Can I retire at age 61 with 989,000?

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 $989,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$81,671$80,943$80,233$79,541$78,864$76,370
2 years$40,431$39,678$38,948$38,241$37,554$35,064
3 years$26,686$25,930$25,202$24,501$23,826$21,418
4 years$19,815$19,061$18,341$17,652$16,993$14,686
5 years$15,694$14,944$14,233$13,558$12,918$10,717
6 years$12,947$12,203$11,502$10,843$10,221$8,129
7 years$10,986$10,248$9,559$8,914$8,313$6,329
8 years$9,515$8,785$8,106$7,478$6,896$5,020
9 years$8,373$7,649$6,982$6,370$5,808$4,036
10 years$7,459$6,742$6,087$5,491$4,948$3,279
11 years$6,712$6,002$5,359$4,779$4,256$2,686
12 years$6,089$5,387$4,756$4,191$3,688$2,214
13 years$5,563$4,868$4,249$3,700$3,216$1,834
14 years$5,113$4,425$3,818$3,285$2,819$1,526
15 years$4,723$4,042$3,447$2,929$2,482$1,274
16 years$4,382$3,709$3,125$2,623$2,194$1,066
17 years$4,081$3,416$2,844$2,357$1,945$894
18 years$3,814$3,156$2,596$2,124$1,730$752
19 years$3,576$2,925$2,377$1,919$1,542$633
20 years$3,361$2,718$2,181$1,738$1,377$534
21 years$3,168$2,532$2,006$1,577$1,232$450
22 years$2,992$2,363$1,849$1,434$1,104$380
23 years$2,831$2,210$1,707$1,306$991$321
24 years$2,685$2,071$1,579$1,191$891$272
25 years$2,550$1,944$1,462$1,088$802$230
26 years$2,426$1,827$1,356$995$722$195
27 years$2,311$1,719$1,259$911$651$165
28 years$2,204$1,620$1,171$834$588$140
29 years$2,105$1,528$1,090$765$531$119
30 years$2,013$1,443$1,015$702$479$101
31 years$1,927$1,364$946$645$433$85
32 years$1,847$1,291$883$593$392$72
33 years$1,771$1,223$824$545$355$61
34 years$1,700$1,159$770$501$321$52
35 years$1,634$1,099$720$462$291$44
36 years$1,571$1,043$674$425$264$37
37 years$1,511$991$630$392$239$32
38 years$1,455$942$590$361$217$27
39 years$1,402$895$553$333$196$23
40 years$1,352$852$518$307$178$19
41 years$1,304$811$486$283$162$16
42 years$1,259$772$456$261$147$14
43 years$1,216$736$428$241$133$12
44 years$1,175$701$402$223$121$10
45 years$1,136$669$377$206$110$9
46 years$1,099$638$354$190$100$7
47 years$1,063$609$333$176$90$6
48 years$1,029$581$313$162$82$5
49 years$997$555$294$150$75$4
50 years$966$530$276$139$68$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $989,000, adding $4,546 every year, while hoping to spend $24,190 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: 39/42/19 Blend
60$989,000$989,000$989,000$989,000
61$1,094,567$1,042,150$1,026,821$1,130,892
62$1,180,475$1,067,478$1,035,481$1,182,703
63$1,274,335$1,093,235$1,043,621$1,236,043
64$1,376,932$1,119,419$1,051,197$1,293,217
65$1,489,131$1,146,023$1,058,165$1,354,585
66$1,611,885$1,173,040$1,064,476$1,420,544
67$1,746,242$1,200,464$1,070,081$1,491,532
68$1,893,357$1,228,285$1,074,926$1,568,031
69$2,054,501$1,256,492$1,078,958$1,650,572
70$2,231,074$1,285,074$1,082,117$1,739,740
71$2,424,619$1,314,018$1,084,343$1,836,180
72$2,636,833$1,343,308$1,085,572$1,940,603
73$2,869,588$1,372,928$1,085,736$2,053,792
74$3,124,943$1,402,859$1,084,766$2,176,611
75$3,405,169$1,433,080$1,082,586$2,310,012
76$3,712,763$1,463,569$1,079,121$2,455,043
77$4,050,481$1,494,300$1,074,287$2,612,862
78$4,421,356$1,525,246$1,068,001$2,784,742
79$4,828,728$1,556,376$1,060,173$2,972,089
80$5,276,278$1,587,658$1,050,708$3,176,453
81$5,768,061$1,619,057$1,039,510$3,399,540
82$6,308,545$1,650,532$1,026,475$3,643,235
83$6,902,650$1,682,042$1,011,496$3,909,611
84$7,555,799$1,713,541$994,460$4,200,958
85$8,273,966$1,744,979$975,250$4,519,798
86$9,063,731$1,776,304$953,741$4,868,911
87$9,932,345$1,807,456$929,805$5,251,363
88$10,887,798$1,838,375$903,307$5,670,533
89$11,938,890$1,868,993$874,105$6,130,148
90$13,095,322$1,899,238$842,052$6,634,316
91$14,367,777$1,929,033$806,993$7,187,563
92$15,768,029$1,958,295$768,766$7,794,883
93$17,309,052$1,986,935$727,204$8,461,777
94$19,005,138$2,014,858$682,128$9,194,314
95$20,872,038$2,041,962$633,355$9,999,180
96$22,927,106$2,068,138$580,693$10,883,749
97$25,189,464$2,093,269$523,938$11,856,148
98$27,680,181$2,117,231$462,882$12,925,337
99$30,422,475$2,139,892$397,305$14,101,192
100$33,441,929$2,161,108$326,976$15,394,601