Can I retire at age 61 with 990,000?

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 $990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$81,753$81,025$80,315$79,621$78,944$78,315
2 years$40,472$39,718$38,988$38,279$37,592$36,959
3 years$26,713$25,956$25,228$24,526$23,850$23,231
4 years$19,835$19,081$18,359$17,670$17,010$16,410
5 years$15,710$14,959$14,248$13,572$12,931$12,352
6 years$12,960$12,215$11,514$10,854$10,232$9,675
7 years$10,997$10,259$9,568$8,923$8,321$7,786
8 years$9,525$8,793$8,115$7,486$6,903$6,391
9 years$8,381$7,656$6,989$6,376$5,813$5,323
10 years$7,466$6,749$6,093$5,496$4,953$4,484
11 years$6,718$6,008$5,364$4,783$4,260$3,812
12 years$6,095$5,392$4,761$4,196$3,692$3,265
13 years$5,569$4,873$4,253$3,704$3,219$2,813
14 years$5,118$4,430$3,822$3,288$2,822$2,436
15 years$4,727$4,046$3,451$2,932$2,485$2,118
16 years$4,386$3,713$3,128$2,626$2,196$1,848
17 years$4,085$3,419$2,847$2,359$1,947$1,617
18 years$3,818$3,159$2,599$2,126$1,731$1,419
19 years$3,579$2,928$2,379$1,921$1,543$1,248
20 years$3,365$2,721$2,183$1,740$1,378$1,100
21 years$3,171$2,534$2,008$1,579$1,233$970
22 years$2,995$2,366$1,851$1,436$1,106$858
23 years$2,834$2,213$1,709$1,308$992$759
24 years$2,687$2,073$1,581$1,193$892$673
25 years$2,552$1,946$1,464$1,089$803$596
26 years$2,428$1,829$1,358$996$723$529
27 years$2,313$1,721$1,261$912$652$470
28 years$2,206$1,622$1,172$835$588$418
29 years$2,107$1,530$1,091$766$531$372
30 years$2,015$1,445$1,016$703$480$331
31 years$1,929$1,366$947$646$434$295
32 years$1,848$1,292$884$593$392$262
33 years$1,773$1,224$825$546$355$234
34 years$1,702$1,160$771$502$322$208
35 years$1,635$1,100$721$462$291$186
36 years$1,572$1,044$674$426$264$166
37 years$1,513$992$631$392$239$148
38 years$1,457$942$591$361$217$132
39 years$1,404$896$554$333$197$118
40 years$1,353$853$519$307$178$105
41 years$1,306$812$487$284$162$94
42 years$1,260$773$456$262$147$84
43 years$1,217$737$428$242$133$75
44 years$1,176$702$402$223$121$67
45 years$1,137$669$378$206$110$60
46 years$1,100$639$355$190$100$53
47 years$1,064$609$333$176$91$47
48 years$1,030$582$313$162$82$42
49 years$998$556$294$150$75$38
50 years$967$531$277$139$68$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $990,000, adding $4,162 every year, while hoping to spend $49,957 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: 34/37/29 Blend
60$990,000$990,000$990,000$990,000
61$1,095,273$1,042,803$1,027,458$1,122,796
62$1,153,837$1,040,747$1,008,724$1,141,918
63$1,216,700$1,036,915$987,688$1,157,784
64$1,284,248$1,031,169$964,220$1,173,937
65$1,356,905$1,023,359$938,185$1,190,437
66$1,435,135$1,013,329$909,440$1,207,355
67$1,519,449$1,000,912$877,836$1,224,773
68$1,610,407$985,932$843,219$1,242,786
69$1,708,627$968,201$805,424$1,261,503
70$1,814,785$947,520$764,284$1,281,051
71$1,929,625$923,681$719,619$1,301,574
72$2,053,965$896,460$671,245$1,323,237
73$2,188,705$865,622$618,967$1,346,226
74$2,334,833$830,917$562,583$1,370,756
75$2,493,437$792,083$501,880$1,397,067
76$2,665,713$748,841$436,639$1,425,434
77$2,852,976$700,894$366,626$1,456,167
78$3,056,674$647,932$291,603$1,489,613
79$3,278,399$589,625$211,316$1,526,167
80$3,519,903$525,624$125,502$1,566,271
81$3,783,114$455,561$33,888$1,610,422
82$4,070,155$379,047$0$1,659,179
83$4,383,360$295,670$0$1,732,934
84$4,725,301$204,996$0$1,825,097
85$5,098,808$106,566$0$1,926,054
86$5,506,995$0$0$2,036,781
87$5,953,292$0$0$2,158,408
88$6,441,476$0$0$2,339,047
89$6,975,705$0$0$2,536,867
90$7,560,557$0$0$2,753,580
91$8,201,074$0$0$2,991,074
92$8,902,808$0$0$3,251,426
93$9,671,873$0$0$3,536,925
94$10,515,004$0$0$3,850,091
95$11,439,617$0$0$4,193,700
96$12,453,881$0$0$4,570,811
97$13,566,794$0$0$4,984,792
98$14,788,266$0$0$5,439,353
99$16,129,215$0$0$5,938,582
100$17,601,666$0$0$6,486,981