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%14.9%
1 years$80,432$79,716$79,017$78,334$77,668$76,100
2 years$39,818$39,076$38,358$37,661$36,985$35,412
3 years$26,282$25,537$24,820$24,130$23,465$21,936
4 years$19,515$18,772$18,063$17,384$16,735$15,262
5 years$15,456$14,718$14,017$13,353$12,722$11,309
6 years$12,751$12,018$11,328$10,678$10,066$8,715
7 years$10,819$10,093$9,414$8,779$8,187$6,898
8 years$9,371$8,651$7,984$7,365$6,792$5,564
9 years$8,246$7,533$6,876$6,273$5,720$4,553
10 years$7,346$6,640$5,995$5,407$4,873$3,766
11 years$6,610$5,911$5,278$4,706$4,191$3,143
12 years$5,997$5,305$4,684$4,128$3,632$2,640
13 years$5,479$4,794$4,185$3,644$3,167$2,230
14 years$5,035$4,358$3,760$3,235$2,776$1,893
15 years$4,651$3,981$3,395$2,885$2,445$1,613
16 years$4,315$3,653$3,078$2,583$2,160$1,378
17 years$4,019$3,364$2,801$2,321$1,916$1,181
18 years$3,756$3,108$2,557$2,092$1,703$1,014
19 years$3,521$2,881$2,341$1,890$1,518$872
20 years$3,310$2,677$2,148$1,712$1,356$752
21 years$3,120$2,494$1,976$1,554$1,214$649
22 years$2,946$2,328$1,821$1,413$1,088$560
23 years$2,788$2,177$1,681$1,286$976$485
24 years$2,644$2,040$1,555$1,173$878$419
25 years$2,511$1,914$1,440$1,072$790$363
26 years$2,389$1,799$1,336$980$711$315
27 years$2,276$1,693$1,240$897$641$273
28 years$2,171$1,595$1,153$822$579$237
29 years$2,073$1,505$1,073$753$523$206
30 years$1,983$1,421$999$691$472$179
31 years$1,898$1,344$932$635$427$155
32 years$1,819$1,271$869$584$386$135
33 years$1,744$1,204$812$537$349$117
34 years$1,674$1,141$758$494$316$102
35 years$1,609$1,082$709$455$287$88
36 years$1,547$1,027$663$419$260$77
37 years$1,489$976$621$386$235$67
38 years$1,433$927$581$356$213$58
39 years$1,381$882$545$328$193$51
40 years$1,332$839$511$302$175$44
41 years$1,285$799$479$279$159$38
42 years$1,240$761$449$257$144$33
43 years$1,198$725$421$238$131$29
44 years$1,157$691$396$219$119$25
45 years$1,119$659$371$203$108$22
46 years$1,082$628$349$187$98$19
47 years$1,047$600$328$173$89$17
48 years$1,014$572$308$160$81$14
49 years$982$547$289$148$73$13
50 years$951$522$272$137$67$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $974,000, adding $6,710 every year, while hoping to spend $26,496 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: 64/19/17 Blend
60$974,000$974,000$974,000$974,000
61$1,080,269$1,028,647$1,013,550$1,144,432
62$1,162,265$1,050,860$1,019,313$1,210,521
63$1,251,737$1,073,272$1,024,380$1,279,052
64$1,349,418$1,095,867$1,028,701$1,353,281
65$1,456,119$1,118,624$1,032,222$1,433,765
66$1,572,728$1,141,521$1,034,887$1,521,117
67$1,700,225$1,164,536$1,036,635$1,616,013
68$1,839,691$1,187,640$1,037,405$1,719,199
69$1,992,313$1,210,808$1,037,131$1,831,495
70$2,159,398$1,234,007$1,035,745$1,953,806
71$2,342,388$1,257,205$1,033,173$2,087,128
72$2,542,869$1,280,365$1,029,342$2,232,561
73$2,762,589$1,303,450$1,024,172$2,391,314
74$3,003,470$1,326,416$1,017,579$2,564,723
75$3,267,633$1,349,220$1,009,477$2,754,257
76$3,557,412$1,371,812$999,775$2,961,537
77$3,875,377$1,394,140$988,376$3,188,349
78$4,224,361$1,416,148$975,182$3,436,662
79$4,607,482$1,437,776$960,087$3,708,645
80$5,028,177$1,458,959$942,982$4,006,691
81$5,490,231$1,479,628$923,752$4,333,434
82$5,997,814$1,499,709$902,277$4,691,779
83$6,555,519$1,519,122$878,431$5,084,930
84$7,168,407$1,537,784$852,084$5,516,414
85$7,842,052$1,555,603$823,096$5,990,123
86$8,582,597$1,572,483$791,325$6,510,342
87$9,396,808$1,588,321$756,621$7,081,798
88$10,292,140$1,603,007$718,826$7,709,699
89$11,276,807$1,616,423$677,775$8,399,787
90$12,359,859$1,628,445$633,298$9,158,388
91$13,551,266$1,638,940$585,215$9,992,477
92$14,862,013$1,647,766$533,337$10,909,740
93$16,304,205$1,654,773$477,471$11,918,651
94$17,891,178$1,659,801$417,410$13,028,548
95$19,637,626$1,662,679$352,941$14,249,722
96$21,559,740$1,663,228$283,842$15,593,518
97$23,675,362$1,661,253$209,878$17,072,440
98$26,004,147$1,656,553$130,807$18,700,267
99$28,567,756$1,648,911$46,376$20,492,190
100$31,390,056$1,638,096$0$22,464,948