Can I retire at age 61 with 975,000?

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 $975,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$80,515$79,797$79,098$78,415$77,748$77,064
2 years$39,859$39,116$38,397$37,699$37,023$36,334
3 years$26,309$25,563$24,845$24,154$23,489$22,816
4 years$19,535$18,791$18,081$17,402$16,752$16,101
5 years$15,472$14,733$14,032$13,366$12,735$12,107
6 years$12,764$12,030$11,340$10,689$10,077$9,472
7 years$10,830$10,103$9,423$8,788$8,195$7,615
8 years$9,381$8,660$7,992$7,372$6,799$6,243
9 years$8,254$7,540$6,883$6,279$5,725$5,194
10 years$7,353$6,646$6,001$5,413$4,878$4,370
11 years$6,617$5,917$5,283$4,711$4,196$3,711
12 years$6,003$5,311$4,689$4,132$3,636$3,174
13 years$5,485$4,799$4,189$3,648$3,170$2,731
14 years$5,040$4,362$3,764$3,238$2,779$2,362
15 years$4,656$3,985$3,398$2,888$2,447$2,051
16 years$4,320$3,656$3,081$2,586$2,163$1,787
17 years$4,023$3,367$2,804$2,323$1,918$1,562
18 years$3,760$3,112$2,559$2,094$1,705$1,368
19 years$3,525$2,884$2,343$1,892$1,520$1,202
20 years$3,314$2,680$2,150$1,714$1,357$1,057
21 years$3,123$2,496$1,978$1,555$1,215$932
22 years$2,949$2,330$1,823$1,414$1,089$822
23 years$2,791$2,179$1,683$1,288$977$727
24 years$2,647$2,042$1,557$1,174$879$643
25 years$2,514$1,916$1,442$1,073$791$569
26 years$2,391$1,801$1,337$981$712$504
27 years$2,278$1,695$1,242$898$642$447
28 years$2,173$1,597$1,154$822$579$397
29 years$2,076$1,507$1,074$754$523$353
30 years$1,985$1,423$1,000$692$473$313
31 years$1,900$1,345$933$636$427$278
32 years$1,820$1,273$870$584$387$248
33 years$1,746$1,205$813$537$350$220
34 years$1,676$1,142$759$494$317$196
35 years$1,610$1,083$710$455$287$174
36 years$1,549$1,028$664$419$260$155
37 years$1,490$977$622$386$236$138
38 years$1,435$928$582$356$214$123
39 years$1,383$883$545$328$194$110
40 years$1,333$840$511$303$176$98
41 years$1,286$799$479$279$159$87
42 years$1,241$761$450$258$145$78
43 years$1,199$725$422$238$131$69
44 years$1,158$691$396$220$119$62
45 years$1,120$659$372$203$108$55
46 years$1,083$629$349$187$98$49
47 years$1,048$600$328$173$89$44
48 years$1,015$573$308$160$81$39
49 years$983$547$290$148$74$35
50 years$952$523$272$137$67$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $975,000, adding $6,718 every year, while hoping to spend $38,381 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: 62/31/7 Blend
60$975,000$975,000$975,000$975,000
61$1,081,380$1,029,705$1,014,592$1,146,532
62$1,150,843$1,039,323$1,007,744$1,200,483
63$1,226,106$1,048,126$999,380$1,254,267
64$1,307,718$1,056,034$989,409$1,311,986
65$1,396,286$1,062,961$977,735$1,374,018
66$1,492,477$1,068,815$964,258$1,440,781
67$1,597,022$1,073,500$948,874$1,512,739
68$1,710,729$1,076,912$931,472$1,590,400
69$1,834,485$1,078,942$911,937$1,674,327
70$1,969,266$1,079,473$890,150$1,765,141
71$2,116,145$1,078,382$865,985$1,863,524
72$2,276,306$1,075,537$839,309$1,970,235
73$2,451,049$1,070,798$809,986$2,086,105
74$2,641,806$1,064,017$777,871$2,212,056
75$2,850,154$1,055,038$742,813$2,349,103
76$3,077,829$1,043,694$704,656$2,498,365
77$3,326,741$1,029,808$663,235$2,661,080
78$3,598,993$1,013,193$618,379$2,838,611
79$3,896,902$993,652$569,906$3,032,463
80$4,223,019$970,973$517,630$3,244,299
81$4,580,151$944,935$461,355$3,475,949
82$4,971,392$915,302$400,876$3,729,436
83$5,400,147$881,825$335,979$4,006,991
84$5,870,168$844,241$266,441$4,311,074
85$6,385,587$802,270$192,028$4,644,402
86$6,950,953$755,617$112,497$5,009,970
87$7,571,278$703,971$27,593$5,411,083
88$8,252,083$647,001$0$5,851,386
89$8,999,450$584,357$0$6,339,607
90$9,820,076$515,673$0$6,877,981
91$10,721,340$440,557$0$7,469,359
92$11,711,371$358,599$0$8,119,163
93$12,799,123$269,363$0$8,833,368
94$13,994,462$172,390$0$9,618,565
95$15,308,255$67,195$0$10,482,021
96$16,752,475$0$0$11,431,752
97$18,340,313$0$0$12,492,535
98$20,086,302$0$0$13,684,258
99$22,006,453$0$0$14,994,937
100$24,118,407$0$0$16,436,625