Can I retire at age 61 with 994,000?

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 $994,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$82,084$81,352$80,639$79,943$79,263$76,481
2 years$40,635$39,879$39,145$38,434$37,744$34,971
3 years$26,821$26,061$25,330$24,625$23,947$21,269
4 years$19,915$19,158$18,433$17,741$17,079$14,517
5 years$15,773$15,020$14,305$13,627$12,983$10,544
6 years$13,012$12,265$11,561$10,897$10,273$7,958
7 years$11,041$10,300$9,607$8,959$8,355$6,164
8 years$9,564$8,829$8,147$7,516$6,931$4,863
9 years$8,415$7,687$7,017$6,402$5,837$3,889
10 years$7,496$6,776$6,118$5,518$4,973$3,141
11 years$6,745$6,032$5,386$4,803$4,277$2,558
12 years$6,120$5,414$4,780$4,213$3,707$2,096
13 years$5,591$4,893$4,271$3,719$3,232$1,726
14 years$5,139$4,447$3,837$3,301$2,833$1,427
15 years$4,747$4,063$3,464$2,944$2,495$1,183
16 years$4,404$3,728$3,141$2,636$2,205$984
17 years$4,102$3,433$2,858$2,369$1,955$820
18 years$3,833$3,172$2,609$2,135$1,738$685
19 years$3,594$2,940$2,389$1,929$1,549$573
20 years$3,378$2,732$2,192$1,747$1,384$479
21 years$3,184$2,545$2,016$1,585$1,238$402
22 years$3,007$2,375$1,858$1,442$1,110$337
23 years$2,846$2,222$1,716$1,313$996$283
24 years$2,698$2,082$1,587$1,197$896$238
25 years$2,563$1,953$1,470$1,094$806$200
26 years$2,438$1,836$1,363$1,000$726$168
27 years$2,322$1,728$1,266$915$655$141
28 years$2,215$1,628$1,177$839$591$119
29 years$2,116$1,536$1,095$769$533$100
30 years$2,023$1,451$1,020$706$482$84
31 years$1,937$1,371$951$648$436$71
32 years$1,856$1,297$887$596$394$60
33 years$1,780$1,229$828$548$357$50
34 years$1,709$1,165$774$504$323$42
35 years$1,642$1,105$724$464$292$36
36 years$1,579$1,048$677$427$265$30
37 years$1,519$996$634$394$240$25
38 years$1,463$946$593$363$218$21
39 years$1,409$900$556$335$197$18
40 years$1,359$856$521$309$179$15
41 years$1,311$815$489$285$162$13
42 years$1,266$776$458$263$147$11
43 years$1,222$739$430$243$134$9
44 years$1,181$705$404$224$121$8
45 years$1,142$672$379$207$110$6
46 years$1,104$641$356$191$100$5
47 years$1,069$612$334$177$91$5
48 years$1,034$584$314$163$83$4
49 years$1,002$558$295$151$75$3
50 years$970$533$278$139$68$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $994,000, adding $4,746 every year, while hoping to spend $30,452 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: 75/5/20 Blend
60$994,000$994,000$994,000$994,000
61$1,100,283$1,047,601$1,032,194$1,177,266
62$1,180,112$1,066,533$1,034,372$1,247,882
63$1,267,062$1,085,372$1,035,602$1,321,076
64$1,361,828$1,104,081$1,035,821$1,400,517
65$1,465,174$1,122,621$1,034,961$1,486,820
66$1,577,942$1,140,949$1,032,952$1,580,665
67$1,701,057$1,159,020$1,029,720$1,682,798
68$1,835,537$1,176,785$1,025,189$1,794,043
69$1,982,505$1,194,191$1,019,276$1,915,308
70$2,143,196$1,211,181$1,011,897$2,047,593
71$2,318,969$1,227,696$1,002,962$2,192,001
72$2,511,321$1,243,671$992,379$2,349,747
73$2,721,902$1,259,037$980,050$2,522,169
74$2,952,527$1,273,721$965,872$2,710,742
75$3,205,194$1,287,643$949,739$2,917,094
76$3,482,107$1,300,719$931,537$3,143,017
77$3,785,688$1,312,861$911,151$3,390,485
78$4,118,610$1,323,973$888,456$3,661,676
79$4,483,813$1,333,953$863,324$3,958,988
80$4,884,538$1,342,693$835,622$4,285,068
81$5,324,354$1,350,077$805,207$4,642,829
82$5,807,190$1,355,983$771,934$5,035,483
83$6,337,378$1,360,281$735,649$5,466,571
84$6,919,688$1,362,832$696,190$5,939,996
85$7,559,374$1,363,489$653,391$6,460,057
86$8,262,225$1,362,095$607,074$7,031,495
87$9,034,619$1,358,484$557,058$7,659,535
88$9,883,580$1,352,480$503,150$8,349,933
89$10,816,850$1,343,897$445,150$9,109,038
90$11,842,956$1,332,534$382,849$9,943,842
91$12,971,291$1,318,183$316,029$10,862,056
92$14,212,209$1,300,619$244,461$11,872,175
93$15,577,112$1,279,607$167,908$12,983,563
94$17,078,565$1,254,896$86,121$14,206,542
95$18,730,414$1,226,221$0$15,552,485
96$20,547,910$1,193,300$0$17,034,178
97$22,547,862$1,155,837$0$18,684,819
98$24,748,787$1,113,516$0$20,501,298
99$27,171,089$1,066,004$0$22,500,461
100$29,837,251$1,012,949$0$24,700,872