Can I retire at age 61 with 975,000?

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 $975,000?

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$80,515$79,797$79,098$78,415$77,748$76,523
2 years$39,859$39,116$38,397$37,699$37,023$35,792
3 years$26,309$25,563$24,845$24,154$23,489$22,290
4 years$19,535$18,791$18,081$17,402$16,752$15,595
5 years$15,472$14,733$14,032$13,366$12,735$11,623
6 years$12,764$12,030$11,340$10,689$10,077$9,011
7 years$10,830$10,103$9,423$8,788$8,195$7,175
8 years$9,381$8,660$7,992$7,372$6,799$5,825
9 years$8,254$7,540$6,883$6,279$5,725$4,798
10 years$7,353$6,646$6,001$5,413$4,878$3,996
11 years$6,617$5,917$5,283$4,711$4,196$3,357
12 years$6,003$5,311$4,689$4,132$3,636$2,841
13 years$5,485$4,799$4,189$3,648$3,170$2,417
14 years$5,040$4,362$3,764$3,238$2,779$2,067
15 years$4,656$3,985$3,398$2,888$2,447$1,774
16 years$4,320$3,656$3,081$2,586$2,163$1,528
17 years$4,023$3,367$2,804$2,323$1,918$1,319
18 years$3,760$3,112$2,559$2,094$1,705$1,142
19 years$3,525$2,884$2,343$1,892$1,520$991
20 years$3,314$2,680$2,150$1,714$1,357$861
21 years$3,123$2,496$1,978$1,555$1,215$749
22 years$2,949$2,330$1,823$1,414$1,089$652
23 years$2,791$2,179$1,683$1,288$977$569
24 years$2,647$2,042$1,557$1,174$879$497
25 years$2,514$1,916$1,442$1,073$791$434
26 years$2,391$1,801$1,337$981$712$380
27 years$2,278$1,695$1,242$898$642$332
28 years$2,173$1,597$1,154$822$579$291
29 years$2,076$1,507$1,074$754$523$255
30 years$1,985$1,423$1,000$692$473$223
31 years$1,900$1,345$933$636$427$196
32 years$1,820$1,273$870$584$387$171
33 years$1,746$1,205$813$537$350$150
34 years$1,676$1,142$759$494$317$132
35 years$1,610$1,083$710$455$287$116
36 years$1,549$1,028$664$419$260$102
37 years$1,490$977$622$386$236$89
38 years$1,435$928$582$356$214$78
39 years$1,383$883$545$328$194$69
40 years$1,333$840$511$303$176$60
41 years$1,286$799$479$279$159$53
42 years$1,241$761$450$258$145$47
43 years$1,199$725$422$238$131$41
44 years$1,158$691$396$220$119$36
45 years$1,120$659$372$203$108$32
46 years$1,083$629$349$187$98$28
47 years$1,048$600$328$173$89$24
48 years$1,015$573$308$160$81$21
49 years$983$547$290$148$74$19
50 years$952$523$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 $975,000, adding $4,215 every year, while hoping to spend $30,244 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: 72/14/14 Blend
60$975,000$975,000$975,000$975,000
61$1,078,798$1,027,123$1,012,010$1,152,863
62$1,156,656$1,045,272$1,013,733$1,220,658
63$1,241,442$1,063,298$1,014,500$1,290,774
64$1,333,830$1,081,161$1,014,247$1,366,755
65$1,434,564$1,098,820$1,012,908$1,449,172
66$1,544,459$1,116,233$1,010,410$1,538,658
67$1,664,417$1,133,351$1,006,682$1,635,910
68$1,795,427$1,150,125$1,001,645$1,741,693
69$1,938,579$1,166,499$995,218$1,856,854
70$2,095,072$1,182,416$987,317$1,982,324
71$2,266,229$1,197,814$977,852$2,119,129
72$2,453,505$1,212,627$966,729$2,268,400
73$2,658,499$1,226,783$953,852$2,431,385
74$2,882,978$1,240,207$939,118$2,609,456
75$3,128,883$1,252,818$922,419$2,804,128
76$3,398,353$1,264,530$903,644$3,017,068
77$3,693,744$1,275,251$882,676$3,250,117
78$4,017,651$1,284,884$859,390$3,505,300
79$4,372,931$1,293,323$833,660$3,784,852
80$4,762,733$1,300,459$805,350$4,091,234
81$5,190,523$1,306,173$774,321$4,427,160
82$5,660,121$1,310,339$740,425$4,795,620
83$6,175,732$1,312,825$703,508$5,199,911
84$6,741,992$1,313,488$663,411$5,643,665
85$7,364,005$1,312,179$619,964$6,130,886
86$8,047,394$1,308,736$572,994$6,665,989
87$8,798,355$1,302,992$522,317$7,253,837
88$9,623,714$1,294,764$467,740$7,899,791
89$10,530,988$1,283,864$409,066$8,609,762
90$11,528,463$1,270,087$346,083$9,390,261
91$12,625,265$1,253,220$278,575$10,248,468
92$13,831,448$1,233,034$206,314$11,192,294
93$15,158,093$1,209,289$129,062$12,230,460
94$16,617,403$1,181,730$46,571$13,372,578
95$18,222,829$1,150,085$0$14,629,241
96$19,989,188$1,114,069$0$16,018,319
97$21,932,805$1,073,379$0$17,554,313
98$24,071,670$1,027,693$0$19,244,486
99$26,425,604$976,673$0$21,104,513
100$29,016,445$919,960$0$23,151,670