Can I retire at age 61 with 1,120,000?

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 $1,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$92,489$91,665$90,861$90,076$89,310$88,599
2 years$45,786$44,934$44,107$43,306$42,529$41,812
3 years$30,221$29,365$28,540$27,747$26,982$26,281
4 years$22,440$21,586$20,770$19,990$19,244$18,565
5 years$17,772$16,924$16,118$15,354$14,629$13,974
6 years$14,662$13,820$13,026$12,279$11,575$10,945
7 years$12,441$11,606$10,825$10,095$9,414$8,809
8 years$10,776$9,948$9,180$8,469$7,810$7,230
9 years$9,482$8,662$7,907$7,213$6,577$6,022
10 years$8,447$7,635$6,893$6,218$5,604$5,073
11 years$7,601$6,797$6,069$5,411$4,819$4,313
12 years$6,896$6,100$5,386$4,747$4,176$3,694
13 years$6,300$5,513$4,812$4,191$3,642$3,182
14 years$5,790$5,011$4,324$3,720$3,193$2,755
15 years$5,348$4,578$3,904$3,317$2,811$2,396
16 years$4,962$4,200$3,539$2,970$2,484$2,091
17 years$4,622$3,868$3,221$2,669$2,203$1,830
18 years$4,319$3,574$2,940$2,405$1,959$1,605
19 years$4,049$3,313$2,691$2,173$1,746$1,412
20 years$3,807$3,078$2,470$1,968$1,559$1,244
21 years$3,587$2,867$2,272$1,786$1,395$1,098
22 years$3,388$2,677$2,094$1,624$1,251$970
23 years$3,206$2,503$1,933$1,479$1,123$859
24 years$3,040$2,345$1,788$1,349$1,009$761
25 years$2,888$2,201$1,656$1,232$908$675
26 years$2,747$2,069$1,536$1,127$818$599
27 years$2,617$1,947$1,426$1,031$737$532
28 years$2,496$1,834$1,326$945$665$473
29 years$2,384$1,731$1,234$866$601$421
30 years$2,280$1,634$1,149$795$543$374
31 years$2,182$1,545$1,071$730$491$333
32 years$2,091$1,462$1,000$671$444$297
33 years$2,006$1,384$933$617$402$264
34 years$1,925$1,312$872$568$364$236
35 years$1,850$1,245$815$523$330$210
36 years$1,779$1,181$763$481$299$187
37 years$1,712$1,122$714$444$271$167
38 years$1,648$1,066$669$409$245$149
39 years$1,588$1,014$626$377$222$133
40 years$1,531$965$587$348$202$119
41 years$1,477$918$551$321$183$106
42 years$1,426$874$516$296$166$95
43 years$1,377$833$485$273$151$84
44 years$1,331$794$455$252$137$75
45 years$1,286$757$427$233$124$67
46 years$1,244$723$401$215$113$60
47 years$1,204$689$377$199$102$54
48 years$1,166$658$354$184$93$48
49 years$1,129$629$333$170$84$43
50 years$1,094$600$313$157$77$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,120,000, adding $3,981 every year, while hoping to spend $46,153 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: 63/12/25 Blend
60$1,120,000$1,120,000$1,120,000$1,120,000
61$1,238,346$1,178,986$1,161,626$1,307,958
62$1,315,551$1,187,650$1,151,434$1,364,194
63$1,399,084$1,195,192$1,139,354$1,420,137
64$1,489,542$1,201,507$1,125,274$1,480,220
65$1,587,581$1,206,487$1,109,076$1,544,855
66$1,693,921$1,210,012$1,090,637$1,614,496
67$1,809,358$1,211,959$1,069,830$1,689,646
68$1,934,762$1,212,195$1,046,520$1,770,858
69$2,071,095$1,210,580$1,020,565$1,858,745
70$2,219,412$1,206,963$991,819$1,953,984
71$2,380,874$1,201,187$960,127$2,057,321
72$2,556,761$1,193,083$925,329$2,169,582
73$2,748,479$1,182,472$887,256$2,291,677
74$2,957,577$1,169,166$845,732$2,424,612
75$3,185,758$1,152,963$800,572$2,569,497
76$3,434,898$1,133,652$751,584$2,727,559
77$3,707,063$1,111,006$698,568$2,900,151
78$4,004,526$1,084,787$641,312$3,088,767
79$4,329,789$1,054,744$579,598$3,295,056
80$4,685,608$1,020,607$513,195$3,520,839
81$5,075,018$982,094$441,864$3,768,125
82$5,501,359$938,906$365,356$4,039,131
83$5,968,310$890,725$283,408$4,336,304
84$6,479,924$837,216$195,748$4,662,345
85$7,040,661$778,025$102,091$5,020,233
86$7,655,437$712,777$2,140$5,413,257
87$8,329,664$641,075$0$5,845,045
88$9,069,304$562,502$0$6,347,481
89$9,880,922$476,614$0$6,899,520
90$10,771,752$382,943$0$7,505,553
91$11,749,760$280,997$0$8,171,049
92$12,823,722$170,252$0$8,902,034
93$14,003,306$50,159$0$9,705,149
94$15,299,162$0$0$10,587,715
95$16,723,023$0$0$11,568,345
96$18,287,812$0$0$12,653,400
97$20,007,770$0$0$13,846,140
98$21,898,583$0$0$15,157,456
99$23,977,535$0$0$16,599,345
100$26,263,667$0$0$18,185,025