Can I retire at age 61 with 978,000?

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 $978,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$80,762$80,043$79,341$78,656$77,987$76,632
2 years$39,981$39,237$38,515$37,815$37,137$35,776
3 years$26,389$25,642$24,922$24,229$23,561$22,237
4 years$19,595$18,849$18,137$17,455$16,804$15,527
5 years$15,519$14,778$14,075$13,407$12,774$11,547
6 years$12,803$12,067$11,375$10,722$10,108$8,933
7 years$10,863$10,134$9,452$8,815$8,220$7,098
8 years$9,410$8,687$8,016$7,395$6,820$5,749
9 years$8,279$7,563$6,904$6,299$5,743$4,724
10 years$7,376$6,667$6,019$5,430$4,893$3,924
11 years$6,637$5,935$5,299$4,725$4,208$3,289
12 years$6,022$5,327$4,703$4,145$3,647$2,776
13 years$5,501$4,814$4,202$3,659$3,180$2,356
14 years$5,056$4,376$3,775$3,248$2,788$2,009
15 years$4,670$3,997$3,409$2,897$2,455$1,720
16 years$4,333$3,668$3,091$2,594$2,169$1,477
17 years$4,036$3,378$2,812$2,331$1,923$1,272
18 years$3,772$3,121$2,567$2,100$1,710$1,098
19 years$3,536$2,893$2,350$1,898$1,524$949
20 years$3,324$2,688$2,157$1,719$1,362$822
21 years$3,132$2,504$1,984$1,560$1,219$713
22 years$2,958$2,337$1,828$1,418$1,092$620
23 years$2,800$2,186$1,688$1,292$980$539
24 years$2,655$2,048$1,561$1,178$881$469
25 years$2,521$1,922$1,446$1,076$793$408
26 years$2,399$1,806$1,341$984$714$356
27 years$2,285$1,700$1,245$900$644$310
28 years$2,180$1,602$1,158$825$581$271
29 years$2,082$1,511$1,077$757$525$236
30 years$1,991$1,427$1,004$694$474$206
31 years$1,906$1,349$936$638$429$180
32 years$1,826$1,277$873$586$388$158
33 years$1,751$1,209$815$539$351$138
34 years$1,681$1,146$762$496$318$120
35 years$1,615$1,087$712$456$288$105
36 years$1,553$1,032$666$420$261$92
37 years$1,495$980$623$387$236$81
38 years$1,439$931$584$357$214$71
39 years$1,387$885$547$329$194$62
40 years$1,337$842$513$304$176$54
41 years$1,290$802$481$280$160$47
42 years$1,245$764$451$259$145$41
43 years$1,203$728$423$239$132$36
44 years$1,162$694$397$220$119$32
45 years$1,123$661$373$204$108$28
46 years$1,087$631$350$188$98$24
47 years$1,051$602$329$174$89$21
48 years$1,018$575$309$160$81$19
49 years$986$549$291$148$74$16
50 years$955$524$273$137$67$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $978,000, adding $5,255 every year, while hoping to spend $49,237 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: 74/9/17 Blend
60$978,000$978,000$978,000$978,000
61$1,083,177$1,031,343$1,016,184$1,158,752
62$1,141,273$1,029,491$997,838$1,207,678
63$1,203,645$1,025,898$977,227$1,254,722
64$1,270,676$1,020,426$954,224$1,304,972
65$1,342,789$1,012,931$928,695$1,358,736
66$1,420,446$1,003,258$900,499$1,416,352
67$1,504,157$991,242$869,490$1,478,194
68$1,594,478$976,711$835,516$1,544,673
69$1,692,025$959,479$798,416$1,616,245
70$1,797,471$939,353$758,022$1,693,413
71$1,911,558$916,126$714,161$1,776,730
72$2,035,100$889,580$666,648$1,866,809
73$2,168,993$859,482$615,294$1,964,325
74$2,314,222$825,588$559,898$2,070,022
75$2,471,870$787,640$500,252$2,184,724
76$2,643,129$745,362$436,138$2,309,337
77$2,829,308$698,465$367,329$2,444,864
78$3,031,850$646,642$293,587$2,592,409
79$3,252,341$589,570$214,665$2,753,192
80$3,492,526$526,905$130,302$2,928,559
81$3,754,326$458,286$40,229$3,119,995
82$4,039,855$383,329$0$3,329,138
83$4,351,439$301,631$0$3,567,934
84$4,691,639$212,765$0$3,836,686
85$5,063,276$116,279$0$4,130,344
86$5,469,451$11,698$0$4,451,395
87$5,913,583$0$0$4,802,577
88$6,399,432$0$0$5,196,958
89$6,931,143$0$0$5,629,875
90$7,513,275$0$0$6,103,889
91$8,150,852$0$0$6,623,095
92$8,849,406$0$0$7,192,003
93$9,615,028$0$0$7,815,580
94$10,454,427$0$0$8,499,297
95$11,374,993$0$0$9,249,179
96$12,384,864$0$0$10,071,861
97$13,493,006$0$0$10,974,654
98$14,709,291$0$0$11,965,609
99$16,044,598$0$0$13,053,595
100$17,510,907$0$0$14,248,382