Can I retire at age 61 with 991,000?

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 $991,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$81,836$81,107$80,396$79,702$79,024$76,494
2 years$40,513$39,758$39,027$38,318$37,630$35,105
3 years$26,740$25,982$25,253$24,551$23,874$21,433
4 years$19,855$19,100$18,378$17,687$17,027$14,688
5 years$15,725$14,975$14,262$13,586$12,944$10,713
6 years$12,973$12,228$11,526$10,865$10,242$8,122
7 years$11,008$10,269$9,578$8,932$8,330$6,320
8 years$9,535$8,802$8,123$7,493$6,910$5,009
9 years$8,389$7,664$6,996$6,382$5,819$4,025
10 years$7,474$6,755$6,099$5,502$4,958$3,268
11 years$6,725$6,014$5,370$4,788$4,264$2,675
12 years$6,102$5,398$4,766$4,200$3,695$2,204
13 years$5,575$4,878$4,258$3,708$3,222$1,824
14 years$5,123$4,434$3,826$3,291$2,825$1,517
15 years$4,732$4,051$3,454$2,935$2,487$1,265
16 years$4,391$3,716$3,132$2,628$2,198$1,058
17 years$4,089$3,423$2,850$2,362$1,949$887
18 years$3,822$3,163$2,601$2,128$1,733$745
19 years$3,583$2,931$2,381$1,923$1,545$627
20 years$3,368$2,724$2,186$1,742$1,380$528
21 years$3,174$2,537$2,010$1,581$1,235$445
22 years$2,998$2,368$1,853$1,437$1,107$376
23 years$2,837$2,215$1,711$1,309$993$317
24 years$2,690$2,075$1,582$1,194$893$268
25 years$2,555$1,948$1,465$1,090$804$227
26 years$2,430$1,830$1,359$997$724$192
27 years$2,315$1,723$1,262$912$653$162
28 years$2,209$1,623$1,173$836$589$138
29 years$2,110$1,531$1,092$767$532$116
30 years$2,017$1,446$1,017$704$480$99
31 years$1,931$1,367$948$646$434$84
32 years$1,850$1,294$885$594$393$71
33 years$1,775$1,225$826$546$356$60
34 years$1,704$1,161$772$502$322$51
35 years$1,637$1,101$721$463$292$43
36 years$1,574$1,045$675$426$264$37
37 years$1,515$993$632$392$239$31
38 years$1,458$943$592$362$217$26
39 years$1,405$897$554$334$197$22
40 years$1,355$854$519$308$179$19
41 years$1,307$812$487$284$162$16
42 years$1,262$774$457$262$147$14
43 years$1,219$737$429$242$133$12
44 years$1,177$703$402$223$121$10
45 years$1,138$670$378$206$110$8
46 years$1,101$639$355$190$100$7
47 years$1,065$610$333$176$91$6
48 years$1,031$582$313$163$82$5
49 years$999$556$295$150$75$4
50 years$968$531$277$139$68$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $991,000, adding $3,708 every year, while hoping to spend $37,410 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: 32/45/23 Blend
60$991,000$991,000$991,000$991,000
61$1,095,907$1,043,384$1,028,023$1,123,118
62$1,167,885$1,054,706$1,022,658$1,155,291
63$1,245,952$1,065,328$1,015,859$1,186,297
64$1,330,688$1,075,178$1,007,540$1,218,931
65$1,422,733$1,084,177$997,607$1,253,360
66$1,522,790$1,092,240$985,966$1,289,769
67$1,631,634$1,099,280$972,515$1,328,366
68$1,750,116$1,105,200$957,149$1,369,381
69$1,879,173$1,109,899$939,759$1,413,071
70$2,019,836$1,113,271$920,228$1,459,720
71$2,173,239$1,115,202$898,436$1,509,648
72$2,340,632$1,115,569$874,256$1,563,207
73$2,523,390$1,114,245$847,556$1,620,789
74$2,723,025$1,111,093$818,199$1,682,832
75$2,941,204$1,105,966$786,039$1,749,820
76$3,179,760$1,098,712$750,925$1,822,290
77$3,440,714$1,089,168$712,699$1,900,842
78$3,726,288$1,077,158$671,196$1,986,137
79$4,038,932$1,062,501$626,243$2,078,912
80$4,381,341$1,045,002$577,660$2,179,982
81$4,756,484$1,024,454$525,259$2,290,254
82$5,167,632$1,000,639$468,841$2,410,729
83$5,618,386$973,325$408,203$2,542,521
84$6,112,712$942,268$343,128$2,686,861
85$6,654,978$907,209$273,392$2,845,114
86$7,249,996$867,873$198,761$3,018,793
87$7,903,067$823,970$118,992$3,209,570
88$8,620,029$775,194$33,827$3,419,301
89$9,407,313$721,219$0$3,650,035
90$10,272,003$661,703$0$3,918,047
91$11,221,903$596,282$0$4,221,614
92$12,265,611$524,574$0$4,555,277
93$13,412,599$446,173$0$4,922,184
94$14,673,299$360,651$0$5,325,812
95$16,059,209$267,556$0$5,770,000
96$17,582,992$166,410$0$6,258,990
97$19,258,601$56,708$0$6,797,461
98$21,101,411$0$0$7,390,584
99$23,128,358$0$0$8,074,807
100$25,358,103$0$0$8,858,547