Can I retire at age 61 with 1,010,000?

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 $1,010,000?

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$83,405$82,662$81,937$81,230$80,539$80,065
2 years$41,290$40,521$39,775$39,053$38,352$37,874
3 years$27,253$26,481$25,737$25,021$24,332$23,864
4 years$20,236$19,466$18,730$18,027$17,354$16,900
5 years$16,027$15,262$14,535$13,846$13,192$12,754
6 years$13,222$12,462$11,747$11,073$10,438$10,017
7 years$11,219$10,466$9,762$9,104$8,489$8,084
8 years$9,717$8,971$8,279$7,637$7,043$6,653
9 years$8,550$7,811$7,130$6,505$5,931$5,558
10 years$7,617$6,885$6,216$5,607$5,053$4,697
11 years$6,854$6,129$5,473$4,880$4,346$4,005
12 years$6,219$5,501$4,857$4,280$3,766$3,441
13 years$5,681$4,972$4,339$3,779$3,284$2,974
14 years$5,221$4,519$3,899$3,355$2,879$2,583
15 years$4,823$4,128$3,520$2,992$2,535$2,254
16 years$4,475$3,788$3,192$2,679$2,240$1,973
17 years$4,168$3,488$2,904$2,407$1,986$1,733
18 years$3,895$3,223$2,651$2,169$1,766$1,526
19 years$3,652$2,987$2,427$1,960$1,574$1,347
20 years$3,433$2,776$2,227$1,775$1,406$1,191
21 years$3,235$2,586$2,049$1,611$1,258$1,055
22 years$3,055$2,414$1,888$1,465$1,128$936
23 years$2,891$2,257$1,743$1,334$1,013$831
24 years$2,742$2,115$1,612$1,217$910$739
25 years$2,604$1,985$1,493$1,111$819$658
26 years$2,477$1,865$1,385$1,016$738$587
27 years$2,360$1,756$1,286$930$665$523
28 years$2,251$1,654$1,196$852$600$467
29 years$2,150$1,561$1,113$781$542$417
30 years$2,056$1,474$1,036$717$490$373
31 years$1,968$1,393$966$659$443$333
32 years$1,886$1,318$901$605$400$298
33 years$1,809$1,248$842$557$362$266
34 years$1,736$1,183$786$512$328$238
35 years$1,668$1,122$735$471$297$214
36 years$1,604$1,065$688$434$269$191
37 years$1,544$1,012$644$400$244$171
38 years$1,486$962$603$369$221$153
39 years$1,432$914$565$340$201$138
40 years$1,381$870$529$314$182$123
41 years$1,332$828$496$289$165$110
42 years$1,286$789$466$267$150$99
43 years$1,242$751$437$246$136$89
44 years$1,200$716$410$228$123$80
45 years$1,160$683$385$210$112$71
46 years$1,122$652$362$194$102$64
47 years$1,086$622$340$179$92$57
48 years$1,051$594$319$166$84$52
49 years$1,018$567$300$153$76$46
50 years$986$541$282$142$69$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,010,000, adding $6,228 every year, while hoping to spend $46,044 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: 47/42/11 Blend
60$1,010,000$1,010,000$1,010,000$1,010,000
61$1,119,444$1,065,914$1,050,259$1,168,360
62$1,184,637$1,069,154$1,036,452$1,205,985
63$1,254,936$1,071,008$1,020,640$1,241,527
64$1,330,814$1,071,362$1,002,706$1,279,059
65$1,412,790$1,070,092$982,529$1,318,783
66$1,501,434$1,067,065$959,983$1,360,920
67$1,597,372$1,062,143$934,934$1,405,720
68$1,701,293$1,055,178$907,244$1,453,459
69$1,813,956$1,046,013$876,768$1,504,443
70$1,936,193$1,034,481$843,353$1,559,014
71$2,068,921$1,020,406$806,841$1,617,550
72$2,213,147$1,003,602$767,066$1,680,472
73$2,369,979$983,870$723,855$1,748,247
74$2,540,638$961,000$677,024$1,821,395
75$2,726,465$934,771$626,387$1,900,491
76$2,928,937$904,947$571,743$1,986,174
77$3,149,678$871,280$512,886$2,079,153
78$3,390,478$833,505$449,601$2,180,213
79$3,653,305$791,345$381,660$2,290,226
80$3,940,325$744,505$308,830$2,410,157
81$4,253,925$692,672$230,862$2,541,078
82$4,596,730$635,517$147,500$2,684,173
83$4,971,632$572,693$58,477$2,840,757
84$5,381,813$503,830$0$3,012,284
85$5,830,781$428,540$0$3,204,654
86$6,322,393$346,411$0$3,422,964
87$6,860,901$257,010$0$3,662,356
88$7,450,987$159,877$0$3,925,051
89$8,097,805$54,528$0$4,213,506
90$8,807,033$0$0$4,530,436
91$9,584,924$0$0$4,906,363
92$10,438,367$0$0$5,346,567
93$11,374,949$0$0$5,829,774
94$12,403,025$0$0$6,360,310
95$13,531,802$0$0$6,942,942
96$14,771,420$0$0$7,582,919
97$16,133,050$0$0$8,286,026
98$17,628,996$0$0$9,058,634
99$19,272,815$0$0$9,907,762
100$21,079,443$0$0$10,841,143