Can I retire at age 61 with 982,000?

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 $982,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$81,093$80,370$79,666$78,978$78,306$75,739
2 years$40,145$39,397$38,673$37,970$37,289$34,727
3 years$26,497$25,747$25,024$24,328$23,657$21,181
4 years$19,675$18,926$18,211$17,527$16,873$14,501
5 years$15,583$14,839$14,132$13,462$12,826$10,566
6 years$12,855$12,117$11,421$10,766$10,149$8,001
7 years$10,908$10,176$9,491$8,851$8,254$6,219
8 years$9,448$8,722$8,049$7,425$6,847$4,923
9 years$8,313$7,594$6,933$6,325$5,767$3,951
10 years$7,406$6,694$6,044$5,452$4,913$3,204
11 years$6,664$5,959$5,321$4,745$4,226$2,619
12 years$6,046$5,349$4,722$4,162$3,662$2,155
13 years$5,524$4,834$4,219$3,674$3,193$1,782
14 years$5,077$4,394$3,791$3,262$2,799$1,479
15 years$4,689$4,014$3,423$2,909$2,465$1,232
16 years$4,351$3,683$3,103$2,604$2,178$1,029
17 years$4,052$3,392$2,824$2,340$1,931$861
18 years$3,787$3,134$2,578$2,109$1,717$722
19 years$3,550$2,904$2,360$1,906$1,531$607
20 years$3,338$2,699$2,166$1,726$1,367$510
21 years$3,145$2,514$1,992$1,566$1,223$430
22 years$2,971$2,347$1,836$1,424$1,097$362
23 years$2,811$2,195$1,695$1,297$984$305
24 years$2,666$2,056$1,568$1,183$885$258
25 years$2,532$1,930$1,452$1,080$796$218
26 years$2,408$1,814$1,347$988$717$184
27 years$2,294$1,707$1,251$904$647$155
28 years$2,189$1,608$1,163$828$583$131
29 years$2,090$1,517$1,082$760$527$111
30 years$1,999$1,433$1,008$697$476$94
31 years$1,913$1,355$939$640$430$79
32 years$1,834$1,282$877$588$389$67
33 years$1,759$1,214$818$541$352$57
34 years$1,688$1,150$765$498$319$48
35 years$1,622$1,091$715$458$289$41
36 years$1,560$1,036$669$422$262$34
37 years$1,501$984$626$389$237$29
38 years$1,445$935$586$358$215$25
39 years$1,392$889$549$331$195$21
40 years$1,343$846$515$305$177$18
41 years$1,295$805$483$281$161$15
42 years$1,250$767$453$260$146$13
43 years$1,207$731$425$240$132$11
44 years$1,167$696$399$221$120$9
45 years$1,128$664$374$204$109$8
46 years$1,091$633$352$189$99$7
47 years$1,056$605$330$174$90$6
48 years$1,022$577$311$161$82$5
49 years$990$551$292$149$74$4
50 years$959$526$274$138$67$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $982,000, adding $4,660 every year, while hoping to spend $50,951 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: 34/36/30 Blend
60$982,000$982,000$982,000$982,000
61$1,086,971$1,034,925$1,019,704$1,113,955
62$1,143,630$1,031,425$999,652$1,131,326
63$1,204,362$1,026,045$977,222$1,145,201
64$1,269,526$1,018,641$952,278$1,159,197
65$1,339,520$1,009,057$924,682$1,173,360
66$1,414,779$997,129$894,287$1,187,747
67$1,495,782$982,683$860,941$1,202,423
68$1,583,053$965,536$824,483$1,217,467
69$1,677,168$945,491$784,747$1,232,968
70$1,778,762$922,343$741,559$1,249,033
71$1,888,529$895,871$694,735$1,265,783
72$2,007,235$865,845$644,085$1,283,358
73$2,135,721$832,019$589,409$1,301,918
74$2,274,910$794,134$530,500$1,321,648
75$2,425,819$751,915$467,140$1,342,756
76$2,589,566$705,071$399,102$1,365,483
77$2,767,378$653,296$326,148$1,390,098
78$2,960,607$596,265$248,031$1,416,910
79$3,170,742$533,634$164,493$1,446,265
80$3,399,416$465,041$75,262$1,478,556
81$3,648,432$390,103$0$1,514,225
82$3,919,768$308,415$0$1,560,161
83$4,215,606$219,548$0$1,636,660
84$4,538,343$123,052$0$1,720,331
85$4,890,621$18,449$0$1,811,983
86$5,275,347$0$0$1,912,515
87$5,695,720$0$0$2,060,465
88$6,155,263$0$0$2,230,328
89$6,657,855$0$0$2,416,247
90$7,207,766$0$0$2,619,821
91$7,809,699$0$0$2,842,808
92$8,468,830$0$0$3,087,147
93$9,190,864$0$0$3,354,970
94$9,982,078$0$0$3,648,630
95$10,849,390$0$0$3,970,713
96$11,800,415$0$0$4,324,072
97$12,843,543$0$0$4,711,846
98$13,988,013$0$0$5,137,494
99$15,244,004$0$0$5,604,828
100$16,622,727$0$0$6,118,043