Can I retire at age 61 with 947,000?

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 $947,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$78,202$77,506$76,826$76,163$75,515$74,758
2 years$38,714$37,993$37,294$36,617$35,960$35,197
3 years$25,553$24,829$24,132$23,461$22,814$22,069
4 years$18,974$18,252$17,562$16,902$16,271$15,550
5 years$15,027$14,310$13,629$12,982$12,369$11,674
6 years$12,397$11,685$11,014$10,382$9,787$9,119
7 years$10,519$9,813$9,153$8,536$7,960$7,319
8 years$9,111$8,412$7,762$7,160$6,603$5,990
9 years$8,017$7,324$6,686$6,099$5,561$4,974
10 years$7,142$6,456$5,829$5,257$4,738$4,178
11 years$6,427$5,747$5,131$4,576$4,075$3,541
12 years$5,831$5,158$4,554$4,013$3,531$3,023
13 years$5,327$4,661$4,069$3,543$3,079$2,596
14 years$4,896$4,237$3,656$3,145$2,699$2,241
15 years$4,522$3,871$3,301$2,805$2,377$1,942
16 years$4,196$3,551$2,993$2,512$2,101$1,688
17 years$3,908$3,271$2,723$2,257$1,863$1,473
18 years$3,652$3,022$2,486$2,034$1,656$1,288
19 years$3,424$2,801$2,276$1,838$1,476$1,128
20 years$3,219$2,603$2,088$1,664$1,318$990
21 years$3,033$2,424$1,921$1,510$1,180$871
22 years$2,865$2,263$1,771$1,373$1,058$767
23 years$2,711$2,117$1,635$1,251$949$676
24 years$2,571$1,983$1,512$1,141$853$597
25 years$2,442$1,861$1,400$1,042$768$527
26 years$2,323$1,749$1,299$953$692$466
27 years$2,213$1,646$1,206$872$624$412
28 years$2,111$1,551$1,121$799$563$365
29 years$2,016$1,463$1,043$733$508$323
30 years$1,928$1,382$972$672$459$287
31 years$1,845$1,306$906$617$415$254
32 years$1,768$1,236$845$567$375$225
33 years$1,696$1,171$789$522$340$200
34 years$1,628$1,109$737$480$308$178
35 years$1,564$1,052$689$442$279$158
36 years$1,504$999$645$407$252$140
37 years$1,447$949$604$375$229$124
38 years$1,394$902$565$346$207$110
39 years$1,343$857$530$319$188$98
40 years$1,295$816$496$294$171$87
41 years$1,249$776$465$271$155$77
42 years$1,206$739$437$250$140$69
43 years$1,164$705$410$231$127$61
44 years$1,125$672$385$213$116$54
45 years$1,088$640$361$197$105$48
46 years$1,052$611$339$182$95$43
47 years$1,018$583$319$168$87$38
48 years$985$557$299$155$79$34
49 years$954$531$281$144$71$30
50 years$925$508$265$133$65$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $947,000, adding $4,633 every year, while hoping to spend $54,838 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: 38/38/24 Blend
60$947,000$947,000$947,000$947,000
61$1,048,373$998,182$983,503$1,080,547
62$1,096,960$988,746$958,104$1,094,962
63$1,148,665$977,009$930,015$1,105,088
64$1,203,747$962,802$899,089$1,114,945
65$1,262,493$945,942$865,172$1,124,540
66$1,325,214$926,240$828,102$1,133,888
67$1,392,251$903,491$787,709$1,143,009
68$1,463,980$877,482$743,817$1,151,932
69$1,540,812$847,984$696,240$1,160,692
70$1,623,196$814,757$644,786$1,169,333
71$1,711,629$777,547$589,253$1,177,912
72$1,806,652$736,083$529,430$1,186,496
73$1,908,861$690,082$465,096$1,195,166
74$2,018,910$639,241$396,022$1,204,020
75$2,137,517$583,243$321,968$1,213,172
76$2,265,472$521,750$242,682$1,222,756
77$2,403,641$454,406$157,902$1,232,928
78$2,552,977$380,836$67,356$1,243,870
79$2,714,526$300,643$0$1,255,791
80$2,889,439$213,405$0$1,276,428
81$3,078,981$118,682$0$1,317,455
82$3,284,544$16,003$0$1,362,002
83$3,507,656$0$0$1,410,511
84$3,750,000$0$0$1,503,254
85$4,013,428$0$0$1,611,453
86$4,299,974$0$0$1,729,267
87$4,611,878$0$0$1,857,631
88$4,951,607$0$0$1,997,576
89$5,321,871$0$0$2,150,236
90$5,725,656$0$0$2,316,856
91$6,166,246$0$0$2,498,812
92$6,647,260$0$0$2,697,616
93$7,172,676$0$0$2,914,930
94$7,746,878$0$0$3,152,589
95$8,374,690$0$0$3,412,609
96$9,061,424$0$0$3,697,213
97$9,812,929$0$0$4,008,847
98$10,635,646$0$0$4,350,205
99$11,536,667$0$0$4,724,254
100$12,523,801$0$0$5,134,261