Can I retire at age 61 with 1,080,000?

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 $1,080,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$89,185$88,391$87,616$86,859$86,121$84,486
2 years$44,151$43,329$42,532$41,759$41,010$39,369
3 years$29,142$28,316$27,521$26,756$26,018$24,423
4 years$21,638$20,815$20,028$19,276$18,557$17,018
5 years$17,138$16,319$15,543$14,806$14,106$12,630
6 years$14,138$13,326$12,561$11,840$11,162$9,749
7 years$11,997$11,191$10,438$9,735$9,078$7,729
8 years$10,391$9,593$8,852$8,166$7,531$6,246
9 years$9,143$8,352$7,625$6,956$6,342$5,120
10 years$8,145$7,362$6,647$5,996$5,404$4,243
11 years$7,329$6,554$5,852$5,218$4,647$3,547
12 years$6,650$5,883$5,194$4,577$4,027$2,986
13 years$6,075$5,316$4,640$4,041$3,512$2,527
14 years$5,583$4,832$4,169$3,587$3,078$2,149
15 years$5,157$4,414$3,764$3,199$2,711$1,835
16 years$4,785$4,050$3,413$2,864$2,396$1,571
17 years$4,457$3,730$3,106$2,574$2,124$1,349
18 years$4,165$3,447$2,835$2,319$1,889$1,161
19 years$3,905$3,194$2,595$2,096$1,683$1,001
20 years$3,671$2,968$2,382$1,898$1,504$865
21 years$3,459$2,765$2,191$1,723$1,346$748
22 years$3,267$2,581$2,019$1,566$1,206$648
23 years$3,092$2,414$1,864$1,426$1,083$561
24 years$2,932$2,262$1,724$1,301$973$487
25 years$2,784$2,122$1,597$1,188$876$423
26 years$2,649$1,995$1,481$1,086$789$367
27 years$2,523$1,877$1,375$994$711$319
28 years$2,407$1,769$1,279$911$642$278
29 years$2,299$1,669$1,190$835$579$242
30 years$2,198$1,576$1,108$767$524$210
31 years$2,104$1,490$1,033$704$473$183
32 years$2,017$1,410$964$647$428$160
33 years$1,934$1,335$900$595$387$139
34 years$1,857$1,265$841$548$351$121
35 years$1,784$1,200$786$504$318$106
36 years$1,715$1,139$736$464$288$92
37 years$1,651$1,082$688$428$261$80
38 years$1,589$1,028$645$394$237$70
39 years$1,531$978$604$364$215$61
40 years$1,477$930$566$335$195$53
41 years$1,424$885$531$309$177$46
42 years$1,375$843$498$285$160$40
43 years$1,328$803$467$264$145$35
44 years$1,283$766$439$243$132$31
45 years$1,241$730$412$225$120$27
46 years$1,200$697$387$208$109$23
47 years$1,161$665$363$192$99$20
48 years$1,124$635$341$177$90$18
49 years$1,088$606$321$164$81$16
50 years$1,054$579$302$151$74$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,080,000, adding $2,256 every year, while hoping to spend $40,728 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: 65/14/21 Blend
60$1,080,000$1,080,000$1,080,000$1,080,000
61$1,192,487$1,135,247$1,118,507$1,263,469
62$1,270,786$1,147,540$1,112,643$1,323,750
63$1,355,707$1,159,070$1,105,217$1,384,770
64$1,447,882$1,169,757$1,096,134$1,450,506
65$1,548,006$1,179,516$1,085,295$1,521,422
66$1,656,845$1,188,254$1,072,595$1,598,030
67$1,775,240$1,195,875$1,057,924$1,680,895
68$1,904,118$1,202,276$1,041,167$1,770,641
69$2,044,496$1,207,346$1,022,205$1,867,956
70$2,197,498$1,210,969$1,000,911$1,973,597
71$2,364,355$1,213,019$977,155$2,088,403
72$2,546,428$1,213,366$950,798$2,213,297
73$2,745,211$1,211,868$921,697$2,349,298
74$2,962,350$1,208,377$889,701$2,497,532
75$3,199,657$1,202,734$854,653$2,659,238
76$3,459,126$1,194,772$816,388$2,835,785
77$3,742,953$1,184,313$774,733$3,028,683
78$4,053,557$1,171,167$729,510$3,239,598
79$4,393,601$1,155,135$680,530$3,470,366
80$4,766,017$1,136,005$627,596$3,723,015
81$5,174,033$1,113,552$570,503$3,999,780
82$5,621,207$1,087,538$509,037$4,303,127
83$6,111,454$1,057,711$442,973$4,635,776
84$6,649,088$1,023,805$372,079$5,000,727
85$7,238,860$985,536$296,108$5,401,289
86$7,886,003$942,607$214,807$5,841,111
87$8,596,281$894,701$127,909$6,324,218
88$9,376,043$841,483$35,136$6,855,049
89$10,232,284$782,600$0$7,438,499
90$11,172,708$717,679$0$8,094,278
91$12,205,803$646,323$0$8,823,359
92$13,340,917$568,115$0$9,624,497
93$14,588,352$482,614$0$10,505,004
94$15,959,455$389,354$0$11,472,941
95$17,466,728$287,841$0$12,537,188
96$19,123,945$177,555$0$13,707,536
97$20,946,279$57,947$0$14,994,772
98$22,950,449$0$0$16,410,786
99$25,154,876$0$0$17,979,707
100$27,579,854$0$0$19,715,499