Can I retire at age 61 with 953,000?

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 $953,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$78,698$77,997$77,313$76,645$75,994$74,398
2 years$38,959$38,234$37,531$36,849$36,187$34,588
3 years$25,715$24,986$24,285$23,609$22,959$21,405
4 years$19,094$18,367$17,673$17,009$16,374$14,878
5 years$15,122$14,400$13,715$13,065$12,448$11,013
6 years$12,476$11,759$11,084$10,448$9,849$8,478
7 years$10,586$9,875$9,211$8,590$8,010$6,702
8 years$9,169$8,465$7,811$7,206$6,645$5,400
9 years$8,068$7,370$6,728$6,138$5,596$4,413
10 years$7,187$6,496$5,866$5,291$4,768$3,646
11 years$6,467$5,783$5,164$4,605$4,101$3,039
12 years$5,868$5,191$4,583$4,039$3,554$2,550
13 years$5,361$4,691$4,095$3,566$3,099$2,151
14 years$4,927$4,264$3,679$3,165$2,716$1,823
15 years$4,551$3,895$3,322$2,823$2,392$1,551
16 years$4,222$3,574$3,012$2,528$2,114$1,323
17 years$3,933$3,291$2,740$2,271$1,874$1,132
18 years$3,675$3,041$2,502$2,047$1,667$971
19 years$3,446$2,819$2,290$1,849$1,485$834
20 years$3,239$2,619$2,102$1,675$1,327$718
21 years$3,052$2,440$1,933$1,520$1,187$618
22 years$2,883$2,277$1,782$1,382$1,064$533
23 years$2,728$2,130$1,645$1,259$955$461
24 years$2,587$1,996$1,521$1,148$859$398
25 years$2,457$1,873$1,409$1,048$773$344
26 years$2,337$1,760$1,307$959$696$298
27 years$2,227$1,657$1,214$877$628$258
28 years$2,124$1,561$1,128$804$566$223
29 years$2,029$1,473$1,050$737$511$194
30 years$1,940$1,391$978$677$462$168
31 years$1,857$1,315$912$621$418$145
32 years$1,779$1,244$851$571$378$126
33 years$1,707$1,178$794$525$342$109
34 years$1,638$1,117$742$483$310$95
35 years$1,574$1,059$694$445$280$82
36 years$1,514$1,005$649$410$254$72
37 years$1,456$955$607$377$230$62
38 years$1,402$907$569$348$209$54
39 years$1,351$863$533$321$189$47
40 years$1,303$821$500$296$172$41
41 years$1,257$781$468$273$156$35
42 years$1,213$744$439$252$141$31
43 years$1,172$709$412$233$128$27
44 years$1,132$676$387$215$116$23
45 years$1,095$644$363$198$106$20
46 years$1,059$615$341$183$96$17
47 years$1,024$587$321$169$87$15
48 years$992$560$301$156$79$13
49 years$960$535$283$145$72$11
50 years$930$511$266$134$65$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $953,000, adding $2,528 every year, while hoping to spend $56,084 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: 73/7/20 Blend
60$953,000$953,000$953,000$953,000
61$1,052,814$1,002,305$987,533$1,124,448
62$1,100,528$991,745$960,943$1,161,829
63$1,151,229$978,787$931,581$1,195,755
64$1,205,163$963,257$899,298$1,231,493
65$1,262,598$944,965$863,933$1,269,213
66$1,323,828$923,713$825,320$1,309,103
67$1,389,176$899,293$783,286$1,351,371
68$1,458,995$871,481$737,648$1,396,248
69$1,533,670$840,042$688,218$1,443,987
70$1,613,628$804,727$634,796$1,494,872
71$1,699,332$765,272$577,176$1,549,214
72$1,791,293$721,399$515,140$1,607,358
73$1,890,070$672,814$448,463$1,669,688
74$1,996,279$619,203$376,909$1,736,626
75$2,110,594$560,239$300,230$1,808,639
76$2,233,756$495,572$218,169$1,886,245
77$2,366,579$424,835$130,457$1,970,017
78$2,509,957$347,639$36,814$2,060,588
79$2,664,872$263,572$0$2,158,656
80$2,832,404$172,202$0$2,278,466
81$3,013,738$73,069$0$2,416,662
82$3,210,181$0$0$2,566,394
83$3,423,165$0$0$2,731,419
84$3,654,269$0$0$2,916,628
85$3,905,226$0$0$3,117,785
86$4,177,944$0$0$3,336,427
87$4,474,524$0$0$3,574,239
88$4,797,272$0$0$3,833,079
89$5,148,732$0$0$4,114,991
90$5,531,697$0$0$4,422,222
91$5,949,245$0$0$4,757,247
92$6,404,763$0$0$5,122,789
93$6,901,977$0$0$5,521,846
94$7,444,991$0$0$5,957,718
95$8,038,321$0$0$6,434,037
96$8,686,940$0$0$6,954,802
97$9,396,323$0$0$7,524,417
98$10,172,497$0$0$8,147,729
99$11,022,099$0$0$8,830,078
100$11,952,440$0$0$9,577,342