Can I retire at age 61 with 948,000?

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 $948,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$78,285$77,588$76,907$76,243$75,595$74,527
2 years$38,755$38,033$37,334$36,655$35,998$34,923
3 years$25,580$24,855$24,157$23,485$22,838$21,792
4 years$18,994$18,271$17,580$16,920$16,288$15,277
5 years$15,043$14,325$13,643$12,996$12,382$11,410
6 years$12,410$11,697$11,026$10,393$9,798$8,865
7 years$10,530$9,823$9,162$8,545$7,968$7,075
8 years$9,121$8,420$7,770$7,168$6,610$5,757
9 years$8,025$7,331$6,693$6,106$5,567$4,753
10 years$7,149$6,462$5,835$5,263$4,743$3,968
11 years$6,433$5,753$5,137$4,580$4,079$3,342
12 years$5,837$5,164$4,559$4,018$3,535$2,835
13 years$5,333$4,666$4,073$3,547$3,083$2,419
14 years$4,901$4,242$3,660$3,149$2,702$2,074
15 years$4,527$3,875$3,304$2,808$2,379$1,785
16 years$4,200$3,555$2,996$2,514$2,103$1,542
17 years$3,912$3,274$2,726$2,259$1,864$1,335
18 years$3,656$3,025$2,488$2,036$1,658$1,159
19 years$3,427$2,804$2,278$1,840$1,478$1,008
20 years$3,222$2,606$2,091$1,666$1,320$879
21 years$3,036$2,427$1,923$1,512$1,181$767
22 years$2,868$2,265$1,772$1,375$1,059$670
23 years$2,714$2,119$1,636$1,252$950$586
24 years$2,573$1,985$1,513$1,142$854$513
25 years$2,444$1,863$1,402$1,043$769$450
26 years$2,325$1,751$1,300$954$692$395
27 years$2,215$1,648$1,207$873$624$346
28 years$2,113$1,553$1,122$800$563$304
29 years$2,018$1,465$1,044$733$509$267
30 years$1,930$1,383$973$673$460$235
31 years$1,847$1,308$907$618$415$207
32 years$1,770$1,237$846$568$376$182
33 years$1,698$1,172$790$522$340$160
34 years$1,630$1,111$738$481$308$141
35 years$1,566$1,053$690$442$279$124
36 years$1,506$1,000$646$407$253$109
37 years$1,449$950$604$375$229$96
38 years$1,395$902$566$346$208$85
39 years$1,344$858$530$319$188$75
40 years$1,296$816$497$294$171$66
41 years$1,250$777$466$272$155$58
42 years$1,207$740$437$251$141$51
43 years$1,166$705$410$231$128$45
44 years$1,126$672$385$214$116$40
45 years$1,089$641$362$197$105$35
46 years$1,053$612$340$182$95$31
47 years$1,019$584$319$168$87$27
48 years$987$557$300$156$79$24
49 years$955$532$282$144$72$21
50 years$926$508$265$133$65$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $948,000, adding $4,409 every year, while hoping to spend $30,733 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: 80/10/10 Blend
60$948,000$948,000$948,000$948,000
61$1,049,244$999,000$984,306$1,131,128
62$1,123,567$1,015,251$984,580$1,201,731
63$1,204,441$1,031,269$983,834$1,274,725
64$1,292,502$1,047,009$982,000$1,353,917
65$1,388,449$1,062,424$979,009$1,439,910
66$1,493,052$1,077,464$974,787$1,533,371
67$1,607,159$1,092,075$969,258$1,635,034
68$1,731,702$1,106,199$962,341$1,745,705
69$1,867,707$1,119,775$953,951$1,866,276
70$2,016,305$1,132,736$944,000$1,997,726
71$2,178,740$1,145,012$932,396$2,141,136
72$2,356,382$1,156,528$919,042$2,297,695
73$2,550,738$1,167,203$903,835$2,468,714
74$2,763,470$1,176,953$886,670$2,655,638
75$2,996,406$1,185,686$867,436$2,860,057
76$3,251,561$1,193,305$846,016$3,083,725
77$3,531,150$1,199,708$822,288$3,328,573
78$3,837,618$1,204,784$796,125$3,596,731
79$4,173,654$1,208,417$767,394$3,890,544
80$4,542,220$1,210,483$735,955$4,212,597
81$4,946,580$1,210,850$701,663$4,565,736
82$5,390,328$1,209,378$664,366$4,953,102
83$5,877,422$1,205,919$623,903$5,378,152
84$6,412,225$1,200,315$580,109$5,844,698
85$6,999,540$1,192,398$532,811$6,356,939
86$7,644,659$1,181,991$481,826$6,919,503
87$8,353,411$1,168,906$426,964$7,537,492
88$9,132,220$1,152,943$368,028$8,216,525
89$9,988,160$1,133,891$304,811$8,962,797
90$10,929,027$1,111,526$237,096$9,783,134
91$11,963,407$1,085,610$164,659$10,685,060
92$13,100,762$1,055,892$87,262$11,676,863
93$14,351,515$1,022,107$4,661$12,767,681
94$15,727,151$983,972$0$13,967,582
95$17,240,323$941,189$0$15,296,571
96$18,904,973$893,444$0$16,759,079
97$20,736,460$840,402$0$18,368,114
98$22,751,708$781,712$0$20,138,559
99$24,969,367$716,999$0$22,086,816
100$27,409,981$645,871$0$24,230,957