Can I retire at age 61 with 949,000?

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 $949,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$78,368$77,669$76,988$76,324$75,675$75,041
2 years$38,796$38,073$37,373$36,694$36,036$35,396
3 years$25,607$24,881$24,183$23,510$22,862$22,238
4 years$19,014$18,290$17,599$16,938$16,306$15,701
5 years$15,059$14,340$13,657$13,010$12,395$11,812
6 years$12,423$11,710$11,037$10,404$9,808$9,247
7 years$10,541$9,834$9,172$8,554$7,977$7,438
8 years$9,131$8,429$7,779$7,176$6,617$6,101
9 years$8,034$7,339$6,700$6,112$5,573$5,079
10 years$7,157$6,469$5,841$5,269$4,748$4,276
11 years$6,440$5,759$5,142$4,585$4,084$3,633
12 years$5,843$5,169$4,564$4,022$3,539$3,109
13 years$5,338$4,671$4,077$3,551$3,086$2,677
14 years$4,906$4,246$3,663$3,152$2,705$2,317
15 years$4,532$3,879$3,308$2,811$2,382$2,013
16 years$4,204$3,559$2,999$2,517$2,105$1,755
17 years$3,916$3,278$2,729$2,261$1,866$1,535
18 years$3,660$3,029$2,491$2,038$1,660$1,346
19 years$3,431$2,807$2,280$1,842$1,479$1,183
20 years$3,225$2,608$2,093$1,668$1,321$1,041
21 years$3,039$2,430$1,925$1,514$1,182$919
22 years$2,871$2,268$1,774$1,376$1,060$811
23 years$2,717$2,121$1,638$1,253$951$717
24 years$2,576$1,987$1,515$1,143$855$635
25 years$2,447$1,865$1,403$1,044$769$563
26 years$2,327$1,753$1,301$955$693$499
27 years$2,217$1,650$1,209$874$625$443
28 years$2,115$1,554$1,123$801$564$394
29 years$2,020$1,466$1,045$734$509$350
30 years$1,932$1,385$974$674$460$311
31 years$1,849$1,309$908$619$416$277
32 years$1,772$1,239$847$569$376$246
33 years$1,700$1,173$791$523$340$219
34 years$1,632$1,112$739$481$308$195
35 years$1,568$1,055$691$443$279$174
36 years$1,507$1,001$646$408$253$155
37 years$1,450$951$605$376$229$138
38 years$1,397$903$566$346$208$123
39 years$1,346$859$531$319$189$110
40 years$1,297$817$497$295$171$98
41 years$1,252$778$466$272$155$87
42 years$1,208$741$438$251$141$78
43 years$1,167$706$411$232$128$69
44 years$1,128$673$385$214$116$62
45 years$1,090$642$362$197$105$55
46 years$1,054$612$340$182$96$49
47 years$1,020$584$319$169$87$44
48 years$988$558$300$156$79$39
49 years$956$533$282$144$72$35
50 years$927$509$265$133$65$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $949,000, adding $5,462 every year, while hoping to spend $31,347 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: 49/37/14 Blend
60$949,000$949,000$949,000$949,000
61$1,051,432$1,001,135$986,426$1,098,639
62$1,125,325$1,016,838$986,118$1,147,428
63$1,205,705$1,032,259$984,749$1,196,695
64$1,293,199$1,047,353$982,251$1,249,516
65$1,388,501$1,062,068$978,551$1,306,234
66$1,492,369$1,076,351$973,575$1,367,229
67$1,605,643$1,090,144$967,242$1,432,919
68$1,729,245$1,103,387$959,470$1,503,766
69$1,864,188$1,116,013$950,172$1,580,279
70$2,011,589$1,127,952$939,258$1,663,023
71$2,172,680$1,139,130$926,631$1,752,618
72$2,348,813$1,149,467$912,192$1,849,751
73$2,541,478$1,158,878$895,838$1,955,177
74$2,752,318$1,167,272$877,457$2,069,732
75$2,983,139$1,174,552$856,937$2,194,338
76$3,235,931$1,180,618$834,156$2,330,014
77$3,512,887$1,185,359$808,991$2,477,881
78$3,816,419$1,188,659$781,309$2,639,180
79$4,149,185$1,190,395$750,975$2,815,277
80$4,514,114$1,190,436$717,845$3,007,683
81$4,914,429$1,188,643$681,768$3,218,063
82$5,353,683$1,184,868$642,589$3,448,256
83$5,835,787$1,178,955$600,144$3,700,288
84$6,365,050$1,170,737$554,262$3,976,398
85$6,946,219$1,160,037$504,764$4,279,054
86$7,584,524$1,146,670$451,464$4,610,982
87$8,285,725$1,130,435$394,167$4,975,186
88$9,056,166$1,111,124$332,670$5,374,982
89$9,902,840$1,088,514$266,759$5,814,027
90$10,833,447$1,062,368$196,212$6,296,358
91$11,856,472$1,032,438$120,799$6,826,425
92$12,981,263$998,458$40,277$7,409,138
93$14,218,119$960,150$0$8,049,914
94$15,578,386$917,216$0$8,761,547
95$17,074,566$869,345$0$9,550,670
96$18,720,433$816,204$0$10,418,570
97$20,531,162$757,443$0$11,373,304
98$22,523,475$692,693$0$12,423,758
99$24,715,796$621,560$0$13,579,728
100$27,128,423$543,633$0$14,852,014