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%15.1%
1 years$78,450$77,751$77,070$76,404$75,754$74,164
2 years$38,837$38,113$37,412$36,733$36,073$34,479
3 years$25,634$24,908$24,208$23,535$22,887$21,337
4 years$19,034$18,310$17,617$16,956$16,323$14,831
5 years$15,075$14,355$13,672$13,024$12,408$10,978
6 years$12,436$11,722$11,049$10,415$9,818$8,451
7 years$10,552$9,844$9,182$8,563$7,985$6,681
8 years$9,140$8,438$7,787$7,183$6,624$5,383
9 years$8,042$7,347$6,707$6,118$5,579$4,399
10 years$7,165$6,476$5,847$5,274$4,753$3,635
11 years$6,447$5,765$5,148$4,590$4,088$3,029
12 years$5,849$5,175$4,568$4,026$3,543$2,542
13 years$5,344$4,676$4,082$3,554$3,089$2,144
14 years$4,911$4,251$3,667$3,155$2,708$1,817
15 years$4,536$3,883$3,311$2,814$2,384$1,546
16 years$4,209$3,563$3,002$2,520$2,107$1,319
17 years$3,920$3,281$2,732$2,264$1,868$1,129
18 years$3,664$3,032$2,494$2,040$1,661$968
19 years$3,435$2,810$2,283$1,843$1,481$831
20 years$3,229$2,611$2,095$1,670$1,323$715
21 years$3,043$2,432$1,927$1,515$1,184$616
22 years$2,874$2,270$1,776$1,378$1,061$532
23 years$2,720$2,123$1,640$1,255$952$459
24 years$2,579$1,989$1,517$1,144$856$397
25 years$2,449$1,867$1,405$1,045$770$343
26 years$2,330$1,755$1,303$956$694$297
27 years$2,220$1,651$1,210$875$626$257
28 years$2,117$1,556$1,125$801$564$223
29 years$2,022$1,468$1,047$735$510$193
30 years$1,934$1,386$975$674$461$167
31 years$1,851$1,311$909$619$416$145
32 years$1,774$1,240$848$569$377$126
33 years$1,701$1,174$792$523$341$109
34 years$1,633$1,113$740$482$309$95
35 years$1,569$1,056$692$443$280$82
36 years$1,509$1,002$647$408$253$71
37 years$1,452$952$606$376$230$62
38 years$1,398$904$567$347$208$54
39 years$1,347$860$531$320$189$47
40 years$1,299$818$498$295$171$41
41 years$1,253$779$467$272$155$35
42 years$1,209$742$438$251$141$31
43 years$1,168$707$411$232$128$27
44 years$1,129$674$386$214$116$23
45 years$1,091$642$362$198$105$20
46 years$1,055$613$340$183$96$17
47 years$1,021$585$320$169$87$15
48 years$989$558$300$156$79$13
49 years$957$533$282$144$72$11
50 years$928$509$265$133$65$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $950,000, adding $6,895 every year, while hoping to spend $51,954 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: 44/40/16 Blend
60$950,000$950,000$950,000$950,000
61$1,054,012$1,003,662$988,937$1,095,240
62$1,106,243$997,563$966,788$1,118,701
63$1,162,060$989,424$942,155$1,138,399
64$1,221,774$979,089$914,902$1,158,635
65$1,285,726$966,396$884,882$1,179,484
66$1,354,290$951,170$851,946$1,201,027
67$1,427,876$933,226$815,935$1,223,361
68$1,506,935$912,369$776,684$1,246,596
69$1,591,961$888,394$734,021$1,270,854
70$1,683,496$861,080$687,766$1,296,279
71$1,782,135$830,195$637,729$1,323,030
72$1,888,534$795,496$583,714$1,351,290
73$2,003,411$756,722$525,515$1,381,264
74$2,127,557$713,599$462,917$1,413,185
75$2,261,838$665,836$395,696$1,447,315
76$2,407,211$613,127$323,617$1,483,950
77$2,564,724$555,148$246,435$1,523,421
78$2,735,530$491,554$163,895$1,566,103
79$2,920,898$421,985$75,730$1,612,413
80$3,122,224$346,056$0$1,662,823
81$3,341,042$263,364$0$1,720,993
82$3,579,040$173,481$0$1,798,379
83$3,838,076$75,955$0$1,882,750
84$4,120,195$0$0$1,974,896
85$4,427,644$0$0$2,088,765
86$4,762,899$0$0$2,249,493
87$5,128,686$0$0$2,424,967
88$5,528,001$0$0$2,616,640
89$5,964,147$0$0$2,826,109
90$6,440,756$0$0$3,055,135
91$6,961,830$0$0$3,305,656
92$7,531,774$0$0$3,579,805
93$8,155,436$0$0$3,879,933
94$8,838,158$0$0$4,208,625
95$9,585,819$0$0$4,568,731
96$10,404,897$0$0$4,963,389
97$11,302,522$0$0$5,396,055
98$12,286,549$0$0$5,870,534
99$13,365,629$0$0$6,391,019
100$14,549,289$0$0$6,962,126