Can I retire at age 61 with 962,000?

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 $962,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$79,441$78,733$78,043$77,369$76,711$75,816
2 years$39,327$38,595$37,885$37,197$36,529$35,628
3 years$25,958$25,222$24,514$23,832$23,176$22,296
4 years$19,274$18,541$17,840$17,170$16,529$15,679
5 years$15,265$14,536$13,845$13,188$12,565$11,746
6 years$12,593$11,870$11,188$10,547$9,942$9,156
7 years$10,686$9,968$9,298$8,671$8,086$7,332
8 years$9,256$8,545$7,885$7,274$6,708$5,987
9 years$8,144$7,440$6,791$6,196$5,649$4,960
10 years$7,255$6,558$5,921$5,341$4,813$4,156
11 years$6,528$5,838$5,213$4,648$4,140$3,514
12 years$5,923$5,240$4,626$4,077$3,587$2,992
13 years$5,411$4,735$4,133$3,599$3,128$2,563
14 years$4,973$4,304$3,714$3,195$2,742$2,206
15 years$4,594$3,932$3,353$2,849$2,414$1,906
16 years$4,262$3,608$3,040$2,551$2,134$1,653
17 years$3,970$3,322$2,766$2,292$1,892$1,438
18 years$3,710$3,070$2,525$2,066$1,682$1,254
19 years$3,478$2,845$2,312$1,867$1,499$1,095
20 years$3,270$2,644$2,122$1,691$1,339$959
21 years$3,081$2,463$1,951$1,534$1,199$841
22 years$2,910$2,299$1,799$1,395$1,074$738
23 years$2,754$2,150$1,661$1,271$964$649
24 years$2,611$2,015$1,536$1,159$867$571
25 years$2,480$1,891$1,422$1,058$780$503
26 years$2,359$1,777$1,319$968$703$443
27 years$2,248$1,672$1,225$886$633$391
28 years$2,144$1,576$1,139$812$572$345
29 years$2,048$1,486$1,060$744$516$304
30 years$1,958$1,404$987$683$466$269
31 years$1,875$1,327$920$627$422$238
32 years$1,796$1,256$859$576$381$210
33 years$1,723$1,189$802$530$345$186
34 years$1,654$1,127$749$488$312$164
35 years$1,589$1,069$700$449$283$145
36 years$1,528$1,015$655$414$256$129
37 years$1,470$964$613$381$232$114
38 years$1,416$916$574$351$211$101
39 years$1,364$871$538$324$191$89
40 years$1,315$829$504$299$173$79
41 years$1,269$789$473$276$157$70
42 years$1,225$751$444$254$143$62
43 years$1,183$716$416$235$129$55
44 years$1,143$682$391$217$118$49
45 years$1,105$651$367$200$107$43
46 years$1,069$621$345$185$97$38
47 years$1,034$592$324$171$88$34
48 years$1,001$565$304$158$80$30
49 years$969$540$286$146$73$27
50 years$939$516$269$135$66$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $962,000, adding $2,383 every year, while hoping to spend $52,457 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: 27/49/24 Blend
60$962,000$962,000$962,000$962,000
61$1,062,582$1,011,596$996,685$1,083,202
62$1,115,152$1,005,350$974,260$1,093,544
63$1,171,325$997,041$949,326$1,099,906
64$1,231,415$986,510$921,743$1,105,639
65$1,295,763$973,593$891,365$1,110,722
66$1,364,745$958,113$858,040$1,115,140
67$1,438,773$939,885$821,608$1,118,878
68$1,518,299$918,710$781,903$1,121,930
69$1,603,818$894,380$738,750$1,124,292
70$1,695,877$866,673$691,967$1,125,968
71$1,795,072$835,356$641,363$1,126,967
72$1,902,060$800,180$586,740$1,127,310
73$2,017,564$760,882$527,890$1,127,023
74$2,142,377$717,187$464,595$1,126,148
75$2,277,369$668,799$396,629$1,124,735
76$2,423,500$615,409$323,755$1,122,853
77$2,581,822$556,689$245,726$1,120,585
78$2,753,493$492,292$162,283$1,118,033
79$2,939,786$421,852$73,157$1,115,321
80$3,142,103$344,981$0$1,112,597
81$3,361,984$261,271$0$1,115,660
82$3,601,123$170,291$0$1,139,451
83$3,861,386$71,583$0$1,165,537
84$4,144,823$0$0$1,194,279
85$4,453,692$0$0$1,245,139
86$4,790,478$0$0$1,342,826
87$5,157,915$0$0$1,449,554
88$5,559,013$0$0$1,566,215
89$5,997,085$0$0$1,693,793
90$6,475,779$0$0$1,833,370
91$6,999,110$0$0$1,986,139
92$7,571,499$0$0$2,153,411
93$8,197,814$0$0$2,336,634
94$8,883,414$0$0$2,537,397
95$9,634,203$0$0$2,757,455
96$10,456,679$0$0$2,998,738
97$11,358,001$0$0$3,263,372
98$12,346,053$0$0$3,553,700
99$13,429,516$0$0$3,872,302
100$14,617,953$0$0$4,222,019