Can I retire at age 61 with 956,000?

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 $956,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$78,946$78,242$77,556$76,887$76,233$75,689
2 years$39,082$38,354$37,649$36,965$36,301$35,753
3 years$25,796$25,065$24,361$23,684$23,031$22,495
4 years$19,154$18,425$17,729$17,063$16,426$15,907
5 years$15,170$14,446$13,758$13,106$12,487$11,985
6 years$12,515$11,796$11,119$10,481$9,880$9,398
7 years$10,619$9,906$9,240$8,617$8,035$7,572
8 years$9,198$8,491$7,836$7,228$6,666$6,221
9 years$8,093$7,393$6,749$6,157$5,614$5,188
10 years$7,210$6,517$5,884$5,307$4,783$4,376
11 years$6,488$5,802$5,180$4,619$4,114$3,725
12 years$5,886$5,207$4,597$4,052$3,565$3,194
13 years$5,378$4,706$4,107$3,577$3,109$2,755
14 years$4,942$4,277$3,691$3,175$2,725$2,389
15 years$4,565$3,908$3,332$2,832$2,399$2,080
16 years$4,235$3,585$3,021$2,535$2,121$1,817
17 years$3,945$3,302$2,749$2,278$1,880$1,593
18 years$3,687$3,051$2,509$2,053$1,672$1,400
19 years$3,456$2,828$2,297$1,855$1,490$1,233
20 years$3,249$2,628$2,108$1,680$1,331$1,088
21 years$3,062$2,447$1,939$1,525$1,191$961
22 years$2,892$2,285$1,787$1,386$1,068$851
23 years$2,737$2,137$1,650$1,263$958$754
24 years$2,595$2,002$1,526$1,152$861$669
25 years$2,465$1,879$1,414$1,052$775$594
26 years$2,345$1,766$1,311$962$698$528
27 years$2,234$1,662$1,217$880$630$470
28 years$2,131$1,566$1,132$806$568$419
29 years$2,035$1,477$1,053$740$513$373
30 years$1,946$1,395$981$679$463$332
31 years$1,863$1,319$915$623$419$296
32 years$1,785$1,248$853$573$379$264
33 years$1,712$1,182$797$527$343$236
34 years$1,644$1,120$744$485$311$211
35 years$1,579$1,062$696$446$281$188
36 years$1,518$1,008$651$411$255$168
37 years$1,461$958$609$379$231$150
38 years$1,407$910$571$349$209$134
39 years$1,356$865$535$322$190$120
40 years$1,307$823$501$297$172$107
41 years$1,261$784$470$274$156$96
42 years$1,217$746$441$253$142$86
43 years$1,175$711$414$233$129$77
44 years$1,136$678$388$215$117$69
45 years$1,098$646$365$199$106$61
46 years$1,062$617$342$184$96$55
47 years$1,028$589$322$170$87$49
48 years$995$562$302$157$79$44
49 years$963$537$284$145$72$39
50 years$933$513$267$134$65$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $956,000, adding $3,054 every year, while hoping to spend $24,605 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: 54/39/7 Blend
60$956,000$956,000$956,000$956,000
61$1,056,662$1,005,994$991,176$1,111,826
62$1,138,262$1,029,108$998,201$1,172,594
63$1,227,361$1,052,531$1,004,637$1,235,726
64$1,324,697$1,076,250$1,010,437$1,303,837
65$1,431,084$1,100,254$1,015,555$1,377,403
66$1,547,417$1,124,529$1,019,938$1,456,949
67$1,674,682$1,149,060$1,023,535$1,543,049
68$1,813,966$1,173,830$1,026,290$1,636,341
69$1,966,464$1,198,820$1,028,143$1,737,523
70$2,133,491$1,224,011$1,029,034$1,847,366
71$2,316,498$1,249,379$1,028,898$1,966,720
72$2,517,082$1,274,899$1,027,668$2,096,518
73$2,737,001$1,300,546$1,025,271$2,237,793
74$2,978,192$1,326,290$1,021,635$2,391,678
75$3,242,788$1,352,098$1,016,679$2,559,426
76$3,533,139$1,377,937$1,010,324$2,742,413
77$3,851,832$1,403,769$1,002,483$2,942,159
78$4,201,719$1,429,553$993,066$3,160,338
79$4,585,939$1,455,247$981,979$3,398,793
80$5,007,953$1,480,802$969,124$3,659,557
81$5,471,572$1,506,168$954,397$3,944,869
82$5,980,992$1,531,291$937,689$4,257,198
83$6,540,841$1,556,112$918,889$4,599,264
84$7,156,212$1,580,566$897,877$4,974,065
85$7,832,719$1,604,588$874,530$5,384,904
86$8,576,547$1,628,104$848,717$5,835,423
87$9,394,510$1,651,036$820,304$6,329,636
88$10,294,114$1,673,301$789,149$6,871,964
89$11,283,631$1,694,810$755,103$7,467,284
90$12,372,174$1,715,467$718,011$8,120,968
91$13,569,783$1,735,172$677,711$8,838,937
92$14,887,520$1,753,815$634,034$9,627,719
93$16,337,576$1,771,281$586,803$10,494,506
94$17,933,381$1,787,446$535,833$11,447,229
95$19,689,733$1,802,178$480,931$12,494,624
96$21,622,938$1,815,337$421,894$13,646,324
97$23,750,963$1,826,774$358,513$14,912,943
98$26,093,604$1,836,329$290,566$16,306,183
99$28,672,677$1,843,834$217,825$17,838,938
100$31,512,216$1,849,109$140,049$19,525,421