Can I retire at age 61 with 1,130,000?

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 $1,130,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$93,314$92,483$91,672$90,881$90,108$89,278
2 years$46,195$45,335$44,501$43,693$42,908$42,073
3 years$30,491$29,627$28,795$27,994$27,223$26,407
4 years$22,640$21,779$20,955$20,168$19,416$18,625
5 years$17,931$17,075$16,262$15,491$14,759$13,998
6 years$14,793$13,943$13,142$12,388$11,679$10,946
7 years$12,552$11,709$10,921$10,185$9,498$8,795
8 years$10,872$10,037$9,262$8,544$7,879$7,206
9 years$9,566$8,739$7,978$7,278$6,636$5,991
10 years$8,522$7,703$6,955$6,273$5,654$5,038
11 years$7,668$6,858$6,123$5,460$4,862$4,276
12 years$6,957$6,155$5,434$4,789$4,214$3,655
13 years$6,356$5,562$4,855$4,228$3,674$3,143
14 years$5,842$5,056$4,362$3,753$3,221$2,716
15 years$5,396$4,619$3,938$3,347$2,836$2,357
16 years$5,006$4,238$3,571$2,997$2,506$2,052
17 years$4,663$3,903$3,249$2,693$2,222$1,792
18 years$4,358$3,606$2,966$2,427$1,976$1,569
19 years$4,085$3,342$2,715$2,193$1,761$1,377
20 years$3,841$3,106$2,492$1,986$1,573$1,211
21 years$3,619$2,893$2,292$1,802$1,408$1,066
22 years$3,418$2,700$2,113$1,639$1,262$940
23 years$3,235$2,526$1,951$1,492$1,133$830
24 years$3,067$2,366$1,804$1,361$1,018$734
25 years$2,913$2,221$1,671$1,243$916$649
26 years$2,771$2,087$1,550$1,137$825$575
27 years$2,640$1,964$1,439$1,040$744$510
28 years$2,519$1,851$1,338$953$671$452
29 years$2,405$1,746$1,245$874$606$401
30 years$2,300$1,649$1,160$802$548$356
31 years$2,202$1,559$1,081$737$495$316
32 years$2,110$1,475$1,009$677$448$281
33 years$2,024$1,397$942$623$405$250
34 years$1,943$1,324$880$573$367$222
35 years$1,866$1,256$823$527$332$197
36 years$1,795$1,192$770$486$301$176
37 years$1,727$1,132$720$448$273$156
38 years$1,663$1,076$675$413$248$139
39 years$1,602$1,023$632$380$224$124
40 years$1,545$973$592$351$204$110
41 years$1,490$926$555$324$185$98
42 years$1,439$882$521$299$168$87
43 years$1,389$841$489$276$152$78
44 years$1,343$801$459$255$138$69
45 years$1,298$764$431$235$125$62
46 years$1,255$729$405$217$114$55
47 years$1,215$696$380$201$103$49
48 years$1,176$664$357$185$94$44
49 years$1,139$634$336$171$85$39
50 years$1,103$606$316$158$77$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,130,000, adding $6,893 every year, while hoping to spend $53,086 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: 65/22/13 Blend
60$1,130,000$1,130,000$1,130,000$1,130,000
61$1,252,370$1,192,480$1,174,965$1,329,557
62$1,323,629$1,194,429$1,157,843$1,383,927
63$1,400,377$1,194,693$1,138,369$1,436,491
64$1,483,117$1,193,136$1,116,407$1,492,598
65$1,572,405$1,189,609$1,091,816$1,552,591
66$1,668,847$1,183,956$1,064,448$1,616,849
67$1,773,112$1,176,012$1,034,149$1,685,794
68$1,885,934$1,165,602$1,000,758$1,759,889
69$2,008,121$1,152,538$964,105$1,839,647
70$2,140,560$1,136,623$924,014$1,925,634
71$2,284,228$1,117,649$880,299$2,018,477
72$2,440,198$1,095,392$832,768$2,118,867
73$2,609,650$1,069,619$781,218$2,227,570
74$2,793,885$1,040,080$725,439$2,345,429
75$2,994,330$1,006,513$665,210$2,473,379
76$3,212,557$968,638$600,300$2,612,451
77$3,450,297$926,160$530,469$2,763,782
78$3,709,453$878,768$455,466$2,928,632
79$3,992,121$826,131$375,028$3,108,391
80$4,300,607$767,901$288,880$3,304,592
81$4,637,448$703,708$196,738$3,518,930
82$5,005,440$633,162$98,301$3,753,278
83$5,407,660$555,851$0$4,009,702
84$5,847,492$471,339$0$4,291,421
85$6,328,668$379,166$0$4,614,629
86$6,855,293$278,846$0$4,968,506
87$7,431,888$169,864$0$5,356,172
88$8,063,432$51,680$0$5,781,068
89$8,755,409$0$0$6,246,990
90$9,513,857$0$0$6,776,589
91$10,345,427$0$0$7,371,039
92$11,257,443$0$0$8,023,076
93$12,257,973$0$0$8,738,476
94$13,355,905$0$0$9,523,604
95$14,561,025$0$0$10,385,469
96$15,884,116$0$0$11,331,795
97$17,337,055$0$0$12,371,087
98$18,932,926$0$0$13,512,714
99$20,686,142$0$0$14,767,001
100$22,612,581$0$0$16,145,319