Can I retire at age 61 with 947,000?

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 $947,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$78,202$77,506$76,826$76,163$75,515$74,633
2 years$38,714$37,993$37,294$36,617$35,960$35,072
3 years$25,553$24,829$24,132$23,461$22,814$21,949
4 years$18,974$18,252$17,562$16,902$16,271$15,434
5 years$15,027$14,310$13,629$12,982$12,369$11,563
6 years$12,397$11,685$11,014$10,382$9,787$9,013
7 years$10,519$9,813$9,153$8,536$7,960$7,217
8 years$9,111$8,412$7,762$7,160$6,603$5,893
9 years$8,017$7,324$6,686$6,099$5,561$4,883
10 years$7,142$6,456$5,829$5,257$4,738$4,091
11 years$6,427$5,747$5,131$4,576$4,075$3,459
12 years$5,831$5,158$4,554$4,013$3,531$2,945
13 years$5,327$4,661$4,069$3,543$3,079$2,523
14 years$4,896$4,237$3,656$3,145$2,699$2,172
15 years$4,522$3,871$3,301$2,805$2,377$1,877
16 years$4,196$3,551$2,993$2,512$2,101$1,627
17 years$3,908$3,271$2,723$2,257$1,863$1,415
18 years$3,652$3,022$2,486$2,034$1,656$1,234
19 years$3,424$2,801$2,276$1,838$1,476$1,078
20 years$3,219$2,603$2,088$1,664$1,318$944
21 years$3,033$2,424$1,921$1,510$1,180$827
22 years$2,865$2,263$1,771$1,373$1,058$726
23 years$2,711$2,117$1,635$1,251$949$638
24 years$2,571$1,983$1,512$1,141$853$562
25 years$2,442$1,861$1,400$1,042$768$495
26 years$2,323$1,749$1,299$953$692$436
27 years$2,213$1,646$1,206$872$624$385
28 years$2,111$1,551$1,121$799$563$339
29 years$2,016$1,463$1,043$733$508$300
30 years$1,928$1,382$972$672$459$265
31 years$1,845$1,306$906$617$415$234
32 years$1,768$1,236$845$567$375$207
33 years$1,696$1,171$789$522$340$183
34 years$1,628$1,109$737$480$308$162
35 years$1,564$1,052$689$442$279$143
36 years$1,504$999$645$407$252$127
37 years$1,447$949$604$375$229$112
38 years$1,394$902$565$346$207$99
39 years$1,343$857$530$319$188$88
40 years$1,295$816$496$294$171$78
41 years$1,249$776$465$271$155$69
42 years$1,206$739$437$250$140$61
43 years$1,164$705$410$231$127$54
44 years$1,125$672$385$213$116$48
45 years$1,088$640$361$197$105$42
46 years$1,052$611$339$182$95$38
47 years$1,018$583$319$168$87$33
48 years$985$557$299$155$79$30
49 years$954$531$281$144$71$26
50 years$925$508$265$133$65$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $947,000, adding $4,513 every year, while hoping to spend $55,788 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: 40/44/16 Blend
60$947,000$947,000$947,000$947,000
61$1,048,249$998,058$983,380$1,085,028
62$1,095,813$987,605$956,965$1,101,137
63$1,146,358$974,770$927,795$1,112,796
64$1,200,130$959,377$895,720$1,124,221
65$1,257,397$941,241$860,581$1,135,417
66$1,318,454$920,164$822,212$1,146,397
67$1,383,621$895,937$780,442$1,157,177
68$1,453,252$868,340$735,088$1,167,781
69$1,527,734$837,138$685,964$1,178,240
70$1,607,489$802,084$632,870$1,188,594
71$1,692,983$762,917$575,601$1,198,894
72$1,784,726$719,358$513,942$1,209,201
73$1,883,277$671,115$447,668$1,219,589
74$1,989,250$617,879$376,544$1,230,147
75$2,103,319$559,321$300,324$1,240,981
76$2,226,226$495,095$218,753$1,252,215
77$2,358,782$424,836$131,562$1,263,994
78$2,501,882$348,157$38,473$1,276,489
79$2,656,507$264,650$0$1,289,896
80$2,823,735$173,883$0$1,314,831
81$3,004,754$75,400$0$1,348,849
82$3,200,865$0$0$1,385,728
83$3,413,503$0$0$1,441,007
84$3,644,244$0$0$1,540,713
85$3,894,822$0$0$1,649,098
86$4,167,142$0$0$1,767,004
87$4,463,303$0$0$1,895,350
88$4,785,613$0$0$2,035,154
89$5,136,611$0$0$2,187,532
90$5,519,090$0$0$2,353,713
91$5,936,127$0$0$2,535,051
92$6,391,105$0$0$2,733,036
93$6,887,750$0$0$2,949,305
94$7,430,162$0$0$3,185,666
95$8,022,856$0$0$3,444,105
96$8,670,802$0$0$3,726,810
97$9,379,471$0$0$4,036,190
98$10,154,888$0$0$4,374,898
99$11,003,686$0$0$4,745,855
100$11,933,172$0$0$5,152,278