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%16.2%
1 years$80,019$79,306$78,611$77,932$77,269$75,310
2 years$39,613$38,876$38,161$37,467$36,795$34,833
3 years$26,147$25,406$24,692$24,006$23,344$21,442
4 years$19,415$18,676$17,970$17,295$16,649$14,821
5 years$15,376$14,642$13,945$13,284$12,657$10,908
6 years$12,685$11,956$11,270$10,623$10,015$8,347
7 years$10,764$10,041$9,365$8,734$8,145$6,557
8 years$9,323$8,607$7,943$7,327$6,757$5,250
9 years$8,203$7,494$6,841$6,241$5,690$4,262
10 years$7,308$6,606$5,964$5,380$4,848$3,498
11 years$6,576$5,880$5,251$4,682$4,170$2,894
12 years$5,966$5,278$4,660$4,107$3,613$2,411
13 years$5,451$4,770$4,163$3,626$3,151$2,019
14 years$5,009$4,336$3,741$3,218$2,762$1,699
15 years$4,627$3,961$3,377$2,870$2,432$1,434
16 years$4,293$3,634$3,062$2,570$2,149$1,214
17 years$3,999$3,347$2,786$2,309$1,906$1,031
18 years$3,737$3,092$2,544$2,081$1,695$877
19 years$3,503$2,866$2,329$1,880$1,510$747
20 years$3,293$2,663$2,137$1,703$1,349$637
21 years$3,104$2,481$1,966$1,546$1,207$545
22 years$2,931$2,316$1,812$1,405$1,082$466
23 years$2,774$2,166$1,673$1,280$971$399
24 years$2,630$2,029$1,547$1,167$873$342
25 years$2,498$1,904$1,433$1,066$786$293
26 years$2,377$1,790$1,329$975$708$251
27 years$2,264$1,684$1,234$892$638$215
28 years$2,160$1,587$1,147$817$576$185
29 years$2,063$1,497$1,068$750$520$159
30 years$1,972$1,414$994$688$470$136
31 years$1,888$1,337$927$632$425$117
32 years$1,809$1,265$865$581$384$101
33 years$1,735$1,198$808$534$348$87
34 years$1,666$1,135$755$491$315$74
35 years$1,601$1,077$705$452$285$64
36 years$1,539$1,022$660$417$258$55
37 years$1,481$971$618$384$234$47
38 years$1,426$922$578$354$212$41
39 years$1,374$877$542$326$192$35
40 years$1,325$835$508$301$175$30
41 years$1,278$794$476$278$158$26
42 years$1,234$757$447$256$144$22
43 years$1,191$721$419$236$130$19
44 years$1,151$687$394$218$118$17
45 years$1,113$655$370$202$107$14
46 years$1,077$625$347$186$98$12
47 years$1,042$597$326$172$89$11
48 years$1,008$569$306$159$80$9
49 years$977$544$288$147$73$8
50 years$946$519$271$136$66$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $969,000, adding $2,340 every year, while hoping to spend $21,329 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: 73/5/22 Blend
60$969,000$969,000$969,000$969,000
61$1,070,252$1,018,895$1,003,875$1,142,463
62$1,156,723$1,046,127$1,014,811$1,218,057
63$1,251,301$1,073,978$1,025,399$1,298,069
64$1,354,787$1,102,457$1,035,603$1,385,196
65$1,468,069$1,131,571$1,045,389$1,480,143
66$1,592,120$1,161,326$1,054,719$1,583,685
67$1,728,016$1,191,731$1,063,551$1,696,679
68$1,876,938$1,222,790$1,071,845$1,820,066
69$2,040,190$1,254,510$1,079,555$1,954,885
70$2,219,204$1,286,897$1,086,636$2,102,279
71$2,415,563$1,319,954$1,093,037$2,263,507
72$2,631,004$1,353,686$1,098,708$2,439,960
73$2,867,446$1,388,096$1,103,594$2,633,166
74$3,126,999$1,423,187$1,107,639$2,844,811
75$3,411,990$1,458,960$1,110,781$3,076,753
76$3,724,980$1,495,416$1,112,959$3,331,038
77$4,068,791$1,532,554$1,114,107$3,609,923
78$4,446,533$1,570,375$1,114,155$3,915,891
79$4,861,631$1,608,874$1,113,030$4,251,683
80$5,317,857$1,648,049$1,110,656$4,620,316
81$5,819,369$1,687,893$1,106,953$5,025,115
82$6,370,746$1,728,402$1,101,838$5,469,746
83$6,977,035$1,769,566$1,095,222$5,958,248
84$7,643,794$1,811,377$1,087,014$6,495,071
85$8,377,148$1,853,821$1,077,116$7,085,120
86$9,183,845$1,896,887$1,065,428$7,733,800
87$10,071,321$1,940,558$1,051,843$8,447,068
88$11,047,767$1,984,816$1,036,251$9,231,486
89$12,122,209$2,029,643$1,018,536$10,094,290
90$13,304,593$2,075,014$998,575$11,043,452
91$14,605,877$2,120,904$976,243$12,087,755
92$16,038,134$2,167,287$951,405$13,236,882
93$17,614,669$2,214,129$923,922$14,501,502
94$19,350,141$2,261,397$893,649$15,893,374
95$21,260,703$2,309,052$860,433$17,425,454
96$23,364,152$2,357,054$824,115$19,112,022
97$25,680,101$2,405,355$784,529$20,968,817
98$28,230,161$2,453,907$741,500$23,013,179
99$31,038,143$2,502,654$694,846$25,264,221
100$34,130,287$2,551,538$644,377$27,743,006