Can I retire at age 61 with 946,000?

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 $946,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$78,120$77,424$76,745$76,082$75,435$73,822
2 years$38,673$37,953$37,255$36,578$35,922$34,304
3 years$25,526$24,803$24,106$23,436$22,790$21,219
4 years$18,954$18,233$17,543$16,884$16,254$14,741
5 years$15,011$14,295$13,614$12,969$12,356$10,906
6 years$12,384$11,673$11,002$10,371$9,777$8,391
7 years$10,508$9,803$9,143$8,527$7,951$6,630
8 years$9,102$8,403$7,754$7,153$6,596$5,339
9 years$8,008$7,316$6,679$6,093$5,555$4,360
10 years$7,134$6,449$5,822$5,252$4,733$3,601
11 years$6,420$5,741$5,126$4,571$4,071$2,999
12 years$5,825$5,153$4,549$4,009$3,528$2,514
13 years$5,321$4,657$4,064$3,539$3,076$2,120
14 years$4,890$4,233$3,652$3,142$2,697$1,795
15 years$4,517$3,867$3,297$2,802$2,374$1,526
16 years$4,191$3,548$2,989$2,509$2,098$1,302
17 years$3,904$3,267$2,720$2,254$1,861$1,113
18 years$3,648$3,019$2,483$2,032$1,654$953
19 years$3,420$2,798$2,273$1,836$1,475$818
20 years$3,215$2,600$2,086$1,663$1,317$704
21 years$3,030$2,422$1,919$1,509$1,179$606
22 years$2,862$2,261$1,769$1,372$1,056$522
23 years$2,708$2,114$1,633$1,249$948$451
24 years$2,568$1,981$1,510$1,140$852$389
25 years$2,439$1,859$1,399$1,041$767$336
26 years$2,320$1,747$1,297$952$691$291
27 years$2,210$1,644$1,205$871$623$251
28 years$2,108$1,549$1,120$798$562$218
29 years$2,014$1,462$1,042$732$508$188
30 years$1,926$1,380$971$672$459$163
31 years$1,843$1,305$905$617$415$141
32 years$1,766$1,235$844$567$375$123
33 years$1,694$1,169$788$521$339$106
34 years$1,626$1,108$737$480$307$92
35 years$1,563$1,051$689$442$278$80
36 years$1,502$998$644$407$252$69
37 years$1,446$948$603$375$229$60
38 years$1,392$901$565$345$207$52
39 years$1,341$856$529$318$188$45
40 years$1,293$815$496$294$170$39
41 years$1,248$776$465$271$155$34
42 years$1,204$739$436$250$140$30
43 years$1,163$704$409$231$127$26
44 years$1,124$671$384$213$116$22
45 years$1,087$640$361$197$105$19
46 years$1,051$610$339$182$95$17
47 years$1,017$582$318$168$87$15
48 years$984$556$299$155$79$13
49 years$953$531$281$143$71$11
50 years$924$507$264$133$65$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $946,000, adding $3,602 every year, while hoping to spend $48,287 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: 50/45/5 Blend
60$946,000$946,000$946,000$946,000
61$1,046,207$996,069$981,406$1,097,091
62$1,101,544$993,500$962,907$1,129,529
63$1,160,906$989,186$942,169$1,159,251
64$1,224,653$982,991$919,067$1,190,383
65$1,293,181$974,771$893,469$1,223,067
66$1,366,923$964,372$865,237$1,257,464
67$1,446,354$951,632$834,227$1,293,751
68$1,531,997$936,377$800,289$1,332,127
69$1,624,427$918,425$763,265$1,372,814
70$1,724,274$897,583$722,989$1,416,059
71$1,832,230$873,645$679,290$1,462,141
72$1,949,059$846,395$631,988$1,511,366
73$2,075,598$815,603$580,894$1,564,078
74$2,212,767$781,026$525,812$1,620,660
75$2,361,580$742,407$466,537$1,681,538
76$2,523,149$699,473$402,854$1,747,185
77$2,698,700$651,937$334,540$1,818,131
78$2,889,581$599,495$261,360$1,894,962
79$3,097,272$541,824$183,070$1,978,330
80$3,323,407$478,587$99,416$2,068,961
81$3,569,779$409,422$10,130$2,167,660
82$3,838,363$333,950$0$2,275,323
83$4,131,334$251,772$0$2,397,485
84$4,451,084$162,462$0$2,531,580
85$4,800,246$65,575$0$2,678,307
86$5,181,720$0$0$2,839,039
87$5,598,698$0$0$3,034,793
88$6,054,694$0$0$3,284,469
89$6,553,576$0$0$3,557,726
90$7,099,605$0$0$3,856,909
91$7,697,473$0$0$4,184,602
92$8,352,345$0$0$4,543,650
93$9,069,910$0$0$4,937,186
94$9,856,434$0$0$5,368,661
95$10,718,817$0$0$5,841,874
96$11,664,660$0$0$6,361,011
97$12,702,334$0$0$6,930,683
98$13,841,058$0$0$7,555,969
99$15,090,990$0$0$8,242,462
100$16,463,315$0$0$8,996,324