Can I retire at age 61 with 938,000?

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 $938,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$77,459$76,769$76,096$75,439$74,797$74,295
2 years$38,346$37,632$36,940$36,269$35,618$35,111
3 years$25,310$24,593$23,903$23,238$22,597$22,102
4 years$18,793$18,078$17,395$16,741$16,117$15,636
5 years$14,884$14,174$13,499$12,859$12,252$11,788
6 years$12,279$11,574$10,909$10,283$9,694$9,248
7 years$10,419$9,720$9,066$8,455$7,884$7,455
8 years$9,025$8,332$7,688$7,092$6,541$6,129
9 years$7,941$7,254$6,622$6,041$5,508$5,114
10 years$7,074$6,394$5,773$5,208$4,693$4,316
11 years$6,365$5,692$5,083$4,532$4,036$3,676
12 years$5,775$5,109$4,511$3,975$3,498$3,154
13 years$5,276$4,617$4,030$3,510$3,050$2,723
14 years$4,849$4,197$3,621$3,115$2,674$2,362
15 years$4,479$3,834$3,269$2,778$2,354$2,058
16 years$4,156$3,518$2,964$2,488$2,081$1,799
17 years$3,871$3,240$2,697$2,235$1,845$1,578
18 years$3,618$2,993$2,462$2,014$1,640$1,388
19 years$3,391$2,774$2,254$1,820$1,462$1,223
20 years$3,188$2,578$2,069$1,649$1,306$1,080
21 years$3,004$2,401$1,903$1,496$1,169$955
22 years$2,837$2,242$1,754$1,360$1,048$846
23 years$2,685$2,096$1,619$1,239$940$751
24 years$2,546$1,964$1,497$1,130$845$667
25 years$2,418$1,843$1,387$1,032$761$592
26 years$2,300$1,732$1,286$944$685$527
27 years$2,192$1,630$1,194$864$618$469
28 years$2,091$1,536$1,110$791$557$418
29 years$1,997$1,449$1,033$726$503$373
30 years$1,909$1,369$963$666$455$333
31 years$1,828$1,294$897$612$411$297
32 years$1,751$1,224$837$562$372$265
33 years$1,680$1,159$782$517$337$237
34 years$1,613$1,099$730$476$305$212
35 years$1,549$1,042$683$438$276$189
36 years$1,490$989$639$403$250$169
37 years$1,434$940$598$371$227$151
38 years$1,380$893$560$342$205$135
39 years$1,330$849$525$316$186$121
40 years$1,282$808$492$291$169$108
41 years$1,237$769$461$269$153$97
42 years$1,194$732$432$248$139$87
43 years$1,153$698$406$229$126$78
44 years$1,114$665$381$211$115$69
45 years$1,077$634$358$195$104$62
46 years$1,042$605$336$180$94$56
47 years$1,008$577$316$167$86$50
48 years$976$551$297$154$78$45
49 years$945$526$279$142$71$40
50 years$916$503$262$131$64$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $938,000, adding $3,769 every year, while hoping to spend $22,574 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: 27/43/30 Blend
60$938,000$938,000$938,000$938,000
61$1,037,564$987,850$973,311$1,055,853
62$1,119,377$1,012,236$981,898$1,095,495
63$1,208,778$1,037,060$990,017$1,135,854
64$1,306,518$1,062,321$997,627$1,178,735
65$1,413,422$1,088,014$1,004,686$1,224,369
66$1,530,400$1,114,135$1,011,153$1,273,011
67$1,658,453$1,140,681$1,016,979$1,324,943
68$1,798,685$1,167,643$1,022,117$1,380,474
69$1,952,308$1,195,015$1,026,515$1,439,947
70$2,120,662$1,222,789$1,030,121$1,503,740
71$2,305,217$1,250,954$1,032,878$1,572,268
72$2,507,597$1,279,498$1,034,728$1,645,992
73$2,729,588$1,308,410$1,035,607$1,725,418
74$2,973,158$1,337,674$1,035,452$1,811,104
75$3,240,475$1,367,274$1,034,194$1,903,668
76$3,533,925$1,397,193$1,031,761$2,003,788
77$3,856,140$1,427,409$1,028,080$2,112,217
78$4,210,015$1,457,901$1,023,069$2,229,780
79$4,598,743$1,488,645$1,016,649$2,357,392
80$5,025,840$1,519,614$1,008,731$2,496,060
81$5,495,178$1,550,777$999,226$2,646,894
82$6,011,025$1,582,104$988,039$2,811,121
83$6,578,081$1,613,559$975,070$2,990,093
84$7,201,526$1,645,104$960,216$3,185,302
85$7,887,066$1,676,698$943,367$3,398,392
86$8,640,986$1,708,296$924,410$3,631,179
87$9,470,214$1,739,850$903,225$3,885,665
88$10,382,380$1,771,307$879,687$4,164,059
89$11,385,893$1,802,610$853,666$4,468,796
90$12,490,016$1,833,700$825,026$4,802,563
91$13,704,956$1,864,510$793,623$5,168,324
92$15,041,961$1,894,971$759,309$5,569,345
93$16,513,421$1,925,005$721,926$6,009,233
94$18,132,992$1,954,532$681,312$6,491,963
95$19,915,718$1,983,465$637,297$7,021,919
96$21,878,177$2,011,710$589,702$7,603,936
97$24,038,634$2,039,167$538,341$8,243,346
98$26,417,218$2,065,730$483,018$8,946,031
99$29,036,107$2,091,283$423,532$9,718,473
100$31,919,739$2,115,705$359,669$10,567,824