Can I retire at age 61 with 984,000?

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 $984,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$81,258$80,534$79,828$79,139$78,466$76,787
2 years$40,227$39,477$38,751$38,047$37,365$35,682
3 years$26,551$25,799$25,075$24,377$23,706$22,071
4 years$19,715$18,965$18,248$17,562$16,907$15,333
5 years$15,614$14,869$14,161$13,490$12,852$11,344
6 years$12,881$12,141$11,444$10,788$10,170$8,728
7 years$10,930$10,196$9,510$8,869$8,271$6,896
8 years$9,467$8,740$8,065$7,440$6,861$5,553
9 years$8,330$7,610$6,947$6,337$5,778$4,536
10 years$7,421$6,708$6,056$5,463$4,923$3,745
11 years$6,678$5,972$5,332$4,754$4,234$3,119
12 years$6,059$5,360$4,732$4,170$3,669$2,615
13 years$5,535$4,844$4,228$3,682$3,200$2,205
14 years$5,087$4,403$3,799$3,268$2,805$1,867
15 years$4,699$4,022$3,430$2,915$2,470$1,588
16 years$4,359$3,690$3,109$2,610$2,183$1,354
17 years$4,060$3,398$2,829$2,345$1,935$1,157
18 years$3,795$3,140$2,583$2,113$1,721$992
19 years$3,558$2,910$2,365$1,909$1,534$851
20 years$3,344$2,704$2,170$1,729$1,370$732
21 years$3,152$2,519$1,996$1,569$1,226$630
22 years$2,977$2,351$1,840$1,427$1,099$543
23 years$2,817$2,199$1,699$1,300$986$469
24 years$2,671$2,061$1,571$1,185$887$405
25 years$2,537$1,934$1,455$1,083$798$350
26 years$2,413$1,817$1,349$990$719$302
27 years$2,299$1,710$1,253$906$648$262
28 years$2,193$1,612$1,165$830$585$226
29 years$2,095$1,520$1,084$761$528$196
30 years$2,003$1,436$1,010$699$477$170
31 years$1,917$1,357$941$642$431$147
32 years$1,837$1,284$878$590$390$127
33 years$1,762$1,216$820$542$353$110
34 years$1,692$1,153$766$499$320$96
35 years$1,625$1,093$716$459$290$83
36 years$1,563$1,038$670$423$262$72
37 years$1,504$986$627$390$238$62
38 years$1,448$937$587$359$216$54
39 years$1,395$891$550$331$195$47
40 years$1,345$847$516$305$177$41
41 years$1,298$807$484$282$161$35
42 years$1,253$768$454$260$146$31
43 years$1,210$732$426$240$132$27
44 years$1,169$698$400$222$120$23
45 years$1,130$665$375$205$109$20
46 years$1,093$635$352$189$99$17
47 years$1,058$606$331$175$90$15
48 years$1,024$578$311$161$82$13
49 years$992$552$292$149$74$11
50 years$961$528$275$138$67$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $984,000, adding $3,375 every year, while hoping to spend $29,994 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: 36/37/27 Blend
60$984,000$984,000$984,000$984,000
61$1,087,849$1,035,697$1,020,445$1,118,085
62$1,166,897$1,054,533$1,022,717$1,159,650
63$1,253,001$1,073,287$1,024,059$1,201,527
64$1,346,852$1,091,922$1,024,410$1,246,157
65$1,449,206$1,110,401$1,023,702$1,293,806
66$1,560,896$1,128,682$1,021,868$1,344,770
67$1,682,841$1,146,721$1,018,834$1,399,375
68$1,816,050$1,164,470$1,014,524$1,457,983
69$1,961,636$1,181,878$1,008,859$1,520,993
70$2,120,823$1,198,889$1,001,756$1,588,846
71$2,294,958$1,215,446$993,126$1,662,029
72$2,485,526$1,231,485$982,878$1,741,082
73$2,694,161$1,246,940$970,916$1,826,600
74$2,922,663$1,261,737$957,139$1,919,241
75$3,173,014$1,275,802$941,443$2,019,732
76$3,447,396$1,289,051$923,716$2,128,876
77$3,748,213$1,301,397$903,843$2,247,562
78$4,078,113$1,312,747$881,703$2,376,770
79$4,440,011$1,323,003$857,171$2,517,582
80$4,837,120$1,332,057$830,114$2,671,196
81$5,272,977$1,339,799$800,394$2,838,933
82$5,751,479$1,346,108$767,866$3,022,252
83$6,276,920$1,350,856$732,379$3,222,765
84$6,854,027$1,353,910$693,775$3,442,251
85$7,488,010$1,355,124$651,888$3,682,675
86$8,184,607$1,354,346$606,548$3,946,206
87$8,950,142$1,351,413$557,572$4,235,240
88$9,791,579$1,346,154$504,772$4,552,419
89$10,716,590$1,338,386$447,952$4,900,663
90$11,733,630$1,327,915$386,907$5,283,193
91$12,852,013$1,314,535$321,420$5,703,564
92$14,081,999$1,298,029$251,269$6,165,700
93$15,434,895$1,278,164$176,219$6,673,931
94$16,923,157$1,254,697$96,025$7,233,037
95$18,560,510$1,227,368$10,433$7,848,290
96$20,362,076$1,195,903$0$8,525,508
97$22,344,515$1,160,010$0$9,294,421
98$24,526,187$1,119,381$0$10,143,524
99$26,927,319$1,073,692$0$11,077,707
100$29,570,200$1,022,597$0$12,105,678