Can I retire at age 61 with 969,000?

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 $969,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$80,019$79,306$78,611$77,932$77,269$75,067
2 years$39,613$38,876$38,161$37,467$36,795$34,593
3 years$26,147$25,406$24,692$24,006$23,344$21,212
4 years$19,415$18,676$17,970$17,295$16,649$14,603
5 years$15,376$14,642$13,945$13,284$12,657$10,702
6 years$12,685$11,956$11,270$10,623$10,015$8,153
7 years$10,764$10,041$9,365$8,734$8,145$6,377
8 years$9,323$8,607$7,943$7,327$6,757$5,081
9 years$8,203$7,494$6,841$6,241$5,690$4,105
10 years$7,308$6,606$5,964$5,380$4,848$3,352
11 years$6,576$5,880$5,251$4,682$4,170$2,760
12 years$5,966$5,278$4,660$4,107$3,613$2,287
13 years$5,451$4,770$4,163$3,626$3,151$1,905
14 years$5,009$4,336$3,741$3,218$2,762$1,594
15 years$4,627$3,961$3,377$2,870$2,432$1,338
16 years$4,293$3,634$3,062$2,570$2,149$1,126
17 years$3,999$3,347$2,786$2,309$1,906$950
18 years$3,737$3,092$2,544$2,081$1,695$804
19 years$3,503$2,866$2,329$1,880$1,510$681
20 years$3,293$2,663$2,137$1,703$1,349$577
21 years$3,104$2,481$1,966$1,546$1,207$490
22 years$2,931$2,316$1,812$1,405$1,082$417
23 years$2,774$2,166$1,673$1,280$971$354
24 years$2,630$2,029$1,547$1,167$873$302
25 years$2,498$1,904$1,433$1,066$786$257
26 years$2,377$1,790$1,329$975$708$219
27 years$2,264$1,684$1,234$892$638$187
28 years$2,160$1,587$1,147$817$576$159
29 years$2,063$1,497$1,068$750$520$136
30 years$1,972$1,414$994$688$470$116
31 years$1,888$1,337$927$632$425$99
32 years$1,809$1,265$865$581$384$84
33 years$1,735$1,198$808$534$348$72
34 years$1,666$1,135$755$491$315$62
35 years$1,601$1,077$705$452$285$53
36 years$1,539$1,022$660$417$258$45
37 years$1,481$971$618$384$234$38
38 years$1,426$922$578$354$212$33
39 years$1,374$877$542$326$192$28
40 years$1,325$835$508$301$175$24
41 years$1,278$794$476$278$158$20
42 years$1,234$757$447$256$144$17
43 years$1,191$721$419$236$130$15
44 years$1,151$687$394$218$118$13
45 years$1,113$655$370$202$107$11
46 years$1,077$625$347$186$98$9
47 years$1,042$597$326$172$89$8
48 years$1,008$569$306$159$80$7
49 years$977$544$288$147$73$6
50 years$946$519$271$136$66$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $969,000, adding $2,986 every year, while hoping to spend $35,167 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: 56/29/15 Blend
60$969,000$969,000$969,000$969,000
61$1,070,918$1,019,561$1,004,542$1,126,539
62$1,142,734$1,032,102$1,000,776$1,177,182
63$1,220,697$1,044,079$995,706$1,228,242
64$1,305,396$1,055,427$989,251$1,283,056
65$1,397,481$1,066,077$981,325$1,341,990
66$1,497,664$1,075,955$971,839$1,405,449
67$1,606,732$1,084,983$960,702$1,473,879
68$1,725,549$1,093,077$947,816$1,547,772
69$1,855,065$1,100,148$933,078$1,627,674
70$1,996,327$1,106,101$916,381$1,714,184
71$2,150,488$1,110,835$897,615$1,807,966
72$2,318,815$1,114,243$876,662$1,909,751
73$2,502,704$1,116,211$853,400$2,020,348
74$2,703,691$1,116,617$827,701$2,140,648
75$2,923,470$1,115,333$799,431$2,271,635
76$3,163,901$1,112,223$768,450$2,414,395
77$3,427,038$1,107,140$734,611$2,570,129
78$3,715,137$1,099,931$697,762$2,740,159
79$4,030,687$1,090,434$657,743$2,925,945
80$4,376,425$1,078,473$614,386$3,129,100
81$4,755,370$1,063,868$567,517$3,351,402
82$5,170,842$1,046,421$516,953$3,594,815
83$5,626,500$1,025,928$462,503$3,861,503
84$6,126,375$1,002,171$403,969$4,153,856
85$6,674,905$974,917$341,142$4,474,513
86$7,276,980$943,923$273,805$4,826,381
87$7,937,985$908,928$201,731$5,212,671
88$8,663,854$869,660$124,683$5,636,925
89$9,461,122$825,828$42,414$6,103,048
90$10,336,987$777,125$0$6,615,351
91$11,299,383$723,226$0$7,185,852
92$12,357,045$663,790$0$7,820,247
93$13,519,600$598,452$0$8,517,572
94$14,797,653$526,830$0$9,284,253
95$16,202,888$448,519$0$10,127,379
96$17,748,177$363,091$0$11,054,761
97$19,447,702$270,093$0$12,075,015
98$21,317,088$169,049$0$13,197,638
99$23,373,553$59,453$0$14,433,100
100$25,636,063$0$0$15,792,945