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%12.1%
1 years$78,450$77,751$77,070$76,404$75,754$75,088
2 years$38,837$38,113$37,412$36,733$36,073$35,402
3 years$25,634$24,908$24,208$23,535$22,887$22,231
4 years$19,034$18,310$17,617$16,956$16,323$15,688
5 years$15,075$14,355$13,672$13,024$12,408$11,796
6 years$12,436$11,722$11,049$10,415$9,818$9,229
7 years$10,552$9,844$9,182$8,563$7,985$7,420
8 years$9,140$8,438$7,787$7,183$6,624$6,083
9 years$8,042$7,347$6,707$6,118$5,579$5,060
10 years$7,165$6,476$5,847$5,274$4,753$4,258
11 years$6,447$5,765$5,148$4,590$4,088$3,616
12 years$5,849$5,175$4,568$4,026$3,543$3,093
13 years$5,344$4,676$4,082$3,554$3,089$2,661
14 years$4,911$4,251$3,667$3,155$2,708$2,301
15 years$4,536$3,883$3,311$2,814$2,384$1,998
16 years$4,209$3,563$3,002$2,520$2,107$1,741
17 years$3,920$3,281$2,732$2,264$1,868$1,522
18 years$3,664$3,032$2,494$2,040$1,661$1,333
19 years$3,435$2,810$2,283$1,843$1,481$1,171
20 years$3,229$2,611$2,095$1,670$1,323$1,030
21 years$3,043$2,432$1,927$1,515$1,184$908
22 years$2,874$2,270$1,776$1,378$1,061$801
23 years$2,720$2,123$1,640$1,255$952$708
24 years$2,579$1,989$1,517$1,144$856$626
25 years$2,449$1,867$1,405$1,045$770$555
26 years$2,330$1,755$1,303$956$694$491
27 years$2,220$1,651$1,210$875$626$436
28 years$2,117$1,556$1,125$801$564$387
29 years$2,022$1,468$1,047$735$510$343
30 years$1,934$1,386$975$674$461$305
31 years$1,851$1,311$909$619$416$271
32 years$1,774$1,240$848$569$377$241
33 years$1,701$1,174$792$523$341$215
34 years$1,633$1,113$740$482$309$191
35 years$1,569$1,056$692$443$280$170
36 years$1,509$1,002$647$408$253$151
37 years$1,452$952$606$376$230$135
38 years$1,398$904$567$347$208$120
39 years$1,347$860$531$320$189$107
40 years$1,299$818$498$295$171$95
41 years$1,253$779$467$272$155$85
42 years$1,209$742$438$251$141$76
43 years$1,168$707$411$232$128$67
44 years$1,129$674$386$214$116$60
45 years$1,091$642$362$198$105$54
46 years$1,055$613$340$183$96$48
47 years$1,021$585$320$169$87$43
48 years$989$558$300$156$79$38
49 years$957$533$282$144$72$34
50 years$928$509$265$133$65$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $950,000, adding $5,964 every year, while hoping to spend $38,130 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: 61/18/21 Blend
60$950,000$950,000$950,000$950,000
61$1,053,052$1,002,702$987,977$1,111,158
62$1,119,893$1,011,264$980,504$1,159,733
63$1,192,274$1,018,968$971,503$1,207,990
64$1,270,720$1,025,731$960,882$1,259,797
65$1,355,808$1,031,466$948,546$1,315,506
66$1,448,171$1,036,080$934,394$1,375,504
67$1,548,510$1,039,472$918,320$1,440,219
68$1,657,590$1,041,539$900,217$1,510,122
69$1,776,257$1,042,167$879,967$1,585,737
70$1,905,441$1,041,239$857,451$1,667,639
71$2,046,163$1,038,627$832,543$1,756,464
72$2,199,550$1,034,198$805,112$1,852,915
73$2,366,840$1,027,809$775,018$1,957,769
74$2,549,395$1,019,310$742,119$2,071,882
75$2,748,717$1,008,539$706,264$2,196,199
76$2,966,457$995,329$667,295$2,331,766
77$3,204,434$979,498$625,048$2,479,735
78$3,464,650$960,857$579,350$2,641,378
79$3,749,309$939,204$530,023$2,818,101
80$4,060,837$914,324$476,877$3,011,453
81$4,401,908$885,991$419,719$3,223,147
82$4,775,465$853,967$358,341$3,455,072
83$5,184,748$817,997$292,531$3,709,311
84$5,633,327$777,813$222,066$3,988,165
85$6,125,133$733,133$146,711$4,294,173
86$6,664,495$683,654$66,224$4,630,135
87$7,256,181$629,061$0$4,999,143
88$7,905,445$569,019$0$5,409,013
89$8,618,071$503,171$0$5,875,224
90$9,400,433$431,145$0$6,387,133
91$10,259,550$352,544$0$6,949,384
92$11,203,156$266,951$0$7,567,096
93$12,239,769$173,922$0$8,245,912
94$13,378,774$72,993$0$8,992,053
95$14,630,510$0$0$9,812,373
96$16,006,366$0$0$10,721,628
97$17,518,892$0$0$11,737,176
98$19,181,912$0$0$12,853,850
99$21,010,656$0$0$14,081,889
100$23,021,906$0$0$15,432,572