Can I retire at age 61 with 997,000?

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 $997,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$82,331$81,598$80,882$80,184$79,502$76,681
2 years$40,758$39,999$39,263$38,550$37,858$35,046
3 years$26,902$26,140$25,406$24,699$24,019$21,304
4 years$19,976$19,216$18,489$17,795$17,130$14,534
5 years$15,821$15,065$14,348$13,668$13,022$10,551
6 years$13,052$12,302$11,596$10,930$10,304$7,959
7 years$11,075$10,331$9,636$8,986$8,380$6,161
8 years$9,592$8,856$8,172$7,538$6,952$4,858
9 years$8,440$7,710$7,039$6,421$5,855$3,882
10 years$7,519$6,796$6,136$5,535$4,988$3,134
11 years$6,766$6,050$5,402$4,817$4,290$2,550
12 years$6,139$5,431$4,794$4,225$3,718$2,088
13 years$5,608$4,908$4,284$3,730$3,242$1,718
14 years$5,154$4,461$3,849$3,311$2,842$1,420
15 years$4,761$4,075$3,475$2,953$2,502$1,177
16 years$4,417$3,739$3,151$2,644$2,211$978
17 years$4,114$3,443$2,867$2,376$1,961$814
18 years$3,845$3,182$2,617$2,141$1,744$679
19 years$3,605$2,949$2,396$1,935$1,554$568
20 years$3,388$2,740$2,199$1,752$1,388$475
21 years$3,193$2,552$2,022$1,590$1,242$398
22 years$3,016$2,383$1,864$1,446$1,113$333
23 years$2,854$2,228$1,721$1,317$999$280
24 years$2,706$2,088$1,592$1,201$898$235
25 years$2,570$1,959$1,474$1,097$808$197
26 years$2,445$1,841$1,367$1,003$728$165
27 years$2,329$1,733$1,270$918$657$139
28 years$2,222$1,633$1,180$841$592$117
29 years$2,122$1,541$1,098$771$535$98
30 years$2,029$1,455$1,023$708$483$83
31 years$1,943$1,375$954$650$437$69
32 years$1,862$1,301$890$597$395$58
33 years$1,785$1,232$831$549$358$49
34 years$1,714$1,168$776$505$324$41
35 years$1,647$1,108$726$465$293$35
36 years$1,583$1,052$679$429$266$29
37 years$1,524$999$636$395$241$25
38 years$1,467$949$595$364$218$21
39 years$1,414$903$558$336$198$17
40 years$1,363$859$523$310$180$15
41 years$1,315$817$490$286$163$12
42 years$1,269$778$460$264$148$10
43 years$1,226$742$431$243$134$9
44 years$1,185$707$405$225$122$7
45 years$1,145$674$380$207$111$6
46 years$1,108$643$357$192$100$5
47 years$1,072$614$335$177$91$4
48 years$1,038$586$315$164$83$4
49 years$1,005$560$296$151$75$3
50 years$973$534$279$140$68$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $997,000, adding $3,574 every year, while hoping to spend $41,193 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: 79/7/14 Blend
60$997,000$997,000$997,000$997,000
61$1,102,381$1,049,540$1,034,086$1,186,073
62$1,170,994$1,057,138$1,024,899$1,249,250
63$1,245,226$1,063,728$1,014,023$1,312,908
64$1,325,605$1,069,217$1,001,359$1,381,581
65$1,412,715$1,073,506$986,802$1,455,756
66$1,507,193$1,076,490$970,242$1,535,965
67$1,609,746$1,078,057$951,564$1,622,796
68$1,721,147$1,078,089$930,649$1,716,899
69$1,842,248$1,076,459$907,369$1,818,986
70$1,973,986$1,073,034$881,595$1,929,846
71$2,117,392$1,067,672$853,187$2,050,345
72$2,273,600$1,060,222$822,003$2,181,439
73$2,443,858$1,050,524$787,892$2,324,182
74$2,629,541$1,038,409$750,695$2,479,735
75$2,832,161$1,023,697$710,250$2,649,377
76$3,053,381$1,006,198$666,383$2,834,518
77$3,295,035$985,711$618,916$3,036,714
78$3,559,139$962,021$567,660$3,257,677
79$3,847,914$934,903$512,420$3,499,295
80$4,163,805$904,117$452,989$3,763,652
81$4,509,504$869,410$389,155$4,053,040
82$4,887,975$830,513$320,694$4,369,988
83$5,302,484$787,143$247,372$4,717,285
84$5,756,624$739,000$168,946$5,098,003
85$6,254,355$685,766$85,161$5,515,528
86$6,800,037$627,106$0$5,973,593
87$7,398,472$562,666$0$6,476,950
88$8,054,950$492,071$0$7,043,115
89$8,775,297$414,924$0$7,664,396
90$9,565,929$330,807$0$8,346,349
91$10,433,915$239,278$0$9,095,096
92$11,387,043$139,871$0$9,917,380
93$12,433,889$32,092$0$10,820,633
94$13,583,902$0$0$11,813,042
95$14,847,492$0$0$12,910,144
96$16,236,126$0$0$14,118,564
97$17,762,437$0$0$15,446,827
98$19,440,345$0$0$16,907,051
99$21,285,182$0$0$18,512,584
100$23,313,844$0$0$20,278,133