Can I retire at age 61 with 943,000?

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 $943,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$77,872$77,178$76,502$75,841$75,196$73,438
2 years$38,551$37,833$37,137$36,462$35,808$34,046
3 years$25,445$24,724$24,030$23,362$22,718$21,008
4 years$18,894$18,175$17,488$16,831$16,203$14,558
5 years$14,964$14,249$13,571$12,928$12,317$10,742
6 years$12,345$11,636$10,967$10,338$9,746$8,242
7 years$10,475$9,772$9,114$8,500$7,926$6,494
8 years$9,073$8,376$7,729$7,130$6,575$5,214
9 years$7,983$7,293$6,657$6,073$5,537$4,246
10 years$7,112$6,428$5,804$5,235$4,718$3,495
11 years$6,399$5,723$5,110$4,556$4,058$2,902
12 years$5,806$5,136$4,535$3,996$3,516$2,425
13 years$5,305$4,642$4,052$3,528$3,066$2,038
14 years$4,875$4,219$3,640$3,132$2,688$1,720
15 years$4,503$3,854$3,287$2,793$2,367$1,457
16 years$4,178$3,536$2,980$2,501$2,092$1,238
17 years$3,891$3,257$2,712$2,247$1,855$1,055
18 years$3,637$3,009$2,475$2,025$1,649$900
19 years$3,409$2,789$2,266$1,830$1,470$770
20 years$3,205$2,592$2,080$1,657$1,313$660
21 years$3,020$2,414$1,913$1,504$1,175$566
22 years$2,853$2,254$1,763$1,368$1,053$486
23 years$2,700$2,108$1,628$1,245$945$417
24 years$2,560$1,975$1,505$1,136$850$359
25 years$2,431$1,853$1,394$1,037$765$309
26 years$2,313$1,742$1,293$949$689$266
27 years$2,203$1,639$1,201$868$621$229
28 years$2,102$1,545$1,116$795$560$198
29 years$2,007$1,457$1,039$729$506$170
30 years$1,920$1,376$968$669$457$147
31 years$1,837$1,301$902$615$413$127
32 years$1,761$1,231$842$565$374$109
33 years$1,689$1,166$786$520$338$94
34 years$1,621$1,105$734$478$306$82
35 years$1,558$1,048$687$440$277$70
36 years$1,498$995$642$405$251$61
37 years$1,441$945$601$373$228$53
38 years$1,388$898$563$344$207$45
39 years$1,337$854$527$317$187$39
40 years$1,289$812$494$293$170$34
41 years$1,244$773$464$270$154$29
42 years$1,201$736$435$249$140$25
43 years$1,160$702$408$230$127$22
44 years$1,120$669$383$212$115$19
45 years$1,083$638$360$196$105$16
46 years$1,048$608$338$181$95$14
47 years$1,014$581$317$167$86$12
48 years$981$554$298$155$78$11
49 years$950$529$280$143$71$9
50 years$921$506$263$132$65$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $943,000, adding $2,374 every year, while hoping to spend $40,654 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: 71/8/21 Blend
60$943,000$943,000$943,000$943,000
61$1,041,635$991,656$977,039$1,110,063
62$1,104,626$996,991$966,515$1,161,323
63$1,172,680$1,001,226$954,275$1,212,382
64$1,246,270$1,004,262$940,219$1,267,282
65$1,325,916$1,005,998$924,243$1,326,398
66$1,412,190$1,006,323$906,237$1,390,145
67$1,505,723$1,005,122$886,085$1,458,980
68$1,607,204$1,002,270$863,666$1,533,409
69$1,717,395$997,638$838,855$1,613,988
70$1,837,133$991,086$811,520$1,701,332
71$1,967,338$982,466$781,524$1,796,119
72$2,109,022$971,623$748,721$1,899,096
73$2,263,301$958,391$712,961$2,011,090
74$2,431,399$942,593$674,087$2,133,010
75$2,614,666$924,045$631,933$2,265,862
76$2,814,588$902,549$586,328$2,410,753
77$3,032,798$877,896$537,092$2,568,905
78$3,271,095$849,865$484,037$2,741,668
79$3,531,461$818,223$426,967$2,930,528
80$3,816,076$782,722$365,676$3,137,128
81$4,127,341$743,100$299,951$3,363,276
82$4,467,898$699,080$229,568$3,610,970
83$4,840,659$650,370$154,293$3,882,411
84$5,248,827$596,659$73,884$4,180,029
85$5,695,933$537,621$0$4,506,503
86$6,185,864$472,910$0$4,867,460
87$6,722,899$402,159$0$5,281,326
88$7,311,752$324,983$0$5,735,185
89$7,957,618$240,974$0$6,233,065
90$8,666,213$149,700$0$6,779,404
91$9,443,839$50,707$0$7,379,092
92$10,297,432$0$0$8,037,517
93$11,234,638$0$0$8,765,590
94$12,263,875$0$0$9,570,110
95$13,394,418$0$0$10,453,870
96$14,636,484$0$0$11,424,862
97$16,001,330$0$0$12,491,894
98$17,501,357$0$0$13,664,667
99$19,150,224$0$0$14,953,868
100$20,962,983$0$0$16,371,274