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%12.8%
1 years$81,506$80,780$80,071$79,380$78,705$77,786
2 years$40,349$39,598$38,870$38,163$37,478$36,553
3 years$26,632$25,878$25,151$24,452$23,778$22,876
4 years$19,775$19,023$18,304$17,616$16,959$16,086
5 years$15,662$14,914$14,204$13,531$12,892$12,051
6 years$12,921$12,178$11,479$10,821$10,201$9,394
7 years$10,963$10,227$9,539$8,896$8,296$7,522
8 years$9,496$8,767$8,090$7,463$6,882$6,142
9 years$8,356$7,633$6,968$6,357$5,796$5,089
10 years$7,444$6,728$6,075$5,480$4,938$4,264
11 years$6,698$5,990$5,348$4,769$4,247$3,605
12 years$6,077$5,376$4,746$4,183$3,680$3,070
13 years$5,552$4,858$4,241$3,693$3,209$2,629
14 years$5,102$4,416$3,810$3,278$2,813$2,263
15 years$4,713$4,034$3,440$2,924$2,477$1,956
16 years$4,373$3,701$3,119$2,618$2,189$1,696
17 years$4,073$3,409$2,838$2,352$1,941$1,475
18 years$3,806$3,150$2,591$2,120$1,726$1,286
19 years$3,568$2,919$2,372$1,915$1,538$1,124
20 years$3,355$2,713$2,177$1,735$1,374$984
21 years$3,161$2,527$2,002$1,574$1,230$862
22 years$2,986$2,359$1,845$1,431$1,102$757
23 years$2,826$2,206$1,704$1,304$989$665
24 years$2,679$2,067$1,576$1,189$889$585
25 years$2,545$1,940$1,459$1,086$800$516
26 years$2,421$1,823$1,354$993$721$454
27 years$2,306$1,716$1,257$909$650$401
28 years$2,200$1,617$1,168$833$586$354
29 years$2,101$1,525$1,087$764$530$312
30 years$2,009$1,440$1,013$701$478$276
31 years$1,923$1,362$944$644$433$244
32 years$1,843$1,288$881$591$391$216
33 years$1,768$1,220$823$544$354$191
34 years$1,697$1,156$769$500$321$169
35 years$1,630$1,097$719$461$290$149
36 years$1,568$1,041$672$424$263$132
37 years$1,508$989$629$391$238$117
38 years$1,452$940$589$360$216$103
39 years$1,400$893$552$332$196$92
40 years$1,349$850$517$306$178$81
41 years$1,302$809$485$283$161$72
42 years$1,257$771$455$261$146$64
43 years$1,214$734$427$241$133$56
44 years$1,173$700$401$222$121$50
45 years$1,134$667$376$205$109$44
46 years$1,097$637$354$190$99$39
47 years$1,061$608$332$175$90$35
48 years$1,027$580$312$162$82$31
49 years$995$554$293$150$74$27
50 years$964$529$276$138$68$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $987,000, adding $2,979 every year, while hoping to spend $59,904 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: 69/18/13 Blend
60$987,000$987,000$987,000$987,000
61$1,090,747$1,038,436$1,023,137$1,162,666
62$1,138,266$1,025,582$993,675$1,197,996
63$1,188,624$1,010,090$961,218$1,229,169
64$1,242,047$991,769$925,603$1,261,719
65$1,298,784$970,413$886,658$1,295,774
66$1,359,104$945,807$844,205$1,331,475
67$1,423,304$917,723$798,058$1,368,978
68$1,491,707$885,918$748,019$1,408,459
69$1,564,670$850,137$693,886$1,450,111
70$1,642,580$810,107$635,445$1,494,150
71$1,725,864$765,544$572,474$1,540,818
72$1,814,989$716,142$504,738$1,590,379
73$1,910,467$661,582$431,996$1,643,132
74$2,012,859$601,524$353,992$1,699,405
75$2,122,783$535,610$270,463$1,759,564
76$2,240,914$463,463$181,131$1,824,014
77$2,367,995$384,680$85,706$1,893,206
78$2,504,841$298,840$0$1,967,640
79$2,652,348$205,496$0$2,050,108
80$2,811,499$104,177$0$2,151,819
81$2,983,374$0$0$2,261,601
82$3,169,162$0$0$2,381,368
83$3,370,167$0$0$2,533,314
84$3,587,823$0$0$2,697,893
85$3,823,708$0$0$2,876,303
86$4,079,556$0$0$3,069,863
87$4,357,274$0$0$3,280,022
88$4,658,960$0$0$3,508,373
89$4,986,921$0$0$3,756,671
90$5,343,696$0$0$4,026,843
91$5,732,077$0$0$4,321,014
92$6,155,138$0$0$4,641,519
93$6,616,260$0$0$4,990,927
94$7,119,166$0$0$5,372,068
95$7,667,951$0$0$5,788,055
96$8,267,126$0$0$6,242,317
97$8,921,653$0$0$6,738,625
98$9,636,997$0$0$7,281,134
99$10,419,174$0$0$7,874,417
100$11,274,808$0$0$8,523,508