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%19.5%
1 years$89,185$88,391$87,616$86,859$86,121$82,835
2 years$44,151$43,329$42,532$41,759$41,010$37,738
3 years$29,142$28,316$27,521$26,756$26,018$22,863
4 years$21,638$20,815$20,028$19,276$18,557$15,543
5 years$17,138$16,319$15,543$14,806$14,106$11,241
6 years$14,138$13,326$12,561$11,840$11,162$8,448
7 years$11,997$11,191$10,438$9,735$9,078$6,513
8 years$10,391$9,593$8,852$8,166$7,531$5,114
9 years$9,143$8,352$7,625$6,956$6,342$4,069
10 years$8,145$7,362$6,647$5,996$5,404$3,271
11 years$7,329$6,554$5,852$5,218$4,647$2,649
12 years$6,650$5,883$5,194$4,577$4,027$2,159
13 years$6,075$5,316$4,640$4,041$3,512$1,768
14 years$5,583$4,832$4,169$3,587$3,078$1,454
15 years$5,157$4,414$3,764$3,199$2,711$1,199
16 years$4,785$4,050$3,413$2,864$2,396$991
17 years$4,457$3,730$3,106$2,574$2,124$821
18 years$4,165$3,447$2,835$2,319$1,889$682
19 years$3,905$3,194$2,595$2,096$1,683$567
20 years$3,671$2,968$2,382$1,898$1,504$471
21 years$3,459$2,765$2,191$1,723$1,346$393
22 years$3,267$2,581$2,019$1,566$1,206$327
23 years$3,092$2,414$1,864$1,426$1,083$273
24 years$2,932$2,262$1,724$1,301$973$228
25 years$2,784$2,122$1,597$1,188$876$190
26 years$2,649$1,995$1,481$1,086$789$159
27 years$2,523$1,877$1,375$994$711$133
28 years$2,407$1,769$1,279$911$642$111
29 years$2,299$1,669$1,190$835$579$93
30 years$2,198$1,576$1,108$767$524$77
31 years$2,104$1,490$1,033$704$473$65
32 years$2,017$1,410$964$647$428$54
33 years$1,934$1,335$900$595$387$45
34 years$1,857$1,265$841$548$351$38
35 years$1,784$1,200$786$504$318$32
36 years$1,715$1,139$736$464$288$27
37 years$1,651$1,082$688$428$261$22
38 years$1,589$1,028$645$394$237$19
39 years$1,531$978$604$364$215$16
40 years$1,477$930$566$335$195$13
41 years$1,424$885$531$309$177$11
42 years$1,375$843$498$285$160$9
43 years$1,328$803$467$264$145$8
44 years$1,283$766$439$243$132$6
45 years$1,241$730$412$225$120$5
46 years$1,200$697$387$208$109$4
47 years$1,161$665$363$192$99$4
48 years$1,124$635$341$177$90$3
49 years$1,088$606$321$164$81$3
50 years$1,054$579$302$151$74$2

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 $2,829 every year, while hoping to spend $31,344 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: 56/29/15 Blend
60$1,080,000$1,080,000$1,080,000$1,080,000
61$1,193,078$1,135,838$1,119,098$1,255,071
62$1,281,422$1,158,144$1,123,238$1,319,787
63$1,377,727$1,180,493$1,126,466$1,386,598
64$1,482,771$1,202,853$1,128,719$1,458,657
65$1,597,412$1,225,192$1,129,929$1,536,473
66$1,722,594$1,247,471$1,130,028$1,620,606
67$1,859,355$1,269,654$1,128,940$1,711,674
68$2,008,838$1,291,696$1,126,588$1,810,358
69$2,172,304$1,313,553$1,122,893$1,917,408
70$2,351,137$1,335,176$1,117,769$2,033,653
71$2,546,866$1,356,512$1,111,127$2,160,005
72$2,761,170$1,377,505$1,102,873$2,297,469
73$2,995,900$1,398,094$1,092,910$2,447,154
74$3,253,096$1,418,214$1,081,137$2,610,283
75$3,535,001$1,437,796$1,067,444$2,788,203
76$3,844,088$1,456,765$1,051,721$2,982,400
77$4,183,081$1,475,042$1,033,849$3,194,513
78$4,554,978$1,492,542$1,013,705$3,426,346
79$4,963,083$1,509,174$991,162$3,679,892
80$5,411,035$1,524,841$966,083$3,957,347
81$5,902,842$1,539,439$938,328$4,261,129
82$6,442,919$1,552,860$907,750$4,593,909
83$7,036,131$1,564,984$874,194$4,958,627
84$7,687,836$1,575,688$837,499$5,358,529
85$8,403,936$1,584,837$797,496$5,797,189
86$9,190,935$1,592,292$754,010$6,278,552
87$10,055,996$1,597,900$706,855$6,806,963
88$11,007,013$1,601,502$655,839$7,387,215
89$12,052,680$1,602,927$600,762$8,024,592
90$13,202,578$1,601,995$541,412$8,724,919
91$14,467,262$1,598,514$477,571$9,494,616
92$15,858,362$1,592,281$409,008$10,340,763
93$17,388,690$1,583,078$335,485$11,271,165
94$19,072,365$1,570,677$256,752$12,294,426
95$20,924,939$1,554,833$172,547$13,420,030
96$22,963,554$1,535,290$82,597$14,658,433
97$25,207,091$1,511,774$0$16,021,162
98$27,676,358$1,483,996$0$17,523,068
99$30,394,283$1,451,647$0$19,190,260
100$33,386,126$1,414,404$0$21,024,996