Can I retire at age 61 with 973,000?

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 $973,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$80,349$79,634$78,935$78,254$77,588$74,628
2 years$39,777$39,036$38,318$37,622$36,947$33,999
3 years$26,255$25,511$24,794$24,105$23,441$20,598
4 years$19,495$18,753$18,044$17,366$16,718$14,003
5 years$15,440$14,703$14,003$13,339$12,709$10,128
6 years$12,737$12,006$11,316$10,667$10,056$7,611
7 years$10,808$10,082$9,404$8,770$8,178$5,868
8 years$9,361$8,642$7,975$7,357$6,785$4,607
9 years$8,237$7,525$6,869$6,267$5,714$3,666
10 years$7,338$6,633$5,989$5,402$4,868$2,947
11 years$6,603$5,905$5,272$4,701$4,187$2,387
12 years$5,991$5,300$4,679$4,124$3,628$1,945
13 years$5,473$4,789$4,180$3,641$3,164$1,593
14 years$5,030$4,353$3,756$3,232$2,773$1,310
15 years$4,646$3,977$3,391$2,882$2,442$1,080
16 years$4,311$3,649$3,075$2,581$2,158$893
17 years$4,015$3,360$2,798$2,319$1,914$740
18 years$3,752$3,105$2,554$2,090$1,702$614
19 years$3,518$2,878$2,338$1,888$1,517$510
20 years$3,307$2,674$2,146$1,710$1,355$425
21 years$3,116$2,491$1,974$1,552$1,212$354
22 years$2,943$2,325$1,819$1,411$1,087$295
23 years$2,786$2,175$1,680$1,285$975$246
24 years$2,641$2,038$1,553$1,172$877$205
25 years$2,509$1,912$1,439$1,070$789$171
26 years$2,386$1,797$1,334$979$711$143
27 years$2,273$1,691$1,239$896$641$120
28 years$2,169$1,594$1,152$821$578$100
29 years$2,071$1,503$1,072$753$522$84
30 years$1,981$1,420$998$691$472$70
31 years$1,896$1,342$931$634$426$58
32 years$1,817$1,270$868$583$386$49
33 years$1,743$1,203$811$536$349$41
34 years$1,673$1,140$758$493$316$34
35 years$1,607$1,081$708$454$286$29
36 years$1,545$1,026$663$418$259$24
37 years$1,487$975$620$385$235$20
38 years$1,432$926$581$355$213$17
39 years$1,380$881$544$328$193$14
40 years$1,330$838$510$302$175$12
41 years$1,283$798$478$279$159$10
42 years$1,239$760$449$257$144$8
43 years$1,196$724$421$237$131$7
44 years$1,156$690$395$219$119$6
45 years$1,118$658$371$202$108$5
46 years$1,081$628$348$187$98$4
47 years$1,046$599$327$173$89$3
48 years$1,013$572$308$160$81$3
49 years$981$546$289$148$73$2
50 years$950$522$272$136$67$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $973,000, adding $4,305 every year, while hoping to spend $23,745 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: 65/28/7 Blend
60$973,000$973,000$973,000$973,000
61$1,076,687$1,025,118$1,010,036$1,145,033
62$1,161,244$1,050,084$1,018,608$1,216,002
63$1,253,631$1,075,478$1,026,671$1,290,286
64$1,354,620$1,101,295$1,034,183$1,370,819
65$1,465,063$1,127,530$1,041,100$1,458,205
66$1,585,898$1,154,178$1,047,376$1,553,112
67$1,718,157$1,181,230$1,052,960$1,656,273
68$1,862,978$1,208,679$1,057,803$1,768,497
69$2,021,611$1,236,514$1,061,849$1,890,674
70$2,195,436$1,264,724$1,065,042$2,023,783
71$2,385,972$1,293,296$1,067,322$2,168,905
72$2,594,890$1,322,217$1,068,626$2,327,228
73$2,824,032$1,351,469$1,068,889$2,500,064
74$3,075,428$1,381,035$1,068,041$2,688,853
75$3,351,311$1,410,896$1,066,010$2,895,187
76$3,654,144$1,441,028$1,062,720$3,120,817
77$3,986,636$1,471,409$1,058,091$3,367,671
78$4,351,776$1,502,011$1,052,040$3,637,876
79$4,752,853$1,532,805$1,044,479$3,933,772
80$5,193,491$1,563,760$1,035,316$4,257,942
81$5,677,684$1,594,840$1,024,456$4,613,227
82$6,209,830$1,626,009$1,011,797$5,002,760
83$6,794,774$1,657,226$997,234$5,429,994
84$7,437,857$1,688,446$980,657$5,898,730
85$8,144,960$1,719,621$961,950$6,413,161
86$8,922,563$1,750,699$940,993$6,977,904
87$9,777,806$1,781,625$917,658$7,598,048
88$10,718,556$1,812,339$891,813$8,279,201
89$11,753,480$1,842,775$863,320$9,027,542
90$12,892,128$1,872,863$832,034$9,849,881
91$14,145,021$1,902,530$797,804$10,753,722
92$15,523,753$1,931,694$760,470$11,747,334
93$17,041,098$1,960,269$719,868$12,839,830
94$18,711,130$1,988,162$675,824$14,041,252
95$20,549,359$2,015,276$628,157$15,362,667
96$22,572,872$2,041,503$576,680$16,816,272
97$24,800,500$2,066,731$521,193$18,415,505
98$27,252,989$2,090,839$461,491$20,175,179
99$29,953,201$2,113,698$397,358$22,111,616
100$32,926,328$2,135,170$328,570$24,242,803