Can I retire at age 61 with 992,000?

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 $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%17.7%
1 years$81,918$81,189$80,477$79,782$79,103$76,633
2 years$40,554$39,798$39,066$38,357$37,668$35,201
3 years$26,767$26,009$25,279$24,576$23,898$21,512
4 years$19,875$19,119$18,396$17,705$17,044$14,757
5 years$15,741$14,990$14,276$13,599$12,957$10,775
6 years$12,986$12,240$11,537$10,876$10,252$8,178
7 years$11,019$10,279$9,588$8,941$8,338$6,370
8 years$9,544$8,811$8,131$7,501$6,917$5,055
9 years$8,398$7,672$7,003$6,389$5,825$4,067
10 years$7,481$6,762$6,106$5,507$4,963$3,306
11 years$6,732$6,020$5,375$4,793$4,269$2,710
12 years$6,108$5,403$4,770$4,204$3,699$2,235
13 years$5,580$4,883$4,262$3,712$3,226$1,853
14 years$5,128$4,439$3,829$3,295$2,828$1,543
15 years$4,737$4,055$3,458$2,938$2,490$1,289
16 years$4,395$3,720$3,135$2,631$2,200$1,079
17 years$4,093$3,426$2,852$2,364$1,951$906
18 years$3,826$3,166$2,604$2,130$1,735$762
19 years$3,587$2,934$2,384$1,925$1,546$642
20 years$3,371$2,726$2,188$1,743$1,381$542
21 years$3,177$2,540$2,012$1,582$1,236$458
22 years$3,001$2,371$1,855$1,439$1,108$387
23 years$2,840$2,217$1,712$1,310$994$327
24 years$2,693$2,077$1,584$1,195$894$277
25 years$2,558$1,950$1,467$1,091$804$235
26 years$2,433$1,832$1,360$998$725$199
27 years$2,318$1,724$1,263$913$653$169
28 years$2,211$1,625$1,174$837$589$143
29 years$2,112$1,533$1,093$767$532$121
30 years$2,019$1,448$1,018$704$481$103
31 years$1,933$1,368$949$647$435$87
32 years$1,852$1,295$885$594$393$74
33 years$1,777$1,226$827$547$356$63
34 years$1,705$1,162$772$503$322$53
35 years$1,639$1,102$722$463$292$45
36 years$1,576$1,046$676$426$264$39
37 years$1,516$994$632$393$240$33
38 years$1,460$944$592$362$217$28
39 years$1,407$898$555$334$197$24
40 years$1,356$854$520$308$179$20
41 years$1,308$813$488$284$162$17
42 years$1,263$775$457$262$147$14
43 years$1,220$738$429$242$134$12
44 years$1,179$703$403$224$121$10
45 years$1,139$671$378$206$110$9
46 years$1,102$640$355$191$100$8
47 years$1,066$611$334$176$91$6
48 years$1,032$583$314$163$82$5
49 years$1,000$557$295$150$75$5
50 years$969$532$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 $992,000, adding $2,867 every year, while hoping to spend $25,514 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: 54/19/27 Blend
60$992,000$992,000$992,000$992,000
61$1,096,141$1,043,565$1,028,189$1,146,979
62$1,180,801$1,067,553$1,035,487$1,206,386
63$1,273,241$1,091,862$1,042,174$1,268,169
64$1,374,228$1,116,479$1,048,203$1,334,918
65$1,484,605$1,141,393$1,053,524$1,407,118
66$1,605,303$1,166,589$1,058,085$1,485,306
67$1,737,343$1,192,051$1,061,830$1,570,072
68$1,881,853$1,217,763$1,064,703$1,662,067
69$2,040,074$1,243,704$1,066,642$1,762,008
70$2,213,370$1,269,855$1,067,583$1,870,685
71$2,403,246$1,296,190$1,067,459$1,988,972
72$2,611,360$1,322,686$1,066,202$2,117,829
73$2,839,535$1,349,314$1,063,736$2,258,316
74$3,089,781$1,376,044$1,059,984$2,411,602
75$3,364,311$1,402,843$1,054,867$2,578,973
76$3,665,564$1,429,675$1,048,298$2,761,852
77$3,996,224$1,456,502$1,040,189$2,961,802
78$4,359,250$1,483,282$1,030,446$3,180,551
79$4,757,901$1,509,969$1,018,973$3,420,000
80$5,195,764$1,536,516$1,005,666$3,682,249
81$5,676,796$1,562,869$990,420$3,969,608
82$6,205,351$1,588,971$973,121$4,284,630
83$6,786,229$1,614,763$953,652$4,630,123
84$7,424,716$1,640,178$931,892$5,009,188
85$8,126,637$1,665,147$907,710$5,425,240
86$8,898,409$1,689,594$880,973$5,882,046
87$9,747,102$1,713,439$851,541$6,383,758
88$10,680,504$1,736,596$819,266$6,934,952
89$11,707,199$1,758,972$783,994$7,540,676
90$12,836,640$1,780,469$745,565$8,206,490
91$14,079,247$1,800,981$703,811$8,938,527
92$15,446,498$1,820,397$658,556$9,743,546
93$16,951,040$1,838,595$609,617$10,628,999
94$18,606,808$1,855,449$556,802$11,603,100
95$20,429,158$1,870,822$499,910$12,674,902
96$22,435,009$1,884,568$438,733$13,854,387
97$24,643,001$1,896,533$373,052$15,152,556
98$27,073,677$1,906,553$302,639$16,581,537
99$29,749,669$1,914,452$227,255$18,154,697
100$32,695,920$1,920,044$146,652$19,886,772