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%15.5%
1 years$80,515$79,797$79,098$78,415$77,748$75,992
2 years$39,859$39,116$38,397$37,699$37,023$35,263
3 years$26,309$25,563$24,845$24,154$23,489$21,780
4 years$19,535$18,791$18,081$17,402$16,752$15,108
5 years$15,472$14,733$14,032$13,366$12,735$11,160
6 years$12,764$12,030$11,340$10,689$10,077$8,572
7 years$10,830$10,103$9,423$8,788$8,195$6,761
8 years$9,381$8,660$7,992$7,372$6,799$5,435
9 years$8,254$7,540$6,883$6,279$5,725$4,432
10 years$7,353$6,646$6,001$5,413$4,878$3,652
11 years$6,617$5,917$5,283$4,711$4,196$3,036
12 years$6,003$5,311$4,689$4,132$3,636$2,541
13 years$5,485$4,799$4,189$3,648$3,170$2,138
14 years$5,040$4,362$3,764$3,238$2,779$1,807
15 years$4,656$3,985$3,398$2,888$2,447$1,533
16 years$4,320$3,656$3,081$2,586$2,163$1,304
17 years$4,023$3,367$2,804$2,323$1,918$1,113
18 years$3,760$3,112$2,559$2,094$1,705$951
19 years$3,525$2,884$2,343$1,892$1,520$815
20 years$3,314$2,680$2,150$1,714$1,357$699
21 years$3,123$2,496$1,978$1,555$1,215$600
22 years$2,949$2,330$1,823$1,414$1,089$516
23 years$2,791$2,179$1,683$1,288$977$444
24 years$2,647$2,042$1,557$1,174$879$383
25 years$2,514$1,916$1,442$1,073$791$330
26 years$2,391$1,801$1,337$981$712$285
27 years$2,278$1,695$1,242$898$642$246
28 years$2,173$1,597$1,154$822$579$212
29 years$2,076$1,507$1,074$754$523$183
30 years$1,985$1,423$1,000$692$473$158
31 years$1,900$1,345$933$636$427$137
32 years$1,820$1,273$870$584$387$118
33 years$1,746$1,205$813$537$350$102
34 years$1,676$1,142$759$494$317$88
35 years$1,610$1,083$710$455$287$76
36 years$1,549$1,028$664$419$260$66
37 years$1,490$977$622$386$236$57
38 years$1,435$928$582$356$214$50
39 years$1,383$883$545$328$194$43
40 years$1,333$840$511$303$176$37
41 years$1,286$799$479$279$159$32
42 years$1,241$761$450$258$145$28
43 years$1,199$725$422$238$131$24
44 years$1,158$691$396$220$119$21
45 years$1,120$659$372$203$108$18
46 years$1,083$629$349$187$98$16
47 years$1,048$600$328$173$89$13
48 years$1,015$573$308$160$81$12
49 years$983$547$290$148$74$10
50 years$952$523$272$137$67$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $975,000, adding $6,995 every year, while hoping to spend $46,292 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: 40/41/19 Blend
60$975,000$975,000$975,000$975,000
61$1,081,665$1,029,990$1,014,878$1,118,588
62$1,142,741$1,031,206$999,622$1,146,835
63$1,208,495$1,030,929$982,303$1,172,404
64$1,279,355$1,029,038$962,804$1,199,104
65$1,355,792$1,025,404$941,001$1,227,064
66$1,438,323$1,019,889$916,765$1,256,427
67$1,527,516$1,012,347$889,960$1,287,355
68$1,623,994$1,002,624$860,446$1,320,027
69$1,728,445$990,556$828,074$1,354,647
70$1,841,622$975,969$792,690$1,391,443
71$1,964,354$958,678$754,132$1,430,669
72$2,097,554$938,489$712,232$1,472,611
73$2,242,225$915,196$666,812$1,517,587
74$2,399,470$888,578$617,688$1,565,953
75$2,570,503$858,405$564,667$1,618,108
76$2,756,659$824,432$507,549$1,674,494
77$2,959,408$786,399$446,121$1,735,607
78$3,180,367$744,032$380,166$1,801,999
79$3,421,316$697,041$309,452$1,874,284
80$3,684,212$645,118$233,741$1,953,147
81$3,971,213$587,940$152,783$2,039,350
82$4,284,690$525,163$66,315$2,133,740
83$4,627,258$456,425$0$2,237,260
84$5,001,791$381,343$0$2,356,220
85$5,411,458$299,512$0$2,501,210
86$5,859,744$210,506$0$2,660,125
87$6,350,489$113,872$0$2,834,463
88$6,887,921$9,134$0$3,025,881
89$7,476,697$0$0$3,236,216
90$8,121,943$0$0$3,514,515
91$8,829,306$0$0$3,824,254
92$9,605,008$0$0$4,164,050
93$10,455,896$0$0$4,536,922
94$11,389,518$0$0$4,946,193
95$12,414,183$0$0$5,395,524
96$13,539,046$0$0$5,888,950
97$14,774,191$0$0$6,430,912
98$16,130,728$0$0$7,026,304
99$17,620,893$0$0$7,680,519
100$19,258,167$0$0$8,399,496