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%14.5%
1 years$80,184$79,470$78,773$78,093$77,429$75,990
2 years$39,695$38,956$38,239$37,545$36,871$35,427
3 years$26,201$25,458$24,743$24,055$23,392$21,988
4 years$19,455$18,714$18,007$17,330$16,684$15,329
5 years$15,408$14,672$13,974$13,311$12,683$11,383
6 years$12,711$11,981$11,293$10,645$10,035$8,791
7 years$10,786$10,062$9,385$8,752$8,161$6,973
8 years$9,342$8,625$7,959$7,342$6,771$5,638
9 years$8,220$7,509$6,855$6,254$5,702$4,625
10 years$7,323$6,619$5,976$5,391$4,858$3,835
11 years$6,589$5,893$5,261$4,692$4,178$3,208
12 years$5,979$5,289$4,669$4,115$3,621$2,702
13 years$5,462$4,780$4,172$3,633$3,157$2,289
14 years$5,020$4,345$3,748$3,225$2,768$1,948
15 years$4,637$3,969$3,384$2,876$2,437$1,664
16 years$4,302$3,641$3,068$2,575$2,154$1,426
17 years$4,007$3,354$2,792$2,314$1,910$1,225
18 years$3,745$3,099$2,549$2,085$1,698$1,055
19 years$3,511$2,872$2,333$1,884$1,513$911
20 years$3,300$2,669$2,141$1,707$1,352$787
21 years$3,110$2,486$1,970$1,549$1,210$681
22 years$2,937$2,320$1,815$1,408$1,084$590
23 years$2,780$2,170$1,676$1,282$973$512
24 years$2,636$2,033$1,550$1,170$875$445
25 years$2,503$1,908$1,436$1,068$787$386
26 years$2,381$1,793$1,332$977$709$336
27 years$2,269$1,688$1,237$894$639$292
28 years$2,164$1,590$1,150$819$577$254
29 years$2,067$1,500$1,070$751$521$222
30 years$1,977$1,417$996$689$471$193
31 years$1,892$1,339$929$633$426$168
32 years$1,813$1,267$867$582$385$147
33 years$1,739$1,200$809$535$348$128
34 years$1,669$1,138$756$492$315$111
35 years$1,604$1,079$707$453$286$97
36 years$1,542$1,024$661$417$259$85
37 years$1,484$973$619$385$235$74
38 years$1,429$924$580$354$213$65
39 years$1,377$879$543$327$193$56
40 years$1,328$836$509$301$175$49
41 years$1,281$796$477$278$159$43
42 years$1,236$758$448$257$144$37
43 years$1,194$722$420$237$131$33
44 years$1,154$689$394$219$119$29
45 years$1,115$657$370$202$108$25
46 years$1,079$626$348$187$98$22
47 years$1,044$598$327$172$89$19
48 years$1,010$571$307$159$81$17
49 years$979$545$289$147$73$14
50 years$948$521$271$136$67$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $971,000, adding $3,536 every year, while hoping to spend $25,958 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: 58/19/23 Blend
60$971,000$971,000$971,000$971,000
61$1,073,689$1,022,226$1,007,176$1,129,132
62$1,155,587$1,044,696$1,013,297$1,189,793
63$1,244,967$1,067,397$1,018,754$1,252,809
64$1,342,567$1,090,313$1,023,495$1,320,954
65$1,449,197$1,113,426$1,027,470$1,394,730
66$1,565,748$1,136,717$1,030,623$1,474,689
67$1,693,203$1,160,165$1,032,897$1,561,441
68$1,832,641$1,183,745$1,034,231$1,655,659
69$1,985,255$1,207,432$1,034,562$1,758,084
70$2,152,354$1,231,200$1,033,823$1,869,531
71$2,335,383$1,255,017$1,031,945$1,990,900
72$2,535,930$1,278,851$1,028,853$2,123,185
73$2,755,746$1,302,666$1,024,471$2,267,479
74$2,996,761$1,326,425$1,018,719$2,424,986
75$3,261,096$1,350,086$1,011,512$2,597,038
76$3,551,091$1,373,604$1,002,762$2,785,098
77$3,869,323$1,396,931$992,375$2,990,782
78$4,218,630$1,420,016$980,255$3,215,870
79$4,602,136$1,442,803$966,300$3,462,325
80$5,023,287$1,465,233$950,403$3,732,312
81$5,485,874$1,487,241$932,453$4,028,215
82$5,994,077$1,508,759$912,334$4,352,663
83$6,552,498$1,529,715$889,923$4,708,557
84$7,166,211$1,550,028$865,093$5,099,091
85$7,840,800$1,569,615$837,710$5,527,787
86$8,582,422$1,588,387$807,633$5,998,530
87$9,397,858$1,606,247$774,718$6,515,599
88$10,294,580$1,623,093$738,811$7,083,714
89$11,280,818$1,638,816$699,753$7,708,076
90$12,365,643$1,653,299$657,376$8,394,419
91$13,559,047$1,666,419$611,506$9,149,064
92$14,872,039$1,678,043$561,961$9,978,979
93$16,316,751$1,688,031$508,551$10,891,844
94$17,906,548$1,696,233$451,075$11,896,124
95$19,656,157$1,702,489$389,328$13,001,152
96$21,581,805$1,706,631$323,090$14,217,214
97$23,701,372$1,708,479$252,136$15,555,649
98$26,034,558$1,707,841$176,230$17,028,954
99$28,603,073$1,704,515$95,123$18,650,906
100$31,430,835$1,698,285$8,558$20,436,689