Can I retire at age 61 with 971,000?

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 $971,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$80,184$79,470$78,773$78,093$77,429$75,588
2 years$39,695$38,956$38,239$37,545$36,871$35,027
3 years$26,201$25,458$24,743$24,055$23,392$21,603
4 years$19,455$18,714$18,007$17,330$16,684$14,963
5 years$15,408$14,672$13,974$13,311$12,683$11,035
6 years$12,711$11,981$11,293$10,645$10,035$8,462
7 years$10,786$10,062$9,385$8,752$8,161$6,663
8 years$9,342$8,625$7,959$7,342$6,771$5,347
9 years$8,220$7,509$6,855$6,254$5,702$4,352
10 years$7,323$6,619$5,976$5,391$4,858$3,580
11 years$6,589$5,893$5,261$4,692$4,178$2,970
12 years$5,979$5,289$4,669$4,115$3,621$2,481
13 years$5,462$4,780$4,172$3,633$3,157$2,083
14 years$5,020$4,345$3,748$3,225$2,768$1,757
15 years$4,637$3,969$3,384$2,876$2,437$1,488
16 years$4,302$3,641$3,068$2,575$2,154$1,263
17 years$4,007$3,354$2,792$2,314$1,910$1,075
18 years$3,745$3,099$2,549$2,085$1,698$917
19 years$3,511$2,872$2,333$1,884$1,513$784
20 years$3,300$2,669$2,141$1,707$1,352$671
21 years$3,110$2,486$1,970$1,549$1,210$575
22 years$2,937$2,320$1,815$1,408$1,084$493
23 years$2,780$2,170$1,676$1,282$973$424
24 years$2,636$2,033$1,550$1,170$875$364
25 years$2,503$1,908$1,436$1,068$787$313
26 years$2,381$1,793$1,332$977$709$269
27 years$2,269$1,688$1,237$894$639$232
28 years$2,164$1,590$1,150$819$577$200
29 years$2,067$1,500$1,070$751$521$172
30 years$1,977$1,417$996$689$471$148
31 years$1,892$1,339$929$633$426$128
32 years$1,813$1,267$867$582$385$110
33 years$1,739$1,200$809$535$348$95
34 years$1,669$1,138$756$492$315$82
35 years$1,604$1,079$707$453$286$71
36 years$1,542$1,024$661$417$259$61
37 years$1,484$973$619$385$235$53
38 years$1,429$924$580$354$213$45
39 years$1,377$879$543$327$193$39
40 years$1,328$836$509$301$175$34
41 years$1,281$796$477$278$159$29
42 years$1,236$758$448$257$144$25
43 years$1,194$722$420$237$131$22
44 years$1,154$689$394$219$119$19
45 years$1,115$657$370$202$108$16
46 years$1,079$626$348$187$98$14
47 years$1,044$598$327$172$89$12
48 years$1,010$571$307$159$81$10
49 years$979$545$289$147$73$9
50 years$948$521$271$136$67$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $971,000, adding $3,737 every year, while hoping to spend $36,883 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: 47/25/28 Blend
60$971,000$971,000$971,000$971,000
61$1,073,897$1,022,434$1,007,383$1,115,596
62$1,144,191$1,033,290$1,001,887$1,156,259
63$1,220,419$1,043,442$994,971$1,196,487
64$1,303,147$1,052,816$986,548$1,239,445
65$1,392,999$1,061,334$976,528$1,285,408
66$1,490,658$1,068,913$964,815$1,334,683
67$1,596,879$1,075,464$951,310$1,387,606
68$1,712,491$1,080,892$935,910$1,444,554
69$1,838,407$1,085,097$918,505$1,505,940
70$1,975,630$1,087,973$898,980$1,572,225
71$2,125,266$1,089,405$877,217$1,643,915
72$2,288,531$1,089,273$853,092$1,721,574
73$2,466,762$1,087,449$826,472$1,805,823
74$2,661,435$1,083,797$797,221$1,897,350
75$2,874,171$1,078,172$765,198$1,996,918
76$3,106,756$1,070,422$730,251$2,105,366
77$3,361,156$1,060,384$692,226$2,223,626
78$3,639,536$1,047,885$650,958$2,352,728
79$3,944,281$1,032,744$606,277$2,493,808
80$4,278,016$1,014,766$558,005$2,648,125
81$4,643,631$993,747$505,956$2,817,068
82$5,044,310$969,470$449,935$3,002,172
83$5,483,561$941,705$389,738$3,205,136
84$5,965,243$910,208$325,154$3,427,835
85$6,493,612$874,722$255,961$3,672,339
86$7,073,352$834,975$181,926$3,940,937
87$7,709,623$790,677$102,810$4,236,156
88$8,408,109$741,525$18,359$4,560,789
89$9,175,073$687,196$0$4,917,916
90$10,017,410$627,349$0$5,332,383
91$10,942,720$561,624$0$5,793,754
92$11,959,374$489,639$0$6,300,774
93$13,076,591$410,993$0$6,858,111
94$14,304,532$325,260$0$7,470,917
95$15,654,387$231,991$0$8,144,868
96$17,138,488$130,712$0$8,886,227
97$18,770,419$20,921$0$9,701,896
98$20,565,146$0$0$10,599,490
99$22,539,160$0$0$11,614,335
100$24,710,630$0$0$12,737,149