Can I retire at age 61 with 985,000?

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 $985,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$81,340$80,616$79,909$79,219$78,545$77,628
2 years$40,268$39,518$38,791$38,086$37,403$36,479
3 years$26,578$25,825$25,100$24,402$23,730$22,829
4 years$19,735$18,984$18,267$17,580$16,924$16,053
5 years$15,630$14,884$14,176$13,503$12,866$12,027
6 years$12,895$12,154$11,456$10,799$10,180$9,374
7 years$10,941$10,207$9,520$8,878$8,279$7,507
8 years$9,477$8,749$8,074$7,448$6,868$6,130
9 years$8,339$7,618$6,954$6,344$5,784$5,079
10 years$7,429$6,715$6,063$5,468$4,928$4,255
11 years$6,684$5,978$5,337$4,759$4,239$3,598
12 years$6,065$5,365$4,737$4,174$3,673$3,064
13 years$5,541$4,849$4,232$3,685$3,203$2,624
14 years$5,092$4,407$3,802$3,271$2,808$2,259
15 years$4,704$4,026$3,433$2,918$2,472$1,952
16 years$4,364$3,694$3,113$2,612$2,185$1,693
17 years$4,065$3,402$2,832$2,347$1,937$1,472
18 years$3,799$3,143$2,586$2,115$1,723$1,284
19 years$3,561$2,913$2,367$1,911$1,535$1,122
20 years$3,348$2,707$2,172$1,731$1,371$982
21 years$3,155$2,522$1,998$1,571$1,227$861
22 years$2,980$2,354$1,842$1,428$1,100$756
23 years$2,820$2,202$1,700$1,301$987$664
24 years$2,674$2,063$1,573$1,187$888$584
25 years$2,539$1,936$1,456$1,084$799$515
26 years$2,416$1,819$1,351$991$719$453
27 years$2,301$1,712$1,254$907$649$400
28 years$2,195$1,613$1,166$831$585$353
29 years$2,097$1,522$1,085$762$528$312
30 years$2,005$1,437$1,011$699$477$275
31 years$1,919$1,359$942$642$432$243
32 years$1,839$1,286$879$590$391$215
33 years$1,764$1,218$821$543$353$190
34 years$1,693$1,154$767$499$320$168
35 years$1,627$1,095$717$460$290$149
36 years$1,564$1,039$671$423$263$132
37 years$1,505$987$628$390$238$117
38 years$1,450$938$588$360$216$103
39 years$1,397$892$551$332$196$91
40 years$1,347$848$516$306$177$81
41 years$1,299$808$484$282$161$72
42 years$1,254$769$454$260$146$64
43 years$1,211$733$426$240$133$56
44 years$1,170$698$400$222$120$50
45 years$1,131$666$376$205$109$44
46 years$1,094$635$353$189$99$39
47 years$1,059$606$331$175$90$35
48 years$1,025$579$311$162$82$31
49 years$993$553$293$149$74$27
50 years$962$528$275$138$67$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $985,000, adding $4,857 every year, while hoping to spend $28,963 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: 54/38/8 Blend
60$985,000$985,000$985,000$985,000
61$1,090,480$1,038,275$1,023,007$1,147,000
62$1,170,893$1,058,334$1,026,462$1,205,869
63$1,258,536$1,078,405$1,029,061$1,266,314
64$1,354,119$1,098,459$1,030,746$1,331,403
65$1,458,418$1,118,462$1,031,455$1,401,580
66$1,572,290$1,138,380$1,031,122$1,477,337
67$1,696,678$1,158,175$1,029,679$1,559,213
68$1,832,620$1,177,807$1,027,054$1,647,805
69$1,981,258$1,197,231$1,023,172$1,743,768
70$2,143,852$1,216,401$1,017,954$1,847,826
71$2,321,787$1,235,266$1,011,317$1,960,778
72$2,516,587$1,253,772$1,003,175$2,083,501
73$2,729,934$1,271,861$993,435$2,216,966
74$2,963,676$1,289,472$982,005$2,362,241
75$3,219,852$1,306,537$968,783$2,520,503
76$3,500,705$1,322,985$953,665$2,693,050
77$3,808,706$1,338,741$936,542$2,881,315
78$4,146,578$1,353,723$917,300$3,086,875
79$4,517,318$1,367,844$895,819$3,311,470
80$4,924,230$1,381,014$871,974$3,557,018
81$5,370,949$1,393,132$845,633$3,825,635
82$5,861,484$1,404,093$816,660$4,119,650
83$6,400,249$1,413,787$784,912$4,441,635
84$6,992,106$1,422,095$750,238$4,794,424
85$7,642,412$1,428,888$712,482$5,181,142
86$8,357,068$1,434,034$671,480$5,605,231
87$9,142,576$1,437,388$627,061$6,070,492
88$10,006,097$1,438,799$579,047$6,581,110
89$10,955,524$1,438,105$527,249$7,141,702
90$11,999,550$1,435,134$471,474$7,757,356
91$13,147,752$1,429,704$411,517$8,433,683
92$14,410,686$1,421,622$347,166$9,176,870
93$15,799,977$1,410,683$278,197$9,993,734
94$17,328,437$1,396,669$204,379$10,891,795
95$19,010,181$1,379,349$125,469$11,879,339
96$20,860,762$1,358,480$41,215$12,965,504
97$22,897,316$1,333,801$0$14,160,361
98$25,138,723$1,305,039$0$15,479,173
99$27,605,790$1,271,903$0$16,934,048
100$30,321,439$1,234,085$0$18,534,982