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%12.6%
1 years$91,663$90,846$90,050$89,272$88,513$87,552
2 years$45,378$44,532$43,713$42,919$42,149$41,182
3 years$29,951$29,102$28,285$27,499$26,741$25,797
4 years$22,240$21,393$20,585$19,811$19,072$18,159
5 years$17,614$16,773$15,974$15,217$14,498$13,618
6 years$14,531$13,696$12,910$12,169$11,472$10,626
7 years$12,330$11,502$10,728$10,005$9,330$8,519
8 years$10,680$9,859$9,098$8,393$7,740$6,964
9 years$9,397$8,584$7,836$7,149$6,518$5,777
10 years$8,371$7,567$6,832$6,162$5,554$4,846
11 years$7,533$6,736$6,015$5,363$4,776$4,102
12 years$6,834$6,046$5,338$4,704$4,139$3,498
13 years$6,244$5,464$4,769$4,153$3,609$3,000
14 years$5,738$4,966$4,285$3,687$3,164$2,586
15 years$5,300$4,537$3,869$3,288$2,786$2,238
16 years$4,918$4,163$3,508$2,944$2,462$1,943
17 years$4,580$3,834$3,192$2,645$2,183$1,692
18 years$4,281$3,542$2,914$2,384$1,941$1,478
19 years$4,013$3,283$2,667$2,154$1,730$1,293
20 years$3,773$3,051$2,448$1,951$1,545$1,133
21 years$3,555$2,842$2,252$1,770$1,383$995
22 years$3,358$2,653$2,075$1,610$1,240$875
23 years$3,178$2,481$1,916$1,466$1,113$770
24 years$3,013$2,324$1,772$1,337$1,000$679
25 years$2,862$2,181$1,641$1,221$900$599
26 years$2,722$2,050$1,522$1,117$811$528
27 years$2,593$1,929$1,414$1,022$731$467
28 years$2,474$1,818$1,314$936$660$413
29 years$2,363$1,715$1,223$859$596$365
30 years$2,259$1,620$1,139$788$538$323
31 years$2,163$1,531$1,062$724$486$286
32 years$2,073$1,449$991$665$440$253
33 years$1,988$1,372$925$612$398$224
34 years$1,908$1,300$864$563$361$199
35 years$1,833$1,233$808$518$327$176
36 years$1,763$1,171$756$477$296$156
37 years$1,696$1,112$708$440$268$138
38 years$1,633$1,057$663$405$243$123
39 years$1,574$1,005$621$374$220$109
40 years$1,518$956$582$345$200$97
41 years$1,464$910$546$318$181$86
42 years$1,413$867$512$293$165$76
43 years$1,365$826$480$271$149$67
44 years$1,319$787$451$250$136$60
45 years$1,275$751$423$231$123$53
46 years$1,233$716$398$213$112$47
47 years$1,193$683$373$197$102$42
48 years$1,155$652$351$182$92$37
49 years$1,119$623$330$168$84$33
50 years$1,084$595$310$156$76$29

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 $2,128 every year, while hoping to spend $24,211 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: 35/44/21 Blend
60$1,110,000$1,110,000$1,110,000$1,110,000
61$1,225,415$1,166,585$1,149,380$1,260,406
62$1,324,647$1,197,987$1,162,124$1,317,737
63$1,433,189$1,230,117$1,174,483$1,377,166
64$1,551,966$1,262,984$1,186,420$1,440,793
65$1,681,994$1,296,598$1,197,893$1,509,005
66$1,824,395$1,330,969$1,208,859$1,582,231
67$1,980,402$1,366,105$1,219,275$1,660,940
68$2,151,374$1,402,015$1,229,092$1,745,650
69$2,338,808$1,438,707$1,238,260$1,836,931
70$2,544,351$1,476,189$1,246,727$1,935,412
71$2,769,821$1,514,468$1,254,438$2,041,784
72$3,017,215$1,553,550$1,261,334$2,156,809
73$3,288,738$1,593,440$1,267,355$2,281,325
74$3,586,814$1,634,144$1,272,437$2,416,256
75$3,914,116$1,675,664$1,276,511$2,562,621
76$4,273,590$1,718,005$1,279,507$2,721,541
77$4,668,476$1,761,168$1,281,351$2,894,251
78$5,102,349$1,805,154$1,281,965$3,082,115
79$5,579,145$1,849,962$1,281,266$3,286,630
80$6,103,198$1,895,591$1,279,170$3,509,452
81$6,679,287$1,942,038$1,275,585$3,752,400
82$7,312,674$1,989,297$1,270,417$4,017,483
83$8,009,158$2,037,364$1,263,567$4,306,913
84$8,775,127$2,086,230$1,254,931$4,623,127
85$9,617,619$2,135,884$1,244,401$4,968,813
86$10,544,390$2,186,316$1,231,861$5,346,931
87$11,563,983$2,237,511$1,217,194$5,760,744
88$12,685,812$2,289,452$1,200,273$6,213,848
89$13,920,251$2,342,121$1,180,968$6,710,208
90$15,278,728$2,395,496$1,159,142$7,254,192
91$16,773,836$2,449,552$1,134,650$7,850,614
92$18,419,449$2,504,263$1,107,344$8,504,781
93$20,230,859$2,559,597$1,077,065$9,222,543
94$22,224,909$2,615,521$1,043,650$10,010,344
95$24,420,163$2,671,995$1,006,926$10,875,290
96$26,837,076$2,728,978$966,713$11,825,212
97$29,498,184$2,786,424$922,824$12,868,741
98$32,428,322$2,844,283$875,063$14,015,389
99$35,654,857$2,902,498$823,223$15,275,641
100$39,207,941$2,961,010$767,090$16,661,054