Can I retire at age 61 with 972,000?

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 $972,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$80,267$79,552$78,854$78,173$77,509$75,482
2 years$39,736$38,996$38,279$37,583$36,909$34,881
3 years$26,228$25,484$24,769$24,080$23,417$21,450
4 years$19,475$18,734$18,025$17,348$16,701$14,812
5 years$15,424$14,687$13,988$13,325$12,696$10,889
6 years$12,724$11,993$11,305$10,656$10,046$8,323
7 years$10,797$10,072$9,394$8,761$8,170$6,532
8 years$9,352$8,634$7,967$7,349$6,778$5,223
9 years$8,229$7,517$6,862$6,260$5,708$4,236
10 years$7,330$6,626$5,983$5,396$4,863$3,471
11 years$6,596$5,899$5,267$4,696$4,183$2,869
12 years$5,985$5,294$4,674$4,119$3,625$2,387
13 years$5,468$4,785$4,176$3,637$3,161$1,996
14 years$5,025$4,349$3,752$3,228$2,771$1,677
15 years$4,641$3,973$3,388$2,879$2,439$1,414
16 years$4,306$3,645$3,072$2,578$2,156$1,195
17 years$4,011$3,357$2,795$2,316$1,912$1,013
18 years$3,749$3,102$2,551$2,087$1,700$860
19 years$3,514$2,875$2,336$1,886$1,515$732
20 years$3,304$2,671$2,144$1,708$1,353$624
21 years$3,113$2,488$1,972$1,550$1,211$532
22 years$2,940$2,323$1,817$1,410$1,086$454
23 years$2,783$2,172$1,678$1,284$974$388
24 years$2,638$2,035$1,552$1,171$876$332
25 years$2,506$1,910$1,437$1,069$788$284
26 years$2,384$1,795$1,333$978$710$243
27 years$2,271$1,690$1,238$895$640$209
28 years$2,166$1,592$1,151$820$578$179
29 years$2,069$1,502$1,071$752$521$153
30 years$1,979$1,418$997$690$471$131
31 years$1,894$1,341$930$634$426$113
32 years$1,815$1,269$868$582$385$97
33 years$1,741$1,202$810$536$349$83
34 years$1,671$1,139$757$493$316$71
35 years$1,606$1,080$708$454$286$61
36 years$1,544$1,025$662$418$259$53
37 years$1,485$974$620$385$235$45
38 years$1,430$925$580$355$213$39
39 years$1,378$880$544$327$193$33
40 years$1,329$837$510$302$175$29
41 years$1,282$797$478$278$159$25
42 years$1,237$759$448$257$144$21
43 years$1,195$723$421$237$131$18
44 years$1,155$689$395$219$119$16
45 years$1,116$657$371$202$108$13
46 years$1,080$627$348$187$98$11
47 years$1,045$598$327$173$89$10
48 years$1,012$571$307$159$81$8
49 years$980$545$289$147$73$7
50 years$949$521$272$136$67$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $972,000, adding $4,040 every year, while hoping to spend $46,720 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: 63/16/21 Blend
60$972,000$972,000$972,000$972,000
61$1,075,311$1,023,795$1,008,729$1,136,979
62$1,135,283$1,024,252$992,812$1,179,501
63$1,199,807$1,023,164$974,796$1,220,328
64$1,269,296$1,020,409$954,560$1,263,845
65$1,344,208$1,015,852$931,981$1,310,320
66$1,425,041$1,009,353$906,927$1,360,047
67$1,512,348$1,000,763$879,262$1,413,355
68$1,606,730$989,924$848,840$1,470,604
69$1,708,854$976,668$815,514$1,532,196
70$1,819,449$960,816$779,125$1,598,573
71$1,939,318$942,182$739,511$1,670,227
72$2,069,344$920,563$696,500$1,747,699
73$2,210,496$895,751$649,912$1,831,589
74$2,363,844$867,520$599,561$1,922,560
75$2,530,562$835,634$545,252$2,021,347
76$2,711,941$799,842$486,780$2,128,759
77$2,909,404$759,879$423,932$2,245,693
78$3,124,514$715,464$356,485$2,373,140
79$3,358,994$666,301$284,207$2,512,195
80$3,614,738$612,077$206,854$2,664,068
81$3,893,831$552,458$124,174$2,830,097
82$4,198,569$487,096$35,901$3,011,759
83$4,531,479$415,619$0$3,210,687
84$4,895,342$337,637$0$3,441,747
85$5,293,221$252,735$0$3,703,302
86$5,728,489$160,478$0$3,989,565
87$6,204,857$60,404$0$4,303,038
88$6,726,415$0$0$4,646,476
89$7,297,665$0$0$5,031,364
90$7,923,564$0$0$5,464,795
91$8,609,574$0$0$5,939,923
92$9,361,708$0$0$6,460,923
93$10,186,589$0$0$7,032,391
94$11,091,512$0$0$7,659,391
95$12,084,514$0$0$8,347,500
96$13,174,443$0$0$9,102,863
97$14,371,051$0$0$9,932,246
98$15,685,077$0$0$10,843,104
99$17,128,351$0$0$11,843,649
100$18,713,906$0$0$12,942,928