Can I retire at age 61 with 991,000?

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 $991,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$81,836$81,107$80,396$79,702$79,024$77,875
2 years$40,513$39,758$39,027$38,318$37,630$36,475
3 years$26,740$25,982$25,253$24,551$23,874$22,749
4 years$19,855$19,100$18,378$17,687$17,027$15,940
5 years$15,725$14,975$14,262$13,586$12,944$11,899
6 years$12,973$12,228$11,526$10,865$10,242$9,240
7 years$11,008$10,269$9,578$8,932$8,330$7,370
8 years$9,535$8,802$8,123$7,493$6,910$5,994
9 years$8,389$7,664$6,996$6,382$5,819$4,945
10 years$7,474$6,755$6,099$5,502$4,958$4,126
11 years$6,725$6,014$5,370$4,788$4,264$3,473
12 years$6,102$5,398$4,766$4,200$3,695$2,945
13 years$5,575$4,878$4,258$3,708$3,222$2,511
14 years$5,123$4,434$3,826$3,291$2,825$2,151
15 years$4,732$4,051$3,454$2,935$2,487$1,850
16 years$4,391$3,716$3,132$2,628$2,198$1,597
17 years$4,089$3,423$2,850$2,362$1,949$1,382
18 years$3,822$3,163$2,601$2,128$1,733$1,199
19 years$3,583$2,931$2,381$1,923$1,545$1,042
20 years$3,368$2,724$2,186$1,742$1,380$907
21 years$3,174$2,537$2,010$1,581$1,235$791
22 years$2,998$2,368$1,853$1,437$1,107$691
23 years$2,837$2,215$1,711$1,309$993$604
24 years$2,690$2,075$1,582$1,194$893$529
25 years$2,555$1,948$1,465$1,090$804$463
26 years$2,430$1,830$1,359$997$724$406
27 years$2,315$1,723$1,262$912$653$356
28 years$2,209$1,623$1,173$836$589$312
29 years$2,110$1,531$1,092$767$532$274
30 years$2,017$1,446$1,017$704$480$241
31 years$1,931$1,367$948$646$434$212
32 years$1,850$1,294$885$594$393$186
33 years$1,775$1,225$826$546$356$164
34 years$1,704$1,161$772$502$322$144
35 years$1,637$1,101$721$463$292$126
36 years$1,574$1,045$675$426$264$111
37 years$1,515$993$632$392$239$98
38 years$1,458$943$592$362$217$86
39 years$1,405$897$554$334$197$76
40 years$1,355$854$519$308$179$67
41 years$1,307$812$487$284$162$59
42 years$1,262$774$457$262$147$52
43 years$1,219$737$429$242$133$46
44 years$1,177$703$402$223$121$40
45 years$1,138$670$378$206$110$35
46 years$1,101$639$355$190$100$31
47 years$1,065$610$333$176$91$27
48 years$1,031$582$313$163$82$24
49 years$999$556$295$150$75$21
50 years$968$531$277$139$68$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $991,000, adding $5,981 every year, while hoping to spend $21,511 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: 46/46/8 Blend
60$991,000$991,000$991,000$991,000
61$1,098,251$1,045,728$1,030,368$1,146,077
62$1,187,386$1,074,082$1,041,998$1,208,000
63$1,284,890$1,103,103$1,053,296$1,272,418
64$1,391,597$1,132,803$1,064,229$1,341,798
65$1,508,421$1,163,191$1,074,762$1,416,608
66$1,636,369$1,194,277$1,084,856$1,497,360
67$1,776,552$1,226,070$1,094,472$1,584,616
68$1,930,192$1,258,579$1,103,568$1,678,999
69$2,098,634$1,291,812$1,112,101$1,781,191
70$2,283,362$1,325,778$1,120,023$1,891,942
71$2,486,008$1,360,484$1,127,287$2,012,082
72$2,708,371$1,395,938$1,133,841$2,142,521
73$2,952,432$1,432,146$1,139,632$2,284,262
74$3,220,373$1,469,114$1,144,603$2,438,409
75$3,514,598$1,506,848$1,148,694$2,606,180
76$3,837,756$1,545,352$1,151,843$2,788,912
77$4,192,762$1,584,629$1,153,985$2,988,082
78$4,582,830$1,624,683$1,155,051$3,205,314
79$5,011,502$1,665,515$1,154,968$3,442,398
80$5,482,676$1,707,127$1,153,660$3,701,305
81$6,000,651$1,749,517$1,151,049$3,984,207
82$6,570,159$1,792,685$1,147,051$4,293,496
83$7,196,416$1,836,628$1,141,579$4,631,806
84$7,885,169$1,881,341$1,134,540$5,002,043
85$8,642,748$1,926,819$1,125,839$5,407,403
86$9,476,129$1,973,054$1,115,375$5,851,412
87$10,392,998$2,020,036$1,103,043$6,337,951
88$11,401,821$2,067,756$1,088,733$6,871,300
89$12,511,929$2,116,198$1,072,328$7,456,172
90$13,733,603$2,165,349$1,053,709$8,097,761
91$15,078,170$2,215,191$1,032,747$8,801,790
92$16,558,110$2,265,702$1,009,311$9,574,565
93$18,187,176$2,316,860$983,261$10,423,035
94$19,980,522$2,368,639$954,454$11,354,858
95$21,954,843$2,421,011$922,736$12,378,470
96$24,128,539$2,473,942$887,950$13,503,170
97$26,521,882$2,527,398$849,929$14,739,204
98$29,157,212$2,581,338$808,499$16,097,862
99$32,059,143$2,635,719$763,479$17,591,587
100$35,254,800$2,690,494$714,680$19,234,090