Can I retire at age 61 with 981,000?

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 $981,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$81,010$80,288$79,584$78,897$78,226$77,026
2 years$40,104$39,357$38,633$37,931$37,251$36,044
3 years$26,470$25,720$24,998$24,303$23,633$22,458
4 years$19,655$18,907$18,192$17,509$16,855$15,721
5 years$15,567$14,823$14,118$13,449$12,813$11,722
6 years$12,842$12,104$11,409$10,755$10,139$9,093
7 years$10,897$10,165$9,481$8,842$8,245$7,245
8 years$9,438$8,714$8,041$7,418$6,840$5,885
9 years$8,305$7,587$6,926$6,318$5,761$4,850
10 years$7,398$6,687$6,038$5,446$4,908$4,042
11 years$6,657$5,953$5,316$4,740$4,221$3,398
12 years$6,040$5,343$4,718$4,157$3,658$2,877
13 years$5,518$4,829$4,215$3,670$3,190$2,450
14 years$5,071$4,389$3,787$3,258$2,796$2,096
15 years$4,684$4,010$3,419$2,906$2,462$1,800
16 years$4,346$3,679$3,100$2,602$2,176$1,552
17 years$4,048$3,388$2,821$2,338$1,929$1,341
18 years$3,783$3,131$2,575$2,107$1,716$1,161
19 years$3,547$2,902$2,357$1,904$1,529$1,008
20 years$3,334$2,696$2,163$1,724$1,366$877
21 years$3,142$2,511$1,990$1,565$1,222$763
22 years$2,968$2,344$1,834$1,423$1,096$666
23 years$2,808$2,193$1,693$1,296$983$581
24 years$2,663$2,054$1,566$1,182$884$508
25 years$2,529$1,928$1,451$1,079$795$444
26 years$2,406$1,812$1,345$987$716$388
27 years$2,292$1,705$1,249$903$646$340
28 years$2,186$1,607$1,161$828$583$298
29 years$2,088$1,516$1,081$759$526$261
30 years$1,997$1,432$1,007$696$476$229
31 years$1,912$1,353$938$640$430$201
32 years$1,832$1,280$876$588$389$176
33 years$1,757$1,213$818$541$352$155
34 years$1,687$1,149$764$497$319$136
35 years$1,620$1,090$714$458$289$119
36 years$1,558$1,035$668$422$262$105
37 years$1,499$983$625$389$237$92
38 years$1,444$934$586$358$215$81
39 years$1,391$888$549$330$195$71
40 years$1,341$845$514$305$177$62
41 years$1,294$804$482$281$160$55
42 years$1,249$766$452$259$146$48
43 years$1,206$730$424$239$132$42
44 years$1,166$696$398$221$120$37
45 years$1,127$663$374$204$109$33
46 years$1,090$633$351$189$99$29
47 years$1,055$604$330$174$90$25
48 years$1,021$577$310$161$81$22
49 years$989$551$292$149$74$20
50 years$958$526$274$138$67$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $981,000, adding $5,269 every year, while hoping to spend $34,688 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: 45/36/19 Blend
60$981,000$981,000$981,000$981,000
61$1,086,497$1,034,504$1,019,298$1,129,239
62$1,160,412$1,048,287$1,016,537$1,173,516
63$1,240,704$1,061,583$1,012,521$1,217,646
64$1,327,986$1,074,331$1,007,171$1,264,777
65$1,422,934$1,086,466$1,000,404$1,315,202
66$1,526,290$1,097,921$992,135$1,369,248
67$1,638,873$1,108,620$982,273$1,427,273
68$1,761,582$1,118,486$970,723$1,489,677
69$1,895,407$1,127,435$957,386$1,556,900
70$2,041,437$1,135,378$942,157$1,629,426
71$2,200,873$1,142,221$924,928$1,707,795
72$2,375,034$1,147,862$905,585$1,792,601
73$2,565,374$1,152,193$884,009$1,884,501
74$2,773,493$1,155,102$860,075$1,984,220
75$3,001,154$1,156,467$833,652$2,092,562
76$3,250,297$1,156,158$804,604$2,210,413
77$3,523,057$1,154,040$772,788$2,338,752
78$3,821,787$1,149,967$738,055$2,478,664
79$4,149,079$1,143,784$700,249$2,631,342
80$4,507,784$1,135,329$659,206$2,798,110
81$4,901,046$1,124,428$614,757$2,980,425
82$5,332,324$1,110,897$566,724$3,179,901
83$5,805,431$1,094,541$514,919$3,398,316
84$6,324,565$1,075,153$459,149$3,637,638
85$6,894,351$1,052,516$399,210$3,900,037
86$7,519,882$1,026,396$334,891$4,187,910
87$8,206,770$996,550$265,971$4,503,904
88$8,961,197$962,717$192,216$4,850,941
89$9,789,971$924,622$113,387$5,232,247
90$10,700,594$881,974$29,232$5,651,382
91$11,701,329$834,466$0$6,112,276
92$12,801,283$781,772$0$6,631,550
93$14,010,483$723,549$0$7,208,832
94$15,339,981$659,432$0$7,843,533
95$16,801,952$589,036$0$8,541,543
96$18,409,808$511,956$0$9,309,361
97$20,178,328$427,762$0$10,154,154
98$22,123,796$336,000$0$11,083,822
99$24,264,150$236,191$0$12,107,083
100$26,619,157$127,828$0$13,233,546