Can I retire at age 61 with 977,000?

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 $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%14.4%
1 years$80,680$79,961$79,260$78,576$77,907$76,491
2 years$39,940$39,197$38,476$37,777$37,099$35,677
3 years$26,362$25,615$24,896$24,204$23,537$22,154
4 years$19,575$18,830$18,118$17,438$16,787$15,453
5 years$15,503$14,763$14,060$13,394$12,761$11,480
6 years$12,790$12,055$11,363$10,711$10,097$8,871
7 years$10,852$10,124$9,443$8,806$8,212$7,041
8 years$9,400$8,678$8,008$7,387$6,813$5,696
9 years$8,271$7,556$6,897$6,292$5,737$4,675
10 years$7,368$6,660$6,013$5,424$4,888$3,879
11 years$6,630$5,929$5,294$4,721$4,204$3,247
12 years$6,015$5,322$4,698$4,141$3,643$2,737
13 years$5,496$4,809$4,198$3,655$3,177$2,320
14 years$5,051$4,371$3,772$3,245$2,785$1,975
15 years$4,665$3,993$3,405$2,894$2,452$1,689
16 years$4,328$3,664$3,087$2,591$2,167$1,448
17 years$4,032$3,374$2,809$2,328$1,922$1,245
18 years$3,768$3,118$2,565$2,098$1,709$1,073
19 years$3,532$2,890$2,348$1,896$1,523$927
20 years$3,321$2,685$2,155$1,717$1,360$802
21 years$3,129$2,501$1,982$1,558$1,217$694
22 years$2,955$2,335$1,827$1,417$1,091$602
23 years$2,797$2,184$1,687$1,290$979$523
24 years$2,652$2,046$1,560$1,177$880$454
25 years$2,519$1,920$1,445$1,075$792$395
26 years$2,396$1,805$1,340$983$714$344
27 years$2,283$1,698$1,244$900$643$299
28 years$2,178$1,600$1,157$824$580$261
29 years$2,080$1,510$1,076$756$524$227
30 years$1,989$1,426$1,003$694$474$198
31 years$1,904$1,348$935$637$428$173
32 years$1,824$1,275$872$585$387$151
33 years$1,750$1,208$814$538$351$132
34 years$1,680$1,145$761$495$317$115
35 years$1,614$1,086$711$456$287$100
36 years$1,552$1,030$665$420$260$88
37 years$1,493$979$623$387$236$76
38 years$1,438$930$583$357$214$67
39 years$1,385$884$546$329$194$58
40 years$1,336$841$512$303$176$51
41 years$1,289$801$480$280$160$44
42 years$1,244$763$450$258$145$39
43 years$1,201$727$423$238$132$34
44 years$1,161$693$397$220$119$30
45 years$1,122$661$373$203$108$26
46 years$1,085$630$350$188$98$23
47 years$1,050$601$329$173$89$20
48 years$1,017$574$309$160$81$17
49 years$985$548$290$148$74$15
50 years$954$524$273$137$67$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $977,000, adding $3,750 every year, while hoping to spend $35,657 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: 77/9/14 Blend
60$977,000$977,000$977,000$977,000
61$1,080,522$1,028,741$1,013,598$1,160,308
62$1,152,797$1,041,211$1,009,614$1,225,901
63$1,231,248$1,053,096$1,004,303$1,292,928
64$1,316,469$1,064,331$997,580$1,365,438
65$1,409,110$1,074,845$989,361$1,443,963
66$1,509,890$1,084,563$979,555$1,529,092
67$1,619,596$1,093,404$968,067$1,621,473
68$1,739,097$1,101,283$954,799$1,721,820
69$1,869,347$1,108,108$939,648$1,830,921
70$2,011,398$1,113,783$922,503$1,949,642
71$2,166,407$1,118,204$903,253$2,078,939
72$2,335,646$1,121,262$881,778$2,219,866
73$2,520,518$1,122,840$857,954$2,373,582
74$2,722,567$1,122,815$831,651$2,541,367
75$2,943,490$1,121,055$802,733$2,724,631
76$3,185,159$1,117,419$771,058$2,924,928
77$3,449,634$1,111,761$736,476$3,143,969
78$3,739,181$1,103,923$698,833$3,383,642
79$4,056,300$1,093,737$657,967$3,646,027
80$4,403,740$1,081,028$613,706$3,933,418
81$4,784,531$1,065,607$565,874$4,248,340
82$5,202,008$1,047,277$514,286$4,593,580
83$5,659,845$1,025,826$458,747$4,972,207
84$6,162,090$1,001,032$399,055$5,387,605
85$6,713,199$972,658$335,000$5,843,503
86$7,318,083$940,456$266,359$6,344,013
87$7,982,148$904,159$192,904$6,893,665
88$8,711,354$863,490$114,393$7,497,453
89$9,512,262$818,151$30,575$8,160,882
90$10,392,102$767,829$0$8,890,019
91$11,358,837$712,193$0$9,700,345
92$12,421,242$650,894$0$10,595,883
93$13,588,981$583,561$0$11,580,227
94$14,872,705$509,803$0$12,662,376
95$16,284,144$429,207$0$13,852,246
96$17,836,225$341,336$0$15,160,763
97$19,543,187$245,728$0$16,599,966
98$21,420,721$141,898$0$18,183,124
99$23,486,113$29,329$0$19,924,857
100$25,758,410$0$0$21,841,273