Can I retire at age 61 with 963,000?

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 $963,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$79,524$78,815$78,124$77,450$76,791$75,057
2 years$39,368$38,635$37,924$37,235$36,567$34,829
3 years$25,985$25,248$24,540$23,857$23,200$21,512
4 years$19,294$18,560$17,859$17,188$16,546$14,922
5 years$15,281$14,551$13,859$13,202$12,578$11,022
6 years$12,607$11,882$11,200$10,558$9,953$8,467
7 years$10,697$9,979$9,307$8,680$8,094$6,678
8 years$9,265$8,554$7,893$7,281$6,715$5,368
9 years$8,152$7,447$6,799$6,202$5,655$4,377
10 years$7,263$6,565$5,927$5,346$4,818$3,607
11 years$6,535$5,844$5,218$4,653$4,144$2,999
12 years$5,929$5,245$4,631$4,081$3,591$2,509
13 years$5,417$4,740$4,137$3,603$3,131$2,111
14 years$4,978$4,309$3,718$3,198$2,745$1,785
15 years$4,598$3,936$3,356$2,852$2,417$1,514
16 years$4,266$3,611$3,043$2,554$2,136$1,288
17 years$3,974$3,326$2,769$2,295$1,894$1,099
18 years$3,714$3,073$2,528$2,068$1,684$940
19 years$3,482$2,848$2,314$1,869$1,501$805
20 years$3,273$2,647$2,124$1,692$1,341$690
21 years$3,084$2,465$1,953$1,536$1,200$593
22 years$2,913$2,301$1,800$1,397$1,075$510
23 years$2,757$2,152$1,662$1,272$965$439
24 years$2,614$2,017$1,537$1,160$868$378
25 years$2,483$1,893$1,424$1,059$781$326
26 years$2,362$1,779$1,321$969$703$281
27 years$2,250$1,674$1,226$887$634$243
28 years$2,146$1,577$1,140$812$572$209
29 years$2,050$1,488$1,061$745$517$181
30 years$1,960$1,405$988$684$467$156
31 years$1,876$1,328$921$628$422$135
32 years$1,798$1,257$860$577$382$117
33 years$1,725$1,190$803$531$346$101
34 years$1,656$1,128$750$488$313$87
35 years$1,591$1,070$701$449$283$76
36 years$1,529$1,016$656$414$257$65
37 years$1,472$965$614$381$233$57
38 years$1,417$917$575$352$211$49
39 years$1,366$872$539$324$191$42
40 years$1,317$829$505$299$174$37
41 years$1,270$790$473$276$157$32
42 years$1,226$752$444$255$143$27
43 years$1,184$716$417$235$130$24
44 years$1,144$683$391$217$118$21
45 years$1,106$651$367$200$107$18
46 years$1,070$621$345$185$97$15
47 years$1,035$593$324$171$88$13
48 years$1,002$566$305$158$80$12
49 years$971$540$286$146$73$10
50 years$940$516$269$135$66$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $963,000, adding $5,189 every year, while hoping to spend $46,506 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: 66/13/21 Blend
60$963,000$963,000$963,000$963,000
61$1,066,578$1,015,539$1,000,613$1,130,969
62$1,125,887$1,015,819$984,651$1,175,106
63$1,189,687$1,014,553$966,597$1,217,544
64$1,258,387$1,011,618$946,329$1,262,841
65$1,332,435$1,006,880$923,724$1,311,280
66$1,412,326$1,000,200$898,651$1,363,171
67$1,498,601$991,427$870,974$1,418,860
68$1,591,856$980,405$840,549$1,478,727
69$1,692,746$966,965$807,228$1,543,193
70$1,801,990$950,930$770,854$1,612,723
71$1,920,379$932,112$731,263$1,687,832
72$2,048,783$910,311$688,286$1,769,089
73$2,188,159$885,316$641,744$1,857,122
74$2,339,559$856,904$591,450$1,952,625
75$2,504,140$824,839$537,210$2,056,365
76$2,683,175$788,869$478,820$2,169,192
77$2,878,067$748,731$416,067$2,292,042
78$3,090,355$704,144$348,731$2,425,949
79$3,321,736$654,812$276,579$2,572,057
80$3,574,078$600,423$199,369$2,731,629
81$3,849,434$540,644$116,848$2,906,059
82$4,150,067$475,126$28,753$3,096,887
83$4,478,466$403,499$0$3,305,816
84$4,837,372$325,374$0$3,549,344
85$5,229,803$240,336$0$3,822,750
86$5,659,081$147,950$0$4,121,941
87$6,128,864$47,757$0$4,449,513
88$6,643,181$0$0$4,808,330
89$7,206,467$0$0$5,210,235
90$7,823,607$0$0$5,658,112
91$8,499,981$0$0$6,149,039
92$9,241,514$0$0$6,687,326
93$10,054,730$0$0$7,277,717
94$10,946,818$0$0$7,925,439
95$11,925,694$0$0$8,636,248
96$13,000,078$0$0$9,416,486
97$14,179,575$0$0$10,273,138
98$15,474,766$0$0$11,213,897
99$16,897,305$0$0$12,247,241
100$18,460,033$0$0$13,382,505