Can I retire at age 61 with 974,000?

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 $974,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$80,432$79,716$79,017$78,334$77,668$76,444
2 years$39,818$39,076$38,358$37,661$36,985$35,755
3 years$26,282$25,537$24,820$24,130$23,465$22,267
4 years$19,515$18,772$18,063$17,384$16,735$15,579
5 years$15,456$14,718$14,017$13,353$12,722$11,611
6 years$12,751$12,018$11,328$10,678$10,066$9,001
7 years$10,819$10,093$9,414$8,779$8,187$7,168
8 years$9,371$8,651$7,984$7,365$6,792$5,819
9 years$8,246$7,533$6,876$6,273$5,720$4,793
10 years$7,346$6,640$5,995$5,407$4,873$3,992
11 years$6,610$5,911$5,278$4,706$4,191$3,354
12 years$5,997$5,305$4,684$4,128$3,632$2,838
13 years$5,479$4,794$4,185$3,644$3,167$2,415
14 years$5,035$4,358$3,760$3,235$2,776$2,065
15 years$4,651$3,981$3,395$2,885$2,445$1,772
16 years$4,315$3,653$3,078$2,583$2,160$1,526
17 years$4,019$3,364$2,801$2,321$1,916$1,318
18 years$3,756$3,108$2,557$2,092$1,703$1,141
19 years$3,521$2,881$2,341$1,890$1,518$990
20 years$3,310$2,677$2,148$1,712$1,356$860
21 years$3,120$2,494$1,976$1,554$1,214$748
22 years$2,946$2,328$1,821$1,413$1,088$652
23 years$2,788$2,177$1,681$1,286$976$569
24 years$2,644$2,040$1,555$1,173$878$496
25 years$2,511$1,914$1,440$1,072$790$434
26 years$2,389$1,799$1,336$980$711$379
27 years$2,276$1,693$1,240$897$641$332
28 years$2,171$1,595$1,153$822$579$290
29 years$2,073$1,505$1,073$753$523$254
30 years$1,983$1,421$999$691$472$223
31 years$1,898$1,344$932$635$427$195
32 years$1,819$1,271$869$584$386$171
33 years$1,744$1,204$812$537$349$150
34 years$1,674$1,141$758$494$316$132
35 years$1,609$1,082$709$455$287$116
36 years$1,547$1,027$663$419$260$101
37 years$1,489$976$621$386$235$89
38 years$1,433$927$581$356$213$78
39 years$1,381$882$545$328$193$69
40 years$1,332$839$511$302$175$60
41 years$1,285$799$479$279$159$53
42 years$1,240$761$449$257$144$46
43 years$1,198$725$421$238$131$41
44 years$1,157$691$396$219$119$36
45 years$1,119$659$371$203$108$31
46 years$1,082$628$349$187$98$28
47 years$1,047$600$328$173$89$24
48 years$1,014$572$308$160$81$21
49 years$982$547$289$148$73$19
50 years$951$522$272$137$67$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $974,000, adding $6,526 every year, while hoping to spend $23,287 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: 62/9/29 Blend
60$974,000$974,000$974,000$974,000
61$1,080,080$1,028,458$1,013,361$1,138,249
62$1,165,470$1,054,075$1,022,531$1,204,196
63$1,258,791$1,080,167$1,031,228$1,273,087
64$1,360,825$1,106,732$1,039,411$1,347,823
65$1,472,436$1,133,769$1,047,039$1,428,983
66$1,594,574$1,161,274$1,054,065$1,517,202
67$1,728,288$1,189,243$1,060,443$1,613,181
68$1,874,728$1,217,671$1,066,123$1,717,692
69$2,035,166$1,246,552$1,071,053$1,831,586
70$2,210,998$1,275,879$1,075,179$1,955,802
71$2,403,765$1,305,642$1,078,442$2,091,374
72$2,615,163$1,335,832$1,080,784$2,239,441
73$2,847,058$1,366,437$1,082,139$2,401,259
74$3,101,510$1,397,444$1,082,442$2,578,213
75$3,380,783$1,428,837$1,081,623$2,771,830
76$3,687,373$1,460,601$1,079,608$2,983,790
77$4,024,031$1,492,717$1,076,321$3,215,948
78$4,393,786$1,525,163$1,071,681$3,470,348
79$4,799,973$1,557,917$1,065,603$3,749,242
80$5,246,270$1,590,954$1,058,000$4,055,112
81$5,736,724$1,624,246$1,048,778$4,390,694
82$6,275,798$1,657,762$1,037,840$4,759,006
83$6,868,406$1,691,469$1,025,085$5,163,371
84$7,519,963$1,725,331$1,010,405$5,607,454
85$8,236,435$1,759,308$993,689$6,095,294
86$9,024,394$1,793,357$974,820$6,631,342
87$9,891,083$1,827,431$953,677$7,220,505
88$10,844,478$1,861,481$930,130$7,868,191
89$11,893,372$1,895,450$904,047$8,580,362
90$13,047,450$1,929,281$875,286$9,363,588
91$14,317,384$1,962,910$843,703$10,225,110
92$15,714,933$1,996,268$809,142$11,172,911
93$17,253,053$2,029,282$771,445$12,215,787
94$18,946,019$2,061,872$730,443$13,363,436
95$20,809,563$2,093,953$685,963$14,626,543
96$22,861,016$2,125,435$637,820$16,016,889
97$25,119,477$2,156,218$585,825$17,547,456
98$27,605,990$2,186,199$529,776$19,232,552
99$30,343,743$2,215,266$469,466$21,087,948
100$33,358,289$2,243,298$404,677$23,131,024