Can I retire at age 61 with 999,000?

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 $999,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$82,496$81,762$81,045$80,345$79,662$78,181
2 years$40,840$40,079$39,342$38,627$37,934$36,448
3 years$26,956$26,192$25,457$24,749$24,067$22,622
4 years$20,016$19,254$18,526$17,830$17,165$15,771
5 years$15,852$15,095$14,377$13,695$13,048$11,711
6 years$13,078$12,327$11,619$10,952$10,325$9,045
7 years$11,097$10,352$9,655$9,004$8,397$7,174
8 years$9,612$8,873$8,188$7,554$6,966$5,801
9 years$8,457$7,726$7,053$6,434$5,866$4,758
10 years$7,534$6,810$6,149$5,546$4,998$3,946
11 years$6,779$6,063$5,413$4,827$4,299$3,301
12 years$6,151$5,441$4,804$4,234$3,725$2,780
13 years$5,620$4,917$4,292$3,738$3,248$2,355
14 years$5,164$4,470$3,857$3,318$2,848$2,004
15 years$4,770$4,083$3,482$2,959$2,507$1,712
16 years$4,426$3,746$3,157$2,650$2,216$1,467
17 years$4,122$3,450$2,873$2,381$1,965$1,261
18 years$3,853$3,188$2,622$2,145$1,747$1,086
19 years$3,612$2,955$2,401$1,939$1,557$937
20 years$3,395$2,746$2,203$1,756$1,391$810
21 years$3,200$2,558$2,026$1,593$1,245$701
22 years$3,022$2,387$1,868$1,449$1,116$607
23 years$2,860$2,233$1,725$1,319$1,001$527
24 years$2,712$2,092$1,595$1,203$900$457
25 years$2,576$1,963$1,477$1,099$810$397
26 years$2,450$1,845$1,370$1,005$730$346
27 years$2,334$1,736$1,272$920$658$301
28 years$2,227$1,636$1,183$843$594$262
29 years$2,127$1,544$1,101$773$536$228
30 years$2,034$1,458$1,025$709$484$199
31 years$1,947$1,378$956$651$438$173
32 years$1,865$1,304$892$599$396$151
33 years$1,789$1,235$833$550$358$131
34 years$1,717$1,170$778$507$325$115
35 years$1,650$1,110$727$466$294$100
36 years$1,587$1,054$680$429$266$87
37 years$1,527$1,001$637$396$241$76
38 years$1,470$951$596$365$219$66
39 years$1,417$904$559$336$198$58
40 years$1,366$860$524$310$180$51
41 years$1,318$819$491$286$163$44
42 years$1,272$780$461$264$148$39
43 years$1,228$743$432$244$134$34
44 years$1,187$708$406$225$122$29
45 years$1,147$676$381$208$111$26
46 years$1,110$644$358$192$101$22
47 years$1,074$615$336$177$91$20
48 years$1,040$587$316$164$83$17
49 years$1,007$561$297$151$75$15
50 years$975$536$279$140$68$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $999,000, adding $6,943 every year, while hoping to spend $39,518 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: 42/46/12 Blend
60$999,000$999,000$999,000$999,000
61$1,108,060$1,055,113$1,039,628$1,150,426
62$1,179,035$1,064,766$1,032,409$1,190,454
63$1,255,925$1,073,569$1,023,623$1,229,292
64$1,339,292$1,081,436$1,013,177$1,270,473
65$1,429,753$1,088,280$1,000,972$1,314,228
66$1,527,988$1,094,005$986,904$1,360,814
67$1,634,742$1,098,511$970,866$1,410,514
68$1,750,840$1,101,692$952,743$1,463,643
69$1,877,184$1,103,433$932,418$1,520,550
70$2,014,769$1,103,614$909,767$1,581,623
71$2,164,691$1,102,106$884,659$1,647,289
72$2,328,153$1,098,774$856,959$1,718,024
73$2,506,483$1,093,472$826,526$1,794,355
74$2,701,139$1,086,047$793,209$1,876,864
75$2,913,729$1,076,337$756,856$1,966,198
76$3,146,021$1,064,169$717,302$2,063,073
77$3,399,962$1,049,359$674,378$2,168,279
78$3,677,695$1,031,716$627,907$2,282,695
79$3,981,583$1,011,032$577,704$2,407,290
80$4,314,222$987,091$523,576$2,543,139
81$4,678,476$959,662$465,319$2,691,430
82$5,077,497$928,501$402,723$2,853,479
83$5,514,755$893,351$335,567$3,030,741
84$5,994,073$853,938$263,622$3,224,823
85$6,519,661$809,973$186,646$3,437,507
86$7,096,155$761,152$104,388$3,670,759
87$7,728,665$707,149$16,586$3,926,756
88$8,422,814$647,625$0$4,207,902
89$9,184,800$582,218$0$4,526,730
90$10,021,448$510,545$0$4,879,213
91$10,940,279$432,205$0$5,266,509
92$11,949,574$346,770$0$5,692,248
93$13,058,459$253,790$0$6,160,435
94$14,276,987$152,790$0$6,675,492
95$15,616,231$43,269$0$7,242,304
96$17,088,392$0$0$7,866,261
97$18,706,912$0$0$8,591,433
98$20,486,599$0$0$9,413,036
99$22,443,769$0$0$10,316,720
100$24,596,397$0$0$11,310,801