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%11%
1 years$79,358$78,652$77,962$77,289$76,631$76,309
2 years$39,286$38,555$37,846$37,158$36,491$36,165
3 years$25,931$25,196$24,489$23,808$23,152$22,833
4 years$19,254$18,522$17,821$17,152$16,512$16,202
5 years$15,249$14,521$13,830$13,174$12,552$12,253
6 years$12,580$11,858$11,177$10,536$9,932$9,644
7 years$10,675$9,958$9,288$8,662$8,077$7,800
8 years$9,246$8,536$7,877$7,266$6,701$6,434
9 years$8,135$7,432$6,784$6,189$5,643$5,388
10 years$7,248$6,551$5,915$5,335$4,808$4,563
11 years$6,522$5,832$5,207$4,643$4,135$3,901
12 years$5,917$5,234$4,621$4,073$3,584$3,360
13 years$5,406$4,730$4,129$3,596$3,125$2,911
14 years$4,968$4,300$3,710$3,192$2,739$2,536
15 years$4,589$3,928$3,349$2,847$2,412$2,218
16 years$4,258$3,604$3,037$2,549$2,132$1,947
17 years$3,966$3,319$2,763$2,290$1,890$1,715
18 years$3,706$3,067$2,523$2,064$1,681$1,514
19 years$3,474$2,842$2,309$1,865$1,498$1,340
20 years$3,266$2,641$2,119$1,689$1,338$1,189
21 years$3,078$2,460$1,949$1,533$1,197$1,056
22 years$2,907$2,297$1,797$1,394$1,073$940
23 years$2,751$2,148$1,659$1,269$963$837
24 years$2,609$2,012$1,534$1,158$866$747
25 years$2,478$1,889$1,421$1,057$779$667
26 years$2,357$1,775$1,318$967$702$596
27 years$2,245$1,670$1,224$885$633$533
28 years$2,142$1,574$1,138$811$571$477
29 years$2,046$1,485$1,059$743$516$428
30 years$1,956$1,402$986$682$466$383
31 years$1,873$1,326$919$627$421$344
32 years$1,794$1,254$858$576$381$309
33 years$1,721$1,188$801$530$345$277
34 years$1,652$1,126$748$487$312$249
35 years$1,587$1,068$700$449$283$223
36 years$1,526$1,014$654$413$256$201
37 years$1,469$963$613$381$232$180
38 years$1,414$915$574$351$211$162
39 years$1,363$870$537$323$191$146
40 years$1,314$828$504$298$173$131
41 years$1,268$788$472$275$157$118
42 years$1,223$750$443$254$143$106
43 years$1,182$715$416$235$129$95
44 years$1,142$681$390$217$117$86
45 years$1,104$650$366$200$107$77
46 years$1,068$620$344$185$97$70
47 years$1,033$592$323$171$88$63
48 years$1,000$565$304$158$80$56
49 years$968$539$286$146$72$51
50 years$938$515$269$135$66$46

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $961,000, adding $4,949 every year, while hoping to spend $57,939 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: 70/10/20 Blend
60$961,000$961,000$961,000$961,000
61$1,064,127$1,013,194$998,298$1,133,076
62$1,111,021$1,001,194$970,095$1,167,702
63$1,160,757$986,664$939,004$1,198,279
64$1,213,562$969,419$904,869$1,230,315
65$1,269,688$949,263$867,525$1,263,948
66$1,329,407$925,987$826,798$1,299,333
67$1,393,020$899,374$782,509$1,336,639
68$1,460,853$869,188$734,468$1,376,057
69$1,533,266$835,184$682,479$1,417,798
70$1,610,653$797,102$626,335$1,462,094
71$1,693,444$754,665$565,822$1,509,206
72$1,782,113$707,581$500,715$1,559,422
73$1,877,178$655,542$430,778$1,613,060
74$1,979,208$598,222$355,767$1,670,475
75$2,088,828$535,275$275,427$1,732,061
76$2,206,723$466,338$189,488$1,798,251
77$2,333,646$391,026$97,673$1,869,530
78$2,470,423$308,931$0$1,946,431
79$2,617,961$219,624$0$2,029,614
80$2,777,259$122,651$0$2,141,917
81$2,949,411$17,532$0$2,263,268
82$3,135,622$0$0$2,394,544
83$3,337,216$0$0$2,547,299
84$3,555,647$0$0$2,714,945
85$3,792,517$0$0$2,896,789
86$4,049,585$0$0$3,094,185
87$4,328,786$0$0$3,308,626
88$4,632,249$0$0$3,541,753
89$4,962,316$0$0$3,795,373
90$5,321,563$0$0$4,071,470
91$5,712,826$0$0$4,372,233
92$6,139,224$0$0$4,700,065
93$6,604,192$0$0$5,057,615
94$7,111,507$0$0$5,447,797
95$7,665,329$0$0$5,873,818
96$8,270,237$0$0$6,339,209
97$8,931,272$0$0$6,847,857
98$9,653,983$0$0$7,404,042
99$10,444,479$0$0$8,012,475
100$11,309,489$0$0$8,678,345