Can I retire at age 61 with 995,000?

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 $995,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$82,166$81,434$80,720$80,023$79,343$78,157
2 years$40,676$39,919$39,185$38,473$37,782$36,590
3 years$26,848$26,087$25,355$24,650$23,971$22,810
4 years$19,935$19,177$18,452$17,759$17,096$15,975
5 years$15,789$15,035$14,319$13,640$12,996$11,918
6 years$13,025$12,277$11,572$10,908$10,283$9,250
7 years$11,052$10,310$9,617$8,968$8,363$7,374
8 years$9,573$8,838$8,156$7,523$6,938$5,993
9 years$8,423$7,695$7,024$6,408$5,843$4,942
10 years$7,504$6,783$6,124$5,524$4,978$4,121
11 years$6,752$6,038$5,392$4,808$4,282$3,467
12 years$6,126$5,420$4,785$4,217$3,710$2,937
13 years$5,597$4,898$4,275$3,723$3,235$2,503
14 years$5,144$4,452$3,841$3,305$2,836$2,143
15 years$4,751$4,067$3,468$2,947$2,497$1,842
16 years$4,408$3,731$3,144$2,639$2,207$1,588
17 years$4,106$3,436$2,861$2,371$1,957$1,374
18 years$3,837$3,175$2,612$2,137$1,740$1,191
19 years$3,597$2,943$2,391$1,931$1,551$1,034
20 years$3,382$2,735$2,194$1,749$1,385$900
21 years$3,187$2,547$2,018$1,587$1,240$784
22 years$3,010$2,378$1,860$1,443$1,111$684
23 years$2,849$2,224$1,718$1,314$997$598
24 years$2,701$2,084$1,588$1,199$897$523
25 years$2,565$1,955$1,471$1,095$807$457
26 years$2,440$1,838$1,365$1,001$727$401
27 years$2,325$1,730$1,267$916$655$351
28 years$2,218$1,630$1,178$839$591$308
29 years$2,118$1,537$1,096$770$534$270
30 years$2,025$1,452$1,021$706$482$237
31 years$1,939$1,373$952$649$436$208
32 years$1,858$1,299$888$596$394$183
33 years$1,782$1,230$829$548$357$161
34 years$1,711$1,166$775$504$323$141
35 years$1,644$1,106$724$464$293$124
36 years$1,580$1,049$678$428$265$109
37 years$1,521$997$634$394$240$96
38 years$1,464$947$594$363$218$84
39 years$1,411$901$556$335$198$74
40 years$1,360$857$522$309$179$65
41 years$1,312$816$489$285$163$57
42 years$1,267$777$459$263$148$50
43 years$1,223$740$430$243$134$44
44 years$1,182$706$404$224$122$39
45 years$1,143$673$379$207$110$34
46 years$1,105$642$356$191$100$30
47 years$1,070$613$335$177$91$27
48 years$1,035$585$315$163$83$23
49 years$1,003$558$296$151$75$21
50 years$971$533$278$139$68$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $995,000, adding $2,163 every year, while hoping to spend $23,734 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: 66/6/28 Blend
60$995,000$995,000$995,000$995,000
61$1,098,721$1,045,986$1,030,564$1,163,003
62$1,185,538$1,071,987$1,039,835$1,232,655
63$1,280,415$1,098,466$1,048,621$1,305,933
64$1,384,148$1,125,422$1,056,881$1,385,533
65$1,497,616$1,152,852$1,064,571$1,472,079
66$1,621,785$1,180,754$1,071,646$1,566,263
67$1,757,718$1,209,122$1,078,058$1,668,842
68$1,906,588$1,237,952$1,083,755$1,780,655
69$2,069,684$1,267,235$1,088,685$1,902,625
70$2,248,427$1,296,966$1,092,792$2,035,767
71$2,444,384$1,327,134$1,096,017$2,181,203
72$2,659,276$1,357,728$1,098,298$2,340,168
73$2,895,002$1,388,737$1,099,572$2,514,023
74$3,153,653$1,420,146$1,099,769$2,704,268
75$3,437,533$1,451,941$1,098,818$2,912,557
76$3,749,178$1,484,102$1,096,645$3,140,713
77$4,091,383$1,516,612$1,093,171$3,390,745
78$4,467,226$1,549,448$1,088,315$3,664,865
79$4,880,099$1,582,587$1,081,989$3,965,515
80$5,333,737$1,616,001$1,074,103$4,295,383
81$5,832,255$1,649,663$1,064,563$4,657,434
82$6,380,189$1,683,540$1,053,270$5,054,936
83$6,982,533$1,717,598$1,040,119$5,491,488
84$7,644,790$1,751,799$1,025,002$5,971,061
85$8,373,024$1,786,103$1,007,804$6,498,028
86$9,173,914$1,820,463$988,408$7,077,210
87$10,054,820$1,854,833$966,686$7,713,922
88$11,023,852$1,889,160$942,510$8,414,020
89$12,089,943$1,923,387$915,743$9,183,960
90$13,262,938$1,957,454$886,241$10,030,855
91$14,553,683$1,991,294$853,855$10,962,549
92$15,974,128$2,024,837$818,429$11,987,682
93$17,537,442$2,058,007$779,799$13,115,781
94$19,258,133$2,090,721$737,794$14,357,344
95$21,152,188$2,122,893$692,236$15,723,940
96$23,237,224$2,154,427$642,938$17,228,324
97$25,532,650$2,185,223$589,706$18,884,549
98$28,059,854$2,215,173$532,335$20,708,106
99$30,842,404$2,244,160$470,613$22,716,066
100$33,906,267$2,272,063$404,316$24,927,246