Can I retire at age 61 with 959,000?

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 $959,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$79,193$78,488$77,800$77,128$76,472$75,768
2 years$39,205$38,474$37,767$37,081$36,415$35,706
3 years$25,877$25,143$24,438$23,758$23,103$22,411
4 years$19,214$18,483$17,784$17,116$16,477$15,807
5 years$15,218$14,491$13,801$13,147$12,526$11,879
6 years$12,554$11,833$11,154$10,514$9,911$9,290
7 years$10,652$9,937$9,269$8,644$8,061$7,464
8 years$9,227$8,518$7,861$7,251$6,687$6,115
9 years$8,119$7,417$6,770$6,176$5,631$5,085
10 years$7,232$6,537$5,903$5,324$4,798$4,276
11 years$6,508$5,820$5,196$4,634$4,127$3,629
12 years$5,905$5,224$4,612$4,064$3,576$3,102
13 years$5,395$4,721$4,120$3,588$3,118$2,667
14 years$4,958$4,291$3,702$3,185$2,734$2,305
15 years$4,579$3,920$3,342$2,841$2,407$2,000
16 years$4,249$3,596$3,030$2,543$2,127$1,741
17 years$3,957$3,312$2,758$2,285$1,886$1,521
18 years$3,698$3,061$2,517$2,059$1,677$1,332
19 years$3,467$2,836$2,304$1,861$1,495$1,169
20 years$3,259$2,636$2,115$1,685$1,335$1,027
21 years$3,071$2,455$1,945$1,530$1,195$905
22 years$2,901$2,292$1,793$1,391$1,071$798
23 years$2,745$2,143$1,655$1,267$961$705
24 years$2,603$2,008$1,531$1,155$864$623
25 years$2,472$1,885$1,418$1,055$778$551
26 years$2,352$1,771$1,315$965$700$488
27 years$2,241$1,667$1,221$883$631$432
28 years$2,137$1,571$1,135$809$570$383
29 years$2,041$1,482$1,056$742$515$340
30 years$1,952$1,399$984$681$465$302
31 years$1,869$1,323$917$625$420$268
32 years$1,791$1,252$856$575$380$238
33 years$1,717$1,185$799$528$344$212
34 years$1,649$1,124$747$486$312$188
35 years$1,584$1,066$698$448$282$167
36 years$1,523$1,011$653$412$256$149
37 years$1,466$961$611$380$232$133
38 years$1,411$913$572$350$210$118
39 years$1,360$868$536$323$190$105
40 years$1,311$826$503$298$173$93
41 years$1,265$786$471$275$157$83
42 years$1,221$749$442$254$142$74
43 years$1,179$713$415$234$129$66
44 years$1,139$680$389$216$117$59
45 years$1,102$649$366$200$106$52
46 years$1,065$619$343$184$97$47
47 years$1,031$590$323$170$88$42
48 years$998$564$303$157$80$37
49 years$966$538$285$145$72$33
50 years$936$514$268$134$66$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $959,000, adding $3,989 every year, while hoping to spend $37,817 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: 35/35/30 Blend
60$959,000$959,000$959,000$959,000
61$1,060,933$1,010,106$995,241$1,088,378
62$1,128,911$1,019,364$988,345$1,118,648
63$1,202,555$1,027,808$979,950$1,147,629
64$1,282,404$1,035,359$969,966$1,178,186
65$1,369,049$1,041,931$958,300$1,210,486
66$1,463,140$1,047,434$944,851$1,244,715
67$1,565,394$1,051,772$929,517$1,281,083
68$1,676,598$1,054,843$912,190$1,319,822
69$1,797,618$1,056,537$892,755$1,361,192
70$1,929,407$1,056,739$871,095$1,405,481
71$2,073,014$1,055,327$847,084$1,453,009
72$2,229,594$1,052,170$820,593$1,504,135
73$2,400,416$1,047,130$791,487$1,559,255
74$2,586,880$1,040,061$759,623$1,618,811
75$2,790,524$1,030,806$724,852$1,683,294
76$3,013,042$1,019,201$687,020$1,753,248
77$3,256,301$1,005,070$645,964$1,829,278
78$3,522,354$988,229$601,514$1,912,057
79$3,813,463$968,481$553,494$2,002,329
80$4,132,118$945,618$501,717$2,100,922
81$4,481,060$919,419$445,990$2,208,751
82$4,863,309$889,652$386,112$2,326,834
83$5,282,191$856,069$321,872$2,456,298
84$5,741,368$818,410$253,048$2,598,390
85$6,244,873$776,398$179,411$2,754,493
86$6,797,150$729,741$100,720$2,926,141
87$7,403,090$678,129$16,726$3,115,028
88$8,068,085$621,237$0$3,323,033
89$8,798,069$558,718$0$3,575,574
90$9,599,585$490,207$0$3,858,841
91$10,479,834$415,319$0$4,170,111
92$11,446,753$333,645$0$4,512,295
93$12,509,084$244,756$0$4,888,606
94$13,676,458$148,196$0$5,302,591
95$14,959,484$43,486$0$5,758,165
96$16,369,852$0$0$6,259,649
97$17,920,439$0$0$6,838,727
98$19,625,434$0$0$7,494,038
99$21,500,467$0$0$8,214,860
100$23,562,760$0$0$9,007,834