Can I retire at age 61 with 985,000?

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 $985,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$81,340$80,616$79,909$79,219$78,545$77,757
2 years$40,268$39,518$38,791$38,086$37,403$36,609
3 years$26,578$25,825$25,100$24,402$23,730$22,955
4 years$19,735$18,984$18,267$17,580$16,924$16,174
5 years$15,630$14,884$14,176$13,503$12,866$12,143
6 years$12,895$12,154$11,456$10,799$10,180$9,485
7 years$10,941$10,207$9,520$8,878$8,279$7,613
8 years$9,477$8,749$8,074$7,448$6,868$6,230
9 years$8,339$7,618$6,954$6,344$5,784$5,174
10 years$7,429$6,715$6,063$5,468$4,928$4,346
11 years$6,684$5,978$5,337$4,759$4,239$3,683
12 years$6,065$5,365$4,737$4,174$3,673$3,145
13 years$5,541$4,849$4,232$3,685$3,203$2,700
14 years$5,092$4,407$3,802$3,271$2,808$2,331
15 years$4,704$4,026$3,433$2,918$2,472$2,020
16 years$4,364$3,694$3,113$2,612$2,185$1,756
17 years$4,065$3,402$2,832$2,347$1,937$1,532
18 years$3,799$3,143$2,586$2,115$1,723$1,339
19 years$3,561$2,913$2,367$1,911$1,535$1,174
20 years$3,348$2,707$2,172$1,731$1,371$1,030
21 years$3,155$2,522$1,998$1,571$1,227$906
22 years$2,980$2,354$1,842$1,428$1,100$798
23 years$2,820$2,202$1,700$1,301$987$703
24 years$2,674$2,063$1,573$1,187$888$621
25 years$2,539$1,936$1,456$1,084$799$548
26 years$2,416$1,819$1,351$991$719$485
27 years$2,301$1,712$1,254$907$649$429
28 years$2,195$1,613$1,166$831$585$380
29 years$2,097$1,522$1,085$762$528$336
30 years$2,005$1,437$1,011$699$477$298
31 years$1,919$1,359$942$642$432$264
32 years$1,839$1,286$879$590$391$234
33 years$1,764$1,218$821$543$353$208
34 years$1,693$1,154$767$499$320$185
35 years$1,627$1,095$717$460$290$164
36 years$1,564$1,039$671$423$263$146
37 years$1,505$987$628$390$238$129
38 years$1,450$938$588$360$216$115
39 years$1,397$892$551$332$196$102
40 years$1,347$848$516$306$177$91
41 years$1,299$808$484$282$161$81
42 years$1,254$769$454$260$146$72
43 years$1,211$733$426$240$133$64
44 years$1,170$698$400$222$120$57
45 years$1,131$666$376$205$109$50
46 years$1,094$635$353$189$99$45
47 years$1,059$606$331$175$90$40
48 years$1,025$579$311$162$82$35
49 years$993$553$293$149$74$31
50 years$962$528$275$138$67$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $985,000, adding $5,361 every year, while hoping to spend $54,092 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: 44/47/9 Blend
60$985,000$985,000$985,000$985,000
61$1,091,000$1,038,795$1,023,527$1,135,972
62$1,144,728$1,032,142$1,000,262$1,161,054
63$1,202,124$1,023,351$974,404$1,182,274
64$1,263,505$1,012,259$945,811$1,204,040
65$1,329,217$998,694$914,330$1,226,423
66$1,399,642$982,475$879,805$1,249,504
67$1,475,198$963,409$842,071$1,273,375
68$1,556,343$941,291$800,956$1,298,142
69$1,643,582$915,906$756,279$1,323,926
70$1,737,466$887,025$707,854$1,350,865
71$1,838,604$854,405$655,483$1,379,115
72$1,947,661$817,790$598,961$1,408,855
73$2,065,369$776,908$538,073$1,440,286
74$2,192,534$731,474$472,595$1,473,635
75$2,330,039$681,183$402,294$1,509,161
76$2,478,856$625,714$326,924$1,547,154
77$2,640,054$564,729$246,231$1,587,941
78$2,814,807$497,868$159,947$1,631,890
79$3,004,408$424,754$67,796$1,679,416
80$3,210,276$344,986$0$1,730,982
81$3,433,975$258,140$0$1,790,045
82$3,677,222$163,771$0$1,861,392
83$3,941,910$61,407$0$1,939,190
84$4,230,119$0$0$2,024,204
85$4,544,138$0$0$2,142,859
86$4,886,487$0$0$2,306,952
87$5,259,940$0$0$2,486,066
88$5,667,548$0$0$2,681,679
89$6,112,672$0$0$2,895,419
90$6,599,010$0$0$3,129,077
91$7,130,634$0$0$3,384,625
92$7,712,027$0$0$3,664,236
93$8,348,126$0$0$3,970,299
94$9,044,365$0$0$4,305,449
95$9,806,730$0$0$4,672,585
96$10,641,810$0$0$5,074,900
97$11,556,865$0$0$5,515,911
98$12,559,888$0$0$5,999,492
99$13,659,681$0$0$6,529,907
100$14,865,943$0$0$7,111,857