Can I retire at age 61 with 989,000?

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 $989,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$81,671$80,943$80,233$79,541$78,864$77,622
2 years$40,431$39,678$38,948$38,241$37,554$36,306
3 years$26,686$25,930$25,202$24,501$23,826$22,610
4 years$19,815$19,061$18,341$17,652$16,993$15,819
5 years$15,694$14,944$14,233$13,558$12,918$11,790
6 years$12,947$12,203$11,502$10,843$10,221$9,140
7 years$10,986$10,248$9,559$8,914$8,313$7,279
8 years$9,515$8,785$8,106$7,478$6,896$5,909
9 years$8,373$7,649$6,982$6,370$5,808$4,867
10 years$7,459$6,742$6,087$5,491$4,948$4,053
11 years$6,712$6,002$5,359$4,779$4,256$3,406
12 years$6,089$5,387$4,756$4,191$3,688$2,881
13 years$5,563$4,868$4,249$3,700$3,216$2,452
14 years$5,113$4,425$3,818$3,285$2,819$2,097
15 years$4,723$4,042$3,447$2,929$2,482$1,800
16 years$4,382$3,709$3,125$2,623$2,194$1,550
17 years$4,081$3,416$2,844$2,357$1,945$1,338
18 years$3,814$3,156$2,596$2,124$1,730$1,159
19 years$3,576$2,925$2,377$1,919$1,542$1,005
20 years$3,361$2,718$2,181$1,738$1,377$873
21 years$3,168$2,532$2,006$1,577$1,232$760
22 years$2,992$2,363$1,849$1,434$1,104$662
23 years$2,831$2,210$1,707$1,306$991$577
24 years$2,685$2,071$1,579$1,191$891$504
25 years$2,550$1,944$1,462$1,088$802$440
26 years$2,426$1,827$1,356$995$722$385
27 years$2,311$1,719$1,259$911$651$337
28 years$2,204$1,620$1,171$834$588$295
29 years$2,105$1,528$1,090$765$531$258
30 years$2,013$1,443$1,015$702$479$226
31 years$1,927$1,364$946$645$433$198
32 years$1,847$1,291$883$593$392$174
33 years$1,771$1,223$824$545$355$153
34 years$1,700$1,159$770$501$321$134
35 years$1,634$1,099$720$462$291$117
36 years$1,571$1,043$674$425$264$103
37 years$1,511$991$630$392$239$90
38 years$1,455$942$590$361$217$79
39 years$1,402$895$553$333$196$70
40 years$1,352$852$518$307$178$61
41 years$1,304$811$486$283$162$54
42 years$1,259$772$456$261$147$47
43 years$1,216$736$428$241$133$41
44 years$1,175$701$402$223$121$36
45 years$1,136$669$377$206$110$32
46 years$1,099$638$354$190$100$28
47 years$1,063$609$333$176$90$25
48 years$1,029$581$313$162$82$22
49 years$997$555$294$150$75$19
50 years$966$530$276$139$68$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $989,000, adding $4,538 every year, while hoping to spend $20,959 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: 76/13/11 Blend
60$989,000$989,000$989,000$989,000
61$1,094,559$1,042,142$1,026,812$1,175,155
62$1,183,904$1,070,907$1,038,910$1,257,644
63$1,281,659$1,100,378$1,050,711$1,344,938
64$1,388,661$1,130,570$1,062,183$1,440,040
65$1,505,830$1,161,493$1,073,291$1,543,716
66$1,634,179$1,193,161$1,084,001$1,656,814
67$1,774,824$1,225,585$1,094,274$1,780,267
68$1,928,995$1,258,777$1,104,071$1,915,100
69$2,098,046$1,292,750$1,113,350$2,062,445
70$2,283,466$1,327,515$1,122,067$2,223,547
71$2,486,900$1,363,082$1,130,176$2,399,778
72$2,710,154$1,399,465$1,137,628$2,592,648
73$2,955,223$1,436,671$1,144,372$2,803,822
74$3,224,301$1,474,714$1,150,354$3,035,135
75$3,519,806$1,513,600$1,155,517$3,288,605
76$3,844,401$1,553,341$1,159,801$3,566,458
77$4,201,020$1,593,945$1,163,145$3,871,146
78$4,592,896$1,635,421$1,165,482$4,205,370
79$5,023,589$1,677,774$1,166,743$4,572,104
80$5,497,023$1,721,013$1,166,857$4,974,628
81$6,017,519$1,765,143$1,165,747$5,416,554
82$6,589,840$1,810,168$1,163,333$5,901,860
83$7,219,231$1,856,094$1,159,532$6,434,933
84$7,911,473$1,902,923$1,154,257$7,020,604
85$8,672,934$1,950,657$1,147,415$7,664,196
86$9,510,630$1,999,296$1,138,911$8,371,575
87$10,432,293$2,048,840$1,128,643$9,149,205
88$11,446,440$2,099,286$1,116,505$10,004,206
89$12,562,457$2,150,631$1,102,388$10,944,427
90$13,790,684$2,202,869$1,086,175$11,978,515
91$15,142,517$2,255,992$1,067,744$13,115,997
92$16,630,509$2,309,992$1,046,970$14,367,374
93$18,268,496$2,364,856$1,023,718$15,744,216
94$20,071,721$2,420,572$997,850$17,259,270
95$22,056,979$2,477,123$969,221$18,926,587
96$24,242,778$2,534,489$937,678$20,761,646
97$26,649,513$2,592,651$903,061$22,781,507
98$29,299,655$2,651,582$865,205$25,004,969
99$32,217,966$2,711,256$823,936$27,452,746
100$35,431,731$2,771,640$779,071$30,147,667