Can I retire at age 61 with 969,000?

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 $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%13.8%
1 years$80,019$79,306$78,611$77,932$77,269$76,052
2 years$39,613$38,876$38,161$37,467$36,795$35,572
3 years$26,147$25,406$24,692$24,006$23,344$22,153
4 years$19,415$18,676$17,970$17,295$16,649$15,499
5 years$15,376$14,642$13,945$13,284$12,657$11,551
6 years$12,685$11,956$11,270$10,623$10,015$8,955
7 years$10,764$10,041$9,365$8,734$8,145$7,131
8 years$9,323$8,607$7,943$7,327$6,757$5,789
9 years$8,203$7,494$6,841$6,241$5,690$4,768
10 years$7,308$6,606$5,964$5,380$4,848$3,971
11 years$6,576$5,880$5,251$4,682$4,170$3,337
12 years$5,966$5,278$4,660$4,107$3,613$2,823
13 years$5,451$4,770$4,163$3,626$3,151$2,402
14 years$5,009$4,336$3,741$3,218$2,762$2,054
15 years$4,627$3,961$3,377$2,870$2,432$1,763
16 years$4,293$3,634$3,062$2,570$2,149$1,518
17 years$3,999$3,347$2,786$2,309$1,906$1,311
18 years$3,737$3,092$2,544$2,081$1,695$1,135
19 years$3,503$2,866$2,329$1,880$1,510$985
20 years$3,293$2,663$2,137$1,703$1,349$855
21 years$3,104$2,481$1,966$1,546$1,207$744
22 years$2,931$2,316$1,812$1,405$1,082$648
23 years$2,774$2,166$1,673$1,280$971$566
24 years$2,630$2,029$1,547$1,167$873$494
25 years$2,498$1,904$1,433$1,066$786$431
26 years$2,377$1,790$1,329$975$708$377
27 years$2,264$1,684$1,234$892$638$330
28 years$2,160$1,587$1,147$817$576$289
29 years$2,063$1,497$1,068$750$520$253
30 years$1,972$1,414$994$688$470$222
31 years$1,888$1,337$927$632$425$194
32 years$1,809$1,265$865$581$384$170
33 years$1,735$1,198$808$534$348$149
34 years$1,666$1,135$755$491$315$131
35 years$1,601$1,077$705$452$285$115
36 years$1,539$1,022$660$417$258$101
37 years$1,481$971$618$384$234$89
38 years$1,426$922$578$354$212$78
39 years$1,374$877$542$326$192$68
40 years$1,325$835$508$301$175$60
41 years$1,278$794$476$278$158$53
42 years$1,234$757$447$256$144$46
43 years$1,191$721$419$236$130$41
44 years$1,151$687$394$218$118$36
45 years$1,113$655$370$202$107$31
46 years$1,077$625$347$186$98$28
47 years$1,042$597$326$172$89$24
48 years$1,008$569$306$159$80$21
49 years$977$544$288$147$73$19
50 years$946$519$271$136$66$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $969,000, adding $2,104 every year, while hoping to spend $56,868 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: 45/46/9 Blend
60$969,000$969,000$969,000$969,000
61$1,070,008$1,018,651$1,003,632$1,115,355
62$1,118,642$1,008,058$976,746$1,136,339
63$1,170,330$995,040$947,054$1,153,063
64$1,225,325$979,418$914,401$1,169,900
65$1,283,901$961,002$878,627$1,186,879
66$1,346,360$939,592$839,562$1,204,037
67$1,413,032$914,976$797,031$1,221,420
68$1,484,279$886,927$750,849$1,239,080
69$1,560,498$855,209$700,824$1,257,082
70$1,642,122$819,568$646,756$1,275,502
71$1,729,630$779,738$588,433$1,294,427
72$1,823,544$735,436$525,637$1,313,961
73$1,924,438$686,365$458,139$1,334,223
74$2,032,942$632,209$385,698$1,355,351
75$2,149,748$572,633$308,065$1,377,504
76$2,275,617$507,286$224,979$1,400,865
77$2,411,381$435,795$136,167$1,425,642
78$2,557,958$357,765$41,345$1,452,075
79$2,716,356$272,782$0$1,480,433
80$2,887,681$180,405$0$1,516,774
81$3,073,150$80,170$0$1,560,309
82$3,274,102$0$0$1,607,492
83$3,492,006$0$0$1,673,183
84$3,728,481$0$0$1,788,608
85$3,985,305$0$0$1,914,066
86$4,264,436$0$0$2,050,527
87$4,568,026$0$0$2,199,054
88$4,898,444$0$0$2,360,822
89$5,258,296$0$0$2,537,121
90$5,650,448$0$0$2,729,370
91$6,078,059$0$0$2,939,132
92$6,544,600$0$0$3,168,128
93$7,053,896$0$0$3,418,252
94$7,610,156$0$0$3,691,588
95$8,218,011$0$0$3,990,431
96$8,882,564$0$0$4,317,309
97$9,609,430$0$0$4,675,004
98$10,404,794$0$0$5,066,580
99$11,275,463$0$0$5,495,411
100$12,228,936$0$0$5,965,211