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%19.3%
1 years$78,698$77,997$77,313$76,645$75,994$73,152
2 years$38,959$38,234$37,531$36,849$36,187$33,357
3 years$25,715$24,986$24,285$23,609$22,959$20,229
4 years$19,094$18,367$17,673$17,009$16,374$13,765
5 years$15,122$14,400$13,715$13,065$12,448$9,966
6 years$12,476$11,759$11,084$10,448$9,849$7,498
7 years$10,586$9,875$9,211$8,590$8,010$5,788
8 years$9,169$8,465$7,811$7,206$6,645$4,550
9 years$8,068$7,370$6,728$6,138$5,596$3,625
10 years$7,187$6,496$5,866$5,291$4,768$2,917
11 years$6,467$5,783$5,164$4,605$4,101$2,366
12 years$5,868$5,191$4,583$4,039$3,554$1,931
13 years$5,361$4,691$4,095$3,566$3,099$1,584
14 years$4,927$4,264$3,679$3,165$2,716$1,304
15 years$4,551$3,895$3,322$2,823$2,392$1,077
16 years$4,222$3,574$3,012$2,528$2,114$892
17 years$3,933$3,291$2,740$2,271$1,874$740
18 years$3,675$3,041$2,502$2,047$1,667$615
19 years$3,446$2,819$2,290$1,849$1,485$512
20 years$3,239$2,619$2,102$1,675$1,327$426
21 years$3,052$2,440$1,933$1,520$1,187$356
22 years$2,883$2,277$1,782$1,382$1,064$297
23 years$2,728$2,130$1,645$1,259$955$248
24 years$2,587$1,996$1,521$1,148$859$207
25 years$2,457$1,873$1,409$1,048$773$173
26 years$2,337$1,760$1,307$959$696$145
27 years$2,227$1,657$1,214$877$628$121
28 years$2,124$1,561$1,128$804$566$102
29 years$2,029$1,473$1,050$737$511$85
30 years$1,940$1,391$978$677$462$71
31 years$1,857$1,315$912$621$418$60
32 years$1,779$1,244$851$571$378$50
33 years$1,707$1,178$794$525$342$42
34 years$1,638$1,117$742$483$310$35
35 years$1,574$1,059$694$445$280$29
36 years$1,514$1,005$649$410$254$25
37 years$1,456$955$607$377$230$21
38 years$1,402$907$569$348$209$17
39 years$1,351$863$533$321$189$14
40 years$1,303$821$500$296$172$12
41 years$1,257$781$468$273$156$10
42 years$1,213$744$439$252$141$9
43 years$1,172$709$412$233$128$7
44 years$1,132$676$387$215$116$6
45 years$1,095$644$363$198$106$5
46 years$1,059$615$341$183$96$4
47 years$1,024$587$321$169$87$4
48 years$992$560$301$156$79$3
49 years$960$535$283$145$72$2
50 years$930$511$266$134$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $953,000, adding $6,684 every year, while hoping to spend $41,689 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: 70/9/21 Blend
60$953,000$953,000$953,000$953,000
61$1,057,101$1,006,592$991,820$1,125,168
62$1,120,568$1,011,558$980,689$1,176,426
63$1,189,112$1,015,370$967,788$1,226,976
64$1,263,206$1,017,928$953,014$1,281,287
65$1,343,371$1,019,125$936,258$1,339,726
66$1,430,180$1,018,846$917,407$1,402,699
67$1,524,261$1,016,972$896,343$1,470,656
68$1,626,307$1,013,375$872,942$1,544,091
69$1,737,078$1,007,919$847,074$1,623,550
70$1,857,412$1,000,459$818,603$1,709,636
71$1,988,230$990,843$787,388$1,803,015
72$2,130,544$978,909$753,279$1,904,419
73$2,285,468$964,484$716,123$2,014,660
74$2,454,230$947,388$675,757$2,134,630
75$2,638,178$927,426$632,012$2,265,317
76$2,838,797$904,396$584,709$2,407,807
77$3,057,723$878,080$533,666$2,563,303
78$3,296,754$848,249$478,687$2,733,127
79$3,557,872$814,662$419,572$2,918,742
80$3,843,256$777,062$356,109$3,121,760
81$4,155,308$735,177$288,078$3,343,960
82$4,496,670$688,722$215,249$3,587,303
83$4,870,253$637,392$137,383$3,853,954
84$5,279,262$580,867$54,228$4,146,302
85$5,727,225$518,808$0$4,466,978
86$6,218,029$450,856$0$4,826,623
87$6,755,953$376,634$0$5,234,176
88$7,345,712$295,741$0$5,681,072
89$7,992,497$207,754$0$6,171,275
90$8,702,026$112,229$0$6,709,154
91$9,480,597$8,692$0$7,299,522
92$10,335,148$0$0$7,947,684
93$11,273,321$0$0$8,669,719
94$12,303,532$0$0$9,463,589
95$13,435,055$0$0$10,335,584
96$14,678,106$0$0$11,293,584
97$16,043,937$0$0$12,346,270
98$17,544,946$0$0$13,503,202
99$19,194,790$0$0$14,774,916
100$21,008,517$0$0$16,173,019