Can I retire at age 61 with 964,000?

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 $964,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$79,606$78,897$78,205$77,530$76,871$76,515
2 years$39,409$38,675$37,964$37,274$36,605$36,246
3 years$26,012$25,275$24,565$23,882$23,224$22,872
4 years$19,314$18,579$17,877$17,206$16,563$16,222
5 years$15,297$14,567$13,873$13,215$12,591$12,262
6 years$12,620$11,895$11,212$10,569$9,963$9,645
7 years$10,708$9,989$9,317$8,689$8,103$7,797
8 years$9,275$8,563$7,902$7,289$6,722$6,428
9 years$8,161$7,455$6,806$6,209$5,661$5,379
10 years$7,270$6,571$5,933$5,352$4,823$4,554
11 years$6,542$5,850$5,224$4,658$4,148$3,890
12 years$5,935$5,251$4,636$4,085$3,595$3,348
13 years$5,423$4,745$4,142$3,607$3,135$2,900
14 years$4,984$4,313$3,721$3,202$2,748$2,524
15 years$4,603$3,940$3,360$2,855$2,419$2,206
16 years$4,271$3,615$3,046$2,557$2,138$1,936
17 years$3,978$3,329$2,772$2,297$1,896$1,703
18 years$3,718$3,076$2,530$2,070$1,686$1,503
19 years$3,485$2,851$2,317$1,871$1,503$1,329
20 years$3,276$2,650$2,126$1,694$1,342$1,178
21 years$3,088$2,468$1,955$1,538$1,201$1,046
22 years$2,916$2,304$1,802$1,398$1,077$930
23 years$2,760$2,155$1,664$1,273$966$828
24 years$2,617$2,019$1,539$1,161$869$738
25 years$2,485$1,894$1,425$1,061$782$659
26 years$2,364$1,781$1,322$970$704$588
27 years$2,252$1,676$1,228$888$635$526
28 years$2,149$1,579$1,141$813$573$470
29 years$2,052$1,490$1,062$746$517$421
30 years$1,962$1,407$989$684$467$377
31 years$1,878$1,330$922$629$422$338
32 years$1,800$1,258$860$578$382$303
33 years$1,726$1,192$803$531$346$272
34 years$1,657$1,129$751$489$313$244
35 years$1,592$1,071$702$450$284$219
36 years$1,531$1,017$657$414$257$196
37 years$1,473$966$614$382$233$176
38 years$1,419$918$575$352$211$158
39 years$1,367$873$539$324$191$142
40 years$1,318$830$505$299$174$128
41 years$1,271$790$474$276$158$115
42 years$1,227$753$444$255$143$103
43 years$1,185$717$417$235$130$93
44 years$1,145$684$392$217$118$84
45 years$1,107$652$368$201$107$75
46 years$1,071$622$345$185$97$68
47 years$1,036$593$324$171$88$61
48 years$1,003$567$305$158$80$55
49 years$972$541$287$146$73$49
50 years$941$517$269$135$66$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $964,000, adding $4,576 every year, while hoping to spend $58,469 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: 69/16/15 Blend
60$964,000$964,000$964,000$964,000
61$1,067,048$1,015,956$1,001,014$1,136,669
62$1,113,676$1,003,527$972,338$1,171,165
63$1,163,101$988,530$940,741$1,201,494
64$1,215,546$970,776$906,064$1,233,185
65$1,271,255$950,068$868,140$1,266,364
66$1,330,496$926,194$826,796$1,301,172
67$1,393,561$898,932$781,848$1,337,766
68$1,460,770$868,045$733,106$1,376,320
69$1,532,474$833,285$680,370$1,417,030
70$1,609,057$794,387$623,433$1,460,109
71$1,690,940$751,071$562,077$1,505,799
72$1,778,584$703,042$496,076$1,554,364
73$1,872,496$649,987$425,191$1,606,102
74$1,973,231$591,577$349,175$1,661,340
75$2,081,398$527,461$267,769$1,720,443
76$2,197,664$457,271$180,703$1,783,816
77$2,322,765$380,616$87,696$1,851,908
78$2,457,506$297,085$0$1,925,217
79$2,602,771$206,242$0$2,006,145
80$2,759,534$107,628$0$2,108,554
81$2,928,861$756$0$2,219,125
82$3,111,928$0$0$2,338,662
83$3,310,023$0$0$2,488,283
84$3,524,565$0$0$2,650,516
85$3,757,114$0$0$2,826,413
86$4,009,383$0$0$3,017,275
87$4,283,259$0$0$3,224,537
88$4,580,816$0$0$3,449,773
89$4,904,333$0$0$3,694,718
90$5,256,323$0$0$3,961,278
91$5,639,545$0$0$4,251,554
92$6,057,039$0$0$4,567,854
93$6,512,148$0$0$4,912,719
94$7,008,553$0$0$5,288,947
95$7,550,305$0$0$5,699,618
96$8,141,862$0$0$6,148,119
97$8,788,133$0$0$6,638,183
98$9,494,522$0$0$7,173,916
99$10,266,977$0$0$7,759,841
100$11,112,048$0$0$8,400,938