Can I retire at age 61 with 951,000?

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 $951,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$78,533$77,833$77,151$76,485$75,834$72,825
2 years$38,878$38,154$37,452$36,771$36,111$33,117
3 years$25,661$24,934$24,234$23,560$22,911$20,026
4 years$19,054$18,329$17,636$16,974$16,340$13,586
5 years$15,091$14,370$13,686$13,037$12,421$9,806
6 years$12,449$11,734$11,061$10,426$9,829$7,352
7 years$10,564$9,854$9,191$8,572$7,993$5,656
8 years$9,150$8,447$7,795$7,191$6,631$4,430
9 years$8,051$7,355$6,714$6,125$5,584$3,516
10 years$7,172$6,483$5,853$5,280$4,758$2,819
11 years$6,454$5,771$5,153$4,595$4,092$2,278
12 years$5,855$5,180$4,573$4,030$3,546$1,851
13 years$5,350$4,681$4,086$3,558$3,092$1,512
14 years$4,916$4,255$3,671$3,159$2,711$1,240
15 years$4,541$3,887$3,315$2,817$2,387$1,019
16 years$4,213$3,566$3,005$2,522$2,109$840
17 years$3,924$3,284$2,735$2,266$1,870$694
18 years$3,668$3,035$2,496$2,042$1,663$574
19 years$3,438$2,813$2,285$1,845$1,482$476
20 years$3,232$2,614$2,097$1,671$1,324$395
21 years$3,046$2,435$1,929$1,517$1,185$328
22 years$2,877$2,273$1,778$1,379$1,062$272
23 years$2,723$2,126$1,642$1,256$953$226
24 years$2,581$1,992$1,518$1,146$857$188
25 years$2,452$1,869$1,406$1,046$771$157
26 years$2,332$1,756$1,304$957$695$131
27 years$2,222$1,653$1,211$876$626$109
28 years$2,120$1,558$1,126$802$565$91
29 years$2,024$1,469$1,048$736$510$75
30 years$1,936$1,388$976$675$461$63
31 years$1,853$1,312$910$620$417$52
32 years$1,776$1,241$849$570$377$44
33 years$1,703$1,176$793$524$341$36
34 years$1,635$1,114$741$482$309$30
35 years$1,571$1,057$692$444$280$25
36 years$1,510$1,003$648$409$254$21
37 years$1,453$953$606$377$230$18
38 years$1,399$905$568$347$208$15
39 years$1,348$861$532$320$189$12
40 years$1,300$819$499$295$171$10
41 years$1,254$780$467$272$155$9
42 years$1,211$743$438$251$141$7
43 years$1,169$707$411$232$128$6
44 years$1,130$674$386$214$116$5
45 years$1,092$643$363$198$105$4
46 years$1,057$613$341$183$96$3
47 years$1,022$585$320$169$87$3
48 years$990$559$301$156$79$2
49 years$958$534$283$144$72$2
50 years$929$510$266$133$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $951,000, adding $4,191 every year, while hoping to spend $26,222 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: 57/33/10 Blend
60$951,000$951,000$951,000$951,000
61$1,052,325$1,001,922$987,182$1,109,532
62$1,131,762$1,023,116$992,352$1,169,804
63$1,218,423$1,044,470$996,817$1,232,160
64$1,313,017$1,065,964$1,000,525$1,299,473
65$1,416,324$1,087,575$1,003,422$1,372,217
66$1,529,204$1,109,282$1,005,452$1,450,921
67$1,652,603$1,131,056$1,006,554$1,536,161
68$1,787,562$1,152,872$1,006,668$1,628,578
69$1,935,229$1,174,698$1,005,726$1,728,874
70$2,096,865$1,196,501$1,003,661$1,837,823
71$2,273,862$1,218,247$1,000,401$1,956,280
72$2,467,752$1,239,896$995,869$2,085,186
73$2,680,219$1,261,408$989,988$2,225,577
74$2,913,122$1,282,737$982,673$2,378,596
75$3,168,506$1,303,837$973,838$2,545,503
76$3,448,623$1,324,655$963,392$2,727,685
77$3,755,956$1,345,136$951,239$2,926,673
78$4,093,238$1,365,222$937,279$3,144,152
79$4,463,478$1,384,848$921,408$3,381,981
80$4,869,995$1,403,947$903,517$3,642,208
81$5,316,440$1,422,446$883,490$3,927,091
82$5,806,838$1,440,267$861,209$4,239,119
83$6,345,623$1,457,328$836,546$4,581,035
84$6,937,678$1,473,538$809,372$4,955,863
85$7,588,383$1,488,804$779,549$5,366,935
86$8,303,668$1,503,025$746,933$5,817,925
87$9,090,061$1,516,092$711,374$6,312,882
88$9,954,758$1,527,892$672,716$6,856,270
89$10,905,686$1,538,301$630,795$7,453,010
90$11,951,578$1,547,190$585,438$8,108,523
91$13,102,057$1,554,420$536,468$8,828,790
92$14,367,724$1,559,844$483,697$9,620,397
93$15,760,261$1,563,305$426,930$10,490,610
94$17,292,538$1,564,637$365,963$11,447,433
95$18,978,736$1,563,664$300,582$12,499,692
96$20,834,481$1,560,197$230,565$13,657,113
97$22,876,989$1,554,038$155,680$14,930,418
98$25,125,230$1,544,975$75,684$16,331,426
99$27,600,109$1,532,783$0$17,873,162
100$30,324,656$1,517,225$0$19,571,018