Can I retire at age 61 with 966,000?

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 $966,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$79,771$79,061$78,368$77,691$77,030$75,817
2 years$39,491$38,755$38,043$37,351$36,681$35,461
3 years$26,066$25,327$24,616$23,931$23,272$22,084
4 years$19,354$18,618$17,914$17,241$16,598$15,451
5 years$15,329$14,597$13,902$13,243$12,617$11,515
6 years$12,646$11,919$11,235$10,590$9,984$8,927
7 years$10,730$10,010$9,336$8,707$8,119$7,109
8 years$9,294$8,580$7,918$7,304$6,736$5,772
9 years$8,178$7,471$6,820$6,221$5,673$4,754
10 years$7,285$6,585$5,946$5,363$4,833$3,959
11 years$6,555$5,862$5,234$4,667$4,157$3,326
12 years$5,948$5,262$4,645$4,094$3,602$2,814
13 years$5,434$4,755$4,150$3,614$3,141$2,395
14 years$4,994$4,322$3,729$3,208$2,754$2,048
15 years$4,613$3,948$3,367$2,861$2,424$1,758
16 years$4,280$3,623$3,053$2,562$2,143$1,514
17 years$3,986$3,336$2,778$2,302$1,900$1,307
18 years$3,725$3,083$2,536$2,075$1,689$1,132
19 years$3,493$2,857$2,321$1,874$1,506$981
20 years$3,283$2,655$2,130$1,698$1,345$853
21 years$3,094$2,473$1,960$1,541$1,204$742
22 years$2,922$2,308$1,806$1,401$1,079$646
23 years$2,766$2,159$1,668$1,276$968$564
24 years$2,622$2,023$1,542$1,164$870$492
25 years$2,490$1,898$1,428$1,063$783$430
26 years$2,369$1,784$1,325$972$706$376
27 years$2,257$1,679$1,230$889$636$329
28 years$2,153$1,582$1,144$815$574$288
29 years$2,056$1,493$1,064$747$518$252
30 years$1,966$1,410$991$686$468$221
31 years$1,882$1,333$924$630$423$194
32 years$1,804$1,261$862$579$383$170
33 years$1,730$1,194$805$532$347$149
34 years$1,661$1,132$752$490$314$131
35 years$1,596$1,073$703$451$284$115
36 years$1,534$1,019$658$415$258$101
37 years$1,476$968$616$383$233$88
38 years$1,422$920$577$353$212$78
39 years$1,370$874$540$325$192$68
40 years$1,321$832$506$300$174$60
41 years$1,274$792$475$277$158$52
42 years$1,230$754$445$255$143$46
43 years$1,188$719$418$236$130$40
44 years$1,148$685$392$218$118$36
45 years$1,110$653$368$201$107$31
46 years$1,073$623$346$186$97$27
47 years$1,038$595$325$172$88$24
48 years$1,005$568$305$159$80$21
49 years$974$542$287$146$73$19
50 years$943$518$270$135$66$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $966,000, adding $4,819 every year, while hoping to spend $45,523 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: 61/19/20 Blend
60$966,000$966,000$966,000$966,000
61$1,069,503$1,018,305$1,003,332$1,128,899
62$1,130,156$1,019,766$988,507$1,171,077
63$1,195,470$1,019,772$971,660$1,211,620
64$1,265,872$1,018,205$952,675$1,254,833
65$1,341,832$1,014,938$931,431$1,300,979
66$1,423,866$1,009,837$907,800$1,350,354
67$1,512,539$1,002,758$881,651$1,403,281
68$1,608,476$993,551$852,844$1,460,121
69$1,712,360$982,055$821,234$1,521,273
70$1,824,945$968,099$786,669$1,587,177
71$1,947,058$951,505$748,991$1,658,321
72$2,079,609$932,080$708,034$1,735,246
73$2,223,601$909,623$663,625$1,818,547
74$2,380,133$883,920$615,581$1,908,885
75$2,550,418$854,744$563,714$2,006,992
76$2,735,789$821,854$507,827$2,113,673
77$2,937,712$784,998$447,712$2,229,822
78$3,157,802$743,906$383,154$2,356,427
79$3,397,835$698,295$313,926$2,494,578
80$3,659,766$647,863$239,795$2,645,481
81$3,945,748$592,294$160,514$2,810,470
82$4,258,150$531,252$75,827$2,991,017
83$4,599,580$464,382$0$3,188,749
84$4,972,909$391,309$0$3,408,569
85$5,381,299$311,636$0$3,666,830
86$5,828,231$224,946$0$3,949,589
87$6,317,539$130,796$0$4,259,333
88$6,853,443$28,721$0$4,598,808
89$7,440,592$0$0$4,971,040
90$8,084,105$0$0$5,396,462
91$8,789,620$0$0$5,869,532
92$9,563,348$0$0$6,388,418
93$10,412,127$0$0$6,957,716
94$11,343,492$0$0$7,582,490
95$12,365,739$0$0$8,268,316
96$13,488,010$0$0$9,021,337
97$14,720,372$0$0$9,848,320
98$16,073,919$0$0$10,756,720
99$17,560,867$0$0$11,754,749
100$19,194,677$0$0$12,851,453