Can I retire at age 61 with 956,000?

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 $956,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$78,946$78,242$77,556$76,887$76,233$74,390
2 years$39,082$38,354$37,649$36,965$36,301$34,456
3 years$25,796$25,065$24,361$23,684$23,031$21,240
4 years$19,154$18,425$17,729$17,063$16,426$14,704
5 years$15,170$14,446$13,758$13,106$12,487$10,838
6 years$12,515$11,796$11,119$10,481$9,880$8,307
7 years$10,619$9,906$9,240$8,617$8,035$6,538
8 years$9,198$8,491$7,836$7,228$6,666$5,243
9 years$8,093$7,393$6,749$6,157$5,614$4,265
10 years$7,210$6,517$5,884$5,307$4,783$3,506
11 years$6,488$5,802$5,180$4,619$4,114$2,907
12 years$5,886$5,207$4,597$4,052$3,565$2,426
13 years$5,378$4,706$4,107$3,577$3,109$2,036
14 years$4,942$4,277$3,691$3,175$2,725$1,716
15 years$4,565$3,908$3,332$2,832$2,399$1,452
16 years$4,235$3,585$3,021$2,535$2,121$1,232
17 years$3,945$3,302$2,749$2,278$1,880$1,048
18 years$3,687$3,051$2,509$2,053$1,672$893
19 years$3,456$2,828$2,297$1,855$1,490$763
20 years$3,249$2,628$2,108$1,680$1,331$652
21 years$3,062$2,447$1,939$1,525$1,191$559
22 years$2,892$2,285$1,787$1,386$1,068$479
23 years$2,737$2,137$1,650$1,263$958$411
24 years$2,595$2,002$1,526$1,152$861$353
25 years$2,465$1,879$1,414$1,052$775$303
26 years$2,345$1,766$1,311$962$698$261
27 years$2,234$1,662$1,217$880$630$224
28 years$2,131$1,566$1,132$806$568$193
29 years$2,035$1,477$1,053$740$513$166
30 years$1,946$1,395$981$679$463$143
31 years$1,863$1,319$915$623$419$123
32 years$1,785$1,248$853$573$379$106
33 years$1,712$1,182$797$527$343$92
34 years$1,644$1,120$744$485$311$79
35 years$1,579$1,062$696$446$281$68
36 years$1,518$1,008$651$411$255$59
37 years$1,461$958$609$379$231$51
38 years$1,407$910$571$349$209$44
39 years$1,356$865$535$322$190$38
40 years$1,307$823$501$297$172$32
41 years$1,261$784$470$274$156$28
42 years$1,217$746$441$253$142$24
43 years$1,175$711$414$233$129$21
44 years$1,136$678$388$215$117$18
45 years$1,098$646$365$199$106$15
46 years$1,062$617$342$184$96$13
47 years$1,028$589$322$170$87$12
48 years$995$562$302$157$79$10
49 years$963$537$284$145$72$9
50 years$933$513$267$134$65$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $956,000, adding $5,685 every year, while hoping to spend $32,053 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: 64/17/19 Blend
60$956,000$956,000$956,000$956,000
61$1,059,376$1,008,708$993,890$1,121,736
62$1,133,328$1,024,031$993,081$1,179,663
63$1,213,749$1,039,030$991,171$1,238,768
64$1,301,265$1,053,656$988,089$1,302,583
65$1,396,565$1,067,855$983,760$1,371,569
66$1,500,406$1,081,571$978,107$1,446,237
67$1,613,622$1,094,744$971,049$1,527,146
68$1,737,133$1,107,307$962,500$1,614,918
69$1,871,947$1,119,192$952,371$1,710,233
70$2,019,177$1,130,324$940,567$1,813,846
71$2,180,049$1,140,625$926,991$1,926,587
72$2,355,909$1,150,011$911,541$2,049,371
73$2,548,241$1,158,391$894,107$2,183,207
74$2,758,681$1,165,672$874,579$2,329,211
75$2,989,027$1,171,750$852,838$2,488,609
76$3,241,260$1,176,518$828,760$2,662,755
77$3,517,563$1,179,862$802,218$2,853,143
78$3,820,338$1,181,659$773,076$3,061,419
79$4,152,232$1,181,779$741,193$3,289,398
80$4,516,159$1,180,086$706,422$3,539,084
81$4,915,329$1,176,431$668,609$3,812,684
82$5,353,277$1,170,662$627,593$4,112,632
83$5,833,899$1,162,611$583,204$4,441,613
84$6,361,483$1,152,106$535,269$4,802,586
85$6,940,756$1,138,961$483,602$5,198,816
86$7,576,923$1,122,979$428,012$5,633,901
87$8,275,717$1,103,953$368,298$6,111,809
88$9,043,455$1,081,662$304,251$6,636,914
89$9,887,096$1,055,873$235,652$7,214,040
90$10,814,307$1,026,337$162,274$7,848,506
91$11,833,534$992,795$83,877$8,546,175
92$12,954,080$954,968$213$9,313,511
93$14,186,199$912,564$0$10,157,641
94$15,541,184$865,272$0$11,104,481
95$17,031,479$812,765$0$12,145,856
96$18,670,795$754,695$0$13,291,329
97$20,474,237$690,697$0$14,551,489
98$22,458,450$620,381$0$15,938,005
99$24,641,771$543,339$0$17,463,737
100$27,044,406$459,138$0$19,142,858