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%14.8%
1 years$80,845$80,125$79,422$78,736$78,067$76,522
2 years$40,022$39,277$38,554$37,854$37,175$35,625
3 years$26,416$25,668$24,947$24,253$23,585$22,078
4 years$19,615$18,869$18,155$17,473$16,821$15,369
5 years$15,535$14,793$14,089$13,421$12,787$11,394
6 years$12,816$12,080$11,386$10,733$10,118$8,786
7 years$10,875$10,145$9,462$8,824$8,229$6,957
8 years$9,419$8,696$8,024$7,402$6,826$5,616
9 years$8,288$7,571$6,911$6,305$5,749$4,598
10 years$7,383$6,674$6,026$5,435$4,898$3,806
11 years$6,644$5,941$5,305$4,730$4,213$3,178
12 years$6,028$5,332$4,708$4,149$3,651$2,671
13 years$5,507$4,819$4,206$3,663$3,183$2,258
14 years$5,061$4,380$3,779$3,252$2,791$1,918
15 years$4,675$4,002$3,412$2,900$2,457$1,635
16 years$4,337$3,671$3,094$2,596$2,172$1,398
17 years$4,040$3,381$2,815$2,333$1,925$1,199
18 years$3,776$3,124$2,570$2,102$1,712$1,030
19 years$3,540$2,896$2,353$1,900$1,526$887
20 years$3,327$2,691$2,159$1,721$1,363$765
21 years$3,136$2,506$1,986$1,562$1,220$661
22 years$2,961$2,340$1,830$1,420$1,093$571
23 years$2,803$2,188$1,690$1,293$981$494
24 years$2,657$2,050$1,563$1,179$882$428
25 years$2,524$1,924$1,448$1,077$794$371
26 years$2,401$1,808$1,343$985$715$322
27 years$2,287$1,702$1,247$901$645$279
28 years$2,182$1,604$1,159$826$582$243
29 years$2,084$1,513$1,079$757$525$211
30 years$1,993$1,429$1,005$695$475$183
31 years$1,908$1,351$937$638$429$159
32 years$1,828$1,278$874$587$388$138
33 years$1,753$1,210$816$539$351$120
34 years$1,683$1,147$762$496$318$105
35 years$1,617$1,088$713$457$288$91
36 years$1,555$1,033$667$421$261$79
37 years$1,496$981$624$388$237$69
38 years$1,441$932$584$357$214$60
39 years$1,388$886$548$330$194$52
40 years$1,338$843$513$304$176$46
41 years$1,291$803$481$280$160$40
42 years$1,246$764$451$259$145$34
43 years$1,204$728$424$239$132$30
44 years$1,163$694$398$221$120$26
45 years$1,125$662$373$204$109$23
46 years$1,088$632$351$188$99$20
47 years$1,052$603$329$174$90$17
48 years$1,019$575$310$161$81$15
49 years$987$549$291$148$74$13
50 years$956$525$274$137$67$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $979,000, adding $3,829 every year, while hoping to spend $53,607 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: 84/7/9 Blend
60$979,000$979,000$979,000$979,000
61$1,082,808$1,030,921$1,015,746$1,172,150
62$1,136,217$1,024,398$992,736$1,224,588
63$1,193,277$1,015,760$967,159$1,274,560
64$1,254,303$1,004,845$938,871$1,327,789
65$1,319,643$991,483$907,724$1,384,571
66$1,389,676$975,495$873,562$1,445,229
67$1,464,818$956,689$836,222$1,510,120
68$1,545,527$934,864$795,532$1,579,636
69$1,632,303$909,805$751,315$1,654,210
70$1,725,699$881,286$703,385$1,734,317
71$1,826,318$849,067$651,546$1,820,483
72$1,934,825$812,894$595,596$1,913,284
73$2,051,950$772,499$535,321$2,013,358
74$2,178,495$727,597$470,500$2,121,404
75$2,315,340$677,888$400,901$2,238,195
76$2,463,455$623,055$326,281$2,364,582
77$2,623,904$562,761$246,388$2,501,503
78$2,797,857$496,651$160,957$2,649,992
79$2,986,603$424,352$69,714$2,811,186
80$3,191,557$345,466$0$2,986,341
81$3,414,276$259,574$0$3,179,496
82$3,656,474$166,235$0$3,396,837
83$3,920,036$64,981$0$3,633,373
84$4,207,034$0$0$3,890,986
85$4,519,752$0$0$4,175,193
86$4,860,700$0$0$4,490,529
87$5,232,643$0$0$4,834,548
88$5,638,623$0$0$5,210,066
89$6,081,988$0$0$5,620,181
90$6,566,426$0$0$6,068,308
91$7,095,995$0$0$6,558,201
92$7,675,164$0$0$7,093,998
93$8,308,852$0$0$7,680,252
94$9,002,478$0$0$8,321,977
95$9,762,006$0$0$9,024,697
96$10,594,006$0$0$9,794,491
97$11,505,712$0$0$10,638,057
98$12,505,093$0$0$11,562,768
99$13,600,924$0$0$12,576,749
100$14,802,869$0$0$13,688,945