Can I retire at age 61 with 954,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $954,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$78,780$78,079$77,394$76,726$76,073$75,562
2 years$39,000$38,274$37,570$36,887$36,225$35,710
3 years$25,742$25,012$24,310$23,634$22,983$22,479
4 years$19,114$18,387$17,692$17,027$16,392$15,903
5 years$15,138$14,415$13,729$13,078$12,461$11,989
6 years$12,489$11,771$11,095$10,459$9,860$9,406
7 years$10,597$9,886$9,220$8,599$8,019$7,582
8 years$9,179$8,474$7,820$7,213$6,652$6,234
9 years$8,076$7,378$6,735$6,144$5,602$5,201
10 years$7,195$6,503$5,872$5,296$4,773$4,390
11 years$6,474$5,789$5,169$4,609$4,105$3,739
12 years$5,874$5,196$4,588$4,043$3,557$3,208
13 years$5,366$4,696$4,099$3,569$3,102$2,769
14 years$4,932$4,268$3,683$3,169$2,719$2,403
15 years$4,556$3,899$3,325$2,826$2,394$2,093
16 years$4,227$3,578$3,015$2,530$2,116$1,830
17 years$3,937$3,295$2,743$2,273$1,876$1,605
18 years$3,679$3,045$2,504$2,049$1,668$1,411
19 years$3,449$2,822$2,292$1,851$1,487$1,244
20 years$3,242$2,622$2,104$1,677$1,328$1,098
21 years$3,055$2,442$1,935$1,522$1,189$972
22 years$2,886$2,280$1,784$1,384$1,065$861
23 years$2,731$2,132$1,647$1,260$956$763
24 years$2,590$1,998$1,523$1,149$860$678
25 years$2,460$1,875$1,411$1,050$774$603
26 years$2,340$1,762$1,308$960$697$536
27 years$2,229$1,658$1,215$878$628$477
28 years$2,126$1,563$1,129$805$567$425
29 years$2,031$1,474$1,051$738$512$379
30 years$1,942$1,392$979$677$462$338
31 years$1,859$1,316$913$622$418$302
32 years$1,781$1,245$852$572$378$270
33 years$1,708$1,179$795$526$342$241
34 years$1,640$1,118$743$484$310$215
35 years$1,576$1,060$695$445$281$192
36 years$1,515$1,006$650$410$254$172
37 years$1,458$956$608$378$230$154
38 years$1,404$908$569$348$209$137
39 years$1,353$864$534$321$189$123
40 years$1,304$822$500$296$172$110
41 years$1,258$782$469$273$156$98
42 years$1,215$745$440$252$141$88
43 years$1,173$710$413$233$128$79
44 years$1,133$677$387$215$117$71
45 years$1,096$645$364$199$106$63
46 years$1,060$615$342$183$96$57
47 years$1,026$587$321$169$87$51
48 years$993$561$302$157$79$45
49 years$961$535$284$145$72$41
50 years$931$511$267$134$65$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $954,000, adding $5,824 every year, while hoping to spend $39,416 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: 46/31/23 Blend
60$954,000$954,000$954,000$954,000
61$1,057,315$1,006,753$991,966$1,098,736
62$1,123,223$1,014,146$983,259$1,135,828
63$1,194,533$1,020,580$972,939$1,171,707
64$1,271,753$1,025,966$960,910$1,209,839
65$1,355,444$1,030,211$947,073$1,250,453
66$1,446,222$1,033,214$931,323$1,293,804
67$1,544,764$1,034,868$913,549$1,340,174
68$1,651,814$1,035,061$893,637$1,389,878
69$1,768,192$1,033,672$871,467$1,443,261
70$1,894,799$1,030,574$846,913$1,500,712
71$2,032,627$1,025,630$819,843$1,562,655
72$2,182,767$1,018,698$790,120$1,629,567
73$2,346,420$1,009,625$757,600$1,701,971
74$2,524,908$998,250$722,132$1,780,450
75$2,719,684$984,400$683,559$1,865,647
76$2,932,351$967,894$641,717$1,958,276
77$3,164,670$948,541$596,434$2,059,128
78$3,418,583$926,135$547,531$2,169,078
79$3,696,224$900,462$494,819$2,289,093
80$3,999,947$871,292$438,104$2,420,245
81$4,332,341$838,385$377,179$2,563,720
82$4,696,257$801,484$311,832$2,720,830
83$5,094,837$760,318$241,840$2,893,025
84$5,531,538$714,601$166,969$3,081,910
85$6,010,169$664,030$86,977$3,289,261
86$6,534,924$608,285$1,608$3,517,038
87$7,110,423$547,028$0$3,767,410
88$7,741,755$479,901$0$4,064,739
89$8,434,523$406,526$0$4,391,560
90$9,194,902$326,504$0$4,750,476
91$10,029,692$239,412$0$5,144,798
92$10,946,383$144,805$0$5,578,176
93$11,953,226$42,213$0$6,054,641
94$13,059,313$0$0$6,578,638
95$14,274,656$0$0$7,178,563
96$15,610,288$0$0$7,853,809
97$17,078,362$0$0$8,596,135
98$18,692,269$0$0$9,412,328
99$20,466,759$0$0$10,309,863
100$22,418,085$0$0$11,296,977