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%13.9%
1 years$89,185$88,391$87,616$86,859$86,121$84,729
2 years$44,151$43,329$42,532$41,759$41,010$39,611
3 years$29,142$28,316$27,521$26,756$26,018$24,657
4 years$21,638$20,815$20,028$19,276$18,557$17,242
5 years$17,138$16,319$15,543$14,806$14,106$12,844
6 years$14,138$13,326$12,561$11,840$11,162$9,952
7 years$11,997$11,191$10,438$9,735$9,078$7,920
8 years$10,391$9,593$8,852$8,166$7,531$6,426
9 years$9,143$8,352$7,625$6,956$6,342$5,290
10 years$8,145$7,362$6,647$5,996$5,404$4,403
11 years$7,329$6,554$5,852$5,218$4,647$3,697
12 years$6,650$5,883$5,194$4,577$4,027$3,126
13 years$6,075$5,316$4,640$4,041$3,512$2,658
14 years$5,583$4,832$4,169$3,587$3,078$2,271
15 years$5,157$4,414$3,764$3,199$2,711$1,948
16 years$4,785$4,050$3,413$2,864$2,396$1,677
17 years$4,457$3,730$3,106$2,574$2,124$1,447
18 years$4,165$3,447$2,835$2,319$1,889$1,252
19 years$3,905$3,194$2,595$2,096$1,683$1,085
20 years$3,671$2,968$2,382$1,898$1,504$942
21 years$3,459$2,765$2,191$1,723$1,346$819
22 years$3,267$2,581$2,019$1,566$1,206$713
23 years$3,092$2,414$1,864$1,426$1,083$621
24 years$2,932$2,262$1,724$1,301$973$542
25 years$2,784$2,122$1,597$1,188$876$473
26 years$2,649$1,995$1,481$1,086$789$413
27 years$2,523$1,877$1,375$994$711$361
28 years$2,407$1,769$1,279$911$642$316
29 years$2,299$1,669$1,190$835$579$277
30 years$2,198$1,576$1,108$767$524$242
31 years$2,104$1,490$1,033$704$473$212
32 years$2,017$1,410$964$647$428$186
33 years$1,934$1,335$900$595$387$163
34 years$1,857$1,265$841$548$351$143
35 years$1,784$1,200$786$504$318$125
36 years$1,715$1,139$736$464$288$110
37 years$1,651$1,082$688$428$261$96
38 years$1,589$1,028$645$394$237$84
39 years$1,531$978$604$364$215$74
40 years$1,477$930$566$335$195$65
41 years$1,424$885$531$309$177$57
42 years$1,375$843$498$285$160$50
43 years$1,328$803$467$264$145$44
44 years$1,283$766$439$243$132$38
45 years$1,241$730$412$225$120$34
46 years$1,200$697$387$208$109$30
47 years$1,161$665$363$192$99$26
48 years$1,124$635$341$177$90$23
49 years$1,088$606$321$164$81$20
50 years$1,054$579$302$151$74$18

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 $3,128 every year, while hoping to spend $36,980 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: 84/9/7 Blend
60$1,080,000$1,080,000$1,080,000$1,080,000
61$1,193,387$1,136,147$1,119,407$1,292,643
62$1,275,766$1,152,471$1,117,560$1,374,242
63$1,365,308$1,168,357$1,114,413$1,458,516
64$1,462,705$1,183,742$1,109,881$1,549,918
65$1,568,718$1,198,562$1,103,879$1,649,139
66$1,684,184$1,212,748$1,096,316$1,756,941
67$1,810,024$1,226,227$1,087,096$1,874,164
68$1,947,253$1,238,918$1,076,120$2,001,732
69$2,096,986$1,250,738$1,063,283$2,140,662
70$2,260,452$1,261,598$1,048,477$2,292,076
71$2,439,003$1,271,401$1,031,586$2,457,207
72$2,634,128$1,280,046$1,012,490$2,637,417
73$2,847,465$1,287,425$991,065$2,834,202
74$3,080,820$1,293,422$967,179$3,049,213
75$3,336,178$1,297,915$940,695$3,284,267
76$3,615,729$1,300,773$911,468$3,541,368
77$3,921,880$1,301,857$879,349$3,822,722
78$4,257,285$1,301,021$844,180$4,130,759
79$4,624,865$1,298,109$805,798$4,468,157
80$5,027,839$1,292,954$764,029$4,837,867
81$5,469,750$1,285,380$718,696$5,243,141
82$5,954,502$1,275,201$669,609$5,687,560
83$6,486,393$1,262,218$616,574$6,175,072
84$7,070,161$1,246,222$559,384$6,710,027
85$7,711,021$1,226,990$497,827$7,297,215
86$8,414,719$1,204,287$431,678$7,941,919
87$9,187,585$1,177,862$360,704$8,649,958
88$10,036,592$1,147,451$284,662$9,427,743
89$10,969,422$1,112,774$203,296$10,282,342
90$11,994,538$1,073,534$116,340$11,221,540
91$13,121,261$1,029,418$23,519$12,253,918
92$14,359,864$980,093$0$13,388,932
93$15,721,662$925,209$0$14,642,644
94$17,219,121$864,394$0$16,023,136
95$18,865,977$797,256$0$17,541,326
96$20,677,364$723,378$0$19,211,185
97$22,669,954$642,323$0$21,048,105
98$24,862,119$553,626$0$23,069,049
99$27,274,099$456,798$0$25,292,705
100$29,928,197$351,321$0$27,739,670