Can I retire at age 61 with 1,110,000?

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 $1,110,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$91,663$90,846$90,050$89,272$88,513$87,371
2 years$45,378$44,532$43,713$42,919$42,149$41,000
3 years$29,951$29,102$28,285$27,499$26,741$25,621
4 years$22,240$21,393$20,585$19,811$19,072$17,989
5 years$17,614$16,773$15,974$15,217$14,498$13,456
6 years$14,531$13,696$12,910$12,169$11,472$10,471
7 years$12,330$11,502$10,728$10,005$9,330$8,371
8 years$10,680$9,859$9,098$8,393$7,740$6,824
9 years$9,397$8,584$7,836$7,149$6,518$5,644
10 years$8,371$7,567$6,832$6,162$5,554$4,720
11 years$7,533$6,736$6,015$5,363$4,776$3,983
12 years$6,834$6,046$5,338$4,704$4,139$3,385
13 years$6,244$5,464$4,769$4,153$3,609$2,894
14 years$5,738$4,966$4,285$3,687$3,164$2,486
15 years$5,300$4,537$3,869$3,288$2,786$2,144
16 years$4,918$4,163$3,508$2,944$2,462$1,856
17 years$4,580$3,834$3,192$2,645$2,183$1,610
18 years$4,281$3,542$2,914$2,384$1,941$1,401
19 years$4,013$3,283$2,667$2,154$1,730$1,221
20 years$3,773$3,051$2,448$1,951$1,545$1,067
21 years$3,555$2,842$2,252$1,770$1,383$933
22 years$3,358$2,653$2,075$1,610$1,240$817
23 years$3,178$2,481$1,916$1,466$1,113$717
24 years$3,013$2,324$1,772$1,337$1,000$629
25 years$2,862$2,181$1,641$1,221$900$553
26 years$2,722$2,050$1,522$1,117$811$486
27 years$2,593$1,929$1,414$1,022$731$428
28 years$2,474$1,818$1,314$936$660$376
29 years$2,363$1,715$1,223$859$596$332
30 years$2,259$1,620$1,139$788$538$292
31 years$2,163$1,531$1,062$724$486$258
32 years$2,073$1,449$991$665$440$227
33 years$1,988$1,372$925$612$398$200
34 years$1,908$1,300$864$563$361$177
35 years$1,833$1,233$808$518$327$156
36 years$1,763$1,171$756$477$296$138
37 years$1,696$1,112$708$440$268$122
38 years$1,633$1,057$663$405$243$107
39 years$1,574$1,005$621$374$220$95
40 years$1,518$956$582$345$200$84
41 years$1,464$910$546$318$181$74
42 years$1,413$867$512$293$165$65
43 years$1,365$826$480$271$149$58
44 years$1,319$787$451$250$136$51
45 years$1,275$751$423$231$123$45
46 years$1,233$716$398$213$112$40
47 years$1,193$683$373$197$102$35
48 years$1,155$652$351$182$92$31
49 years$1,119$623$330$168$84$28
50 years$1,084$595$310$156$76$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,110,000, adding $2,091 every year, while hoping to spend $39,695 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: 59/20/21 Blend
60$1,110,000$1,110,000$1,110,000$1,110,000
61$1,225,377$1,166,547$1,149,342$1,290,738
62$1,308,130$1,181,472$1,145,610$1,350,283
63$1,397,994$1,195,799$1,140,422$1,410,693
64$1,495,651$1,209,455$1,133,688$1,475,697
65$1,601,854$1,222,365$1,125,313$1,545,748
66$1,717,430$1,234,448$1,115,198$1,621,345
67$1,843,288$1,245,616$1,103,237$1,703,039
68$1,980,430$1,255,778$1,089,322$1,791,437
69$2,129,958$1,264,835$1,073,339$1,887,212
70$2,293,085$1,272,683$1,055,167$1,991,104
71$2,471,146$1,279,211$1,034,681$2,103,930
72$2,665,610$1,284,300$1,011,750$2,226,593
73$2,878,096$1,287,823$986,237$2,360,089
74$3,110,384$1,289,649$957,998$2,505,516
75$3,364,434$1,289,633$926,883$2,664,087
76$3,642,407$1,287,626$892,734$2,837,140
77$3,946,680$1,283,466$855,387$3,026,152
78$4,279,869$1,276,984$814,671$3,232,752
79$4,644,859$1,268,000$770,406$3,458,737
80$5,044,824$1,256,321$722,404$3,706,091
81$5,483,260$1,241,745$670,468$3,977,003
82$5,964,018$1,224,056$614,395$4,273,886
83$6,491,340$1,203,027$553,969$4,599,404
84$7,069,897$1,178,415$488,967$4,956,495
85$7,704,835$1,149,966$419,156$5,348,402
86$8,401,821$1,117,407$344,290$5,778,698
87$9,167,099$1,080,452$264,116$6,251,329
88$10,007,547$1,038,798$178,368$6,770,644
89$10,930,740$992,123$86,767$7,341,443
90$11,945,026$940,088$0$7,969,017
91$13,059,598$882,332$0$8,661,666
92$14,284,587$818,475$0$9,444,274
93$15,631,151$748,117$0$10,304,549
94$17,111,585$670,831$0$11,250,396
95$18,739,434$586,169$0$12,290,526
96$20,529,621$493,656$0$13,434,542
97$22,498,588$392,791$0$14,693,030
98$24,664,451$283,045$0$16,077,654
99$27,047,168$163,858$0$17,601,275
100$29,668,732$34,639$0$19,278,066