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%13.7%
1 years$80,597$79,879$79,179$78,495$77,828$76,633
2 years$39,900$39,156$38,436$37,738$37,061$35,860
3 years$26,336$25,589$24,871$24,179$23,513$22,343
4 years$19,555$18,811$18,100$17,420$16,770$15,641
5 years$15,487$14,748$14,046$13,380$12,748$11,662
6 years$12,777$12,043$11,351$10,700$10,087$9,046
7 years$10,841$10,113$9,433$8,797$8,203$7,208
8 years$9,390$8,669$8,000$7,380$6,806$5,855
9 years$8,262$7,548$6,890$6,286$5,731$4,825
10 years$7,361$6,653$6,007$5,418$4,883$4,021
11 years$6,623$5,923$5,289$4,716$4,200$3,381
12 years$6,009$5,316$4,693$4,136$3,639$2,862
13 years$5,490$4,804$4,193$3,652$3,174$2,437
14 years$5,046$4,367$3,768$3,242$2,782$2,085
15 years$4,661$3,989$3,402$2,891$2,450$1,791
16 years$4,324$3,660$3,084$2,589$2,165$1,544
17 years$4,027$3,371$2,806$2,326$1,920$1,334
18 years$3,764$3,115$2,562$2,096$1,707$1,156
19 years$3,529$2,887$2,345$1,894$1,521$1,003
20 years$3,317$2,682$2,152$1,715$1,359$872
21 years$3,126$2,499$1,980$1,557$1,216$759
22 years$2,952$2,332$1,825$1,415$1,090$662
23 years$2,794$2,181$1,685$1,289$978$578
24 years$2,649$2,044$1,558$1,176$879$505
25 years$2,516$1,918$1,443$1,074$791$442
26 years$2,394$1,803$1,338$982$713$386
27 years$2,280$1,697$1,243$899$643$338
28 years$2,175$1,599$1,155$823$580$296
29 years$2,078$1,508$1,075$755$524$260
30 years$1,987$1,424$1,002$693$473$228
31 years$1,902$1,346$934$636$428$200
32 years$1,822$1,274$871$585$387$175
33 years$1,748$1,206$813$538$350$154
34 years$1,678$1,143$760$495$317$135
35 years$1,612$1,085$711$456$287$119
36 years$1,550$1,029$665$420$260$104
37 years$1,492$978$622$387$236$92
38 years$1,436$929$583$356$214$80
39 years$1,384$884$546$329$194$71
40 years$1,334$841$512$303$176$62
41 years$1,287$800$480$280$160$55
42 years$1,243$762$450$258$145$48
43 years$1,200$726$422$238$131$42
44 years$1,160$692$396$220$119$37
45 years$1,121$660$372$203$108$33
46 years$1,084$630$350$188$98$29
47 years$1,049$601$328$173$89$25
48 years$1,016$574$309$160$81$22
49 years$984$548$290$148$74$19
50 years$953$523$273$137$67$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $976,000, adding $3,268 every year, while hoping to spend $31,173 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: 70/20/10 Blend
60$976,000$976,000$976,000$976,000
61$1,078,923$1,027,195$1,012,067$1,152,099
62$1,155,805$1,044,360$1,012,803$1,218,172
63$1,239,485$1,061,321$1,012,520$1,286,340
64$1,330,622$1,078,035$1,011,149$1,360,100
65$1,429,943$1,094,457$1,008,620$1,439,994
66$1,538,249$1,110,537$1,004,860$1,526,623
67$1,656,419$1,126,221$999,792$1,620,646
68$1,785,422$1,141,455$993,333$1,722,791
69$1,926,325$1,156,176$985,400$1,833,859
70$2,080,303$1,170,321$975,903$1,954,732
71$2,248,646$1,183,820$964,749$2,086,385
72$2,432,780$1,196,599$951,840$2,229,890
73$2,634,271$1,208,579$937,073$2,386,427
74$2,854,844$1,219,677$920,343$2,557,301
75$3,096,400$1,229,803$901,536$2,743,946
76$3,361,031$1,238,861$880,536$2,947,945
77$3,651,041$1,246,751$857,219$3,171,040
78$3,968,969$1,253,363$831,457$3,415,155
79$4,317,609$1,258,583$803,116$3,682,408
80$4,700,040$1,262,289$772,056$3,975,132
81$5,119,654$1,264,351$738,129$4,295,903
82$5,580,185$1,264,630$701,183$4,647,556
83$6,085,747$1,262,980$661,056$5,033,217
84$6,640,873$1,259,245$617,581$5,456,334
85$7,250,554$1,253,261$570,582$5,920,704
86$7,920,291$1,244,851$519,877$6,430,514
87$8,656,141$1,233,829$465,273$6,990,380
88$9,464,780$1,219,999$406,572$7,605,387
89$10,353,559$1,203,151$343,565$8,281,143
90$11,330,581$1,183,064$276,032$9,023,828
91$12,404,769$1,159,503$203,748$9,840,253
92$13,585,956$1,132,219$126,474$10,737,927
93$14,884,974$1,100,949$43,962$11,725,126
94$16,313,760$1,065,414$0$12,810,972
95$17,885,464$1,025,320$0$14,010,224
96$19,614,574$980,353$0$15,334,570
97$21,517,054$930,184$0$16,791,562
98$23,610,493$874,463$0$18,394,692
99$25,914,273$812,820$0$20,158,835
100$28,449,746$744,866$0$22,100,381