Can I retire at age 61 with 957,000?

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 $957,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$79,028$78,324$77,637$76,967$76,313$74,197
2 years$39,123$38,394$37,688$37,003$36,339$34,224
3 years$25,823$25,091$24,387$23,708$23,055$21,006
4 years$19,174$18,445$17,747$17,081$16,443$14,476
5 years$15,186$14,461$13,773$13,120$12,500$10,620
6 years$12,528$11,808$11,130$10,492$9,891$8,100
7 years$10,630$9,917$9,249$8,626$8,044$6,342
8 years$9,208$8,500$7,844$7,236$6,673$5,059
9 years$8,102$7,401$6,756$6,164$5,620$4,093
10 years$7,217$6,524$5,890$5,313$4,788$3,346
11 years$6,494$5,808$5,186$4,624$4,118$2,758
12 years$5,892$5,213$4,602$4,056$3,569$2,289
13 years$5,383$4,711$4,112$3,581$3,112$1,909
14 years$4,947$4,282$3,694$3,178$2,728$1,599
15 years$4,570$3,912$3,336$2,835$2,402$1,344
16 years$4,240$3,589$3,024$2,538$2,123$1,133
17 years$3,949$3,305$2,752$2,280$1,882$958
18 years$3,691$3,054$2,512$2,055$1,674$811
19 years$3,460$2,831$2,300$1,857$1,492$688
20 years$3,253$2,630$2,111$1,682$1,332$584
21 years$3,065$2,450$1,941$1,526$1,192$497
22 years$2,895$2,287$1,789$1,388$1,069$423
23 years$2,740$2,139$1,652$1,264$959$360
24 years$2,598$2,004$1,528$1,153$862$307
25 years$2,467$1,881$1,415$1,053$776$262
26 years$2,347$1,768$1,312$963$699$224
27 years$2,236$1,663$1,219$881$630$191
28 years$2,133$1,568$1,133$807$569$163
29 years$2,037$1,479$1,054$740$513$140
30 years$1,948$1,397$982$679$464$119
31 years$1,865$1,320$916$624$419$102
32 years$1,787$1,249$854$573$379$87
33 years$1,714$1,183$798$527$343$75
34 years$1,645$1,121$745$485$311$64
35 years$1,581$1,063$697$447$282$55
36 years$1,520$1,009$652$411$255$47
37 years$1,463$959$610$379$231$40
38 years$1,408$911$571$349$210$34
39 years$1,357$866$535$322$190$29
40 years$1,308$824$502$297$172$25
41 years$1,262$785$470$274$156$21
42 years$1,218$747$441$253$142$18
43 years$1,177$712$414$234$129$16
44 years$1,137$679$389$216$117$13
45 years$1,099$647$365$199$106$12
46 years$1,063$617$343$184$96$10
47 years$1,029$589$322$170$88$8
48 years$996$562$303$157$79$7
49 years$964$537$284$145$72$6
50 years$934$513$267$134$66$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $957,000, adding $3,067 every year, while hoping to spend $21,128 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: 66/9/25 Blend
60$957,000$957,000$957,000$957,000
61$1,057,778$1,007,057$992,223$1,120,531
62$1,143,191$1,033,922$1,002,983$1,190,025
63$1,236,608$1,061,396$1,013,394$1,263,310
64$1,338,824$1,089,486$1,023,424$1,342,955
65$1,450,712$1,118,199$1,033,037$1,429,588
66$1,573,235$1,147,542$1,042,195$1,523,900
67$1,707,454$1,177,520$1,050,857$1,626,653
68$1,854,537$1,208,141$1,058,983$1,738,686
69$2,015,769$1,239,409$1,066,529$1,860,923
70$2,192,567$1,271,330$1,073,447$1,994,384
71$2,386,491$1,303,907$1,079,689$2,140,190
72$2,599,259$1,337,144$1,085,205$2,299,578
73$2,832,763$1,371,045$1,089,939$2,473,912
74$3,089,089$1,405,610$1,093,837$2,664,693
75$3,370,533$1,440,842$1,096,837$2,873,576
76$3,679,625$1,476,740$1,098,878$3,102,386
77$4,019,150$1,513,304$1,099,894$3,353,132
78$4,392,180$1,550,533$1,099,817$3,628,029
79$4,802,096$1,588,422$1,098,574$3,929,518
80$5,252,623$1,626,968$1,096,090$4,260,289
81$5,747,866$1,666,166$1,092,285$4,623,306
82$6,292,348$1,706,007$1,087,076$5,021,837
83$6,891,051$1,746,484$1,080,376$5,459,481
84$7,549,462$1,787,587$1,072,093$5,940,206
85$8,273,631$1,829,302$1,062,132$6,468,385
86$9,070,220$1,871,616$1,050,392$7,048,837
87$9,946,570$1,914,513$1,036,768$7,686,874
88$10,910,771$1,957,975$1,021,150$8,388,347
89$11,971,734$2,001,980$1,003,423$9,159,708
90$13,139,279$2,046,505$983,466$10,008,065
91$14,424,226$2,091,525$961,153$10,941,253
92$15,838,497$2,137,010$936,351$11,967,907
93$17,395,229$2,182,928$908,924$13,097,541
94$19,108,895$2,229,244$878,725$14,340,643
95$20,995,444$2,275,919$845,605$15,708,770
96$23,072,451$2,322,911$809,404$17,214,660
97$25,359,280$2,370,172$769,958$18,872,349
98$27,877,269$2,417,653$727,094$20,697,309
99$30,649,930$2,465,298$680,631$22,706,587
100$33,703,172$2,513,046$630,381$24,918,974