Can I retire at age 61 with 974,000?

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 $974,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$80,432$79,716$79,017$78,334$77,668$75,760
2 years$39,818$39,076$38,358$37,661$36,985$35,074
3 years$26,282$25,537$24,820$24,130$23,465$21,611
4 years$19,515$18,772$18,063$17,384$16,735$14,953
5 years$15,456$14,718$14,017$13,353$12,722$11,016
6 years$12,751$12,018$11,328$10,678$10,066$8,439
7 years$10,819$10,093$9,414$8,779$8,187$6,638
8 years$9,371$8,651$7,984$7,365$6,792$5,320
9 years$8,246$7,533$6,876$6,273$5,720$4,325
10 years$7,346$6,640$5,995$5,407$4,873$3,553
11 years$6,610$5,911$5,278$4,706$4,191$2,944
12 years$5,997$5,305$4,684$4,128$3,632$2,456
13 years$5,479$4,794$4,185$3,644$3,167$2,059
14 years$5,035$4,358$3,760$3,235$2,776$1,735
15 years$4,651$3,981$3,395$2,885$2,445$1,467
16 years$4,315$3,653$3,078$2,583$2,160$1,243
17 years$4,019$3,364$2,801$2,321$1,916$1,057
18 years$3,756$3,108$2,557$2,092$1,703$900
19 years$3,521$2,881$2,341$1,890$1,518$768
20 years$3,310$2,677$2,148$1,712$1,356$657
21 years$3,120$2,494$1,976$1,554$1,214$562
22 years$2,946$2,328$1,821$1,413$1,088$481
23 years$2,788$2,177$1,681$1,286$976$413
24 years$2,644$2,040$1,555$1,173$878$354
25 years$2,511$1,914$1,440$1,072$790$304
26 years$2,389$1,799$1,336$980$711$261
27 years$2,276$1,693$1,240$897$641$224
28 years$2,171$1,595$1,153$822$579$193
29 years$2,073$1,505$1,073$753$523$166
30 years$1,983$1,421$999$691$472$143
31 years$1,898$1,344$932$635$427$123
32 years$1,819$1,271$869$584$386$106
33 years$1,744$1,204$812$537$349$91
34 years$1,674$1,141$758$494$316$78
35 years$1,609$1,082$709$455$287$68
36 years$1,547$1,027$663$419$260$58
37 years$1,489$976$621$386$235$50
38 years$1,433$927$581$356$213$43
39 years$1,381$882$545$328$193$37
40 years$1,332$839$511$302$175$32
41 years$1,285$799$479$279$159$28
42 years$1,240$761$449$257$144$24
43 years$1,198$725$421$238$131$21
44 years$1,157$691$396$219$119$18
45 years$1,119$659$371$203$108$15
46 years$1,082$628$349$187$98$13
47 years$1,047$600$328$173$89$11
48 years$1,014$572$308$160$81$10
49 years$982$547$289$148$73$8
50 years$951$522$272$137$67$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $974,000, adding $3,408 every year, while hoping to spend $51,554 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: 35/39/26 Blend
60$974,000$974,000$974,000$974,000
61$1,076,863$1,025,241$1,010,144$1,105,995
62$1,131,850$1,020,625$989,131$1,123,376
63$1,190,718$1,014,055$965,686$1,137,203
64$1,253,808$1,005,380$939,673$1,151,112
65$1,321,495$994,442$910,951$1,165,142
66$1,394,189$981,072$879,370$1,179,345
67$1,472,343$965,090$844,774$1,193,779
68$1,556,450$946,308$807,002$1,208,513
69$1,647,055$924,524$765,884$1,223,631
70$1,744,754$899,526$721,241$1,239,227
71$1,850,205$871,088$672,888$1,255,413
72$1,964,127$838,973$620,632$1,272,317
73$2,087,313$802,928$564,268$1,290,088
74$2,220,634$762,686$503,586$1,308,895
75$2,365,047$717,966$438,364$1,328,933
76$2,521,604$668,468$368,371$1,350,424
77$2,691,462$613,878$293,367$1,373,619
78$2,875,895$553,861$213,098$1,398,807
79$3,076,301$488,066$127,302$1,426,313
80$3,294,222$416,119$35,704$1,456,503
81$3,531,351$337,627$0$1,489,795
82$3,789,552$252,174$0$1,543,869
83$4,070,877$159,321$0$1,613,729
84$4,377,583$58,605$0$1,690,142
85$4,712,154$0$0$1,773,863
86$5,077,326$0$0$1,887,392
87$5,476,108$0$0$2,038,968
88$5,911,813$0$0$2,204,715
89$6,388,091$0$0$2,386,038
90$6,908,957$0$0$2,584,484
91$7,478,834$0$0$2,801,756
92$8,102,591$0$0$3,039,730
93$8,785,590$0$0$3,300,471
94$9,533,736$0$0$3,586,255
95$10,353,531$0$0$3,899,586
96$11,252,136$0$0$4,243,225
97$12,237,440$0$0$4,620,210
98$13,318,129$0$0$5,033,888
99$14,503,770$0$0$5,487,949
100$15,804,904$0$0$5,986,452