Can I retire at age 61 with 976,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $976,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$80,597$79,879$79,179$78,495$77,828$76,475
2 years$39,900$39,156$38,436$37,738$37,061$35,703
3 years$26,336$25,589$24,871$24,179$23,513$22,191
4 years$19,555$18,811$18,100$17,420$16,770$15,495
5 years$15,487$14,748$14,046$13,380$12,748$11,524
6 years$12,777$12,043$11,351$10,700$10,087$8,915
7 years$10,841$10,113$9,433$8,797$8,203$7,083
8 years$9,390$8,669$8,000$7,380$6,806$5,737
9 years$8,262$7,548$6,890$6,286$5,731$4,714
10 years$7,361$6,653$6,007$5,418$4,883$3,916
11 years$6,623$5,923$5,289$4,716$4,200$3,282
12 years$6,009$5,316$4,693$4,136$3,639$2,770
13 years$5,490$4,804$4,193$3,652$3,174$2,351
14 years$5,046$4,367$3,768$3,242$2,782$2,005
15 years$4,661$3,989$3,402$2,891$2,450$1,716
16 years$4,324$3,660$3,084$2,589$2,165$1,474
17 years$4,027$3,371$2,806$2,326$1,920$1,269
18 years$3,764$3,115$2,562$2,096$1,707$1,095
19 years$3,529$2,887$2,345$1,894$1,521$947
20 years$3,317$2,682$2,152$1,715$1,359$821
21 years$3,126$2,499$1,980$1,557$1,216$712
22 years$2,952$2,332$1,825$1,415$1,090$618
23 years$2,794$2,181$1,685$1,289$978$538
24 years$2,649$2,044$1,558$1,176$879$468
25 years$2,516$1,918$1,443$1,074$791$408
26 years$2,394$1,803$1,338$982$713$355
27 years$2,280$1,697$1,243$899$643$310
28 years$2,175$1,599$1,155$823$580$270
29 years$2,078$1,508$1,075$755$524$236
30 years$1,987$1,424$1,002$693$473$206
31 years$1,902$1,346$934$636$428$180
32 years$1,822$1,274$871$585$387$157
33 years$1,748$1,206$813$538$350$137
34 years$1,678$1,143$760$495$317$120
35 years$1,612$1,085$711$456$287$105
36 years$1,550$1,029$665$420$260$92
37 years$1,492$978$622$387$236$80
38 years$1,436$929$583$356$214$70
39 years$1,384$884$546$329$194$62
40 years$1,334$841$512$303$176$54
41 years$1,287$800$480$280$160$47
42 years$1,243$762$450$258$145$41
43 years$1,200$726$422$238$131$36
44 years$1,160$692$396$220$119$32
45 years$1,121$660$372$203$108$28
46 years$1,084$630$350$188$98$24
47 years$1,049$601$328$173$89$21
48 years$1,016$574$309$160$81$19
49 years$984$548$290$148$74$16
50 years$953$523$273$137$67$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $976,000, adding $6,485 every year, while hoping to spend $43,872 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: 57/28/15 Blend
60$976,000$976,000$976,000$976,000
61$1,082,241$1,030,513$1,015,385$1,139,377
62$1,145,950$1,034,329$1,002,721$1,182,656
63$1,214,687$1,036,861$988,163$1,224,433
64$1,288,919$1,038,001$971,599$1,268,944
65$1,369,158$1,037,632$952,917$1,316,461
66$1,455,967$1,035,631$931,995$1,367,282
67$1,549,966$1,031,867$908,707$1,421,739
68$1,651,836$1,026,202$882,922$1,480,198
69$1,762,326$1,018,488$854,502$1,543,066
70$1,882,258$1,008,570$823,304$1,610,791
71$2,012,540$996,281$789,175$1,683,871
72$2,154,166$981,446$751,960$1,762,854
73$2,308,233$963,878$711,492$1,848,351
74$2,475,946$943,382$667,601$1,941,033
75$2,658,633$919,748$620,106$2,041,645
76$2,857,753$892,756$568,820$2,151,011
77$3,074,914$862,171$513,545$2,270,041
78$3,311,884$827,746$454,077$2,399,741
79$3,570,610$789,219$390,202$2,541,224
80$3,853,234$746,313$321,696$2,695,721
81$4,162,116$698,735$248,326$2,864,590
82$4,499,854$646,174$169,846$3,049,337
83$4,869,307$588,305$86,004$3,251,620
84$5,273,624$524,779$0$3,473,275
85$5,716,272$455,231$0$3,716,886
86$6,201,069$379,275$0$3,998,862
87$6,732,220$296,502$0$4,307,945
88$7,314,356$206,480$0$4,646,918
89$7,952,577$108,754$0$5,018,848
90$8,652,499$2,842$0$5,427,123
91$9,420,309$0$0$5,875,479
92$10,262,821$0$0$6,402,475
93$11,187,541$0$0$6,981,942
94$12,202,736$0$0$7,618,197
95$13,317,515$0$0$8,316,959
96$14,541,909$0$0$9,084,528
97$15,886,971$0$0$9,927,846
98$17,364,875$0$0$10,854,558
99$18,989,035$0$0$11,873,087
100$20,774,226$0$0$12,992,715