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%16.5%
1 years$81,010$80,288$79,584$78,897$78,226$76,150
2 years$40,104$39,357$38,633$37,931$37,251$35,173
3 years$26,470$25,720$24,998$24,303$23,633$21,620
4 years$19,655$18,907$18,192$17,509$16,855$14,921
5 years$15,567$14,823$14,118$13,449$12,813$10,964
6 years$12,842$12,104$11,409$10,755$10,139$8,376
7 years$10,897$10,165$9,481$8,842$8,245$6,569
8 years$9,438$8,714$8,041$7,418$6,840$5,250
9 years$8,305$7,587$6,926$6,318$5,761$4,255
10 years$7,398$6,687$6,038$5,446$4,908$3,485
11 years$6,657$5,953$5,316$4,740$4,221$2,878
12 years$6,040$5,343$4,718$4,157$3,658$2,393
13 years$5,518$4,829$4,215$3,670$3,190$2,000
14 years$5,071$4,389$3,787$3,258$2,796$1,679
15 years$4,684$4,010$3,419$2,906$2,462$1,414
16 years$4,346$3,679$3,100$2,602$2,176$1,195
17 years$4,048$3,388$2,821$2,338$1,929$1,012
18 years$3,783$3,131$2,575$2,107$1,716$859
19 years$3,547$2,902$2,357$1,904$1,529$730
20 years$3,334$2,696$2,163$1,724$1,366$622
21 years$3,142$2,511$1,990$1,565$1,222$530
22 years$2,968$2,344$1,834$1,423$1,096$452
23 years$2,808$2,193$1,693$1,296$983$386
24 years$2,663$2,054$1,566$1,182$884$330
25 years$2,529$1,928$1,451$1,079$795$282
26 years$2,406$1,812$1,345$987$716$242
27 years$2,292$1,705$1,249$903$646$207
28 years$2,186$1,607$1,161$828$583$177
29 years$2,088$1,516$1,081$759$526$152
30 years$1,997$1,432$1,007$696$476$130
31 years$1,912$1,353$938$640$430$111
32 years$1,832$1,280$876$588$389$96
33 years$1,757$1,213$818$541$352$82
34 years$1,687$1,149$764$497$319$70
35 years$1,620$1,090$714$458$289$60
36 years$1,558$1,035$668$422$262$52
37 years$1,499$983$625$389$237$44
38 years$1,444$934$586$358$215$38
39 years$1,391$888$549$330$195$33
40 years$1,341$845$514$305$177$28
41 years$1,294$804$482$281$160$24
42 years$1,249$766$452$259$146$21
43 years$1,206$730$424$239$132$18
44 years$1,166$696$398$221$120$15
45 years$1,127$663$374$204$109$13
46 years$1,090$633$351$189$99$11
47 years$1,055$604$330$174$90$10
48 years$1,021$577$310$161$81$8
49 years$989$551$292$149$74$7
50 years$958$526$274$138$67$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $981,000, adding $5,799 every year, while hoping to spend $28,943 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: 48/36/16 Blend
60$981,000$981,000$981,000$981,000
61$1,087,044$1,035,051$1,019,845$1,134,090
62$1,167,127$1,054,973$1,023,215$1,187,178
63$1,254,409$1,074,902$1,025,727$1,241,358
64$1,349,593$1,094,806$1,027,323$1,299,559
65$1,453,453$1,114,654$1,027,941$1,362,169
66$1,566,843$1,134,409$1,027,514$1,429,614
67$1,690,700$1,154,034$1,025,975$1,502,365
68$1,826,058$1,173,489$1,023,252$1,580,942
69$1,974,054$1,192,728$1,019,269$1,665,917
70$2,135,941$1,211,704$1,013,948$1,757,921
71$2,313,096$1,230,367$1,007,204$1,857,652
72$2,507,039$1,248,662$998,953$1,965,877
73$2,719,442$1,266,531$989,102$2,083,444
74$2,952,145$1,283,911$977,557$2,211,287
75$3,207,176$1,300,736$964,218$2,350,437
76$3,486,769$1,316,933$948,980$2,502,032
77$3,793,383$1,332,426$931,735$2,667,325
78$4,129,727$1,347,133$912,366$2,847,700
79$4,498,784$1,360,968$890,756$3,044,683
80$4,903,842$1,373,838$866,778$3,259,956
81$5,348,521$1,385,642$840,302$3,495,374
82$5,836,808$1,396,277$811,190$3,752,987
83$6,373,096$1,405,629$779,299$4,035,050
84$6,962,226$1,413,578$744,479$4,344,054
85$7,609,527$1,419,998$706,574$4,682,745
86$8,320,874$1,424,753$665,419$5,054,151
87$9,102,736$1,427,698$620,843$5,461,614
88$9,962,241$1,428,682$572,668$5,908,814
89$10,907,244$1,427,541$520,706$6,399,816
90$11,946,395$1,424,104$464,763$6,939,098
91$13,089,229$1,418,186$404,634$7,531,600
92$14,346,247$1,409,593$340,105$8,182,768
93$15,729,021$1,398,120$270,956$8,898,610
94$17,250,301$1,383,548$196,953$9,685,749
95$18,924,134$1,365,645$117,853$10,551,487
96$20,765,999$1,344,165$33,405$11,503,878
97$22,792,950$1,318,848$0$12,551,801
98$25,023,778$1,289,418$0$13,714,729
99$27,479,187$1,255,583$0$15,000,488
100$30,181,992$1,217,035$0$16,415,321