Can I retire at age 61 with 987,000?

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 $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%12.6%
1 years$81,506$80,780$80,071$79,380$78,705$77,850
2 years$40,349$39,598$38,870$38,163$37,478$36,618
3 years$26,632$25,878$25,151$24,452$23,778$22,939
4 years$19,775$19,023$18,304$17,616$16,959$16,147
5 years$15,662$14,914$14,204$13,531$12,892$12,109
6 years$12,921$12,178$11,479$10,821$10,201$9,449
7 years$10,963$10,227$9,539$8,896$8,296$7,575
8 years$9,496$8,767$8,090$7,463$6,882$6,192
9 years$8,356$7,633$6,968$6,357$5,796$5,137
10 years$7,444$6,728$6,075$5,480$4,938$4,309
11 years$6,698$5,990$5,348$4,769$4,247$3,648
12 years$6,077$5,376$4,746$4,183$3,680$3,110
13 years$5,552$4,858$4,241$3,693$3,209$2,667
14 years$5,102$4,416$3,810$3,278$2,813$2,299
15 years$4,713$4,034$3,440$2,924$2,477$1,990
16 years$4,373$3,701$3,119$2,618$2,189$1,728
17 years$4,073$3,409$2,838$2,352$1,941$1,505
18 years$3,806$3,150$2,591$2,120$1,726$1,314
19 years$3,568$2,919$2,372$1,915$1,538$1,150
20 years$3,355$2,713$2,177$1,735$1,374$1,008
21 years$3,161$2,527$2,002$1,574$1,230$885
22 years$2,986$2,359$1,845$1,431$1,102$778
23 years$2,826$2,206$1,704$1,304$989$685
24 years$2,679$2,067$1,576$1,189$889$603
25 years$2,545$1,940$1,459$1,086$800$532
26 years$2,421$1,823$1,354$993$721$470
27 years$2,306$1,716$1,257$909$650$415
28 years$2,200$1,617$1,168$833$586$367
29 years$2,101$1,525$1,087$764$530$324
30 years$2,009$1,440$1,013$701$478$287
31 years$1,923$1,362$944$644$433$254
32 years$1,843$1,288$881$591$391$225
33 years$1,768$1,220$823$544$354$199
34 years$1,697$1,156$769$500$321$177
35 years$1,630$1,097$719$461$290$157
36 years$1,568$1,041$672$424$263$139
37 years$1,508$989$629$391$238$123
38 years$1,452$940$589$360$216$109
39 years$1,400$893$552$332$196$97
40 years$1,349$850$517$306$178$86
41 years$1,302$809$485$283$161$76
42 years$1,257$771$455$261$146$68
43 years$1,214$734$427$241$133$60
44 years$1,173$700$401$222$121$53
45 years$1,134$667$376$205$109$47
46 years$1,097$637$354$190$99$42
47 years$1,061$608$332$175$90$37
48 years$1,027$580$312$162$82$33
49 years$995$554$293$150$74$29
50 years$964$529$276$138$68$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $987,000, adding $4,460 every year, while hoping to spend $29,455 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: 54/40/6 Blend
60$987,000$987,000$987,000$987,000
61$1,092,274$1,039,963$1,024,665$1,149,546
62$1,172,347$1,059,582$1,027,651$1,208,369
63$1,259,599$1,079,174$1,029,751$1,268,718
64$1,354,733$1,098,708$1,030,902$1,333,676
65$1,458,519$1,118,149$1,031,041$1,403,684
66$1,571,809$1,137,459$1,030,102$1,479,228
67$1,695,537$1,156,598$1,028,013$1,560,842
68$1,830,732$1,175,522$1,024,702$1,649,118
69$1,978,528$1,194,183$1,020,091$1,744,704
70$2,140,172$1,212,533$1,014,099$1,848,317
71$2,317,039$1,230,517$1,006,641$1,960,748
72$2,510,642$1,248,076$997,627$2,082,866
73$2,722,646$1,265,150$986,966$2,215,631
74$2,954,885$1,281,672$974,559$2,360,102
75$3,209,381$1,297,572$960,304$2,517,445
76$3,488,357$1,312,773$944,094$2,688,945
77$3,794,266$1,327,194$925,817$2,876,020
78$4,129,805$1,340,751$905,356$3,080,232
79$4,497,947$1,353,350$882,588$3,303,306
80$4,901,968$1,364,894$857,385$3,547,139
81$5,345,473$1,375,279$829,612$3,813,828
82$5,832,437$1,384,392$799,129$4,105,681
83$6,367,235$1,392,117$765,789$4,425,243
84$6,954,688$1,398,326$729,439$4,775,321
85$7,600,109$1,402,887$689,918$5,159,011
86$8,309,349$1,405,657$647,058$5,579,724
87$9,088,852$1,406,484$600,684$6,041,222
88$9,945,721$1,405,208$550,614$6,547,652
89$10,887,780$1,401,659$496,655$7,103,586
90$11,923,648$1,395,654$438,607$7,714,067
91$13,062,823$1,387,003$376,262$8,384,651
92$14,315,766$1,375,502$309,402$9,121,467
93$15,694,006$1,360,933$237,799$9,931,269
94$17,210,245$1,343,069$161,216$10,821,505
95$18,878,476$1,321,667$79,403$11,800,387
96$20,714,121$1,296,468$0$12,876,966
97$22,734,167$1,267,201$0$14,061,728
98$24,957,335$1,233,576$0$15,370,624
99$27,404,251$1,195,289$0$16,810,714
100$30,097,642$1,152,016$0$18,395,386