Can I retire at age 61 with 949,000?

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 $949,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$78,368$77,669$76,988$76,324$75,675$73,194
2 years$38,796$38,073$37,373$36,694$36,036$33,560
3 years$25,607$24,881$24,183$23,510$22,862$20,469
4 years$19,014$18,290$17,599$16,938$16,306$14,014
5 years$15,059$14,340$13,657$13,010$12,395$10,211
6 years$12,423$11,710$11,037$10,404$9,808$7,732
7 years$10,541$9,834$9,172$8,554$7,977$6,010
8 years$9,131$8,429$7,779$7,176$6,617$4,758
9 years$8,034$7,339$6,700$6,112$5,573$3,819
10 years$7,157$6,469$5,841$5,269$4,748$3,097
11 years$6,440$5,759$5,142$4,585$4,084$2,531
12 years$5,843$5,169$4,564$4,022$3,539$2,082
13 years$5,338$4,671$4,077$3,551$3,086$1,722
14 years$4,906$4,246$3,663$3,152$2,705$1,429
15 years$4,532$3,879$3,308$2,811$2,382$1,191
16 years$4,204$3,559$2,999$2,517$2,105$994
17 years$3,916$3,278$2,729$2,261$1,866$832
18 years$3,660$3,029$2,491$2,038$1,660$698
19 years$3,431$2,807$2,280$1,842$1,479$586
20 years$3,225$2,608$2,093$1,668$1,321$493
21 years$3,039$2,430$1,925$1,514$1,182$415
22 years$2,871$2,268$1,774$1,376$1,060$350
23 years$2,717$2,121$1,638$1,253$951$295
24 years$2,576$1,987$1,515$1,143$855$249
25 years$2,447$1,865$1,403$1,044$769$210
26 years$2,327$1,753$1,301$955$693$178
27 years$2,217$1,650$1,209$874$625$150
28 years$2,115$1,554$1,123$801$564$127
29 years$2,020$1,466$1,045$734$509$107
30 years$1,932$1,385$974$674$460$91
31 years$1,849$1,309$908$619$416$77
32 years$1,772$1,239$847$569$376$65
33 years$1,700$1,173$791$523$340$55
34 years$1,632$1,112$739$481$308$46
35 years$1,568$1,055$691$443$279$39
36 years$1,507$1,001$646$408$253$33
37 years$1,450$951$605$376$229$28
38 years$1,397$903$566$346$208$24
39 years$1,346$859$531$319$189$20
40 years$1,297$817$497$295$171$17
41 years$1,252$778$466$272$155$14
42 years$1,208$741$438$251$141$12
43 years$1,167$706$411$232$128$10
44 years$1,128$673$385$214$116$9
45 years$1,090$642$362$197$105$7
46 years$1,054$612$340$182$96$6
47 years$1,020$584$319$169$87$5
48 years$988$558$300$156$79$5
49 years$956$533$282$144$72$4
50 years$927$509$265$133$65$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $949,000, adding $6,997 every year, while hoping to spend $44,834 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: 63/24/13 Blend
60$949,000$949,000$949,000$949,000
61$1,053,015$1,002,718$988,009$1,115,675
62$1,112,720$1,004,149$973,404$1,159,937
63$1,177,012$1,004,146$956,808$1,202,463
64$1,246,311$1,002,594$938,105$1,247,796
65$1,321,081$999,366$917,177$1,296,209
66$1,401,827$994,332$893,899$1,348,006
67$1,489,109$987,349$868,140$1,403,520
68$1,583,538$978,270$839,763$1,463,121
69$1,685,790$966,936$808,626$1,527,219
70$1,796,604$953,179$774,578$1,596,265
71$1,916,796$936,823$737,464$1,670,760
72$2,047,260$917,678$697,121$1,751,255
73$2,188,983$895,547$653,377$1,838,364
74$2,343,048$870,217$606,053$1,932,760
75$2,510,647$841,467$554,965$2,035,190
76$2,693,093$809,058$499,916$2,146,480
77$2,891,829$772,742$440,703$2,267,543
78$3,108,443$732,254$377,114$2,399,384
79$3,344,683$687,314$308,927$2,543,120
80$3,602,474$637,625$235,909$2,699,978
81$3,883,934$582,876$157,819$2,871,320
82$4,191,394$522,736$74,405$3,058,647
83$4,527,420$456,855$0$3,263,617
84$4,894,839$384,863$0$3,490,090
85$5,296,763$306,371$0$3,749,207
86$5,736,615$220,966$0$4,032,912
87$6,218,170$128,213$0$4,343,714
88$6,745,580$27,652$0$4,684,381
89$7,323,421$0$0$5,057,966
90$7,956,730$0$0$5,489,283
91$8,651,055$0$0$5,970,230
92$9,412,508$0$0$6,497,747
93$10,247,819$0$0$7,076,505
94$11,164,402$0$0$7,711,650
95$12,170,422$0$0$8,408,850
96$13,274,874$0$0$9,174,349
97$14,487,668$0$0$10,015,024
98$15,819,717$0$0$10,938,453
99$17,283,046$0$0$11,952,980
100$18,890,901$0$0$13,067,802