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%16.3%
1 years$81,258$80,534$79,828$79,139$78,466$76,445
2 years$40,227$39,477$38,751$38,047$37,365$35,342
3 years$26,551$25,799$25,075$24,377$23,706$21,745
4 years$19,715$18,965$18,248$17,562$16,907$15,023
5 years$15,614$14,869$14,161$13,490$12,852$11,050
6 years$12,881$12,141$11,444$10,788$10,170$8,451
7 years$10,930$10,196$9,510$8,869$8,271$6,636
8 years$9,467$8,740$8,065$7,440$6,861$5,309
9 years$8,330$7,610$6,947$6,337$5,778$4,308
10 years$7,421$6,708$6,056$5,463$4,923$3,533
11 years$6,678$5,972$5,332$4,754$4,234$2,922
12 years$6,059$5,360$4,732$4,170$3,669$2,432
13 years$5,535$4,844$4,228$3,682$3,200$2,036
14 years$5,087$4,403$3,799$3,268$2,805$1,711
15 years$4,699$4,022$3,430$2,915$2,470$1,444
16 years$4,359$3,690$3,109$2,610$2,183$1,221
17 years$4,060$3,398$2,829$2,345$1,935$1,036
18 years$3,795$3,140$2,583$2,113$1,721$881
19 years$3,558$2,910$2,365$1,909$1,534$750
20 years$3,344$2,704$2,170$1,729$1,370$639
21 years$3,152$2,519$1,996$1,569$1,226$546
22 years$2,977$2,351$1,840$1,427$1,099$466
23 years$2,817$2,199$1,699$1,300$986$399
24 years$2,671$2,061$1,571$1,185$887$341
25 years$2,537$1,934$1,455$1,083$798$292
26 years$2,413$1,817$1,349$990$719$251
27 years$2,299$1,710$1,253$906$648$215
28 years$2,193$1,612$1,165$830$585$184
29 years$2,095$1,520$1,084$761$528$158
30 years$2,003$1,436$1,010$699$477$136
31 years$1,917$1,357$941$642$431$117
32 years$1,837$1,284$878$590$390$100
33 years$1,762$1,216$820$542$353$86
34 years$1,692$1,153$766$499$320$74
35 years$1,625$1,093$716$459$290$63
36 years$1,563$1,038$670$423$262$55
37 years$1,504$986$627$390$238$47
38 years$1,448$937$587$359$216$40
39 years$1,395$891$550$331$195$35
40 years$1,345$847$516$305$177$30
41 years$1,298$807$484$282$161$26
42 years$1,253$768$454$260$146$22
43 years$1,210$732$426$240$132$19
44 years$1,169$698$400$222$120$16
45 years$1,130$665$375$205$109$14
46 years$1,093$635$352$189$99$12
47 years$1,058$606$331$175$90$10
48 years$1,024$578$311$161$82$9
49 years$992$552$292$149$74$8
50 years$961$528$275$138$67$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $984,000, adding $5,144 every year, while hoping to spend $50,678 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: 47/24/29 Blend
60$984,000$984,000$984,000$984,000
61$1,089,674$1,037,522$1,022,270$1,131,614
62$1,146,900$1,034,440$1,002,595$1,158,692
63$1,208,264$1,029,508$980,563$1,182,747
64$1,274,135$1,022,582$956,040$1,207,893
65$1,344,919$1,013,510$928,888$1,234,258
66$1,421,057$1,002,129$898,963$1,261,989
67$1,503,040$988,268$866,113$1,291,248
68$1,591,400$971,743$830,179$1,322,221
69$1,686,728$952,364$790,995$1,355,115
70$1,789,669$929,924$748,387$1,390,159
71$1,900,933$904,208$702,176$1,427,614
72$2,021,301$874,987$652,172$1,467,769
73$2,151,630$842,018$598,176$1,510,948
74$2,292,863$805,044$539,982$1,557,515
75$2,446,038$763,794$477,374$1,607,872
76$2,612,295$717,981$410,127$1,662,470
77$2,792,888$667,301$338,005$1,721,813
78$2,989,197$611,433$260,763$1,786,461
79$3,202,740$550,037$178,143$1,857,038
80$3,435,186$482,756$89,877$1,934,237
81$3,688,373$409,209$0$2,018,833
82$3,964,324$328,997$0$2,113,020
83$4,265,263$241,696$0$2,246,182
84$4,593,640$146,860$0$2,391,635
85$4,952,152$44,016$0$2,550,657
86$5,343,765$0$0$2,724,657
87$5,771,747$0$0$2,932,978
88$6,239,696$0$0$3,173,570
89$6,751,571$0$0$3,436,857
90$7,311,733$0$0$3,725,095
91$7,924,984$0$0$4,040,771
92$8,596,612$0$0$4,386,621
93$9,332,439$0$0$4,765,659
94$10,138,877$0$0$5,181,205
95$11,022,991$0$0$5,636,914
96$11,992,557$0$0$6,136,812
97$13,056,143$0$0$6,685,336
98$14,223,186$0$0$7,287,370
99$15,504,080$0$0$7,948,295
100$16,910,274$0$0$8,674,040