84$4,369,906$124,183$0$3,413,407
85$4,709,635$24,267$0$3,671,415
86$5,080,678$0$0$3,953,303
87$5,486,122$0$0$4,267,912
88$5,929,370$0$0$4,613,945
89$6,414,164$0$0$4,992,460
90$6,944,626$0$0$5,406,682
91$7,525,297$0$0$5,860,162
92$8,161,175$0$0$6,356,810
93$8,857,763$0$0$6,900,932
94$9,621,124$0$0$7,497,270
95$10,457,934$0$0$8,151,046
96$11,375,545$0$0$8,868,013
97$12,382,055$0$0$9,654,505
98$13,486,386$0$0$10,517,501
99$14,698,361$0$0$11,464,687
100$16,028,802$0$0$12,504,530