Can I retire at age 61 with 993,000?

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 $993,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$82,001$81,271$80,558$79,862$79,183$78,520
2 years$40,595$39,839$39,106$38,395$37,706$37,038
3 years$26,794$26,035$25,304$24,600$23,922$23,269
4 years$19,895$19,138$18,415$17,723$17,062$16,429
5 years$15,757$15,005$14,291$13,613$12,970$12,360
6 years$12,999$12,253$11,549$10,886$10,263$9,676
7 years$11,030$10,290$9,597$8,950$8,346$7,783
8 years$9,554$8,820$8,139$7,508$6,924$6,384
9 years$8,406$7,680$7,010$6,395$5,831$5,314
10 years$7,489$6,769$6,112$5,513$4,968$4,474
11 years$6,739$6,026$5,381$4,798$4,273$3,802
12 years$6,114$5,409$4,775$4,208$3,703$3,254
13 years$5,586$4,888$4,266$3,715$3,229$2,801
14 years$5,133$4,443$3,833$3,298$2,831$2,424
15 years$4,742$4,059$3,461$2,941$2,492$2,106
16 years$4,399$3,724$3,138$2,634$2,203$1,837
17 years$4,098$3,429$2,855$2,366$1,953$1,606
18 years$3,830$3,169$2,607$2,132$1,737$1,408
19 years$3,590$2,937$2,386$1,927$1,548$1,238
20 years$3,375$2,729$2,190$1,745$1,383$1,090
21 years$3,180$2,542$2,014$1,584$1,237$961
22 years$3,004$2,373$1,857$1,440$1,109$849
23 years$2,843$2,219$1,714$1,312$995$751
24 years$2,695$2,079$1,585$1,196$895$665
25 years$2,560$1,951$1,468$1,092$805$589
26 years$2,435$1,834$1,362$999$725$522
27 years$2,320$1,726$1,265$914$654$464
28 years$2,213$1,626$1,176$838$590$412
29 years$2,114$1,534$1,094$768$533$366
30 years$2,021$1,449$1,019$705$481$325
31 years$1,935$1,370$950$647$435$289
32 years$1,854$1,296$886$595$394$258
33 years$1,778$1,227$828$547$356$229
34 years$1,707$1,163$773$503$323$204
35 years$1,640$1,103$723$463$292$182
36 years$1,577$1,047$676$427$265$162
37 years$1,518$995$633$393$240$144
38 years$1,461$945$593$362$218$129
39 years$1,408$899$555$334$197$115
40 years$1,358$855$521$308$179$102
41 years$1,310$814$488$284$162$91
42 years$1,264$775$458$262$147$81
43 years$1,221$739$430$242$134$73
44 years$1,180$704$403$224$121$65
45 years$1,141$671$379$207$110$58
46 years$1,103$641$356$191$100$52
47 years$1,067$611$334$176$91$46
48 years$1,033$584$314$163$82$41
49 years$1,001$557$295$151$75$37
50 years$970$532$277$139$68$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $993,000, adding $6,872 every year, while hoping to spend $23,270 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: 68/5/27 Blend
60$993,000$993,000$993,000$993,000
61$1,101,374$1,048,745$1,033,354$1,168,112
62$1,188,956$1,075,375$1,043,212$1,240,464
63$1,284,690$1,102,529$1,052,621$1,316,317
64$1,389,385$1,130,210$1,061,540$1,398,776
65$1,503,929$1,158,417$1,069,928$1,488,498
66$1,629,300$1,187,150$1,077,742$1,586,203
67$1,766,577$1,216,408$1,084,934$1,692,686
68$1,916,945$1,246,189$1,091,456$1,808,821
69$2,081,711$1,276,490$1,097,258$1,935,574
70$2,262,314$1,307,307$1,102,284$2,074,008
71$2,460,339$1,338,634$1,106,480$2,225,295
72$2,677,532$1,370,465$1,109,785$2,390,726
73$2,915,814$1,402,792$1,112,138$2,571,723
74$3,177,305$1,435,607$1,113,472$2,769,856
75$3,464,336$1,468,897$1,113,719$2,986,852
76$3,779,477$1,502,652$1,112,808$3,224,617
77$4,125,559$1,536,857$1,110,661$3,485,249
78$4,505,699$1,571,496$1,107,202$3,771,063
79$4,923,332$1,606,551$1,102,345$4,084,607
80$5,382,242$1,642,003$1,096,004$4,428,693
81$5,886,599$1,677,828$1,088,088$4,806,418
82$6,440,994$1,714,004$1,078,500$5,221,195
83$7,050,486$1,750,501$1,067,142$5,676,786
84$7,720,651$1,787,292$1,053,906$6,177,339
85$8,457,631$1,824,341$1,038,685$6,727,422
86$9,268,190$1,861,615$1,021,362$7,332,072
87$10,159,784$1,899,073$1,001,816$7,996,841
88$11,140,628$1,936,674$979,923$8,727,846
89$12,219,771$1,974,370$955,549$9,531,830
90$13,407,185$2,012,111$928,557$10,416,223
91$14,713,856$2,049,843$898,803$11,389,217
92$16,151,891$2,087,507$866,134$12,459,837
93$17,734,628$2,125,038$830,393$13,638,032
94$19,476,764$2,162,369$791,415$14,934,765
95$21,394,494$2,199,425$749,028$16,362,121
96$23,505,662$2,236,127$703,050$17,933,416
97$25,829,930$2,272,388$653,293$19,663,328
98$28,388,964$2,308,116$599,560$21,568,033
99$31,206,638$2,343,214$541,645$23,665,358
100$34,309,258$2,377,574$479,333$25,974,950