Can I retire at age 61 with 978,000?

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 $978,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$80,762$80,043$79,341$78,656$77,987$75,733
2 years$39,981$39,237$38,515$37,815$37,137$34,884
3 years$26,389$25,642$24,922$24,229$23,561$21,380
4 years$19,595$18,849$18,137$17,455$16,804$14,711
5 years$15,519$14,778$14,075$13,407$12,774$10,776
6 years$12,803$12,067$11,375$10,722$10,108$8,205
7 years$10,863$10,134$9,452$8,815$8,220$6,414
8 years$9,410$8,687$8,016$7,395$6,820$5,108
9 years$8,279$7,563$6,904$6,299$5,743$4,124
10 years$7,376$6,667$6,019$5,430$4,893$3,365
11 years$6,637$5,935$5,299$4,725$4,208$2,769
12 years$6,022$5,327$4,703$4,145$3,647$2,293
13 years$5,501$4,814$4,202$3,659$3,180$1,909
14 years$5,056$4,376$3,775$3,248$2,788$1,596
15 years$4,670$3,997$3,409$2,897$2,455$1,339
16 years$4,333$3,668$3,091$2,594$2,169$1,126
17 years$4,036$3,378$2,812$2,331$1,923$950
18 years$3,772$3,121$2,567$2,100$1,710$802
19 years$3,536$2,893$2,350$1,898$1,524$679
20 years$3,324$2,688$2,157$1,719$1,362$575
21 years$3,132$2,504$1,984$1,560$1,219$488
22 years$2,958$2,337$1,828$1,418$1,092$415
23 years$2,800$2,186$1,688$1,292$980$352
24 years$2,655$2,048$1,561$1,178$881$300
25 years$2,521$1,922$1,446$1,076$793$255
26 years$2,399$1,806$1,341$984$714$217
27 years$2,285$1,700$1,245$900$644$185
28 years$2,180$1,602$1,158$825$581$158
29 years$2,082$1,511$1,077$757$525$134
30 years$1,991$1,427$1,004$694$474$115
31 years$1,906$1,349$936$638$429$98
32 years$1,826$1,277$873$586$388$83
33 years$1,751$1,209$815$539$351$71
34 years$1,681$1,146$762$496$318$61
35 years$1,615$1,087$712$456$288$52
36 years$1,553$1,032$666$420$261$44
37 years$1,495$980$623$387$236$38
38 years$1,439$931$584$357$214$32
39 years$1,387$885$547$329$194$28
40 years$1,337$842$513$304$176$23
41 years$1,290$802$481$280$160$20
42 years$1,245$764$451$259$145$17
43 years$1,203$728$423$239$132$15
44 years$1,162$694$397$220$119$12
45 years$1,123$661$373$204$108$11
46 years$1,087$631$350$188$98$9
47 years$1,051$602$329$174$89$8
48 years$1,018$575$309$160$81$7
49 years$986$549$291$148$74$6
50 years$955$524$273$137$67$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $978,000, adding $6,565 every year, while hoping to spend $38,726 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: 37/44/19 Blend
60$978,000$978,000$978,000$978,000
61$1,084,528$1,032,694$1,017,535$1,118,219
62$1,153,945$1,042,092$1,010,418$1,152,614
63$1,229,146$1,050,652$1,001,765$1,185,613
64$1,310,678$1,058,293$991,483$1,220,453
65$1,399,145$1,064,928$979,476$1,257,320
66$1,495,211$1,070,463$965,642$1,296,422
67$1,599,607$1,074,799$949,875$1,337,990
68$1,713,136$1,077,833$932,065$1,382,283
69$1,836,681$1,079,452$912,094$1,429,585
70$1,971,215$1,079,538$889,842$1,480,216
71$2,117,808$1,077,965$865,181$1,534,528
72$2,277,638$1,074,598$837,978$1,592,914
73$2,452,000$1,069,297$808,093$1,655,810
74$2,642,322$1,061,910$775,382$1,723,699
75$2,850,173$1,052,278$739,692$1,797,118
76$3,077,283$1,040,232$700,864$1,876,663
77$3,325,555$1,025,592$658,731$1,962,994
78$3,597,083$1,008,168$613,121$2,056,844
79$3,894,176$987,758$563,850$2,159,025
80$4,219,372$964,149$510,730$2,270,438
81$4,575,471$937,115$453,562$2,392,079
82$4,965,552$906,417$392,139$2,525,053
83$5,393,008$871,801$326,246$2,670,586
84$5,861,574$832,999$255,655$2,830,032
85$6,375,367$789,728$180,131$3,004,892
86$6,938,918$741,688$99,429$3,196,828
87$7,557,219$688,562$13,291$3,407,678
88$8,235,768$630,014$0$3,639,477
89$8,980,622$565,691$0$3,910,417
90$9,798,453$495,217$0$4,210,960
91$10,696,609$418,197$0$4,541,220
92$11,683,187$334,212$0$4,904,306
93$12,767,104$242,821$0$5,303,650
94$13,958,187$143,557$0$5,743,042
95$15,267,258$35,928$0$6,226,668
96$16,706,243$0$0$6,759,149
97$18,288,279$0$0$7,384,606
98$20,027,839$0$0$8,091,618
99$21,940,870$0$0$8,869,290
100$24,044,941$0$0$9,724,782