Can I retire at age 61 with 950,000?

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 $950,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$78,450$77,751$77,070$76,404$75,754$73,037
2 years$38,837$38,113$37,412$36,733$36,073$33,366
3 years$25,634$24,908$24,208$23,535$22,887$20,273
4 years$19,034$18,310$17,617$16,956$16,323$13,823
5 years$15,075$14,355$13,672$13,024$12,408$10,030
6 years$12,436$11,722$11,049$10,415$9,818$7,562
7 years$10,552$9,844$9,182$8,563$7,985$5,850
8 years$9,140$8,438$7,787$7,183$6,624$4,610
9 years$8,042$7,347$6,707$6,118$5,579$3,682
10 years$7,165$6,476$5,847$5,274$4,753$2,971
11 years$6,447$5,765$5,148$4,590$4,088$2,416
12 years$5,849$5,175$4,568$4,026$3,543$1,977
13 years$5,344$4,676$4,082$3,554$3,089$1,626
14 years$4,911$4,251$3,667$3,155$2,708$1,342
15 years$4,536$3,883$3,311$2,814$2,384$1,112
16 years$4,209$3,563$3,002$2,520$2,107$923
17 years$3,920$3,281$2,732$2,264$1,868$768
18 years$3,664$3,032$2,494$2,040$1,661$640
19 years$3,435$2,810$2,283$1,843$1,481$535
20 years$3,229$2,611$2,095$1,670$1,323$447
21 years$3,043$2,432$1,927$1,515$1,184$374
22 years$2,874$2,270$1,776$1,378$1,061$313
23 years$2,720$2,123$1,640$1,255$952$262
24 years$2,579$1,989$1,517$1,144$856$220
25 years$2,449$1,867$1,405$1,045$770$185
26 years$2,330$1,755$1,303$956$694$155
27 years$2,220$1,651$1,210$875$626$130
28 years$2,117$1,556$1,125$801$564$109
29 years$2,022$1,468$1,047$735$510$92
30 years$1,934$1,386$975$674$461$77
31 years$1,851$1,311$909$619$416$65
32 years$1,774$1,240$848$569$377$54
33 years$1,701$1,174$792$523$341$46
34 years$1,633$1,113$740$482$309$38
35 years$1,569$1,056$692$443$280$32
36 years$1,509$1,002$647$408$253$27
37 years$1,452$952$606$376$230$23
38 years$1,398$904$567$347$208$19
39 years$1,347$860$531$320$189$16
40 years$1,299$818$498$295$171$14
41 years$1,253$779$467$272$155$11
42 years$1,209$742$438$251$141$10
43 years$1,168$707$411$232$128$8
44 years$1,129$674$386$214$116$7
45 years$1,091$642$362$198$105$6
46 years$1,055$613$340$183$96$5
47 years$1,021$585$320$169$87$4
48 years$989$558$300$156$79$3
49 years$957$533$282$144$72$3
50 years$928$509$265$133$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $950,000, adding $2,847 every year, while hoping to spend $46,378 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: 35/35/30 Blend
60$950,000$950,000$950,000$950,000
61$1,049,837$999,487$984,762$1,077,024
62$1,107,574$999,116$968,405$1,097,375
63$1,169,647$997,172$949,947$1,114,977
64$1,236,447$993,530$929,266$1,133,094
65$1,308,407$988,056$906,239$1,151,803
66$1,386,001$980,607$880,735$1,171,196
67$1,469,750$971,033$852,616$1,191,376
68$1,560,226$959,176$821,741$1,212,460
69$1,658,059$944,865$787,959$1,234,584
70$1,763,939$927,922$751,113$1,257,898
71$1,878,627$908,156$711,042$1,282,578
72$2,002,958$885,367$667,573$1,308,817
73$2,137,852$859,341$620,528$1,336,837
74$2,284,318$829,854$569,721$1,366,888
75$2,443,468$796,667$514,957$1,399,249
76$2,616,526$759,527$456,032$1,434,238
77$2,804,835$718,168$392,733$1,472,210
78$3,009,878$672,308$324,838$1,513,562
79$3,233,281$621,647$252,116$1,558,741
80$3,476,838$565,870$174,325$1,608,249
81$3,742,521$504,643$91,210$1,662,645
82$4,032,502$437,615$2,510$1,722,556
83$4,349,171$364,411$0$1,788,681
84$4,695,159$284,640$0$1,891,300
85$5,073,362$197,884$0$2,004,560
86$5,486,970$103,705$0$2,128,727
87$5,939,493$1,639$0$2,264,983
88$6,434,799$0$0$2,414,639
89$6,977,145$0$0$2,621,052
90$7,571,219$0$0$2,847,980
91$8,222,184$0$0$3,096,782
92$8,935,726$0$0$3,369,648
93$9,718,109$0$0$3,668,992
94$10,576,229$0$0$3,997,472
95$11,517,684$0$0$4,358,015
96$12,550,841$0$0$4,753,846
97$13,684,919$0$0$5,188,519
98$14,930,071$0$0$5,665,947
99$16,297,480$0$0$6,190,441
100$17,799,469$0$0$6,766,749