Can I retire at age 61 with 961,000?

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 $961,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$79,358$78,652$77,962$77,289$76,631$75,958
2 years$39,286$38,555$37,846$37,158$36,491$35,812
3 years$25,931$25,196$24,489$23,808$23,152$22,488
4 years$19,254$18,522$17,821$17,152$16,512$15,870
5 years$15,249$14,521$13,830$13,174$12,552$11,933
6 years$12,580$11,858$11,177$10,536$9,932$9,336
7 years$10,675$9,958$9,288$8,662$8,077$7,506
8 years$9,246$8,536$7,877$7,266$6,701$6,153
9 years$8,135$7,432$6,784$6,189$5,643$5,119
10 years$7,248$6,551$5,915$5,335$4,808$4,308
11 years$6,522$5,832$5,207$4,643$4,135$3,658
12 years$5,917$5,234$4,621$4,073$3,584$3,128
13 years$5,406$4,730$4,129$3,596$3,125$2,692
14 years$4,968$4,300$3,710$3,192$2,739$2,328
15 years$4,589$3,928$3,349$2,847$2,412$2,021
16 years$4,258$3,604$3,037$2,549$2,132$1,761
17 years$3,966$3,319$2,763$2,290$1,890$1,539
18 years$3,706$3,067$2,523$2,064$1,681$1,349
19 years$3,474$2,842$2,309$1,865$1,498$1,184
20 years$3,266$2,641$2,119$1,689$1,338$1,042
21 years$3,078$2,460$1,949$1,533$1,197$918
22 years$2,907$2,297$1,797$1,394$1,073$810
23 years$2,751$2,148$1,659$1,269$963$716
24 years$2,609$2,012$1,534$1,158$866$634
25 years$2,478$1,889$1,421$1,057$779$561
26 years$2,357$1,775$1,318$967$702$497
27 years$2,245$1,670$1,224$885$633$441
28 years$2,142$1,574$1,138$811$571$391
29 years$2,046$1,485$1,059$743$516$347
30 years$1,956$1,402$986$682$466$309
31 years$1,873$1,326$919$627$421$274
32 years$1,794$1,254$858$576$381$244
33 years$1,721$1,188$801$530$345$217
34 years$1,652$1,126$748$487$312$193
35 years$1,587$1,068$700$449$283$172
36 years$1,526$1,014$654$413$256$153
37 years$1,469$963$613$381$232$136
38 years$1,414$915$574$351$211$121
39 years$1,363$870$537$323$191$108
40 years$1,314$828$504$298$173$96
41 years$1,268$788$472$275$157$86
42 years$1,223$750$443$254$143$76
43 years$1,182$715$416$235$129$68
44 years$1,142$681$390$217$117$61
45 years$1,104$650$366$200$107$54
46 years$1,068$620$344$185$97$48
47 years$1,033$592$323$171$88$43
48 years$1,000$565$304$158$80$38
49 years$968$539$286$146$72$34
50 years$938$515$269$135$66$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $961,000, adding $5,769 every year, while hoping to spend $45,550 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: 36/39/25 Blend
60$961,000$961,000$961,000$961,000
61$1,064,973$1,014,040$999,144$1,095,122
62$1,125,135$1,015,263$984,151$1,119,109
63$1,189,907$1,015,019$967,128$1,140,406
64$1,259,712$1,013,189$947,961$1,162,499
65$1,335,012$1,009,645$926,527$1,185,488
66$1,416,317$1,004,251$902,700$1,209,488
67$1,504,187$996,865$876,346$1,234,628
68$1,599,237$987,334$847,326$1,261,054
69$1,702,143$975,498$815,496$1,288,930
70$1,813,649$961,185$780,702$1,318,443
71$1,934,572$944,213$742,786$1,349,801
72$2,065,811$924,392$701,582$1,383,241
73$2,208,354$901,518$656,916$1,419,026
74$2,363,290$875,376$608,606$1,457,453
75$2,531,814$845,738$556,463$1,498,854
76$2,715,242$812,363$500,288$1,543,602
77$2,915,024$774,996$439,875$1,592,114
78$3,132,753$733,367$375,007$1,644,857
79$3,370,182$687,190$305,458$1,702,350
80$3,629,243$636,164$230,993$1,765,175
81$3,912,059$579,970$151,365$1,833,982
82$4,220,971$518,271$66,318$1,909,495
83$4,558,554$450,710$0$1,992,519
84$4,927,642$376,910$0$2,090,473
85$5,331,356$296,473$0$2,217,141
86$5,773,133$208,979$0$2,356,004
87$6,256,759$113,985$0$2,508,380
88$6,786,399$11,021$0$2,675,732
89$7,366,643$0$0$2,859,676
90$8,002,545$0$0$3,105,093
91$8,699,671$0$0$3,379,462
92$9,464,151$0$0$3,680,483
93$10,302,737$0$0$4,010,832
94$11,222,866$0$0$4,373,456
95$12,232,729$0$0$4,771,605
96$13,341,350$0$0$5,208,854
97$14,558,669$0$0$5,689,145
98$15,895,633$0$0$6,216,818
99$17,364,306$0$0$6,796,657
100$18,977,973$0$0$7,433,930