Can I retire at age 61 with 954,000?

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 $954,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$78,780$78,079$77,394$76,726$76,073$74,568
2 years$39,000$38,274$37,570$36,887$36,225$34,715
3 years$25,742$25,012$24,310$23,634$22,983$21,515
4 years$19,114$18,387$17,692$17,027$16,392$14,977
5 years$15,138$14,415$13,729$13,078$12,461$11,103
6 years$12,489$11,771$11,095$10,459$9,860$8,562
7 years$10,597$9,886$9,220$8,599$8,019$6,780
8 years$9,179$8,474$7,820$7,213$6,652$5,472
9 years$8,076$7,378$6,735$6,144$5,602$4,480
10 years$7,195$6,503$5,872$5,296$4,773$3,709
11 years$6,474$5,789$5,169$4,609$4,105$3,096
12 years$5,874$5,196$4,588$4,043$3,557$2,603
13 years$5,366$4,696$4,099$3,569$3,102$2,201
14 years$4,932$4,268$3,683$3,169$2,719$1,869
15 years$4,556$3,899$3,325$2,826$2,394$1,593
16 years$4,227$3,578$3,015$2,530$2,116$1,362
17 years$3,937$3,295$2,743$2,273$1,876$1,168
18 years$3,679$3,045$2,504$2,049$1,668$1,004
19 years$3,449$2,822$2,292$1,851$1,487$864
20 years$3,242$2,622$2,104$1,677$1,328$745
21 years$3,055$2,442$1,935$1,522$1,189$644
22 years$2,886$2,280$1,784$1,384$1,065$556
23 years$2,731$2,132$1,647$1,260$956$482
24 years$2,590$1,998$1,523$1,149$860$417
25 years$2,460$1,875$1,411$1,050$774$362
26 years$2,340$1,762$1,308$960$697$314
27 years$2,229$1,658$1,215$878$628$272
28 years$2,126$1,563$1,129$805$567$236
29 years$2,031$1,474$1,051$738$512$205
30 years$1,942$1,392$979$677$462$178
31 years$1,859$1,316$913$622$418$155
32 years$1,781$1,245$852$572$378$135
33 years$1,708$1,179$795$526$342$117
34 years$1,640$1,118$743$484$310$102
35 years$1,576$1,060$695$445$281$89
36 years$1,515$1,006$650$410$254$77
37 years$1,458$956$608$378$230$67
38 years$1,404$908$569$348$209$59
39 years$1,353$864$534$321$189$51
40 years$1,304$822$500$296$172$44
41 years$1,258$782$469$273$156$39
42 years$1,215$745$440$252$141$34
43 years$1,173$710$413$233$128$29
44 years$1,133$677$387$215$117$25
45 years$1,096$645$364$199$106$22
46 years$1,060$615$342$183$96$19
47 years$1,026$587$321$169$87$17
48 years$993$561$302$157$79$15
49 years$961$535$284$145$72$13
50 years$931$511$267$134$65$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $954,000, adding $5,782 every year, while hoping to spend $35,320 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: 49/24/27 Blend
60$954,000$954,000$954,000$954,000
61$1,057,272$1,006,710$991,923$1,100,724
62$1,127,534$1,018,459$987,572$1,143,490
63$1,203,778$1,029,599$981,892$1,185,964
64$1,286,578$1,040,065$974,800$1,231,417
65$1,376,565$1,049,783$966,212$1,280,147
66$1,474,431$1,058,679$956,036$1,332,485
67$1,580,939$1,066,670$944,179$1,388,795
68$1,696,928$1,073,671$930,543$1,449,482
69$1,823,323$1,079,588$915,024$1,514,993
70$1,961,139$1,084,325$897,514$1,585,822
71$2,111,495$1,087,777$877,901$1,662,514
72$2,275,622$1,089,833$856,066$1,745,675
73$2,454,877$1,090,376$831,885$1,835,972
74$2,650,750$1,089,280$805,229$1,934,143
75$2,864,884$1,086,413$775,962$2,041,005
76$3,099,089$1,081,634$743,943$2,157,458
77$3,355,355$1,074,793$709,024$2,284,500
78$3,635,876$1,065,732$671,051$2,423,232
79$3,943,065$1,054,283$629,861$2,574,869
80$4,279,582$1,040,267$585,286$2,740,756
81$4,648,355$1,023,495$537,148$2,922,377
82$5,052,608$1,003,768$485,264$3,121,373
83$5,495,895$980,873$429,441$3,339,553
84$5,982,126$954,585$369,477$3,578,918
85$6,515,610$924,668$305,162$3,841,676
86$7,101,094$890,868$236,277$4,130,265
87$7,743,806$852,921$162,592$4,447,378
88$8,449,504$810,544$83,868$4,795,987
89$9,224,532$763,439$0$5,179,371
90$10,075,877$711,291$0$5,601,196
91$11,011,239$653,766$0$6,091,202
92$12,039,098$590,513$0$6,629,695
93$13,168,797$521,159$0$7,221,624
94$14,410,629$445,311$0$7,872,448
95$15,775,934$362,552$0$8,588,185
96$17,277,206$272,444$0$9,375,471
97$18,928,210$174,523$0$10,241,619
98$20,744,111$68,298$0$11,194,697
99$22,741,619$0$0$12,243,594
100$24,939,144$0$0$13,410,461