Can I retire at age 61 with 987,000?

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 $987,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$81,506$80,780$80,071$79,380$78,705$78,373
2 years$40,349$39,598$38,870$38,163$37,478$37,144
3 years$26,632$25,878$25,151$24,452$23,778$23,450
4 years$19,775$19,023$18,304$17,616$16,959$16,641
5 years$15,662$14,914$14,204$13,531$12,892$12,584
6 years$12,921$12,178$11,479$10,821$10,201$9,905
7 years$10,963$10,227$9,539$8,896$8,296$8,011
8 years$9,496$8,767$8,090$7,463$6,882$6,609
9 years$8,356$7,633$6,968$6,357$5,796$5,533
10 years$7,444$6,728$6,075$5,480$4,938$4,687
11 years$6,698$5,990$5,348$4,769$4,247$4,007
12 years$6,077$5,376$4,746$4,183$3,680$3,451
13 years$5,552$4,858$4,241$3,693$3,209$2,990
14 years$5,102$4,416$3,810$3,278$2,813$2,604
15 years$4,713$4,034$3,440$2,924$2,477$2,278
16 years$4,373$3,701$3,119$2,618$2,189$2,000
17 years$4,073$3,409$2,838$2,352$1,941$1,761
18 years$3,806$3,150$2,591$2,120$1,726$1,555
19 years$3,568$2,919$2,372$1,915$1,538$1,376
20 years$3,355$2,713$2,177$1,735$1,374$1,221
21 years$3,161$2,527$2,002$1,574$1,230$1,085
22 years$2,986$2,359$1,845$1,431$1,102$965
23 years$2,826$2,206$1,704$1,304$989$860
24 years$2,679$2,067$1,576$1,189$889$767
25 years$2,545$1,940$1,459$1,086$800$685
26 years$2,421$1,823$1,354$993$721$612
27 years$2,306$1,716$1,257$909$650$548
28 years$2,200$1,617$1,168$833$586$490
29 years$2,101$1,525$1,087$764$530$439
30 years$2,009$1,440$1,013$701$478$394
31 years$1,923$1,362$944$644$433$353
32 years$1,843$1,288$881$591$391$317
33 years$1,768$1,220$823$544$354$284
34 years$1,697$1,156$769$500$321$255
35 years$1,630$1,097$719$461$290$229
36 years$1,568$1,041$672$424$263$206
37 years$1,508$989$629$391$238$185
38 years$1,452$940$589$360$216$167
39 years$1,400$893$552$332$196$150
40 years$1,349$850$517$306$178$135
41 years$1,302$809$485$283$161$121
42 years$1,257$771$455$261$146$109
43 years$1,214$734$427$241$133$98
44 years$1,173$700$401$222$121$88
45 years$1,134$667$376$205$109$79
46 years$1,097$637$354$190$99$71
47 years$1,061$608$332$175$90$64
48 years$1,027$580$312$162$82$58
49 years$995$554$293$150$74$52
50 years$964$529$276$138$68$47

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $987,000, adding $5,990 every year, while hoping to spend $21,733 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: 46/38/16 Blend
60$987,000$987,000$987,000$987,000
61$1,093,853$1,041,542$1,026,243$1,138,937
62$1,182,302$1,069,453$1,037,499$1,198,838
63$1,279,045$1,098,005$1,048,403$1,261,115
64$1,384,904$1,127,203$1,058,921$1,328,209
65$1,500,785$1,157,058$1,069,016$1,400,576
66$1,627,687$1,187,576$1,078,650$1,478,720
67$1,766,709$1,218,764$1,087,782$1,563,194
68$1,919,060$1,250,631$1,096,370$1,654,607
69$2,086,074$1,283,181$1,104,368$1,753,630
70$2,269,218$1,316,422$1,111,729$1,861,001
71$2,470,109$1,350,357$1,118,403$1,977,534
72$2,690,529$1,384,993$1,124,337$2,104,125
73$2,932,437$1,420,332$1,129,477$2,241,760
74$3,197,996$1,456,379$1,133,765$2,391,528
75$3,489,585$1,493,135$1,137,140$2,554,625
76$3,809,826$1,530,602$1,139,537$2,732,370
77$4,161,607$1,568,780$1,140,891$2,926,218
78$4,548,110$1,607,669$1,141,130$3,137,767
79$4,972,840$1,647,268$1,140,180$3,368,784
80$5,439,659$1,687,573$1,137,965$3,621,211
81$5,952,819$1,728,579$1,134,402$3,897,190
82$6,517,010$1,770,282$1,129,407$4,199,080
83$7,137,393$1,812,674$1,122,890$4,529,481
84$7,819,658$1,855,746$1,114,758$4,891,258
85$8,570,073$1,899,488$1,104,913$5,287,569
86$9,395,544$1,943,886$1,093,251$5,721,892
87$10,303,679$1,988,927$1,079,665$6,198,060
88$11,302,863$2,034,593$1,064,042$6,720,299
89$12,402,332$2,080,865$1,046,264$7,293,263
90$13,612,264$2,127,721$1,026,209$7,922,082
91$14,943,874$2,175,138$1,003,745$8,612,411
92$16,409,517$2,223,088$978,738$9,370,481
93$18,022,809$2,271,540$951,047$10,203,157
94$19,798,751$2,320,462$920,523$11,118,006
95$21,753,875$2,369,815$887,012$12,123,368
96$23,906,394$2,419,560$850,350$13,228,434
97$26,276,379$2,469,651$810,370$14,443,331
98$28,885,946$2,520,041$766,894$15,779,223
99$31,759,464$2,570,674$719,736$17,248,410
100$34,923,786$2,621,494$668,704$18,864,450