Can I retire at age 61 with 1,000,000?

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 $1,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$82,579$81,843$81,126$80,425$79,741$79,272
2 years$40,881$40,119$39,381$38,666$37,972$37,499
3 years$26,983$26,218$25,482$24,774$24,091$23,628
4 years$20,036$19,273$18,545$17,848$17,182$16,733
5 years$15,868$15,111$14,391$13,709$13,061$12,628
6 years$13,091$12,339$11,630$10,963$10,335$9,917
7 years$11,108$10,362$9,665$9,013$8,405$8,004
8 years$9,621$8,882$8,197$7,561$6,973$6,588
9 years$8,466$7,734$7,060$6,440$5,872$5,503
10 years$7,542$6,817$6,155$5,552$5,003$4,650
11 years$6,786$6,069$5,419$4,832$4,303$3,965
12 years$6,157$5,447$4,809$4,238$3,729$3,407
13 years$5,625$4,922$4,296$3,742$3,252$2,944
14 years$5,170$4,474$3,860$3,321$2,850$2,558
15 years$4,775$4,087$3,485$2,962$2,510$2,231
16 years$4,430$3,750$3,160$2,652$2,218$1,954
17 years$4,126$3,454$2,875$2,383$1,967$1,716
18 years$3,857$3,191$2,625$2,148$1,749$1,511
19 years$3,615$2,958$2,403$1,940$1,559$1,333
20 years$3,399$2,748$2,205$1,757$1,392$1,179
21 years$3,203$2,560$2,029$1,595$1,246$1,045
22 years$3,025$2,390$1,870$1,450$1,117$927
23 years$2,863$2,235$1,726$1,321$1,002$823
24 years$2,714$2,094$1,596$1,205$901$732
25 years$2,578$1,965$1,479$1,100$811$652
26 years$2,453$1,847$1,371$1,006$730$581
27 years$2,336$1,738$1,273$921$658$518
28 years$2,229$1,638$1,184$844$594$462
29 years$2,129$1,545$1,102$774$537$413
30 years$2,036$1,459$1,026$710$485$369
31 years$1,949$1,380$957$652$438$330
32 years$1,867$1,305$893$599$396$295
33 years$1,791$1,236$833$551$359$264
34 years$1,719$1,172$779$507$325$236
35 years$1,652$1,111$728$467$294$211
36 years$1,588$1,055$681$430$267$189
37 years$1,528$1,002$637$396$242$170
38 years$1,472$952$597$365$219$152
39 years$1,418$905$559$337$199$136
40 years$1,367$861$524$310$180$122
41 years$1,319$820$492$286$163$109
42 years$1,273$781$461$264$148$98
43 years$1,230$744$433$244$135$88
44 years$1,188$709$406$225$122$79
45 years$1,149$676$381$208$111$71
46 years$1,111$645$358$192$101$63
47 years$1,075$616$336$178$91$57
48 years$1,041$588$316$164$83$51
49 years$1,008$561$297$152$75$46
50 years$976$536$279$140$69$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,000,000, adding $5,064 every year, while hoping to spend $56,091 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: 37/34/29 Blend
60$1,000,000$1,000,000$1,000,000$1,000,000
61$1,107,224$1,054,224$1,038,724$1,138,445
62$1,160,480$1,046,200$1,013,840$1,154,001
63$1,217,289$1,035,904$986,244$1,165,342
64$1,277,953$1,023,163$955,783$1,176,528
65$1,342,804$1,007,799$922,302$1,187,584
66$1,412,207$989,618$885,637$1,198,541
67$1,486,561$968,418$845,614$1,209,438
68$1,566,304$943,984$802,056$1,220,323
69$1,651,916$916,088$754,774$1,231,255
70$1,743,925$884,490$703,572$1,242,305
71$1,842,909$848,934$648,246$1,253,556
72$1,949,505$809,151$588,581$1,265,107
73$2,064,409$764,854$524,354$1,277,074
74$2,188,390$715,743$455,331$1,289,592
75$2,322,289$661,498$381,268$1,302,818
76$2,467,033$601,782$301,910$1,316,933
77$2,623,638$536,237$216,992$1,332,145
78$2,793,224$464,487$126,236$1,348,693
79$2,977,019$386,133$29,351$1,366,848
80$3,176,377$300,756$0$1,386,922
81$3,392,783$207,909$0$1,432,179
82$3,627,875$107,123$0$1,491,291
83$3,883,449$0$0$1,555,721
84$4,161,487$0$0$1,626,874
85$4,464,165$0$0$1,748,085
86$4,793,880$0$0$1,880,251
87$5,153,269$0$0$2,024,444
88$5,545,233$0$0$2,181,846
89$5,972,967$0$0$2,353,757
90$6,439,986$0$0$2,541,607
91$6,950,162$0$0$2,746,972
92$7,507,754$0$0$2,971,588
93$8,117,454$0$0$3,217,364
94$8,784,426$0$0$3,486,403
95$9,514,358$0$0$3,781,022
96$10,313,511$0$0$4,103,770
97$11,188,782$0$0$4,457,457
98$12,147,764$0$0$4,845,176
99$13,198,821$0$0$5,270,333
100$14,351,163$0$0$5,736,681