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%18.5%
1 years$79,358$78,652$77,962$77,289$76,631$74,001
2 years$39,286$38,555$37,846$37,158$36,491$33,868
3 years$25,931$25,196$24,489$23,808$23,152$20,618
4 years$19,254$18,522$17,821$17,152$16,512$14,087
5 years$15,249$14,521$13,830$13,174$12,552$10,242
6 years$12,580$11,858$11,177$10,536$9,932$7,739
7 years$10,675$9,958$9,288$8,662$8,077$6,001
8 years$9,246$8,536$7,877$7,266$6,701$4,740
9 years$8,135$7,432$6,784$6,189$5,643$3,795
10 years$7,248$6,551$5,915$5,335$4,808$3,070
11 years$6,522$5,832$5,207$4,643$4,135$2,503
12 years$5,917$5,234$4,621$4,073$3,584$2,053
13 years$5,406$4,730$4,129$3,596$3,125$1,693
14 years$4,968$4,300$3,710$3,192$2,739$1,402
15 years$4,589$3,928$3,349$2,847$2,412$1,164
16 years$4,258$3,604$3,037$2,549$2,132$970
17 years$3,966$3,319$2,763$2,290$1,890$809
18 years$3,706$3,067$2,523$2,064$1,681$677
19 years$3,474$2,842$2,309$1,865$1,498$567
20 years$3,266$2,641$2,119$1,689$1,338$475
21 years$3,078$2,460$1,949$1,533$1,197$399
22 years$2,907$2,297$1,797$1,394$1,073$335
23 years$2,751$2,148$1,659$1,269$963$282
24 years$2,609$2,012$1,534$1,158$866$237
25 years$2,478$1,889$1,421$1,057$779$199
26 years$2,357$1,775$1,318$967$702$168
27 years$2,245$1,670$1,224$885$633$141
28 years$2,142$1,574$1,138$811$571$119
29 years$2,046$1,485$1,059$743$516$100
30 years$1,956$1,402$986$682$466$85
31 years$1,873$1,326$919$627$421$71
32 years$1,794$1,254$858$576$381$60
33 years$1,721$1,188$801$530$345$51
34 years$1,652$1,126$748$487$312$43
35 years$1,587$1,068$700$449$283$36
36 years$1,526$1,014$654$413$256$30
37 years$1,469$963$613$381$232$26
38 years$1,414$915$574$351$211$22
39 years$1,363$870$537$323$191$18
40 years$1,314$828$504$298$173$15
41 years$1,268$788$472$275$157$13
42 years$1,223$750$443$254$143$11
43 years$1,182$715$416$235$129$9
44 years$1,142$681$390$217$117$8
45 years$1,104$650$366$200$107$7
46 years$1,068$620$344$185$97$6
47 years$1,033$592$323$171$88$5
48 years$1,000$565$304$158$80$4
49 years$968$539$286$146$72$3
50 years$938$515$269$135$66$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $961,000, adding $2,752 every year, while hoping to spend $37,766 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: 78/14/8 Blend
60$961,000$961,000$961,000$961,000
61$1,061,861$1,010,928$996,032$1,143,297
62$1,129,988$1,020,280$989,217$1,206,499
63$1,203,798$1,028,826$980,907$1,270,624
64$1,283,831$1,036,484$971,013$1,339,841
65$1,370,681$1,043,171$959,441$1,414,639
66$1,465,001$1,048,796$946,092$1,495,558
67$1,567,508$1,053,264$930,863$1,583,194
68$1,678,992$1,056,473$913,646$1,678,201
69$1,800,324$1,058,315$894,328$1,781,302
70$1,932,459$1,058,674$872,789$1,893,292
71$2,076,449$1,057,428$848,907$2,015,047
72$2,233,453$1,054,448$822,552$2,147,534
73$2,404,745$1,049,596$793,588$2,291,816
74$2,591,729$1,042,726$761,872$2,449,068
75$2,795,949$1,033,683$727,259$2,620,580
76$3,019,104$1,022,303$689,591$2,807,779
77$3,263,068$1,008,411$648,707$3,012,234
78$3,529,901$991,822$604,438$3,235,676
79$3,821,871$972,342$556,607$3,480,012
80$4,141,478$949,763$505,030$3,747,344
81$4,491,472$923,865$449,512$4,039,989
82$4,874,885$894,417$389,853$4,360,500
83$5,295,052$861,172$325,842$4,711,694
84$5,755,648$823,870$257,258$5,096,672
85$6,260,721$782,236$183,873$5,518,853
86$6,814,728$735,979$105,446$5,982,008
87$7,422,579$684,791$21,728$6,490,291
88$8,089,682$628,347$0$7,048,281
89$8,821,996$566,301$0$7,666,798
90$9,626,081$498,291$0$8,347,988
91$10,509,166$423,933$0$9,096,151
92$11,479,214$342,819$0$9,918,074
93$12,544,998$254,521$0$10,821,232
94$13,716,182$158,586$0$11,813,867
95$15,003,411$54,536$0$12,905,059
96$16,418,415$0$0$14,104,816
97$17,974,117$0$0$15,433,123
98$19,684,752$0$0$16,902,990
99$21,566,006$0$0$18,519,498
100$23,635,161$0$0$20,297,501