Can I retire at age 61 with 958,000?

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 $958,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$79,111$78,406$77,719$77,048$76,392$74,365
2 years$39,164$38,434$37,727$37,042$36,377$34,349
3 years$25,850$25,117$24,412$23,733$23,079$21,113
4 years$19,194$18,464$17,766$17,098$16,460$14,572
5 years$15,202$14,476$13,787$13,133$12,513$10,707
6 years$12,541$11,821$11,142$10,503$9,901$8,180
7 years$10,641$9,927$9,259$8,635$8,052$6,415
8 years$9,217$8,509$7,852$7,244$6,680$5,127
9 years$8,110$7,409$6,763$6,170$5,626$4,155
10 years$7,225$6,531$5,896$5,319$4,793$3,403
11 years$6,501$5,814$5,191$4,629$4,122$2,811
12 years$5,898$5,218$4,607$4,060$3,572$2,337
13 years$5,389$4,716$4,116$3,584$3,115$1,953
14 years$4,952$4,286$3,698$3,182$2,731$1,640
15 years$4,575$3,916$3,339$2,838$2,404$1,381
16 years$4,244$3,593$3,027$2,541$2,125$1,167
17 years$3,953$3,309$2,755$2,283$1,884$988
18 years$3,695$3,057$2,515$2,057$1,675$839
19 years$3,464$2,833$2,302$1,859$1,493$713
20 years$3,256$2,633$2,113$1,684$1,334$607
21 years$3,068$2,453$1,943$1,528$1,194$518
22 years$2,898$2,289$1,791$1,389$1,070$442
23 years$2,743$2,141$1,654$1,265$960$377
24 years$2,600$2,006$1,529$1,154$863$322
25 years$2,470$1,883$1,417$1,054$777$276
26 years$2,350$1,769$1,314$964$700$236
27 years$2,238$1,665$1,220$882$631$202
28 years$2,135$1,569$1,134$808$569$173
29 years$2,039$1,480$1,055$741$514$148
30 years$1,950$1,398$983$680$464$127
31 years$1,867$1,322$916$625$420$109
32 years$1,789$1,250$855$574$380$93
33 years$1,716$1,184$798$528$344$80
34 years$1,647$1,122$746$486$311$69
35 years$1,582$1,065$697$447$282$59
36 years$1,522$1,010$652$412$255$50
37 years$1,464$960$611$379$231$43
38 years$1,410$912$572$350$210$37
39 years$1,358$867$536$322$190$32
40 years$1,310$825$502$297$173$27
41 years$1,264$785$471$274$157$23
42 years$1,220$748$442$253$142$20
43 years$1,178$713$414$234$129$17
44 years$1,138$679$389$216$117$15
45 years$1,100$648$365$199$106$13
46 years$1,064$618$343$184$96$11
47 years$1,030$590$322$170$88$9
48 years$997$563$303$157$80$8
49 years$965$538$285$145$72$7
50 years$935$514$268$134$66$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $958,000, adding $5,578 every year, while hoping to spend $21,173 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: 67/20/13 Blend
60$958,000$958,000$958,000$958,000
61$1,061,470$1,010,696$995,847$1,129,092
62$1,147,212$1,037,692$1,006,680$1,201,851
63$1,240,990$1,065,301$1,017,166$1,278,351
64$1,343,601$1,093,531$1,027,271$1,361,454
65$1,455,924$1,122,390$1,036,960$1,451,805
66$1,578,925$1,151,884$1,046,195$1,550,114
67$1,713,668$1,182,019$1,054,936$1,657,164
68$1,861,327$1,212,803$1,063,141$1,773,815
69$2,023,192$1,244,240$1,070,766$1,901,017
70$2,200,686$1,276,336$1,077,765$2,039,815
71$2,395,375$1,309,095$1,084,089$2,191,359
72$2,608,984$1,342,521$1,089,686$2,356,917
73$2,843,413$1,376,618$1,094,504$2,537,886
74$3,100,756$1,411,387$1,098,484$2,735,804
75$3,383,318$1,446,830$1,101,569$2,952,366
76$3,693,640$1,482,948$1,103,694$3,189,440
77$4,034,519$1,519,740$1,104,796$3,449,082
78$4,409,037$1,557,205$1,104,804$3,733,559
79$4,820,591$1,595,340$1,103,647$4,045,367
80$5,272,921$1,634,141$1,101,249$4,387,258
81$5,770,149$1,673,604$1,097,531$4,762,263
82$6,316,815$1,713,721$1,092,409$5,173,722
83$6,917,921$1,754,484$1,085,795$5,625,315
84$7,578,978$1,795,884$1,077,599$6,121,097
85$8,306,060$1,837,908$1,067,725$6,665,536
86$9,105,856$1,880,543$1,056,071$7,263,556
87$9,985,737$1,923,774$1,042,534$7,920,582
88$10,953,825$1,967,582$1,027,001$8,642,591
89$12,019,069$2,011,947$1,009,360$9,436,172
90$13,191,328$2,056,847$989,487$10,308,583
91$14,481,467$2,102,255$967,258$11,267,824
92$15,901,455$2,148,145$942,540$12,322,709
93$17,464,483$2,194,483$915,195$13,482,951
94$19,185,084$2,241,236$885,077$14,759,255
95$21,079,272$2,288,366$852,036$16,163,415
96$23,164,691$2,335,830$815,914$17,708,432
97$25,460,787$2,383,583$776,544$19,408,628
98$27,988,984$2,431,574$733,754$21,279,790
99$30,772,889$2,479,750$687,364$23,339,312
100$33,838,516$2,528,051$637,184$25,606,363