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%18.6%
1 years$83,405$82,662$81,937$81,230$80,539$77,743
2 years$41,290$40,521$39,775$39,053$38,352$35,564
3 years$27,253$26,481$25,737$25,021$24,332$21,640
4 years$20,236$19,466$18,730$18,027$17,354$14,778
5 years$16,027$15,262$14,535$13,846$13,192$10,739
6 years$13,222$12,462$11,747$11,073$10,438$8,110
7 years$11,219$10,466$9,762$9,104$8,489$6,285
8 years$9,717$8,971$8,279$7,637$7,043$4,961
9 years$8,550$7,811$7,130$6,505$5,931$3,970
10 years$7,617$6,885$6,216$5,607$5,053$3,209
11 years$6,854$6,129$5,473$4,880$4,346$2,615
12 years$6,219$5,501$4,857$4,280$3,766$2,144
13 years$5,681$4,972$4,339$3,779$3,284$1,767
14 years$5,221$4,519$3,899$3,355$2,879$1,462
15 years$4,823$4,128$3,520$2,992$2,535$1,213
16 years$4,475$3,788$3,192$2,679$2,240$1,010
17 years$4,168$3,488$2,904$2,407$1,986$842
18 years$3,895$3,223$2,651$2,169$1,766$704
19 years$3,652$2,987$2,427$1,960$1,574$589
20 years$3,433$2,776$2,227$1,775$1,406$493
21 years$3,235$2,586$2,049$1,611$1,258$414
22 years$3,055$2,414$1,888$1,465$1,128$347
23 years$2,891$2,257$1,743$1,334$1,013$292
24 years$2,742$2,115$1,612$1,217$910$245
25 years$2,604$1,985$1,493$1,111$819$206
26 years$2,477$1,865$1,385$1,016$738$173
27 years$2,360$1,756$1,286$930$665$146
28 years$2,251$1,654$1,196$852$600$123
29 years$2,150$1,561$1,113$781$542$103
30 years$2,056$1,474$1,036$717$490$87
31 years$1,968$1,393$966$659$443$73
32 years$1,886$1,318$901$605$400$62
33 years$1,809$1,248$842$557$362$52
34 years$1,736$1,183$786$512$328$44
35 years$1,668$1,122$735$471$297$37
36 years$1,604$1,065$688$434$269$31
37 years$1,544$1,012$644$400$244$26
38 years$1,486$962$603$369$221$22
39 years$1,432$914$565$340$201$19
40 years$1,381$870$529$314$182$16
41 years$1,332$828$496$289$165$13
42 years$1,286$789$466$267$150$11
43 years$1,242$751$437$246$136$9
44 years$1,200$716$410$228$123$8
45 years$1,160$683$385$210$112$7
46 years$1,122$652$362$194$102$6
47 years$1,086$622$340$179$92$5
48 years$1,051$594$319$166$84$4
49 years$1,018$567$300$153$76$3
50 years$986$541$282$142$69$3

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 $2,536 every year, while hoping to spend $36,393 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: 31/40/29 Blend
60$1,010,000$1,010,000$1,010,000$1,010,000
61$1,115,636$1,062,106$1,046,451$1,140,261
62$1,190,709$1,075,427$1,042,785$1,172,917
63$1,272,220$1,088,182$1,037,777$1,204,688
64$1,360,786$1,100,303$1,031,343$1,238,178
65$1,457,089$1,111,720$1,023,395$1,273,565
66$1,561,876$1,122,358$1,013,842$1,311,044
67$1,675,970$1,132,136$1,002,589$1,350,836
68$1,800,277$1,140,970$989,534$1,393,182
69$1,935,795$1,148,767$974,573$1,438,355
70$2,083,620$1,155,430$957,595$1,486,654
71$2,244,960$1,160,857$938,485$1,538,416
72$2,421,144$1,164,937$917,123$1,594,012
73$2,613,636$1,167,554$893,381$1,653,855
74$2,824,046$1,168,583$867,129$1,718,403
75$3,054,148$1,167,893$838,228$1,788,167
76$3,305,896$1,165,344$806,532$1,863,711
77$3,581,438$1,160,788$771,892$1,945,662
78$3,883,144$1,154,065$734,150$2,034,717
79$4,213,620$1,145,010$693,139$2,131,645
80$4,575,738$1,133,444$648,689$2,237,302
81$4,972,661$1,119,181$600,617$2,352,636
82$5,407,871$1,102,019$548,736$2,478,696
83$5,885,204$1,081,748$492,849$2,616,645
84$6,408,886$1,058,145$432,751$2,767,772
85$6,983,571$1,030,972$368,226$2,933,501
86$7,614,383$999,979$299,050$3,115,413
87$8,306,972$964,899$224,990$3,315,255
88$9,067,555$925,451$145,799$3,534,961
89$9,902,987$881,339$61,224$3,776,669
90$10,820,814$832,247$0$4,042,748
91$11,829,353$777,843$0$4,344,799
92$12,937,765$717,775$0$4,697,534
93$14,156,142$651,671$0$5,085,280
94$15,495,603$579,138$0$5,511,670
95$16,968,398$499,760$0$5,980,714
96$18,588,025$413,098$0$6,496,836
97$20,369,352$318,688$0$7,064,923
98$22,328,763$216,041$0$7,690,364
99$24,484,308$104,639$0$8,379,108
100$26,855,877$0$0$9,137,718