Can I retire at age 61 with 993,000?

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 $993,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$82,001$81,271$80,558$79,862$79,183$76,618
2 years$40,595$39,839$39,106$38,395$37,706$35,146
3 years$26,794$26,035$25,304$24,600$23,922$21,447
4 years$19,895$19,138$18,415$17,723$17,062$14,691
5 years$15,757$15,005$14,291$13,613$12,970$10,709
6 years$12,999$12,253$11,549$10,886$10,263$8,115
7 years$11,030$10,290$9,597$8,950$8,346$6,310
8 years$9,554$8,820$8,139$7,508$6,924$4,999
9 years$8,406$7,680$7,010$6,395$5,831$4,014
10 years$7,489$6,769$6,112$5,513$4,968$3,257
11 years$6,739$6,026$5,381$4,798$4,273$2,664
12 years$6,114$5,409$4,775$4,208$3,703$2,193
13 years$5,586$4,888$4,266$3,715$3,229$1,815
14 years$5,133$4,443$3,833$3,298$2,831$1,508
15 years$4,742$4,059$3,461$2,941$2,492$1,257
16 years$4,399$3,724$3,138$2,634$2,203$1,050
17 years$4,098$3,429$2,855$2,366$1,953$880
18 years$3,830$3,169$2,607$2,132$1,737$739
19 years$3,590$2,937$2,386$1,927$1,548$621
20 years$3,375$2,729$2,190$1,745$1,383$523
21 years$3,180$2,542$2,014$1,584$1,237$440
22 years$3,004$2,373$1,857$1,440$1,109$371
23 years$2,843$2,219$1,714$1,312$995$313
24 years$2,695$2,079$1,585$1,196$895$265
25 years$2,560$1,951$1,468$1,092$805$224
26 years$2,435$1,834$1,362$999$725$189
27 years$2,320$1,726$1,265$914$654$160
28 years$2,213$1,626$1,176$838$590$135
29 years$2,114$1,534$1,094$768$533$114
30 years$2,021$1,449$1,019$705$481$97
31 years$1,935$1,370$950$647$435$82
32 years$1,854$1,296$886$595$394$69
33 years$1,778$1,227$828$547$356$59
34 years$1,707$1,163$773$503$323$50
35 years$1,640$1,103$723$463$292$42
36 years$1,577$1,047$676$427$265$36
37 years$1,518$995$633$393$240$30
38 years$1,461$945$593$362$218$26
39 years$1,408$899$555$334$197$22
40 years$1,358$855$521$308$179$18
41 years$1,310$814$488$284$162$16
42 years$1,264$775$458$262$147$13
43 years$1,221$739$430$242$134$11
44 years$1,180$704$403$224$121$9
45 years$1,141$671$379$207$110$8
46 years$1,103$641$356$191$100$7
47 years$1,067$611$334$176$91$6
48 years$1,033$584$314$163$82$5
49 years$1,001$557$295$151$75$4
50 years$970$532$277$139$68$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $993,000, adding $6,183 every year, while hoping to spend $51,612 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: 60/22/18 Blend
60$993,000$993,000$993,000$993,000
61$1,100,664$1,048,035$1,032,643$1,161,229
62$1,158,017$1,044,474$1,012,322$1,199,330
63$1,219,490$1,039,008$989,590$1,234,621
64$1,285,449$1,031,491$964,313$1,271,935
65$1,356,295$1,021,765$936,348$1,311,476
66$1,432,470$1,009,663$905,547$1,353,468
67$1,514,455$995,010$871,757$1,398,162
68$1,602,784$977,620$834,815$1,445,836
69$1,698,038$957,293$794,551$1,496,800
70$1,800,859$933,822$750,790$1,551,395
71$1,911,950$906,983$703,345$1,610,002
72$2,032,086$876,543$652,025$1,673,042
73$2,162,118$842,252$596,626$1,740,983
74$2,302,979$803,847$536,939$1,814,344
75$2,455,699$761,052$472,742$1,893,699
76$2,621,407$713,570$403,805$1,979,685
77$2,801,347$661,091$329,889$2,073,008
78$2,996,886$603,287$250,743$2,174,450
79$3,209,529$539,809$166,103$2,284,876
80$3,440,931$470,289$75,698$2,405,246
81$3,692,913$394,340$0$2,536,621
82$3,967,479$311,552$0$2,684,167
83$4,266,834$221,490$0$2,860,969
84$4,593,406$123,697$0$3,053,971
85$4,949,865$17,691$0$3,264,828
86$5,339,153$0$0$3,495,366
87$5,764,507$0$0$3,771,094
88$6,229,492$0$0$4,077,269
89$6,738,030$0$0$4,412,202
90$7,294,443$0$0$4,778,748
91$7,903,487$0$0$5,180,052
92$8,570,402$0$0$5,619,575
93$9,300,957$0$0$6,101,132
94$10,101,503$0$0$6,628,920
95$10,979,039$0$0$7,207,566
96$11,941,269$0$0$7,842,162
97$12,996,682$0$0$8,538,318
98$14,154,624$0$0$9,302,215
99$15,425,394$0$0$10,140,658
100$16,820,333$0$0$11,061,145