Can I retire at age 61 with 987,000?

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 $987,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$81,506$80,780$80,071$79,380$78,705$77,625
2 years$40,349$39,598$38,870$38,163$37,478$36,392
3 years$26,632$25,878$25,151$24,452$23,778$22,719
4 years$19,775$19,023$18,304$17,616$16,959$15,936
5 years$15,662$14,914$14,204$13,531$12,892$11,908
6 years$12,921$12,178$11,479$10,821$10,201$9,256
7 years$10,963$10,227$9,539$8,896$8,296$7,392
8 years$9,496$8,767$8,090$7,463$6,882$6,018
9 years$8,356$7,633$6,968$6,357$5,796$4,972
10 years$7,444$6,728$6,075$5,480$4,938$4,153
11 years$6,698$5,990$5,348$4,769$4,247$3,500
12 years$6,077$5,376$4,746$4,183$3,680$2,971
13 years$5,552$4,858$4,241$3,693$3,209$2,537
14 years$5,102$4,416$3,810$3,278$2,813$2,176
15 years$4,713$4,034$3,440$2,924$2,477$1,874
16 years$4,373$3,701$3,119$2,618$2,189$1,620
17 years$4,073$3,409$2,838$2,352$1,941$1,404
18 years$3,806$3,150$2,591$2,120$1,726$1,220
19 years$3,568$2,919$2,372$1,915$1,538$1,062
20 years$3,355$2,713$2,177$1,735$1,374$926
21 years$3,161$2,527$2,002$1,574$1,230$809
22 years$2,986$2,359$1,845$1,431$1,102$707
23 years$2,826$2,206$1,704$1,304$989$619
24 years$2,679$2,067$1,576$1,189$889$543
25 years$2,545$1,940$1,459$1,086$800$476
26 years$2,421$1,823$1,354$993$721$418
27 years$2,306$1,716$1,257$909$650$367
28 years$2,200$1,617$1,168$833$586$323
29 years$2,101$1,525$1,087$764$530$284
30 years$2,009$1,440$1,013$701$478$250
31 years$1,923$1,362$944$644$433$220
32 years$1,843$1,288$881$591$391$193
33 years$1,768$1,220$823$544$354$170
34 years$1,697$1,156$769$500$321$150
35 years$1,630$1,097$719$461$290$132
36 years$1,568$1,041$672$424$263$117
37 years$1,508$989$629$391$238$103
38 years$1,452$940$589$360$216$91
39 years$1,400$893$552$332$196$80
40 years$1,349$850$517$306$178$70
41 years$1,302$809$485$283$161$62
42 years$1,257$771$455$261$146$55
43 years$1,214$734$427$241$133$48
44 years$1,173$700$401$222$121$43
45 years$1,134$667$376$205$109$38
46 years$1,097$637$354$190$99$33
47 years$1,061$608$332$175$90$29
48 years$1,027$580$312$162$82$26
49 years$995$554$293$150$74$23
50 years$964$529$276$138$68$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $987,000, adding $5,289 every year, while hoping to spend $33,565 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: 50/37/13 Blend
60$987,000$987,000$987,000$987,000
61$1,093,130$1,040,819$1,025,520$1,143,670
62$1,168,916$1,056,106$1,024,162$1,194,205
63$1,251,307$1,071,017$1,021,634$1,245,133
64$1,340,943$1,085,499$1,017,860$1,299,721
65$1,438,524$1,099,493$1,012,763$1,358,323
66$1,544,823$1,112,938$1,006,261$1,421,329
67$1,660,692$1,125,769$998,267$1,489,173
68$1,787,065$1,137,915$988,692$1,562,329
69$1,924,974$1,149,300$977,441$1,641,323
70$2,075,551$1,159,846$964,416$1,726,737
71$2,240,046$1,169,467$949,512$1,819,212
72$2,419,832$1,178,072$932,622$1,919,454
73$2,616,422$1,185,565$913,632$2,028,244
74$2,831,482$1,191,843$892,424$2,146,446
75$3,066,846$1,196,796$868,873$2,275,010
76$3,324,534$1,200,308$842,849$2,414,986
77$3,606,769$1,202,256$814,217$2,567,534
78$3,916,000$1,202,507$782,835$2,733,934
79$4,254,926$1,200,924$748,553$2,915,597
80$4,626,516$1,197,357$711,218$3,114,082
81$5,034,042$1,191,649$670,665$3,331,110
82$5,481,108$1,183,633$626,726$3,568,577
83$5,971,683$1,173,133$579,223$3,828,580
84$6,510,138$1,159,961$527,971$4,113,429
85$7,101,291$1,143,917$472,777$4,425,675
86$7,750,445$1,124,792$413,437$4,768,133
87$8,463,445$1,102,361$349,742$5,143,906
88$9,246,729$1,076,389$281,470$5,556,421
89$10,107,387$1,046,624$208,392$6,009,458
90$11,053,234$1,012,802$130,266$6,507,187
91$12,092,877$974,642$46,843$7,054,207
92$13,235,797$931,846$0$7,655,594
93$14,492,443$884,102$0$8,322,797
94$15,874,325$831,075$0$9,063,453
95$17,394,124$772,415$0$9,877,910
96$19,065,811$707,751$0$10,773,721
97$20,904,782$636,688$0$11,759,216
98$22,927,996$558,813$0$12,843,579
99$25,154,143$473,686$0$14,036,936
100$27,603,813$380,844$0$15,350,454