Can I retire at age 61 with 965,000?

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 $965,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$79,689$78,979$78,286$77,610$76,950$76,530
2 years$39,450$38,715$38,003$37,313$36,643$36,218
3 years$26,039$25,301$24,591$23,907$23,248$22,833
4 years$19,334$18,599$17,896$17,223$16,581$16,178
5 years$15,313$14,582$13,888$13,229$12,604$12,215
6 years$12,633$11,907$11,223$10,580$9,973$9,599
7 years$10,719$9,999$9,327$8,698$8,111$7,751
8 years$9,285$8,571$7,910$7,297$6,729$6,383
9 years$8,169$7,463$6,813$6,215$5,667$5,335
10 years$7,278$6,578$5,939$5,357$4,828$4,511
11 years$6,549$5,856$5,229$4,663$4,152$3,849
12 years$5,942$5,256$4,641$4,090$3,598$3,309
13 years$5,428$4,750$4,146$3,611$3,138$2,862
14 years$4,989$4,318$3,725$3,205$2,751$2,488
15 years$4,608$3,944$3,363$2,858$2,422$2,172
16 years$4,275$3,619$3,049$2,559$2,141$1,903
17 years$3,982$3,333$2,775$2,300$1,898$1,672
18 years$3,722$3,080$2,533$2,072$1,688$1,473
19 years$3,489$2,854$2,319$1,873$1,504$1,301
20 years$3,280$2,652$2,128$1,696$1,344$1,152
21 years$3,091$2,470$1,958$1,539$1,202$1,021
22 years$2,919$2,306$1,804$1,399$1,078$906
23 years$2,763$2,157$1,666$1,275$967$806
24 years$2,619$2,021$1,541$1,162$870$717
25 years$2,488$1,896$1,427$1,062$782$639
26 years$2,367$1,782$1,323$971$705$570
27 years$2,255$1,677$1,229$888$635$509
28 years$2,151$1,581$1,142$814$573$454
29 years$2,054$1,491$1,063$746$518$406
30 years$1,964$1,408$990$685$468$363
31 years$1,880$1,331$923$629$423$325
32 years$1,802$1,260$861$578$383$291
33 years$1,728$1,193$804$532$346$260
34 years$1,659$1,131$751$489$313$233
35 years$1,594$1,072$703$450$284$209
36 years$1,533$1,018$657$415$257$187
37 years$1,475$967$615$382$233$168
38 years$1,420$919$576$352$211$151
39 years$1,368$874$540$325$192$135
40 years$1,319$831$506$300$174$121
41 years$1,273$791$474$276$158$109
42 years$1,229$753$445$255$143$97
43 years$1,187$718$418$235$130$87
44 years$1,147$684$392$217$118$79
45 years$1,108$653$368$201$107$70
46 years$1,072$623$346$185$97$63
47 years$1,037$594$325$171$88$57
48 years$1,004$567$305$158$80$51
49 years$973$542$287$146$73$46
50 years$942$517$270$135$66$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $965,000, adding $6,903 every year, while hoping to spend $53,924 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: 62/19/19 Blend
60$965,000$965,000$965,000$965,000
61$1,070,550$1,019,405$1,004,448$1,131,297
62$1,122,372$1,011,982$980,722$1,165,655
63$1,177,672$1,002,387$954,394$1,196,498
64$1,236,748$990,457$925,320$1,228,922
65$1,299,927$976,021$893,349$1,263,085
66$1,367,567$958,893$858,324$1,299,164
67$1,440,060$938,880$820,079$1,337,357
68$1,517,837$915,776$778,442$1,377,883
69$1,601,370$889,363$733,234$1,420,986
70$1,691,178$859,410$684,266$1,466,938
71$1,787,831$825,673$631,341$1,516,041
72$1,891,952$787,894$574,253$1,568,630
73$2,004,230$745,799$512,789$1,625,077
74$2,125,417$699,099$446,724$1,685,798
75$2,256,344$647,489$375,824$1,751,250
76$2,397,920$590,646$299,843$1,821,945
77$2,551,148$528,227$218,527$1,898,448
78$2,717,126$459,871$131,609$1,981,387
79$2,897,066$385,198$38,811$2,071,458
80$3,092,298$303,804$0$2,169,433
81$3,304,285$215,263$0$2,288,376
82$3,534,636$119,125$0$2,426,218
83$3,785,123$14,916$0$2,576,196
84$4,057,693$0$0$2,739,541
85$4,354,490$0$0$2,938,073
86$4,677,872$0$0$3,157,852
87$5,030,434$0$0$3,397,531
88$5,415,033$0$0$3,659,062
89$5,834,813$0$0$3,944,590
90$6,293,235$0$0$4,256,480
91$6,794,110$0$0$4,597,333
92$7,341,631$0$0$4,970,014
93$7,940,417$0$0$5,377,677
94$8,595,552$0$0$5,823,794
95$9,312,635$0$0$6,312,190
96$10,097,831$0$0$6,847,074
97$10,957,929$0$0$7,433,084
98$11,900,406$0$0$8,075,327
99$12,933,496$0$0$8,779,427
100$14,066,267$0$0$9,551,578