Can I retire at age 61 with 958,000?

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 $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%13.6%
1 years$79,111$78,406$77,719$77,048$76,392$75,251
2 years$39,164$38,434$37,727$37,042$36,377$35,230
3 years$25,850$25,117$24,412$23,733$23,079$21,961
4 years$19,194$18,464$17,766$17,098$16,460$15,381
5 years$15,202$14,476$13,787$13,133$12,513$11,475
6 years$12,541$11,821$11,142$10,503$9,901$8,906
7 years$10,641$9,927$9,259$8,635$8,052$7,100
8 years$9,217$8,509$7,852$7,244$6,680$5,771
9 years$8,110$7,409$6,763$6,170$5,626$4,759
10 years$7,225$6,531$5,896$5,319$4,793$3,968
11 years$6,501$5,814$5,191$4,629$4,122$3,338
12 years$5,898$5,218$4,607$4,060$3,572$2,828
13 years$5,389$4,716$4,116$3,584$3,115$2,410
14 years$4,952$4,286$3,698$3,182$2,731$2,063
15 years$4,575$3,916$3,339$2,838$2,404$1,773
16 years$4,244$3,593$3,027$2,541$2,125$1,529
17 years$3,953$3,309$2,755$2,283$1,884$1,323
18 years$3,695$3,057$2,515$2,057$1,675$1,146
19 years$3,464$2,833$2,302$1,859$1,493$996
20 years$3,256$2,633$2,113$1,684$1,334$867
21 years$3,068$2,453$1,943$1,528$1,194$755
22 years$2,898$2,289$1,791$1,389$1,070$659
23 years$2,743$2,141$1,654$1,265$960$576
24 years$2,600$2,006$1,529$1,154$863$503
25 years$2,470$1,883$1,417$1,054$777$440
26 years$2,350$1,769$1,314$964$700$386
27 years$2,238$1,665$1,220$882$631$338
28 years$2,135$1,569$1,134$808$569$296
29 years$2,039$1,480$1,055$741$514$260
30 years$1,950$1,398$983$680$464$228
31 years$1,867$1,322$916$625$420$200
32 years$1,789$1,250$855$574$380$176
33 years$1,716$1,184$798$528$344$155
34 years$1,647$1,122$746$486$311$136
35 years$1,582$1,065$697$447$282$119
36 years$1,522$1,010$652$412$255$105
37 years$1,464$960$611$379$231$92
38 years$1,410$912$572$350$210$81
39 years$1,358$867$536$322$190$71
40 years$1,310$825$502$297$173$63
41 years$1,264$785$471$274$157$55
42 years$1,220$748$442$253$142$49
43 years$1,178$713$414$234$129$43
44 years$1,138$679$389$216$117$38
45 years$1,100$648$365$199$106$33
46 years$1,064$618$343$184$96$29
47 years$1,030$590$322$170$88$26
48 years$997$563$303$157$80$23
49 years$965$538$285$145$72$20
50 years$935$514$268$134$66$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $958,000, adding $3,845 every year, while hoping to spend $49,181 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: 56/17/27 Blend
60$958,000$958,000$958,000$958,000
61$1,059,682$1,008,908$994,059$1,110,961
62$1,115,441$1,006,016$975,032$1,143,740
63$1,175,240$1,001,335$953,719$1,173,984
64$1,239,438$994,723$929,992$1,205,928
65$1,308,430$986,034$903,716$1,239,753
66$1,382,650$975,110$874,751$1,275,660
67$1,462,574$961,785$842,949$1,313,872
68$1,548,726$945,882$808,157$1,354,637
69$1,641,680$927,214$770,214$1,398,232
70$1,742,068$905,583$728,953$1,444,964
71$1,850,582$880,780$684,196$1,495,176
72$1,967,986$852,583$635,761$1,549,246
73$2,095,117$820,756$583,456$1,607,598
74$2,232,897$785,051$527,080$1,670,699
75$2,382,340$745,206$466,423$1,739,069
76$2,544,558$700,940$401,268$1,813,286
77$2,720,778$651,962$331,386$1,893,990
78$2,912,348$597,958$256,538$1,981,890
79$3,120,750$538,601$176,475$2,077,775
80$3,347,617$473,543$90,937$2,182,517
81$3,594,744$402,416$0$2,297,082
82$3,864,106$324,833$0$2,422,642
83$4,157,878$240,383$0$2,588,247
84$4,478,454$148,634$0$2,769,072
85$4,828,466$49,127$0$2,966,660
86$5,210,817$0$0$3,182,714
87$5,628,697$0$0$3,430,077
88$6,085,622$0$0$3,710,684
89$6,585,461$0$0$4,017,732
90$7,132,476$0$0$4,353,847
91$7,731,358$0$0$4,721,926
92$8,387,274$0$0$5,125,153
93$9,105,914$0$0$5,567,040
94$9,893,545$0$0$6,051,452
95$10,757,067$0$0$6,582,646
96$11,704,081$0$0$7,165,311
97$12,742,958$0$0$7,804,612
98$13,882,921$0$0$8,506,237
99$15,134,126$0$0$9,276,453
100$16,507,761$0$0$10,122,162