Can I retire at age 61 with 977,000?

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 $977,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$80,680$79,961$79,260$78,576$77,907$76,303
2 years$39,940$39,197$38,476$37,777$37,099$35,490
3 years$26,362$25,615$24,896$24,204$23,537$21,974
4 years$19,575$18,830$18,118$17,438$16,787$15,281
5 years$15,503$14,763$14,060$13,394$12,761$11,317
6 years$12,790$12,055$11,363$10,711$10,097$8,717
7 years$10,852$10,124$9,443$8,806$8,212$6,895
8 years$9,400$8,678$8,008$7,387$6,813$5,559
9 years$8,271$7,556$6,897$6,292$5,737$4,546
10 years$7,368$6,660$6,013$5,424$4,888$3,758
11 years$6,630$5,929$5,294$4,721$4,204$3,134
12 years$6,015$5,322$4,698$4,141$3,643$2,631
13 years$5,496$4,809$4,198$3,655$3,177$2,221
14 years$5,051$4,371$3,772$3,245$2,785$1,884
15 years$4,665$3,993$3,405$2,894$2,452$1,604
16 years$4,328$3,664$3,087$2,591$2,167$1,369
17 years$4,032$3,374$2,809$2,328$1,922$1,173
18 years$3,768$3,118$2,565$2,098$1,709$1,006
19 years$3,532$2,890$2,348$1,896$1,523$865
20 years$3,321$2,685$2,155$1,717$1,360$745
21 years$3,129$2,501$1,982$1,558$1,217$642
22 years$2,955$2,335$1,827$1,417$1,091$554
23 years$2,797$2,184$1,687$1,290$979$479
24 years$2,652$2,046$1,560$1,177$880$414
25 years$2,519$1,920$1,445$1,075$792$359
26 years$2,396$1,805$1,340$983$714$311
27 years$2,283$1,698$1,244$900$643$269
28 years$2,178$1,600$1,157$824$580$233
29 years$2,080$1,510$1,076$756$524$202
30 years$1,989$1,426$1,003$694$474$176
31 years$1,904$1,348$935$637$428$152
32 years$1,824$1,275$872$585$387$132
33 years$1,750$1,208$814$538$351$115
34 years$1,680$1,145$761$495$317$100
35 years$1,614$1,086$711$456$287$87
36 years$1,552$1,030$665$420$260$75
37 years$1,493$979$623$387$236$65
38 years$1,438$930$583$357$214$57
39 years$1,385$884$546$329$194$49
40 years$1,336$841$512$303$176$43
41 years$1,289$801$480$280$160$37
42 years$1,244$763$450$258$145$32
43 years$1,201$727$423$238$132$28
44 years$1,161$693$397$220$119$24
45 years$1,122$661$373$203$108$21
46 years$1,085$630$350$188$98$19
47 years$1,050$601$329$173$89$16
48 years$1,017$574$309$160$81$14
49 years$985$548$290$148$74$12
50 years$954$524$273$137$67$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $977,000, adding $2,636 every year, while hoping to spend $57,163 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: 40/44/16 Blend
60$977,000$977,000$977,000$977,000
61$1,079,373$1,027,592$1,012,449$1,117,317
62$1,128,648$1,017,123$985,545$1,134,060
63$1,181,033$1,004,225$955,823$1,146,413
64$1,236,786$988,719$923,130$1,158,560
65$1,296,186$970,415$887,304$1,170,509
66$1,359,543$949,111$848,174$1,182,275
67$1,427,193$924,594$805,565$1,193,881
68$1,499,507$896,639$759,291$1,205,353
69$1,576,888$865,006$709,159$1,216,729
70$1,659,783$829,443$654,968$1,228,054
71$1,748,677$789,682$596,505$1,239,386
72$1,844,105$745,440$533,552$1,250,792
73$1,946,655$696,418$465,877$1,262,355
74$2,056,970$642,298$393,240$1,274,174
75$2,175,757$582,748$315,390$1,286,364
76$2,303,794$517,411$232,065$1,299,061
77$2,441,933$445,916$142,991$1,312,425
78$2,591,111$367,867$47,882$1,326,637
79$2,752,358$282,847$0$1,341,912
80$2,926,807$190,415$0$1,367,646
81$3,115,701$90,105$0$1,404,285
82$3,320,409$0$0$1,444,021
83$3,542,435$0$0$1,496,271
84$3,783,432$0$0$1,600,448
85$4,045,221$0$0$1,713,725
86$4,329,803$0$0$1,836,982
87$4,639,379$0$0$1,971,188
88$4,976,372$0$0$2,117,408
89$5,343,446$0$0$2,276,815
90$5,743,537$0$0$2,450,700
91$6,179,871$0$0$2,640,483
92$6,656,001$0$0$2,847,727
93$7,175,839$0$0$3,074,156
94$7,743,689$0$0$3,321,662
95$8,364,292$0$0$3,592,333
96$9,042,865$0$0$3,888,467
97$9,785,152$0$0$4,212,592
98$10,597,481$0$0$4,567,494
99$11,486,815$0$0$4,956,240
100$12,460,826$0$0$5,382,209