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%17.8%
1 years$81,340$80,616$79,909$79,219$78,545$76,061
2 years$40,268$39,518$38,791$38,086$37,403$34,923
3 years$26,578$25,825$25,100$24,402$23,730$21,332
4 years$19,735$18,984$18,267$17,580$16,924$14,626
5 years$15,630$14,884$14,176$13,503$12,866$10,674
6 years$12,895$12,154$11,456$10,799$10,180$8,096
7 years$10,941$10,207$9,520$8,878$8,279$6,303
8 years$9,477$8,749$8,074$7,448$6,868$4,999
9 years$8,339$7,618$6,954$6,344$5,784$4,020
10 years$7,429$6,715$6,063$5,468$4,928$3,266
11 years$6,684$5,978$5,337$4,759$4,239$2,675
12 years$6,065$5,365$4,737$4,174$3,673$2,205
13 years$5,541$4,849$4,232$3,685$3,203$1,827
14 years$5,092$4,407$3,802$3,271$2,808$1,520
15 years$4,704$4,026$3,433$2,918$2,472$1,269
16 years$4,364$3,694$3,113$2,612$2,185$1,062
17 years$4,065$3,402$2,832$2,347$1,937$891
18 years$3,799$3,143$2,586$2,115$1,723$749
19 years$3,561$2,913$2,367$1,911$1,535$630
20 years$3,348$2,707$2,172$1,731$1,371$531
21 years$3,155$2,522$1,998$1,571$1,227$448
22 years$2,980$2,354$1,842$1,428$1,100$379
23 years$2,820$2,202$1,700$1,301$987$320
24 years$2,674$2,063$1,573$1,187$888$271
25 years$2,539$1,936$1,456$1,084$799$229
26 years$2,416$1,819$1,351$991$719$194
27 years$2,301$1,712$1,254$907$649$164
28 years$2,195$1,613$1,166$831$585$139
29 years$2,097$1,522$1,085$762$528$118
30 years$2,005$1,437$1,011$699$477$100
31 years$1,919$1,359$942$642$432$85
32 years$1,839$1,286$879$590$391$72
33 years$1,764$1,218$821$543$353$61
34 years$1,693$1,154$767$499$320$52
35 years$1,627$1,095$717$460$290$44
36 years$1,564$1,039$671$423$263$37
37 years$1,505$987$628$390$238$32
38 years$1,450$938$588$360$216$27
39 years$1,397$892$551$332$196$23
40 years$1,347$848$516$306$177$19
41 years$1,299$808$484$282$161$16
42 years$1,254$769$454$260$146$14
43 years$1,211$733$426$240$133$12
44 years$1,170$698$400$222$120$10
45 years$1,131$666$376$205$109$9
46 years$1,094$635$353$189$99$7
47 years$1,059$606$331$175$90$6
48 years$1,025$579$311$162$82$5
49 years$993$553$293$149$74$4
50 years$962$528$275$138$67$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $985,000, adding $3,789 every year, while hoping to spend $54,647 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: 43/50/7 Blend
60$985,000$985,000$985,000$985,000
61$1,089,378$1,037,173$1,021,906$1,133,864
62$1,142,351$1,029,851$997,996$1,157,782
63$1,198,895$1,020,338$971,453$1,177,796
64$1,259,318$1,008,470$942,132$1,198,215
65$1,323,955$994,071$909,880$1,219,097
66$1,393,175$976,957$874,537$1,240,506
67$1,467,381$956,931$835,937$1,262,520
68$1,547,018$933,785$793,905$1,285,227
69$1,632,572$907,298$748,259$1,308,729
70$1,724,577$877,239$698,808$1,333,144
71$1,823,619$843,358$645,354$1,358,604
72$1,930,342$805,397$587,687$1,385,265
73$2,045,453$763,078$525,591$1,413,299
74$2,169,730$716,109$458,838$1,442,906
75$2,304,025$664,181$387,192$1,474,312
76$2,449,277$606,967$310,405$1,507,772
77$2,606,518$544,123$228,218$1,543,574
78$2,776,881$475,283$140,361$1,582,046
79$2,961,613$400,062$46,553$1,623,555
80$3,162,084$318,052$0$1,668,517
81$3,379,802$228,822$0$1,721,398
82$3,616,426$131,918$0$1,782,693
83$3,873,780$26,861$0$1,849,535
84$4,153,871$0$0$1,922,608
85$4,458,908$0$0$2,050,467
86$4,791,321$0$0$2,206,018
87$5,153,784$0$0$2,375,746
88$5,549,242$0$0$2,561,046
89$5,980,934$0$0$2,763,449
90$6,452,428$0$0$2,984,645
91$6,967,649$0$0$3,226,491
92$7,530,921$0$0$3,491,034
93$8,147,002$0$0$3,780,527
94$8,821,133$0$0$4,097,450
95$9,559,085$0$0$4,444,536
96$10,367,210$0$0$4,824,793
97$11,252,508$0$0$5,241,534
98$12,222,682$0$0$5,698,408
99$13,286,221$0$0$6,199,433
100$14,452,470$0$0$6,749,036