Can I retire at age 61 with 976,000?

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 $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%11.2%
1 years$80,597$79,879$79,179$78,495$77,828$77,435
2 years$39,900$39,156$38,436$37,738$37,061$36,664
3 years$26,336$25,589$24,871$24,179$23,513$23,125
4 years$19,555$18,811$18,100$17,420$16,770$16,393
5 years$15,487$14,748$14,046$13,380$12,748$12,384
6 years$12,777$12,043$11,351$10,700$10,087$9,737
7 years$10,841$10,113$9,433$8,797$8,203$7,866
8 years$9,390$8,669$8,000$7,380$6,806$6,482
9 years$8,262$7,548$6,890$6,286$5,731$5,421
10 years$7,361$6,653$6,007$5,418$4,883$4,586
11 years$6,623$5,923$5,289$4,716$4,200$3,916
12 years$6,009$5,316$4,693$4,136$3,639$3,368
13 years$5,490$4,804$4,193$3,652$3,174$2,915
14 years$5,046$4,367$3,768$3,242$2,782$2,536
15 years$4,661$3,989$3,402$2,891$2,450$2,215
16 years$4,324$3,660$3,084$2,589$2,165$1,942
17 years$4,027$3,371$2,806$2,326$1,920$1,708
18 years$3,764$3,115$2,562$2,096$1,707$1,506
19 years$3,529$2,887$2,345$1,894$1,521$1,331
20 years$3,317$2,682$2,152$1,715$1,359$1,179
21 years$3,126$2,499$1,980$1,557$1,216$1,046
22 years$2,952$2,332$1,825$1,415$1,090$929
23 years$2,794$2,181$1,685$1,289$978$827
24 years$2,649$2,044$1,558$1,176$879$736
25 years$2,516$1,918$1,443$1,074$791$656
26 years$2,394$1,803$1,338$982$713$586
27 years$2,280$1,697$1,243$899$643$523
28 years$2,175$1,599$1,155$823$580$468
29 years$2,078$1,508$1,075$755$524$418
30 years$1,987$1,424$1,002$693$473$374
31 years$1,902$1,346$934$636$428$335
32 years$1,822$1,274$871$585$387$300
33 years$1,748$1,206$813$538$350$269
34 years$1,678$1,143$760$495$317$241
35 years$1,612$1,085$711$456$287$216
36 years$1,550$1,029$665$420$260$194
37 years$1,492$978$622$387$236$174
38 years$1,436$929$583$356$214$156
39 years$1,384$884$546$329$194$140
40 years$1,334$841$512$303$176$126
41 years$1,287$800$480$280$160$113
42 years$1,243$762$450$258$145$102
43 years$1,200$726$422$238$131$91
44 years$1,160$692$396$220$119$82
45 years$1,121$660$372$203$108$74
46 years$1,084$630$350$188$98$66
47 years$1,049$601$328$173$89$59
48 years$1,016$574$309$160$81$53
49 years$984$548$290$148$74$48
50 years$953$523$273$137$67$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $976,000, adding $2,936 every year, while hoping to spend $59,784 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: 69/9/22 Blend
60$976,000$976,000$976,000$976,000
61$1,078,580$1,026,852$1,011,724$1,146,863
62$1,124,986$1,013,559$982,008$1,179,612
63$1,174,121$997,609$949,291$1,208,194
64$1,226,201$978,812$913,412$1,238,032
65$1,281,462$956,962$874,200$1,269,247
66$1,340,159$931,842$831,474$1,301,974
67$1,402,576$903,222$785,049$1,336,363
68$1,469,019$870,861$734,728$1,372,581
69$1,539,826$834,500$680,309$1,410,814
70$1,615,366$793,868$621,577$1,451,267
71$1,696,043$748,677$558,309$1,494,172
72$1,782,300$698,623$490,273$1,539,783
73$1,874,624$643,384$417,226$1,588,384
74$1,973,545$582,620$338,913$1,640,291
75$2,079,650$515,971$255,070$1,695,854
76$2,193,578$443,058$165,419$1,755,461
77$2,316,034$363,479$69,671$1,819,545
78$2,447,790$276,810$0$1,888,585
79$2,589,694$182,603$0$1,970,742
80$2,742,678$80,385$0$2,076,924
81$2,907,764$0$0$2,191,490
82$3,086,077$0$0$2,318,249
83$3,278,852$0$0$2,463,938
84$3,487,446$0$0$2,621,629
85$3,713,354$0$0$2,792,454
86$3,958,214$0$0$2,977,661
87$4,223,833$0$0$3,178,622
88$4,512,194$0$0$3,396,843
89$4,825,480$0$0$3,633,984
90$5,166,092$0$0$3,891,869
91$5,536,671$0$0$4,172,506
92$5,940,124$0$0$4,478,104
93$6,379,649$0$0$4,811,092
94$6,858,764$0$0$5,174,146
95$7,381,344$0$0$5,570,210
96$7,951,651$0$0$6,002,524
97$8,574,378$0$0$6,474,655
98$9,254,690$0$0$6,990,529
99$9,998,274$0$0$7,554,469
100$10,811,392$0$0$8,171,235