Can I retire at age 61 with 950,000?

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 $950,000?

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 years$78,450$77,751$77,070$76,404$75,754$73,300
2 years$38,837$38,113$37,412$36,733$36,073$33,624
3 years$25,634$24,908$24,208$23,535$22,887$20,518
4 years$19,034$18,310$17,617$16,956$16,323$14,054
5 years$15,075$14,355$13,672$13,024$12,408$10,246
6 years$12,436$11,722$11,049$10,415$9,818$7,763
7 years$10,552$9,844$9,182$8,563$7,985$6,037
8 years$9,140$8,438$7,787$7,183$6,624$4,782
9 years$8,042$7,347$6,707$6,118$5,579$3,841
10 years$7,165$6,476$5,847$5,274$4,753$3,116
11 years$6,447$5,765$5,148$4,590$4,088$2,549
12 years$5,849$5,175$4,568$4,026$3,543$2,098
13 years$5,344$4,676$4,082$3,554$3,089$1,736
14 years$4,911$4,251$3,667$3,155$2,708$1,442
15 years$4,536$3,883$3,311$2,814$2,384$1,202
16 years$4,209$3,563$3,002$2,520$2,107$1,005
17 years$3,920$3,281$2,732$2,264$1,868$842
18 years$3,664$3,032$2,494$2,040$1,661$707
19 years$3,435$2,810$2,283$1,843$1,481$594
20 years$3,229$2,611$2,095$1,670$1,323$500
21 years$3,043$2,432$1,927$1,515$1,184$421
22 years$2,874$2,270$1,776$1,378$1,061$355
23 years$2,720$2,123$1,640$1,255$952$300
24 years$2,579$1,989$1,517$1,144$856$253
25 years$2,449$1,867$1,405$1,045$770$214
26 years$2,330$1,755$1,303$956$694$181
27 years$2,220$1,651$1,210$875$626$153
28 years$2,117$1,556$1,125$801$564$129
29 years$2,022$1,468$1,047$735$510$109
30 years$1,934$1,386$975$674$461$93
31 years$1,851$1,311$909$619$416$78
32 years$1,774$1,240$848$569$377$66
33 years$1,701$1,174$792$523$341$56
34 years$1,633$1,113$740$482$309$48
35 years$1,569$1,056$692$443$280$40
36 years$1,509$1,002$647$408$253$34
37 years$1,452$952$606$376$230$29
38 years$1,398$904$567$347$208$25
39 years$1,347$860$531$320$189$21
40 years$1,299$818$498$295$171$18
41 years$1,253$779$467$272$155$15
42 years$1,209$742$438$251$141$13
43 years$1,168$707$411$232$128$11
44 years$1,129$674$386$214$116$9
45 years$1,091$642$362$198$105$8
46 years$1,055$613$340$183$96$7
47 years$1,021$585$320$169$87$6
48 years$989$558$300$156$79$5
49 years$957$533$282$144$72$4
50 years$928$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 $950,000, adding $5,923 every year, while hoping to spend $49,332 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: 52/19/29 Blend
60$950,000$950,000$950,000$950,000
61$1,053,010$1,002,660$987,935$1,098,915
62$1,107,928$999,301$968,542$1,128,127
63$1,166,794$994,125$946,845$1,154,444
64$1,229,959$986,989$922,717$1,182,109
65$1,297,808$977,744$896,021$1,211,273
66$1,370,763$966,232$866,616$1,242,102
67$1,449,288$952,284$834,354$1,274,785
68$1,533,891$935,722$799,081$1,309,532
69$1,625,132$916,357$760,635$1,346,578
70$1,723,626$893,988$718,846$1,386,184
71$1,830,046$868,405$673,539$1,428,642
72$1,945,136$839,382$624,527$1,474,276
73$2,069,711$806,682$571,620$1,523,451
74$2,204,667$770,055$514,614$1,576,567
75$2,350,989$729,234$453,300$1,634,076
76$2,509,761$683,938$387,457$1,696,475
77$2,682,176$633,870$316,856$1,764,321
78$2,869,545$578,717$241,258$1,838,230
79$3,073,309$518,145$160,411$1,918,887
80$3,295,057$451,803$74,054$2,007,054
81$3,536,532$379,322$0$2,103,576
82$3,799,658$300,308$0$2,214,992
83$4,086,549$214,348$0$2,361,559
84$4,399,530$121,005$0$2,521,584
85$4,741,165$19,817$0$2,696,442
86$5,114,273$0$0$2,887,651
87$5,521,957$0$0$3,115,640
88$5,967,634$0$0$3,369,499
89$6,455,067$0$0$3,647,236
90$6,988,399$0$0$3,951,226
91$7,572,191$0$0$4,284,079
92$8,211,464$0$0$4,648,674
93$8,911,752$0$0$5,048,176
94$9,679,144$0$0$5,486,077
95$10,520,350$0$0$5,966,217
96$11,442,758$0$0$6,492,829
97$12,454,505$0$0$7,070,574
98$13,564,555$0$0$7,704,587
99$14,782,780$0$0$8,400,522
100$16,120,055$0$0$9,164,611