Can I retire at age 61 with 986,000?

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 $986,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$81,423$80,698$79,990$79,299$78,625$75,655
2 years$40,308$39,558$38,830$38,125$37,440$34,483
3 years$26,605$25,851$25,126$24,427$23,754$20,901
4 years$19,755$19,004$18,285$17,598$16,941$14,216
5 years$15,646$14,899$14,190$13,517$12,879$10,287
6 years$12,908$12,166$11,468$10,810$10,190$7,735
7 years$10,952$10,217$9,530$8,887$8,288$5,967
8 years$9,487$8,758$8,082$7,455$6,875$4,688
9 years$8,347$7,625$6,961$6,350$5,790$3,733
10 years$7,436$6,721$6,069$5,474$4,933$3,002
11 years$6,691$5,984$5,343$4,764$4,243$2,433
12 years$6,071$5,371$4,742$4,179$3,677$1,985
13 years$5,546$4,853$4,236$3,689$3,206$1,626
14 years$5,097$4,412$3,806$3,275$2,811$1,338
15 years$4,708$4,030$3,437$2,921$2,475$1,104
16 years$4,368$3,698$3,116$2,615$2,187$914
17 years$4,069$3,405$2,835$2,350$1,939$758
18 years$3,803$3,147$2,588$2,117$1,724$629
19 years$3,565$2,916$2,369$1,913$1,537$523
20 years$3,351$2,710$2,174$1,733$1,373$436
21 years$3,158$2,524$2,000$1,573$1,228$363
22 years$2,983$2,356$1,843$1,430$1,101$303
23 years$2,823$2,204$1,702$1,302$988$253
24 years$2,676$2,065$1,574$1,188$888$211
25 years$2,542$1,938$1,458$1,085$799$176
26 years$2,418$1,821$1,352$992$720$148
27 years$2,304$1,714$1,256$908$649$123
28 years$2,198$1,615$1,167$832$586$103
29 years$2,099$1,524$1,086$763$529$86
30 years$2,007$1,439$1,012$700$478$72
31 years$1,921$1,360$943$643$432$60
32 years$1,841$1,287$880$591$391$51
33 years$1,766$1,219$822$543$354$42
34 years$1,695$1,155$768$500$320$35
35 years$1,629$1,096$718$460$290$30
36 years$1,566$1,040$672$424$263$25
37 years$1,507$988$629$391$238$21
38 years$1,451$939$589$360$216$17
39 years$1,398$893$551$332$196$15
40 years$1,348$849$517$306$178$12
41 years$1,300$808$485$282$161$10
42 years$1,255$770$455$261$146$9
43 years$1,212$734$427$241$133$7
44 years$1,172$699$400$222$120$6
45 years$1,133$667$376$205$109$5
46 years$1,095$636$353$190$99$4
47 years$1,060$607$332$175$90$4
48 years$1,026$579$312$162$82$3
49 years$994$553$293$150$74$2
50 years$963$529$276$138$68$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $986,000, adding $2,653 every year, while hoping to spend $43,826 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: 47/40/13 Blend
60$986,000$986,000$986,000$986,000
61$1,089,309$1,037,051$1,021,768$1,136,426
62$1,153,788$1,041,236$1,009,366$1,173,461
63$1,223,374$1,044,157$995,081$1,208,915
64$1,298,544$1,045,706$978,801$1,246,420
65$1,379,818$1,045,768$960,414$1,286,183
66$1,467,770$1,044,221$939,798$1,328,434
67$1,563,031$1,040,936$916,829$1,373,428
68$1,666,292$1,035,774$891,375$1,421,449
69$1,778,317$1,028,590$863,300$1,472,812
70$1,899,943$1,019,229$832,458$1,527,867
71$2,032,093$1,007,527$798,701$1,587,002
72$2,175,781$993,310$761,872$1,650,649
73$2,332,121$976,393$721,805$1,719,287
74$2,502,342$956,581$678,330$1,793,446
75$2,687,795$933,667$631,268$1,873,714
76$2,889,965$907,432$580,431$1,960,746
77$3,110,490$877,644$525,623$2,055,265
78$3,351,169$844,058$466,641$2,158,073
79$3,613,984$806,413$403,269$2,270,059
80$3,901,118$764,435$335,287$2,392,208
81$4,214,973$717,833$262,460$2,525,612
82$4,558,193$666,299$184,545$2,671,478
83$4,933,690$609,510$101,289$2,831,145
84$5,344,671$547,120$12,426$3,006,093
85$5,794,666$478,767$0$3,197,961
86$6,287,562$404,067$0$3,419,996
87$6,827,642$322,615$0$3,665,354
88$7,419,621$233,982$0$3,934,574
89$8,068,692$137,717$0$4,230,155
90$8,780,574$33,340$0$4,554,859
91$9,561,568$0$0$4,911,738
92$10,418,612$0$0$5,339,220
93$11,359,351$0$0$5,824,670
94$12,392,203$0$0$6,357,774
95$13,526,444$0$0$6,943,332
96$14,772,289$0$0$7,586,635
97$16,140,995$0$0$8,293,510
98$17,644,959$0$0$9,070,376
99$19,297,841$0$0$9,924,308
100$21,114,690$0$0$10,863,096