Can I retire at age 61 with 963,000?

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 $963,000?

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$79,524$78,815$78,124$77,450$76,791$74,155
2 years$39,368$38,635$37,924$37,235$36,567$33,938
3 years$25,985$25,248$24,540$23,857$23,200$20,660
4 years$19,294$18,560$17,859$17,188$16,546$14,116
5 years$15,281$14,551$13,859$13,202$12,578$10,264
6 years$12,607$11,882$11,200$10,558$9,953$7,755
7 years$10,697$9,979$9,307$8,680$8,094$6,014
8 years$9,265$8,554$7,893$7,281$6,715$4,750
9 years$8,152$7,447$6,799$6,202$5,655$3,803
10 years$7,263$6,565$5,927$5,346$4,818$3,076
11 years$6,535$5,844$5,218$4,653$4,144$2,508
12 years$5,929$5,245$4,631$4,081$3,591$2,058
13 years$5,417$4,740$4,137$3,603$3,131$1,697
14 years$4,978$4,309$3,718$3,198$2,745$1,405
15 years$4,598$3,936$3,356$2,852$2,417$1,167
16 years$4,266$3,611$3,043$2,554$2,136$972
17 years$3,974$3,326$2,769$2,295$1,894$811
18 years$3,714$3,073$2,528$2,068$1,684$678
19 years$3,482$2,848$2,314$1,869$1,501$568
20 years$3,273$2,647$2,124$1,692$1,341$476
21 years$3,084$2,465$1,953$1,536$1,200$400
22 years$2,913$2,301$1,800$1,397$1,075$336
23 years$2,757$2,152$1,662$1,272$965$282
24 years$2,614$2,017$1,537$1,160$868$237
25 years$2,483$1,893$1,424$1,059$781$200
26 years$2,362$1,779$1,321$969$703$168
27 years$2,250$1,674$1,226$887$634$142
28 years$2,146$1,577$1,140$812$572$119
29 years$2,050$1,488$1,061$745$517$101
30 years$1,960$1,405$988$684$467$85
31 years$1,876$1,328$921$628$422$71
32 years$1,798$1,257$860$577$382$60
33 years$1,725$1,190$803$531$346$51
34 years$1,656$1,128$750$488$313$43
35 years$1,591$1,070$701$449$283$36
36 years$1,529$1,016$656$414$257$31
37 years$1,472$965$614$381$233$26
38 years$1,417$917$575$352$211$22
39 years$1,366$872$539$324$191$18
40 years$1,317$829$505$299$174$15
41 years$1,270$790$473$276$157$13
42 years$1,226$752$444$255$143$11
43 years$1,184$716$417$235$130$9
44 years$1,144$683$391$217$118$8
45 years$1,106$651$367$200$107$7
46 years$1,070$621$345$185$97$6
47 years$1,035$593$324$171$88$5
48 years$1,002$566$305$158$80$4
49 years$971$540$286$146$73$3
50 years$940$516$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 $963,000, adding $4,849 every year, while hoping to spend $21,652 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: 42/41/17 Blend
60$963,000$963,000$963,000$963,000
61$1,066,228$1,015,189$1,000,262$1,105,513
62$1,151,945$1,041,895$1,010,733$1,160,437
63$1,245,681$1,069,185$1,020,830$1,217,382
64$1,348,228$1,097,063$1,030,516$1,278,589
65$1,460,464$1,125,536$1,039,754$1,344,457
66$1,583,351$1,154,606$1,048,506$1,415,430
67$1,717,950$1,184,280$1,056,729$1,491,991
68$1,865,432$1,214,561$1,064,380$1,574,678
69$2,027,083$1,245,451$1,071,413$1,664,077
70$2,204,320$1,276,953$1,077,780$1,760,839
71$2,398,706$1,309,068$1,083,431$1,865,678
72$2,611,959$1,341,798$1,088,312$1,979,380
73$2,845,975$1,375,143$1,092,366$2,102,813
74$3,102,840$1,409,100$1,095,536$2,236,932
75$3,384,852$1,443,668$1,097,758$2,382,789
76$3,694,543$1,478,844$1,098,970$2,541,543
77$4,034,703$1,514,624$1,099,101$2,714,471
78$4,408,403$1,551,001$1,098,082$2,902,980
79$4,819,029$1,587,969$1,095,836$3,108,620
80$5,270,309$1,625,518$1,092,286$3,333,101
81$5,766,352$1,663,640$1,087,349$3,578,305
82$6,311,683$1,702,321$1,080,938$3,846,305
83$6,911,288$1,741,548$1,072,962$4,139,389
84$7,570,660$1,781,305$1,063,328$4,460,075
85$8,295,854$1,821,575$1,051,935$4,811,140
86$9,093,536$1,862,337$1,038,680$5,195,644
87$9,971,053$1,903,569$1,023,453$5,616,957
88$10,936,503$1,945,246$1,006,140$6,078,796
89$11,998,802$1,987,339$986,622$6,585,257
90$13,167,779$2,029,818$964,774$7,140,853
91$14,454,263$2,072,650$940,464$7,750,558
92$15,870,185$2,115,796$913,556$8,419,855
93$17,428,690$2,159,216$883,907$9,154,785
94$19,144,265$2,202,866$851,366$9,962,008
95$21,032,870$2,246,697$815,778$10,848,863
96$23,112,094$2,290,657$776,977$11,823,439
97$25,401,316$2,334,687$734,794$12,894,652
98$27,921,890$2,378,726$689,049$14,072,325
99$30,697,346$2,422,707$639,556$15,367,289
100$33,753,612$2,466,557$586,118$16,791,479