Can I retire at age 61 with 997,000?

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 $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%16%
1 years$82,331$81,598$80,882$80,184$79,502$77,549
2 years$40,758$39,999$39,263$38,550$37,858$35,902
3 years$26,902$26,140$25,406$24,699$24,019$22,121
4 years$19,976$19,216$18,489$17,795$17,130$15,306
5 years$15,821$15,065$14,348$13,668$13,022$11,276
6 years$13,052$12,302$11,596$10,930$10,304$8,638
7 years$11,075$10,331$9,636$8,986$8,380$6,794
8 years$9,592$8,856$8,172$7,538$6,952$5,446
9 years$8,440$7,710$7,039$6,421$5,855$4,427
10 years$7,519$6,796$6,136$5,535$4,988$3,637
11 years$6,766$6,050$5,402$4,817$4,290$3,014
12 years$6,139$5,431$4,794$4,225$3,718$2,514
13 years$5,608$4,908$4,284$3,730$3,242$2,108
14 years$5,154$4,461$3,849$3,311$2,842$1,776
15 years$4,761$4,075$3,475$2,953$2,502$1,501
16 years$4,417$3,739$3,151$2,644$2,211$1,273
17 years$4,114$3,443$2,867$2,376$1,961$1,082
18 years$3,845$3,182$2,617$2,141$1,744$922
19 years$3,605$2,949$2,396$1,935$1,554$786
20 years$3,388$2,740$2,199$1,752$1,388$672
21 years$3,193$2,552$2,022$1,590$1,242$575
22 years$3,016$2,383$1,864$1,446$1,113$493
23 years$2,854$2,228$1,721$1,317$999$422
24 years$2,706$2,088$1,592$1,201$898$362
25 years$2,570$1,959$1,474$1,097$808$311
26 years$2,445$1,841$1,367$1,003$728$267
27 years$2,329$1,733$1,270$918$657$230
28 years$2,222$1,633$1,180$841$592$198
29 years$2,122$1,541$1,098$771$535$170
30 years$2,029$1,455$1,023$708$483$146
31 years$1,943$1,375$954$650$437$126
32 years$1,862$1,301$890$597$395$108
33 years$1,785$1,232$831$549$358$93
34 years$1,714$1,168$776$505$324$80
35 years$1,647$1,108$726$465$293$69
36 years$1,583$1,052$679$429$266$60
37 years$1,524$999$636$395$241$51
38 years$1,467$949$595$364$218$44
39 years$1,414$903$558$336$198$38
40 years$1,363$859$523$310$180$33
41 years$1,315$817$490$286$163$28
42 years$1,269$778$460$264$148$24
43 years$1,226$742$431$243$134$21
44 years$1,185$707$405$225$122$18
45 years$1,145$674$380$207$111$16
46 years$1,108$643$357$192$100$13
47 years$1,072$614$335$177$91$12
48 years$1,038$586$315$164$83$10
49 years$1,005$560$296$151$75$9
50 years$973$534$279$140$68$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $997,000, adding $2,448 every year, while hoping to spend $50,171 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: 51/28/21 Blend
60$997,000$997,000$997,000$997,000
61$1,101,219$1,048,378$1,032,925$1,150,834
62$1,160,162$1,046,367$1,014,146$1,183,363
63$1,223,435$1,042,576$993,057$1,213,356
64$1,291,428$1,036,865$969,527$1,244,911
65$1,364,567$1,029,084$943,419$1,278,195
66$1,443,321$1,019,077$914,592$1,313,395
67$1,528,204$1,006,676$882,895$1,350,718
68$1,619,781$991,704$848,172$1,390,395
69$1,718,674$973,973$810,261$1,432,686
70$1,825,565$953,283$768,991$1,477,879
71$1,941,203$929,425$724,183$1,526,295
72$2,066,414$902,175$675,651$1,578,290
73$2,202,104$871,297$623,201$1,634,264
74$2,349,268$836,540$566,628$1,694,659
75$2,509,004$797,641$505,720$1,759,966
76$2,682,516$754,319$440,255$1,830,734
77$2,871,130$706,279$370,002$1,907,570
78$3,076,306$653,207$294,717$1,991,150
79$3,299,647$594,772$214,148$2,082,224
80$3,542,921$530,625$128,032$2,181,624
81$3,808,070$460,397$36,092$2,290,275
82$4,097,232$383,696$0$2,409,202
83$4,412,763$300,110$0$2,553,439
84$4,757,253$209,203$0$2,719,883
85$5,133,553$110,515$0$2,901,905
86$5,544,805$3,560$0$3,101,126
87$5,994,465$0$0$3,319,340
88$6,486,339$0$0$3,593,087
89$7,024,618$0$0$3,893,961
90$7,613,916$0$0$4,223,457
91$8,259,316$0$0$4,584,429
92$8,966,413$0$0$4,980,022
93$9,741,371$0$0$5,413,696
94$10,590,976$0$0$5,889,265
95$11,522,704$0$0$6,410,928
96$12,544,790$0$0$6,983,311
97$13,666,301$0$0$7,611,509
98$14,897,228$0$0$8,301,133
99$16,248,573$0$0$9,058,367
100$17,732,458$0$0$9,890,020