Can I retire at age 61 with 986,000?

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 $986,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$81,423$80,698$79,990$79,299$78,625$76,384
2 years$40,308$39,558$38,830$38,125$37,440$35,200
3 years$26,605$25,851$25,126$24,427$23,754$21,584
4 years$19,755$19,004$18,285$17,598$16,941$14,859
5 years$15,646$14,899$14,190$13,517$12,879$10,890
6 years$12,908$12,166$11,468$10,810$10,190$8,296
7 years$10,952$10,217$9,530$8,887$8,288$6,489
8 years$9,487$8,758$8,082$7,455$6,875$5,170
9 years$8,347$7,625$6,961$6,350$5,790$4,177
10 years$7,436$6,721$6,069$5,474$4,933$3,411
11 years$6,691$5,984$5,343$4,764$4,243$2,808
12 years$6,071$5,371$4,742$4,179$3,677$2,327
13 years$5,546$4,853$4,236$3,689$3,206$1,938
14 years$5,097$4,412$3,806$3,275$2,811$1,622
15 years$4,708$4,030$3,437$2,921$2,475$1,361
16 years$4,368$3,698$3,116$2,615$2,187$1,146
17 years$4,069$3,405$2,835$2,350$1,939$967
18 years$3,803$3,147$2,588$2,117$1,724$818
19 years$3,565$2,916$2,369$1,913$1,537$693
20 years$3,351$2,710$2,174$1,733$1,373$587
21 years$3,158$2,524$2,000$1,573$1,228$499
22 years$2,983$2,356$1,843$1,430$1,101$424
23 years$2,823$2,204$1,702$1,302$988$361
24 years$2,676$2,065$1,574$1,188$888$307
25 years$2,542$1,938$1,458$1,085$799$261
26 years$2,418$1,821$1,352$992$720$223
27 years$2,304$1,714$1,256$908$649$190
28 years$2,198$1,615$1,167$832$586$162
29 years$2,099$1,524$1,086$763$529$138
30 years$2,007$1,439$1,012$700$478$118
31 years$1,921$1,360$943$643$432$101
32 years$1,841$1,287$880$591$391$86
33 years$1,766$1,219$822$543$354$73
34 years$1,695$1,155$768$500$320$63
35 years$1,629$1,096$718$460$290$54
36 years$1,566$1,040$672$424$263$46
37 years$1,507$988$629$391$238$39
38 years$1,451$939$589$360$216$33
39 years$1,398$893$551$332$196$29
40 years$1,348$849$517$306$178$24
41 years$1,300$808$485$282$161$21
42 years$1,255$770$455$261$146$18
43 years$1,212$734$427$241$133$15
44 years$1,172$699$400$222$120$13
45 years$1,133$667$376$205$109$11
46 years$1,095$636$353$190$99$9
47 years$1,060$607$332$175$90$8
48 years$1,026$579$312$162$82$7
49 years$994$553$293$150$74$6
50 years$963$529$276$138$68$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $986,000, adding $5,858 every year, while hoping to spend $23,086 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: 44/40/16 Blend
60$986,000$986,000$986,000$986,000
61$1,092,615$1,040,357$1,025,074$1,135,405
62$1,179,498$1,066,771$1,034,850$1,192,370
63$1,274,470$1,093,705$1,044,181$1,251,319
64$1,378,330$1,121,162$1,053,025$1,314,718
65$1,491,962$1,149,140$1,061,343$1,382,988
66$1,616,334$1,177,640$1,069,091$1,456,593
67$1,752,516$1,206,661$1,076,222$1,536,043
68$1,901,686$1,236,201$1,082,688$1,621,899
69$2,065,139$1,266,255$1,088,439$1,714,781
70$2,244,303$1,296,821$1,093,421$1,815,370
71$2,440,749$1,327,893$1,097,579$1,924,418
72$2,656,211$1,359,465$1,100,853$2,042,751
73$2,892,594$1,391,529$1,103,181$2,171,282
74$3,152,001$1,424,076$1,104,499$2,311,013
75$3,436,744$1,457,094$1,104,739$2,463,052
76$3,749,373$1,490,573$1,103,829$2,628,618
77$4,092,695$1,524,498$1,101,694$2,809,053
78$4,469,805$1,558,853$1,098,255$3,005,839
79$4,884,108$1,593,620$1,093,430$3,220,605
80$5,339,360$1,628,780$1,087,133$3,455,151
81$5,839,695$1,664,311$1,079,272$3,711,457
82$6,389,670$1,700,188$1,069,754$3,991,706
83$6,994,303$1,736,384$1,058,477$4,298,305
84$7,659,125$1,772,870$1,045,339$4,633,904
85$8,390,228$1,809,612$1,030,230$5,001,427
86$9,194,324$1,846,576$1,013,036$5,404,094
87$10,078,810$1,883,723$993,637$5,845,456
88$11,051,833$1,921,010$971,908$6,329,425
89$12,122,371$1,958,390$947,718$6,860,314
90$13,300,316$1,995,815$920,930$7,442,875
91$14,596,568$2,033,230$891,401$8,082,346
92$16,023,136$2,070,576$858,981$8,784,503
93$17,593,252$2,107,790$823,513$9,555,707
94$19,321,495$2,144,804$784,833$10,402,974
95$21,223,933$2,181,544$742,769$11,334,035
96$23,318,265$2,217,931$697,144$12,357,408
97$25,623,999$2,253,880$647,769$13,482,487
98$28,162,627$2,289,300$594,448$14,719,622
99$30,957,831$2,324,092$536,979$16,080,221
100$34,035,708$2,358,152$475,146$17,576,860