Can I retire at age 61 with 992,000?

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 $992,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$81,918$81,189$80,477$79,782$79,103$78,704
2 years$40,554$39,798$39,066$38,357$37,668$37,265
3 years$26,767$26,009$25,279$24,576$23,898$23,504
4 years$19,875$19,119$18,396$17,705$17,044$16,662
5 years$15,741$14,990$14,276$13,599$12,957$12,587
6 years$12,986$12,240$11,537$10,876$10,252$9,896
7 years$11,019$10,279$9,588$8,941$8,338$7,995
8 years$9,544$8,811$8,131$7,501$6,917$6,588
9 years$8,398$7,672$7,003$6,389$5,825$5,510
10 years$7,481$6,762$6,106$5,507$4,963$4,661
11 years$6,732$6,020$5,375$4,793$4,269$3,980
12 years$6,108$5,403$4,770$4,204$3,699$3,423
13 years$5,580$4,883$4,262$3,712$3,226$2,963
14 years$5,128$4,439$3,829$3,295$2,828$2,577
15 years$4,737$4,055$3,458$2,938$2,490$2,251
16 years$4,395$3,720$3,135$2,631$2,200$1,974
17 years$4,093$3,426$2,852$2,364$1,951$1,736
18 years$3,826$3,166$2,604$2,130$1,735$1,531
19 years$3,587$2,934$2,384$1,925$1,546$1,353
20 years$3,371$2,726$2,188$1,743$1,381$1,198
21 years$3,177$2,540$2,012$1,582$1,236$1,063
22 years$3,001$2,371$1,855$1,439$1,108$944
23 years$2,840$2,217$1,712$1,310$994$840
24 years$2,693$2,077$1,584$1,195$894$748
25 years$2,558$1,950$1,467$1,091$804$667
26 years$2,433$1,832$1,360$998$725$595
27 years$2,318$1,724$1,263$913$653$532
28 years$2,211$1,625$1,174$837$589$475
29 years$2,112$1,533$1,093$767$532$425
30 years$2,019$1,448$1,018$704$481$381
31 years$1,933$1,368$949$647$435$341
32 years$1,852$1,295$885$594$393$305
33 years$1,777$1,226$827$547$356$274
34 years$1,705$1,162$772$503$322$245
35 years$1,639$1,102$722$463$292$220
36 years$1,576$1,046$676$426$264$197
37 years$1,516$994$632$393$240$177
38 years$1,460$944$592$362$217$159
39 years$1,407$898$555$334$197$143
40 years$1,356$854$520$308$179$128
41 years$1,308$813$488$284$162$115
42 years$1,263$775$457$262$147$103
43 years$1,220$738$429$242$134$93
44 years$1,179$703$403$224$121$83
45 years$1,139$671$378$206$110$75
46 years$1,102$640$355$191$100$67
47 years$1,066$611$334$176$91$60
48 years$1,032$583$314$163$82$54
49 years$1,000$557$295$150$75$49
50 years$969$532$277$139$68$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $992,000, adding $5,357 every year, while hoping to spend $35,728 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: 80/11/9 Blend
60$992,000$992,000$992,000$992,000
61$1,098,710$1,046,134$1,030,758$1,184,714
62$1,172,764$1,059,380$1,027,274$1,255,124
63$1,253,174$1,072,078$1,022,476$1,327,140
64$1,340,551$1,084,163$1,016,282$1,405,101
65$1,435,566$1,095,566$1,008,606$1,489,583
66$1,538,958$1,106,213$999,359$1,581,220
67$1,651,541$1,116,027$988,447$1,680,713
68$1,774,209$1,124,923$975,771$1,788,830
69$1,907,947$1,132,813$961,228$1,906,421
70$2,053,839$1,139,601$944,709$2,034,420
71$2,213,076$1,145,188$926,103$2,173,856
72$2,386,973$1,149,465$905,291$2,325,863
73$2,576,974$1,152,319$882,148$2,491,692
74$2,784,672$1,153,628$856,546$2,672,720
75$3,011,817$1,153,265$828,349$2,870,462
76$3,260,339$1,151,091$797,415$3,086,592
77$3,532,361$1,146,962$763,596$3,322,952
78$3,830,223$1,140,725$726,738$3,581,570
79$4,156,500$1,132,215$686,678$3,864,685
80$4,514,029$1,121,259$643,247$4,174,761
81$4,905,932$1,107,673$596,269$4,514,514
82$5,335,652$1,091,263$545,558$4,886,939
83$5,806,976$1,071,823$490,922$5,295,333
84$6,324,078$1,049,133$432,159$5,743,333
85$6,891,556$1,022,963$369,058$6,234,946
86$7,514,473$993,066$301,399$6,774,586
87$8,198,407$959,184$228,954$7,367,121
88$8,949,501$921,041$151,481$8,017,913
89$9,774,526$878,347$68,731$8,732,872
90$10,680,936$830,795$0$9,518,513
91$11,676,947$778,059$0$10,383,896
92$12,771,607$719,796$0$11,342,216
93$13,974,887$655,642$0$12,395,616
94$15,297,769$585,212$0$13,553,732
95$16,752,355$508,100$0$14,827,187
96$18,351,976$423,878$0$16,227,684
97$20,111,321$332,091$0$17,768,122
98$22,046,573$232,262$0$19,462,710
99$24,175,565$123,884$0$21,327,112
100$26,517,941$6,422$0$23,378,586