Can I retire at age 61 with 948,000?

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 $948,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$78,285$77,588$76,907$76,243$75,595$74,558
2 years$38,755$38,033$37,334$36,655$35,998$34,954
3 years$25,580$24,855$24,157$23,485$22,838$21,822
4 years$18,994$18,271$17,580$16,920$16,288$15,306
5 years$15,043$14,325$13,643$12,996$12,382$11,437
6 years$12,410$11,697$11,026$10,393$9,798$8,891
7 years$10,530$9,823$9,162$8,545$7,968$7,100
8 years$9,121$8,420$7,770$7,168$6,610$5,781
9 years$8,025$7,331$6,693$6,106$5,567$4,775
10 years$7,149$6,462$5,835$5,263$4,743$3,989
11 years$6,433$5,753$5,137$4,580$4,079$3,362
12 years$5,837$5,164$4,559$4,018$3,535$2,854
13 years$5,333$4,666$4,073$3,547$3,083$2,437
14 years$4,901$4,242$3,660$3,149$2,702$2,090
15 years$4,527$3,875$3,304$2,808$2,379$1,800
16 years$4,200$3,555$2,996$2,514$2,103$1,556
17 years$3,912$3,274$2,726$2,259$1,864$1,348
18 years$3,656$3,025$2,488$2,036$1,658$1,171
19 years$3,427$2,804$2,278$1,840$1,478$1,020
20 years$3,222$2,606$2,091$1,666$1,320$889
21 years$3,036$2,427$1,923$1,512$1,181$777
22 years$2,868$2,265$1,772$1,375$1,059$679
23 years$2,714$2,119$1,636$1,252$950$595
24 years$2,573$1,985$1,513$1,142$854$521
25 years$2,444$1,863$1,402$1,043$769$457
26 years$2,325$1,751$1,300$954$692$401
27 years$2,215$1,648$1,207$873$624$353
28 years$2,113$1,553$1,122$800$563$310
29 years$2,018$1,465$1,044$733$509$273
30 years$1,930$1,383$973$673$460$240
31 years$1,847$1,308$907$618$415$211
32 years$1,770$1,237$846$568$376$186
33 years$1,698$1,172$790$522$340$164
34 years$1,630$1,111$738$481$308$144
35 years$1,566$1,053$690$442$279$127
36 years$1,506$1,000$646$407$253$112
37 years$1,449$950$604$375$229$99
38 years$1,395$902$566$346$208$87
39 years$1,344$858$530$319$188$77
40 years$1,296$816$497$294$171$68
41 years$1,250$777$466$272$155$60
42 years$1,207$740$437$251$141$53
43 years$1,166$705$410$231$128$46
44 years$1,126$672$385$214$116$41
45 years$1,089$641$362$197$105$36
46 years$1,053$612$340$182$95$32
47 years$1,019$584$319$168$87$28
48 years$987$557$300$156$79$25
49 years$955$532$282$144$72$22
50 years$926$508$265$133$65$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $948,000, adding $6,739 every year, while hoping to spend $33,516 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: 30/46/24 Blend
60$948,000$948,000$948,000$948,000
61$1,051,647$1,001,403$986,709$1,075,210
62$1,123,255$1,014,811$984,103$1,107,314
63$1,201,042$1,027,753$980,287$1,138,397
64$1,285,606$1,040,170$975,183$1,171,151
65$1,377,600$1,052,000$968,714$1,205,741
66$1,477,744$1,063,178$960,795$1,242,353
67$1,586,832$1,073,631$951,339$1,281,194
68$1,705,734$1,083,284$940,255$1,322,493
69$1,835,412$1,092,058$927,446$1,366,503
70$1,976,921$1,099,866$912,813$1,413,510
71$2,131,424$1,106,617$896,249$1,463,826
72$2,300,202$1,112,213$877,646$1,517,801
73$2,484,663$1,116,553$856,888$1,575,822
74$2,686,359$1,119,524$833,854$1,638,320
75$2,906,999$1,121,012$808,419$1,705,772
76$3,148,462$1,120,891$780,451$1,778,707
77$3,412,821$1,119,030$749,812$1,857,713
78$3,702,355$1,115,290$716,357$1,943,439
79$4,019,577$1,109,521$679,937$2,036,608
80$4,367,253$1,101,566$640,393$2,138,019
81$4,748,428$1,091,258$597,562$2,248,558
82$5,166,459$1,078,420$551,271$2,369,206
83$5,625,039$1,062,865$501,340$2,501,050
84$6,128,240$1,044,392$447,583$2,645,292
85$6,680,546$1,022,792$389,801$2,803,265
86$7,286,894$997,842$327,792$2,976,444
87$7,952,725$969,304$261,341$3,166,459
88$8,684,032$936,928$190,225$3,375,116
89$9,487,416$900,450$114,210$3,604,412
90$10,370,150$859,590$33,054$3,856,556
91$11,340,245$814,051$0$4,133,990
92$12,406,530$763,518$0$4,453,131
93$13,578,727$707,662$0$4,813,174
94$14,867,550$646,131$0$5,209,019
95$16,284,803$578,554$0$5,644,388
96$17,843,490$504,539$0$6,123,390
97$19,557,938$423,674$0$6,650,564
98$21,443,933$335,520$0$7,230,915
99$23,518,870$239,616$0$7,869,970
100$25,801,911$135,474$0$8,573,829