Can I retire at age 61 with 968,000?

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 $968,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$79,937$79,225$78,530$77,852$77,190$74,779
2 years$39,573$38,836$38,121$37,429$36,757$34,349
3 years$26,120$25,379$24,667$23,981$23,320$20,992
4 years$19,395$18,657$17,951$17,277$16,632$14,400
5 years$15,360$14,627$13,931$13,270$12,643$10,514
6 years$12,672$11,944$11,258$10,612$10,004$7,980
7 years$10,752$10,031$9,356$8,725$8,136$6,216
8 years$9,313$8,598$7,934$7,319$6,750$4,933
9 years$8,195$7,486$6,834$6,234$5,684$3,969
10 years$7,300$6,599$5,958$5,374$4,843$3,226
11 years$6,569$5,874$5,245$4,677$4,165$2,644
12 years$5,960$5,273$4,655$4,102$3,610$2,181
13 years$5,445$4,765$4,159$3,622$3,148$1,808
14 years$5,004$4,331$3,737$3,215$2,759$1,505
15 years$4,622$3,957$3,374$2,867$2,429$1,258
16 years$4,289$3,630$3,059$2,567$2,147$1,053
17 years$3,994$3,343$2,783$2,307$1,904$884
18 years$3,733$3,089$2,541$2,079$1,693$744
19 years$3,500$2,863$2,326$1,878$1,509$627
20 years$3,290$2,660$2,135$1,701$1,348$529
21 years$3,100$2,478$1,964$1,544$1,206$447
22 years$2,928$2,313$1,810$1,404$1,081$377
23 years$2,771$2,164$1,671$1,278$970$319
24 years$2,628$2,027$1,545$1,166$872$270
25 years$2,496$1,902$1,431$1,065$785$229
26 years$2,374$1,788$1,327$974$707$194
27 years$2,262$1,683$1,233$891$637$164
28 years$2,157$1,586$1,146$817$575$139
29 years$2,061$1,496$1,066$749$519$118
30 years$1,970$1,413$993$687$469$100
31 years$1,886$1,335$926$631$424$85
32 years$1,807$1,264$864$580$384$72
33 years$1,734$1,197$807$533$347$61
34 years$1,664$1,134$754$491$314$52
35 years$1,599$1,076$705$452$285$44
36 years$1,537$1,021$659$416$258$38
37 years$1,479$970$617$383$234$32
38 years$1,425$922$578$353$212$27
39 years$1,373$876$541$326$192$23
40 years$1,323$834$507$301$174$20
41 years$1,277$794$476$277$158$17
42 years$1,232$756$446$256$144$14
43 years$1,190$720$419$236$130$12
44 years$1,150$686$393$218$118$10
45 years$1,112$655$369$201$107$9
46 years$1,075$624$347$186$97$7
47 years$1,041$596$326$172$89$6
48 years$1,007$569$306$159$80$5
49 years$976$543$288$147$73$5
50 years$945$519$270$136$66$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $968,000, adding $4,971 every year, while hoping to spend $31,376 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: 65/8/27 Blend
60$968,000$968,000$968,000$968,000
61$1,071,864$1,020,560$1,005,556$1,133,610
62$1,147,810$1,037,183$1,005,858$1,192,542
63$1,230,451$1,053,570$1,005,119$1,252,991
64$1,320,437$1,069,675$1,003,270$1,318,369
65$1,418,482$1,085,450$1,000,241$1,389,166
66$1,525,375$1,100,843$995,956$1,465,921
67$1,641,979$1,115,801$990,336$1,549,226
68$1,769,249$1,130,264$983,301$1,639,738
69$1,908,235$1,144,168$974,763$1,738,178
70$2,060,090$1,157,448$964,633$1,845,343
71$2,226,086$1,170,030$952,816$1,962,111
72$2,407,624$1,181,839$939,212$2,089,452
73$2,606,245$1,192,792$923,719$2,228,434
74$2,823,646$1,202,803$906,228$2,380,235
75$3,061,697$1,211,779$886,625$2,546,154
76$3,322,455$1,219,621$864,792$2,727,626
77$3,608,186$1,226,224$840,603$2,926,228
78$3,921,388$1,231,476$813,930$3,143,705
79$4,264,809$1,235,257$784,637$3,381,978
80$4,641,477$1,237,443$752,580$3,643,165
81$5,054,728$1,237,898$717,611$3,929,602
82$5,508,235$1,236,479$679,576$4,243,867
83$6,006,044$1,233,036$638,311$4,588,798
84$6,552,613$1,227,406$593,646$4,967,530
85$7,152,851$1,219,421$545,405$5,383,513
86$7,812,167$1,208,898$493,401$5,840,557
87$8,536,520$1,195,646$437,442$6,342,860
88$9,332,473$1,179,461$377,325$6,895,048
89$10,207,259$1,160,128$312,839$7,502,227
90$11,168,843$1,137,418$243,762$8,170,021
91$12,226,003$1,111,089$169,866$8,904,633
92$13,388,408$1,080,885$90,909$9,712,902
93$14,666,711$1,046,535$6,641$10,602,365
94$16,072,652$1,007,751$0$11,581,333
95$17,619,161$964,230$0$12,682,964
96$19,320,488$915,649$0$13,896,963
97$21,192,332$861,670$0$15,232,631
98$23,251,990$801,932$0$16,702,329
99$25,518,522$736,056$0$18,319,676
100$28,012,927$663,638$0$20,099,679