Can I retire at age 61 with 969,000?

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 $969,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$80,019$79,306$78,611$77,932$77,269$75,958
2 years$39,613$38,876$38,161$37,467$36,795$35,478
3 years$26,147$25,406$24,692$24,006$23,344$22,062
4 years$19,415$18,676$17,970$17,295$16,649$15,413
5 years$15,376$14,642$13,945$13,284$12,657$11,468
6 years$12,685$11,956$11,270$10,623$10,015$8,877
7 years$10,764$10,041$9,365$8,734$8,145$7,057
8 years$9,323$8,607$7,943$7,327$6,757$5,719
9 years$8,203$7,494$6,841$6,241$5,690$4,702
10 years$7,308$6,606$5,964$5,380$4,848$3,909
11 years$6,576$5,880$5,251$4,682$4,170$3,278
12 years$5,966$5,278$4,660$4,107$3,613$2,768
13 years$5,451$4,770$4,163$3,626$3,151$2,351
14 years$5,009$4,336$3,741$3,218$2,762$2,006
15 years$4,627$3,961$3,377$2,870$2,432$1,718
16 years$4,293$3,634$3,062$2,570$2,149$1,477
17 years$3,999$3,347$2,786$2,309$1,906$1,273
18 years$3,737$3,092$2,544$2,081$1,695$1,099
19 years$3,503$2,866$2,329$1,880$1,510$951
20 years$3,293$2,663$2,137$1,703$1,349$825
21 years$3,104$2,481$1,966$1,546$1,207$716
22 years$2,931$2,316$1,812$1,405$1,082$622
23 years$2,774$2,166$1,673$1,280$971$542
24 years$2,630$2,029$1,547$1,167$873$472
25 years$2,498$1,904$1,433$1,066$786$411
26 years$2,377$1,790$1,329$975$708$359
27 years$2,264$1,684$1,234$892$638$313
28 years$2,160$1,587$1,147$817$576$273
29 years$2,063$1,497$1,068$750$520$239
30 years$1,972$1,414$994$688$470$209
31 years$1,888$1,337$927$632$425$183
32 years$1,809$1,265$865$581$384$160
33 years$1,735$1,198$808$534$348$140
34 years$1,666$1,135$755$491$315$122
35 years$1,601$1,077$705$452$285$107
36 years$1,539$1,022$660$417$258$94
37 years$1,481$971$618$384$234$82
38 years$1,426$922$578$354$212$72
39 years$1,374$877$542$326$192$63
40 years$1,325$835$508$301$175$55
41 years$1,278$794$476$278$158$48
42 years$1,234$757$447$256$144$42
43 years$1,191$721$419$236$130$37
44 years$1,151$687$394$218$118$32
45 years$1,113$655$370$202$107$28
46 years$1,077$625$347$186$98$25
47 years$1,042$597$326$172$89$22
48 years$1,008$569$306$159$80$19
49 years$977$544$288$147$73$17
50 years$946$519$271$136$66$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $969,000, adding $6,234 every year, while hoping to spend $37,024 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: 39/35/26 Blend
60$969,000$969,000$969,000$969,000
61$1,074,268$1,022,911$1,007,892$1,107,670
62$1,144,450$1,033,641$1,002,263$1,143,267
63$1,220,550$1,043,655$995,205$1,177,835
64$1,303,132$1,052,880$986,630$1,214,494
65$1,392,817$1,061,237$976,448$1,253,457
66$1,490,289$1,068,641$964,562$1,294,963
67$1,596,297$1,075,003$950,874$1,339,273
68$1,711,669$1,080,228$935,278$1,386,680
69$1,837,314$1,084,215$917,665$1,437,509
70$1,974,234$1,086,855$897,921$1,492,119
71$2,123,529$1,088,034$875,924$1,550,910
72$2,286,412$1,087,630$851,550$1,614,323
73$2,464,216$1,085,515$824,668$1,682,851
74$2,658,412$1,081,550$795,139$1,757,037
75$2,870,614$1,075,591$762,821$1,837,483
76$3,102,605$1,067,483$727,564$1,924,859
77$3,356,343$1,057,061$689,209$2,019,904
78$3,633,986$1,044,154$647,594$2,123,438
79$3,937,910$1,028,575$602,546$2,236,368
80$4,270,733$1,010,131$553,887$2,359,699
81$4,635,335$988,615$501,430$2,494,545
82$5,034,889$963,807$444,978$2,642,135
83$5,472,891$935,476$384,327$2,803,831
84$5,953,188$903,378$319,265$2,981,142
85$6,480,021$867,251$249,568$3,175,733
86$7,058,059$826,822$175,004$3,389,449
87$7,692,444$781,799$95,330$3,624,327
88$8,388,843$731,876$10,292$3,882,622
89$9,153,494$676,728$0$4,166,826
90$9,993,273$616,010$0$4,502,013
91$10,915,753$549,360$0$4,873,406
92$11,929,275$476,394$0$5,281,588
93$13,043,030$396,706$0$5,730,362
94$14,267,142$309,869$0$6,223,919
95$15,612,767$215,428$0$6,766,888
96$17,092,192$112,906$0$7,364,373
97$18,718,956$1,800$0$8,022,008
98$20,507,976$0$0$8,746,006
99$22,475,686$0$0$9,588,834
100$24,640,194$0$0$10,516,867