Can I retire at age 61 with 979,000?

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 $979,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$80,845$80,125$79,422$78,736$78,067$76,118
2 years$40,022$39,277$38,554$37,854$37,175$35,223
3 years$26,416$25,668$24,947$24,253$23,585$21,693
4 years$19,615$18,869$18,155$17,473$16,821$15,002
5 years$15,535$14,793$14,089$13,421$12,787$11,046
6 years$12,816$12,080$11,386$10,733$10,118$8,457
7 years$10,875$10,145$9,462$8,824$8,229$6,648
8 years$9,419$8,696$8,024$7,402$6,826$5,326
9 years$8,288$7,571$6,911$6,305$5,749$4,326
10 years$7,383$6,674$6,026$5,435$4,898$3,553
11 years$6,644$5,941$5,305$4,730$4,213$2,942
12 years$6,028$5,332$4,708$4,149$3,651$2,452
13 years$5,507$4,819$4,206$3,663$3,183$2,055
14 years$5,061$4,380$3,779$3,252$2,791$1,730
15 years$4,675$4,002$3,412$2,900$2,457$1,461
16 years$4,337$3,671$3,094$2,596$2,172$1,238
17 years$4,040$3,381$2,815$2,333$1,925$1,052
18 years$3,776$3,124$2,570$2,102$1,712$895
19 years$3,540$2,896$2,353$1,900$1,526$763
20 years$3,327$2,691$2,159$1,721$1,363$652
21 years$3,136$2,506$1,986$1,562$1,220$557
22 years$2,961$2,340$1,830$1,420$1,093$477
23 years$2,803$2,188$1,690$1,293$981$409
24 years$2,657$2,050$1,563$1,179$882$350
25 years$2,524$1,924$1,448$1,077$794$301
26 years$2,401$1,808$1,343$985$715$258
27 years$2,287$1,702$1,247$901$645$222
28 years$2,182$1,604$1,159$826$582$190
29 years$2,084$1,513$1,079$757$525$164
30 years$1,993$1,429$1,005$695$475$141
31 years$1,908$1,351$937$638$429$121
32 years$1,828$1,278$874$587$388$104
33 years$1,753$1,210$816$539$351$90
34 years$1,683$1,147$762$496$318$77
35 years$1,617$1,088$713$457$288$66
36 years$1,555$1,033$667$421$261$57
37 years$1,496$981$624$388$237$49
38 years$1,441$932$584$357$214$42
39 years$1,388$886$548$330$194$36
40 years$1,338$843$513$304$176$31
41 years$1,291$803$481$280$160$27
42 years$1,246$764$451$259$145$23
43 years$1,204$728$424$239$132$20
44 years$1,163$694$398$221$120$17
45 years$1,125$662$373$204$109$15
46 years$1,088$632$351$188$99$13
47 years$1,052$603$329$174$90$11
48 years$1,019$575$310$161$81$9
49 years$987$549$291$148$74$8
50 years$956$525$274$137$67$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $979,000, adding $5,345 every year, while hoping to spend $51,563 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: 25/49/26 Blend
60$979,000$979,000$979,000$979,000
61$1,084,371$1,032,484$1,017,310$1,102,492
62$1,140,115$1,028,213$996,527$1,113,584
63$1,199,815$1,022,005$973,320$1,120,706
64$1,263,823$1,013,710$947,553$1,127,256
65$1,332,521$1,003,170$919,084$1,133,221
66$1,406,329$990,216$887,764$1,138,592
67$1,485,710$974,671$853,439$1,143,361
68$1,571,169$956,347$815,946$1,147,529
69$1,663,263$935,043$775,115$1,151,100
70$1,762,604$910,548$730,769$1,154,087
71$1,869,862$882,638$682,723$1,156,509
72$1,985,776$851,075$630,782$1,158,396
73$2,111,157$815,610$574,746$1,159,788
74$2,246,897$775,976$514,401$1,160,738
75$2,393,974$731,892$449,527$1,161,312
76$2,553,466$683,062$379,893$1,161,593
77$2,726,559$629,172$305,259$1,161,680
78$2,914,556$569,889$225,373$1,161,695
79$3,118,890$504,862$139,972$1,161,782
80$3,341,138$433,722$48,782$1,162,111
81$3,583,035$356,075$0$1,162,882
82$3,846,490$271,509$0$1,177,793
83$4,133,604$179,585$0$1,208,967
84$4,446,689$79,842$0$1,243,255
85$4,788,290$0$0$1,281,108
86$5,161,207$0$0$1,338,241
87$5,568,524$0$0$1,447,821
88$6,013,635$0$0$1,567,731
89$6,500,276$0$0$1,698,996
90$7,032,563$0$0$1,842,748
91$7,615,024$0$0$2,000,233
92$8,252,648$0$0$2,172,820
93$8,950,927$0$0$2,362,022
94$9,715,911$0$0$2,569,500
95$10,554,262$0$0$2,797,088
96$11,473,315$0$0$3,046,803
97$12,481,150$0$0$3,320,867
98$13,586,668$0$0$3,621,730
99$14,799,670$0$0$3,952,088
100$16,130,955$0$0$4,314,913