Can I retire at age 61 with 965,000?

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 $965,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$79,689$78,979$78,286$77,610$76,950$76,562
2 years$39,450$38,715$38,003$37,313$36,643$36,251
3 years$26,039$25,301$24,591$23,907$23,248$22,864
4 years$19,334$18,599$17,896$17,223$16,581$16,208
5 years$15,313$14,582$13,888$13,229$12,604$12,245
6 years$12,633$11,907$11,223$10,580$9,973$9,627
7 years$10,719$9,999$9,327$8,698$8,111$7,778
8 years$9,285$8,571$7,910$7,297$6,729$6,409
9 years$8,169$7,463$6,813$6,215$5,667$5,360
10 years$7,278$6,578$5,939$5,357$4,828$4,535
11 years$6,549$5,856$5,229$4,663$4,152$3,872
12 years$5,942$5,256$4,641$4,090$3,598$3,330
13 years$5,428$4,750$4,146$3,611$3,138$2,882
14 years$4,989$4,318$3,725$3,205$2,751$2,507
15 years$4,608$3,944$3,363$2,858$2,422$2,190
16 years$4,275$3,619$3,049$2,559$2,141$1,920
17 years$3,982$3,333$2,775$2,300$1,898$1,689
18 years$3,722$3,080$2,533$2,072$1,688$1,489
19 years$3,489$2,854$2,319$1,873$1,504$1,316
20 years$3,280$2,652$2,128$1,696$1,344$1,165
21 years$3,091$2,470$1,958$1,539$1,202$1,034
22 years$2,919$2,306$1,804$1,399$1,078$919
23 years$2,763$2,157$1,666$1,275$967$817
24 years$2,619$2,021$1,541$1,162$870$728
25 years$2,488$1,896$1,427$1,062$782$649
26 years$2,367$1,782$1,323$971$705$579
27 years$2,255$1,677$1,229$888$635$517
28 years$2,151$1,581$1,142$814$573$462
29 years$2,054$1,491$1,063$746$518$414
30 years$1,964$1,408$990$685$468$370
31 years$1,880$1,331$923$629$423$331
32 years$1,802$1,260$861$578$383$297
33 years$1,728$1,193$804$532$346$266
34 years$1,659$1,131$751$489$313$239
35 years$1,594$1,072$703$450$284$214
36 years$1,533$1,018$657$415$257$192
37 years$1,475$967$615$382$233$172
38 years$1,420$919$576$352$211$155
39 years$1,368$874$540$325$192$139
40 years$1,319$831$506$300$174$125
41 years$1,273$791$474$276$158$112
42 years$1,229$753$445$255$143$100
43 years$1,187$718$418$235$130$90
44 years$1,147$684$392$217$118$81
45 years$1,108$653$368$201$107$73
46 years$1,072$623$346$185$97$65
47 years$1,037$594$325$171$88$59
48 years$1,004$567$305$158$80$53
49 years$973$542$287$146$73$47
50 years$942$517$270$135$66$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $965,000, adding $3,538 every year, while hoping to spend $55,962 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: 38/48/14 Blend
60$965,000$965,000$965,000$965,000
61$1,067,079$1,015,934$1,000,977$1,102,980
62$1,116,378$1,006,172$974,967$1,119,178
63$1,168,830$994,056$946,209$1,131,007
64$1,224,698$979,411$914,554$1,142,577
65$1,284,268$962,053$879,842$1,153,894
66$1,347,855$941,786$841,909$1,164,966
67$1,415,806$918,403$800,582$1,175,810
68$1,488,497$891,683$755,681$1,186,446
69$1,566,343$861,396$707,016$1,196,904
70$1,649,799$827,293$654,390$1,207,223
71$1,739,364$789,116$597,598$1,217,450
72$1,835,586$746,589$536,423$1,227,645
73$1,939,064$699,420$470,642$1,237,880
74$2,050,458$647,302$400,018$1,248,244
75$2,170,494$589,909$324,308$1,258,839
76$2,299,966$526,896$243,254$1,269,789
77$2,439,749$457,900$156,590$1,281,238
78$2,590,804$382,537$64,035$1,293,355
79$2,754,185$300,401$0$1,306,335
80$2,931,053$211,062$0$1,325,594
81$3,122,684$114,068$0$1,356,748
82$3,330,480$8,939$0$1,390,568
83$3,555,984$0$0$1,427,445
84$3,800,892$0$0$1,523,190
85$4,067,070$0$0$1,632,498
86$4,356,570$0$0$1,751,504
87$4,671,651$0$0$1,881,152
88$5,014,797$0$0$2,022,481
89$5,388,743$0$0$2,176,633
90$5,796,499$0$0$2,344,866
91$6,241,376$0$0$2,528,565
92$6,727,021$0$0$2,729,254
93$7,257,445$0$0$2,948,610
94$7,837,067$0$0$3,188,481
95$8,470,750$0$0$3,450,901
96$9,163,849$0$0$3,738,110
97$9,922,261$0$0$4,052,573
98$10,752,477$0$0$4,397,006
99$11,661,646$0$0$4,774,400
100$12,657,642$0$0$5,188,049