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%15.2%
1 years$82,001$81,271$80,558$79,862$79,183$77,489
2 years$40,595$39,839$39,106$38,395$37,706$36,008
3 years$26,794$26,035$25,304$24,600$23,922$22,273
4 years$19,895$19,138$18,415$17,723$17,062$15,473
5 years$15,757$15,005$14,291$13,613$12,970$11,447
6 years$12,999$12,253$11,549$10,886$10,263$8,808
7 years$11,030$10,290$9,597$8,950$8,346$6,959
8 years$9,554$8,820$8,139$7,508$6,924$5,604
9 years$8,406$7,680$7,010$6,395$5,831$4,577
10 years$7,489$6,769$6,112$5,513$4,968$3,779
11 years$6,739$6,026$5,381$4,798$4,273$3,147
12 years$6,114$5,409$4,775$4,208$3,703$2,639
13 years$5,586$4,888$4,266$3,715$3,229$2,225
14 years$5,133$4,443$3,833$3,298$2,831$1,885
15 years$4,742$4,059$3,461$2,941$2,492$1,602
16 years$4,399$3,724$3,138$2,634$2,203$1,366
17 years$4,098$3,429$2,855$2,366$1,953$1,168
18 years$3,830$3,169$2,607$2,132$1,737$1,001
19 years$3,590$2,937$2,386$1,927$1,548$859
20 years$3,375$2,729$2,190$1,745$1,383$739
21 years$3,180$2,542$2,014$1,584$1,237$636
22 years$3,004$2,373$1,857$1,440$1,109$548
23 years$2,843$2,219$1,714$1,312$995$473
24 years$2,695$2,079$1,585$1,196$895$408
25 years$2,560$1,951$1,468$1,092$805$353
26 years$2,435$1,834$1,362$999$725$305
27 years$2,320$1,726$1,265$914$654$264
28 years$2,213$1,626$1,176$838$590$228
29 years$2,114$1,534$1,094$768$533$198
30 years$2,021$1,449$1,019$705$481$171
31 years$1,935$1,370$950$647$435$148
32 years$1,854$1,296$886$595$394$129
33 years$1,778$1,227$828$547$356$111
34 years$1,707$1,163$773$503$323$97
35 years$1,640$1,103$723$463$292$84
36 years$1,577$1,047$676$427$265$73
37 years$1,518$995$633$393$240$63
38 years$1,461$945$593$362$218$55
39 years$1,408$899$555$334$197$47
40 years$1,358$855$521$308$179$41
41 years$1,310$814$488$284$162$36
42 years$1,264$775$458$262$147$31
43 years$1,221$739$430$242$134$27
44 years$1,180$704$403$224$121$23
45 years$1,141$671$379$207$110$20
46 years$1,103$641$356$191$100$18
47 years$1,067$611$334$176$91$15
48 years$1,033$584$314$163$82$13
49 years$1,001$557$295$151$75$11
50 years$970$532$277$139$68$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $993,000, adding $5,326 every year, while hoping to spend $20,705 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: 48/43/9 Blend
60$993,000$993,000$993,000$993,000
61$1,099,780$1,047,151$1,031,759$1,149,646
62$1,189,927$1,076,431$1,044,293$1,213,714
63$1,288,576$1,106,452$1,056,553$1,280,628
64$1,396,571$1,137,229$1,068,508$1,352,799
65$1,514,843$1,168,775$1,080,125$1,430,725
66$1,644,418$1,201,105$1,091,369$1,514,949
67$1,786,423$1,234,234$1,102,205$1,606,073
68$1,942,102$1,268,176$1,112,593$1,704,757
69$2,112,825$1,302,945$1,122,494$1,811,728
70$2,300,100$1,338,556$1,131,864$1,927,786
71$2,505,587$1,375,022$1,140,658$2,053,812
72$2,731,117$1,412,358$1,148,830$2,190,776
73$2,978,704$1,450,577$1,156,329$2,339,746
74$3,250,569$1,489,692$1,163,103$2,501,897
75$3,549,157$1,529,717$1,169,097$2,678,524
76$3,877,163$1,570,665$1,174,254$2,871,052
77$4,237,554$1,612,549$1,178,512$3,081,051
78$4,633,600$1,655,379$1,181,808$3,310,250
79$5,068,903$1,699,168$1,184,074$3,560,554
80$5,547,432$1,743,928$1,185,241$3,834,060
81$6,073,557$1,789,668$1,185,234$4,133,079
82$6,652,096$1,836,398$1,183,975$4,460,156
83$7,288,356$1,884,127$1,181,384$4,818,095
84$7,988,183$1,932,864$1,177,376$5,209,984
85$8,758,020$1,982,617$1,171,860$5,639,226
86$9,604,964$2,033,391$1,164,743$6,109,570
87$10,536,836$2,085,192$1,155,927$6,625,145
88$11,562,251$2,138,025$1,145,309$7,190,503
89$12,690,705$2,191,892$1,132,781$7,810,656
90$13,932,658$2,246,796$1,118,230$8,491,128
91$15,299,636$2,302,736$1,101,538$9,238,006
92$16,804,340$2,359,711$1,082,581$10,057,995
93$18,460,765$2,417,719$1,061,229$10,958,486
94$20,284,330$2,476,754$1,037,347$11,947,619
95$22,292,026$2,536,810$1,010,793$13,034,366
96$24,502,576$2,597,877$981,418$14,228,613
97$26,936,610$2,659,944$949,067$15,541,253
98$29,616,862$2,722,999$913,578$16,984,289
99$32,568,379$2,787,023$874,780$18,570,949
100$35,818,765$2,851,998$832,496$20,315,809