Can I retire at age 61 with 979,000?

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 $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%12.7%
1 years$80,845$80,125$79,422$78,736$78,067$77,187
2 years$40,022$39,277$38,554$37,854$37,175$36,289
3 years$26,416$25,668$24,947$24,253$23,585$22,721
4 years$19,615$18,869$18,155$17,473$16,821$15,986
5 years$15,535$14,793$14,089$13,421$12,787$11,982
6 years$12,816$12,080$11,386$10,733$10,118$9,345
7 years$10,875$10,145$9,462$8,824$8,229$7,487
8 years$9,419$8,696$8,024$7,402$6,826$6,117
9 years$8,288$7,571$6,911$6,305$5,749$5,071
10 years$7,383$6,674$6,026$5,435$4,898$4,252
11 years$6,644$5,941$5,305$4,730$4,213$3,597
12 years$6,028$5,332$4,708$4,149$3,651$3,065
13 years$5,507$4,819$4,206$3,663$3,183$2,627
14 years$5,061$4,380$3,779$3,252$2,791$2,263
15 years$4,675$4,002$3,412$2,900$2,457$1,957
16 years$4,337$3,671$3,094$2,596$2,172$1,698
17 years$4,040$3,381$2,815$2,333$1,925$1,478
18 years$3,776$3,124$2,570$2,102$1,712$1,289
19 years$3,540$2,896$2,353$1,900$1,526$1,127
20 years$3,327$2,691$2,159$1,721$1,363$988
21 years$3,136$2,506$1,986$1,562$1,220$866
22 years$2,961$2,340$1,830$1,420$1,093$761
23 years$2,803$2,188$1,690$1,293$981$670
24 years$2,657$2,050$1,563$1,179$882$590
25 years$2,524$1,924$1,448$1,077$794$520
26 years$2,401$1,808$1,343$985$715$458
27 years$2,287$1,702$1,247$901$645$405
28 years$2,182$1,604$1,159$826$582$357
29 years$2,084$1,513$1,079$757$525$316
30 years$1,993$1,429$1,005$695$475$279
31 years$1,908$1,351$937$638$429$247
32 years$1,828$1,278$874$587$388$218
33 years$1,753$1,210$816$539$351$193
34 years$1,683$1,147$762$496$318$171
35 years$1,617$1,088$713$457$288$152
36 years$1,555$1,033$667$421$261$134
37 years$1,496$981$624$388$237$119
38 years$1,441$932$584$357$214$105
39 years$1,388$886$548$330$194$93
40 years$1,338$843$513$304$176$83
41 years$1,291$803$481$280$160$73
42 years$1,246$764$451$259$145$65
43 years$1,204$728$424$239$132$58
44 years$1,163$694$398$221$120$51
45 years$1,125$662$373$204$109$45
46 years$1,088$632$351$188$99$40
47 years$1,052$603$329$174$90$36
48 years$1,019$575$310$161$81$32
49 years$987$549$291$148$74$28
50 years$956$525$274$137$67$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $979,000, adding $5,915 every year, while hoping to spend $34,401 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: 56/27/17 Blend
60$979,000$979,000$979,000$979,000
61$1,084,959$1,033,072$1,017,898$1,140,523
62$1,159,023$1,047,090$1,015,395$1,193,007
63$1,239,488$1,060,643$1,011,655$1,245,932
64$1,326,971$1,073,669$1,006,601$1,302,812
65$1,422,150$1,086,108$1,000,151$1,364,032
66$1,525,773$1,097,890$992,219$1,430,019
67$1,638,660$1,108,945$982,716$1,501,245
68$1,761,715$1,119,195$971,549$1,578,228
69$1,895,932$1,128,558$958,619$1,661,542
70$2,042,407$1,136,947$943,822$1,751,820
71$2,202,346$1,144,270$927,053$1,849,761
72$2,377,073$1,150,428$908,198$1,956,136
73$2,568,051$1,155,315$887,138$2,071,796
74$2,776,886$1,158,820$863,752$2,197,680
75$3,005,350$1,160,824$837,909$2,334,824
76$3,255,392$1,161,200$809,475$2,484,372
77$3,529,158$1,159,815$778,309$2,647,586
78$3,829,013$1,156,526$744,262$2,825,858
79$4,157,558$1,151,182$707,182$3,020,726
80$4,517,662$1,143,623$666,905$3,233,885
81$4,912,482$1,133,679$623,265$3,467,205
82$5,345,495$1,121,169$576,084$3,722,751
83$5,820,531$1,105,902$525,178$4,002,801
84$6,341,810$1,087,676$470,356$4,309,866
85$6,913,977$1,066,275$411,416$4,646,719
86$7,542,153$1,041,473$348,149$5,016,417
87$8,231,976$1,013,028$280,335$5,422,334
88$8,989,658$980,686$207,746$5,868,191
89$9,822,040$944,177$130,143$6,358,093
90$10,736,662$903,215$47,276$6,896,566
91$11,741,827$857,499$0$7,488,604
92$12,846,685$806,708$0$8,147,182
93$14,061,315$750,505$0$8,880,545
94$15,396,822$688,532$0$9,686,860
95$16,865,440$620,413$0$10,573,570
96$18,480,649$545,747$0$11,548,880
97$20,257,299$464,112$0$12,621,835
98$22,211,754$375,064$0$13,802,407
99$24,362,042$278,131$0$15,101,588
100$26,728,027$172,816$0$16,531,494