Can I retire at age 61 with 986,000?

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 $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%17.3%
1 years$81,423$80,698$79,990$79,299$78,625$76,292
2 years$40,308$39,558$38,830$38,125$37,440$35,109
3 years$26,605$25,851$25,126$24,427$23,754$21,497
4 years$19,755$19,004$18,285$17,598$16,941$14,777
5 years$15,646$14,899$14,190$13,517$12,879$10,812
6 years$12,908$12,166$11,468$10,810$10,190$8,224
7 years$10,952$10,217$9,530$8,887$8,288$6,421
8 years$9,487$8,758$8,082$7,455$6,875$5,107
9 years$8,347$7,625$6,961$6,350$5,790$4,119
10 years$7,436$6,721$6,069$5,474$4,933$3,357
11 years$6,691$5,984$5,343$4,764$4,243$2,758
12 years$6,071$5,371$4,742$4,179$3,677$2,281
13 years$5,546$4,853$4,236$3,689$3,206$1,897
14 years$5,097$4,412$3,806$3,275$2,811$1,583
15 years$4,708$4,030$3,437$2,921$2,475$1,326
16 years$4,368$3,698$3,116$2,615$2,187$1,114
17 years$4,069$3,405$2,835$2,350$1,939$938
18 years$3,803$3,147$2,588$2,117$1,724$792
19 years$3,565$2,916$2,369$1,913$1,537$669
20 years$3,351$2,710$2,174$1,733$1,373$566
21 years$3,158$2,524$2,000$1,573$1,228$479
22 years$2,983$2,356$1,843$1,430$1,101$407
23 years$2,823$2,204$1,702$1,302$988$345
24 years$2,676$2,065$1,574$1,188$888$293
25 years$2,542$1,938$1,458$1,085$799$249
26 years$2,418$1,821$1,352$992$720$212
27 years$2,304$1,714$1,256$908$649$180
28 years$2,198$1,615$1,167$832$586$153
29 years$2,099$1,524$1,086$763$529$130
30 years$2,007$1,439$1,012$700$478$111
31 years$1,921$1,360$943$643$432$94
32 years$1,841$1,287$880$591$391$80
33 years$1,766$1,219$822$543$354$69
34 years$1,695$1,155$768$500$320$58
35 years$1,629$1,096$718$460$290$50
36 years$1,566$1,040$672$424$263$42
37 years$1,507$988$629$391$238$36
38 years$1,451$939$589$360$216$31
39 years$1,398$893$551$332$196$26
40 years$1,348$849$517$306$178$22
41 years$1,300$808$485$282$161$19
42 years$1,255$770$455$261$146$16
43 years$1,212$734$427$241$133$14
44 years$1,172$699$400$222$120$12
45 years$1,133$667$376$205$109$10
46 years$1,095$636$353$190$99$9
47 years$1,060$607$332$175$90$7
48 years$1,026$579$312$162$82$6
49 years$994$553$293$150$74$5
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 $3,988 every year, while hoping to spend $41,739 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: 27/47/26 Blend
60$986,000$986,000$986,000$986,000
61$1,090,686$1,038,428$1,023,145$1,111,184
62$1,157,526$1,044,901$1,013,010$1,134,416
63$1,229,784$1,050,292$1,001,137$1,155,466
64$1,307,970$1,054,504$987,423$1,177,207
65$1,392,643$1,057,435$971,762$1,199,725
66$1,484,417$1,058,973$954,040$1,223,120
67$1,583,968$1,059,004$934,141$1,247,502
68$1,692,040$1,057,402$911,942$1,273,000
69$1,809,450$1,054,037$887,314$1,299,757
70$1,937,098$1,048,769$860,123$1,327,936
71$2,075,974$1,041,450$830,228$1,357,722
72$2,227,165$1,031,922$797,483$1,389,321
73$2,391,870$1,020,021$761,733$1,422,966
74$2,571,407$1,005,568$722,817$1,458,920
75$2,767,227$988,378$680,569$1,497,476
76$2,980,928$968,252$634,811$1,538,967
77$3,214,266$944,980$585,361$1,583,761
78$3,469,178$918,340$532,027$1,632,274
79$3,747,792$888,098$474,608$1,684,969
80$4,052,456$854,003$412,896$1,742,367
81$4,385,750$815,792$346,671$1,805,046
82$4,750,518$773,188$275,707$1,873,655
83$5,149,892$725,895$199,764$1,948,915
84$5,587,318$673,601$118,593$2,031,632
85$6,066,594$615,978$31,936$2,122,704
86$6,591,902$552,676$0$2,223,130
87$7,167,846$483,327$0$2,350,820
88$7,799,499$407,542$0$2,500,762
89$8,492,447$324,911$0$2,665,546
90$9,252,844$235,000$0$2,846,789
91$10,087,468$137,348$0$3,046,280
92$11,003,785$31,474$0$3,266,001
93$12,010,019$0$0$3,508,147
94$13,115,230$0$0$3,818,143
95$14,329,399$0$0$4,176,756
96$15,663,520$0$0$4,570,976
97$17,129,706$0$0$5,004,404
98$18,741,300$0$0$5,481,008
99$20,513,005$0$0$6,005,160
100$22,461,017$0$0$6,581,675