Can I retire at age 61 with 997,000?

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 $997,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$82,331$81,598$80,882$80,184$79,502$78,444
2 years$40,758$39,999$39,263$38,550$37,858$36,793
3 years$26,902$26,140$25,406$24,699$24,019$22,981
4 years$19,976$19,216$18,489$17,795$17,130$16,127
5 years$15,821$15,065$14,348$13,668$13,022$12,057
6 years$13,052$12,302$11,596$10,930$10,304$9,378
7 years$11,075$10,331$9,636$8,986$8,380$7,493
8 years$9,592$8,856$8,172$7,538$6,952$6,104
9 years$8,440$7,710$7,039$6,421$5,855$5,046
10 years$7,519$6,796$6,136$5,535$4,988$4,218
11 years$6,766$6,050$5,402$4,817$4,290$3,557
12 years$6,139$5,431$4,794$4,225$3,718$3,021
13 years$5,608$4,908$4,284$3,730$3,242$2,581
14 years$5,154$4,461$3,849$3,311$2,842$2,216
15 years$4,761$4,075$3,475$2,953$2,502$1,910
16 years$4,417$3,739$3,151$2,644$2,211$1,651
17 years$4,114$3,443$2,867$2,376$1,961$1,432
18 years$3,845$3,182$2,617$2,141$1,744$1,245
19 years$3,605$2,949$2,396$1,935$1,554$1,085
20 years$3,388$2,740$2,199$1,752$1,388$947
21 years$3,193$2,552$2,022$1,590$1,242$827
22 years$3,016$2,383$1,864$1,446$1,113$724
23 years$2,854$2,228$1,721$1,317$999$635
24 years$2,706$2,088$1,592$1,201$898$557
25 years$2,570$1,959$1,474$1,097$808$489
26 years$2,445$1,841$1,367$1,003$728$429
27 years$2,329$1,733$1,270$918$657$377
28 years$2,222$1,633$1,180$841$592$332
29 years$2,122$1,541$1,098$771$535$292
30 years$2,029$1,455$1,023$708$483$257
31 years$1,943$1,375$954$650$437$227
32 years$1,862$1,301$890$597$395$200
33 years$1,785$1,232$831$549$358$176
34 years$1,714$1,168$776$505$324$155
35 years$1,647$1,108$726$465$293$137
36 years$1,583$1,052$679$429$266$121
37 years$1,524$999$636$395$241$106
38 years$1,467$949$595$364$218$94
39 years$1,414$903$558$336$198$83
40 years$1,363$859$523$310$180$73
41 years$1,315$817$490$286$163$65
42 years$1,269$778$460$264$148$57
43 years$1,226$742$431$243$134$50
44 years$1,185$707$405$225$122$44
45 years$1,145$674$380$207$111$39
46 years$1,108$643$357$192$100$35
47 years$1,072$614$335$177$91$31
48 years$1,038$586$315$164$83$27
49 years$1,005$560$296$151$75$24
50 years$973$534$279$140$68$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $997,000, adding $6,714 every year, while hoping to spend $46,254 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: 60/13/27 Blend
60$997,000$997,000$997,000$997,000
61$1,105,619$1,052,778$1,037,325$1,163,533
62$1,169,179$1,055,151$1,022,861$1,206,147
63$1,237,671$1,056,089$1,006,363$1,247,077
64$1,311,550$1,055,474$987,713$1,290,760
65$1,391,316$1,053,180$966,789$1,337,476
66$1,477,516$1,049,071$943,462$1,387,532
67$1,570,753$1,043,007$917,599$1,441,271
68$1,671,691$1,034,835$889,060$1,499,072
69$1,781,057$1,024,395$857,696$1,561,352
70$1,899,652$1,011,518$823,356$1,628,576
71$2,028,357$996,023$785,879$1,701,257
72$2,168,140$977,719$745,097$1,779,963
73$2,320,068$956,404$700,835$1,865,322
74$2,485,311$931,865$652,910$1,958,028
75$2,665,160$903,874$601,130$2,058,850
76$2,861,034$872,191$545,295$2,168,639
77$3,074,494$836,563$485,197$2,288,333
78$3,307,258$796,720$420,617$2,418,972
79$3,561,218$752,379$351,327$2,561,703
80$3,838,455$703,238$277,089$2,717,797
81$4,141,261$648,981$197,656$2,888,655
82$4,472,159$589,270$112,766$3,075,828
83$4,833,926$523,751$22,150$3,281,028
84$5,229,619$452,048$0$3,506,148
85$5,662,607$373,764$0$3,774,755
86$6,136,595$288,481$0$4,075,886
87$6,655,667$195,756$0$4,405,790
88$7,224,318$95,121$0$4,767,377
89$7,847,499$0$0$5,163,852
90$8,530,664$0$0$5,600,740
91$9,279,816$0$0$6,094,828
92$10,101,572$0$0$6,636,882
93$11,003,216$0$0$7,231,717
94$11,992,773$0$0$7,884,639
95$13,079,082$0$0$8,601,489
96$14,271,881$0$0$9,388,707
97$15,581,896$0$0$10,253,381
98$17,020,942$0$0$11,203,323
99$18,602,036$0$0$12,247,138
100$20,339,518$0$0$13,394,306