Can I retire at age 61 with 984,000?

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 $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%14.6%
1 years$81,258$80,534$79,828$79,139$78,466$76,976
2 years$40,227$39,477$38,751$38,047$37,365$35,869
3 years$26,551$25,799$25,075$24,377$23,706$22,252
4 years$19,715$18,965$18,248$17,562$16,907$15,506
5 years$15,614$14,869$14,161$13,490$12,852$11,508
6 years$12,881$12,141$11,444$10,788$10,170$8,883
7 years$10,930$10,196$9,510$8,869$8,271$7,042
8 years$9,467$8,740$8,065$7,440$6,861$5,691
9 years$8,330$7,610$6,947$6,337$5,778$4,665
10 years$7,421$6,708$6,056$5,463$4,923$3,866
11 years$6,678$5,972$5,332$4,754$4,234$3,232
12 years$6,059$5,360$4,732$4,170$3,669$2,720
13 years$5,535$4,844$4,228$3,682$3,200$2,303
14 years$5,087$4,403$3,799$3,268$2,805$1,958
15 years$4,699$4,022$3,430$2,915$2,470$1,672
16 years$4,359$3,690$3,109$2,610$2,183$1,432
17 years$4,060$3,398$2,829$2,345$1,935$1,229
18 years$3,795$3,140$2,583$2,113$1,721$1,058
19 years$3,558$2,910$2,365$1,909$1,534$912
20 years$3,344$2,704$2,170$1,729$1,370$788
21 years$3,152$2,519$1,996$1,569$1,226$681
22 years$2,977$2,351$1,840$1,427$1,099$590
23 years$2,817$2,199$1,699$1,300$986$511
24 years$2,671$2,061$1,571$1,185$887$444
25 years$2,537$1,934$1,455$1,083$798$385
26 years$2,413$1,817$1,349$990$719$335
27 years$2,299$1,710$1,253$906$648$291
28 years$2,193$1,612$1,165$830$585$253
29 years$2,095$1,520$1,084$761$528$220
30 years$2,003$1,436$1,010$699$477$192
31 years$1,917$1,357$941$642$431$167
32 years$1,837$1,284$878$590$390$145
33 years$1,762$1,216$820$542$353$127
34 years$1,692$1,153$766$499$320$110
35 years$1,625$1,093$716$459$290$96
36 years$1,563$1,038$670$423$262$84
37 years$1,504$986$627$390$238$73
38 years$1,448$937$587$359$216$64
39 years$1,395$891$550$331$195$56
40 years$1,345$847$516$305$177$48
41 years$1,298$807$484$282$161$42
42 years$1,253$768$454$260$146$37
43 years$1,210$732$426$240$132$32
44 years$1,169$698$400$222$120$28
45 years$1,130$665$375$205$109$24
46 years$1,093$635$352$189$99$21
47 years$1,058$606$331$175$90$19
48 years$1,024$578$311$161$82$16
49 years$992$552$292$149$74$14
50 years$961$528$275$138$67$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $984,000, adding $6,833 every year, while hoping to spend $42,139 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: 30/45/25 Blend
60$984,000$984,000$984,000$984,000
61$1,091,416$1,039,264$1,024,012$1,115,556
62$1,157,905$1,045,353$1,013,481$1,140,856
63$1,229,764$1,050,327$1,001,185$1,163,870
64$1,307,495$1,054,088$987,020$1,187,773
65$1,391,652$1,056,531$970,878$1,212,669
66$1,482,843$1,057,544$952,645$1,238,678
67$1,581,737$1,057,007$932,202$1,265,935
68$1,689,068$1,054,795$909,425$1,294,590
69$1,805,646$1,050,773$884,184$1,324,815
70$1,932,361$1,044,800$856,343$1,356,800
71$2,070,190$1,036,723$825,759$1,390,763
72$2,220,211$1,026,384$792,283$1,426,944
73$2,383,608$1,013,613$755,760$1,465,615
74$2,561,685$998,229$716,027$1,507,080
75$2,755,877$980,042$672,914$1,551,681
76$2,967,763$958,851$626,243$1,599,797
77$3,199,081$934,440$575,828$1,651,855
78$3,451,744$906,585$521,476$1,708,331
79$3,727,860$875,045$462,983$1,769,754
80$4,029,746$839,567$400,137$1,836,719
81$4,359,957$799,882$332,718$1,909,884
82$4,721,303$755,707$260,495$1,989,987
83$5,116,880$706,741$183,226$2,077,846
84$5,550,097$652,667$100,659$2,174,374
85$6,024,708$593,149$12,533$2,280,586
86$6,544,848$527,832$0$2,397,610
87$7,115,068$456,342$0$2,548,445
88$7,740,384$378,282$0$2,717,721
89$8,426,320$293,234$0$2,903,720
90$9,178,958$200,756$0$3,108,244
91$10,004,999$100,380$0$3,333,287
92$10,911,825$0$0$3,581,056
93$11,907,566$0$0$3,858,144
94$13,001,179$0$0$4,217,220
95$14,202,530$0$0$4,611,836
96$15,522,488$0$0$5,045,583
97$16,973,029$0$0$5,522,418
98$18,567,342$0$0$6,046,699
99$20,319,963$0$0$6,623,228
100$22,246,901$0$0$7,257,295