Can I retire at age 61 with 1,140,000?

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 $1,140,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$94,140$93,302$92,483$91,685$90,905$89,362
2 years$46,604$45,736$44,895$44,079$43,288$41,739
3 years$30,761$29,889$29,050$28,242$27,464$25,956
4 years$22,841$21,972$21,141$20,347$19,587$18,132
5 years$18,090$17,226$16,406$15,628$14,890$13,492
6 years$14,924$14,066$13,259$12,498$11,782$10,443
7 years$12,663$11,813$11,018$10,275$9,582$8,302
8 years$10,968$10,126$9,344$8,620$7,949$6,728
9 years$9,651$8,816$8,048$7,342$6,694$5,532
10 years$8,597$7,771$7,017$6,329$5,704$4,599
11 years$7,736$6,918$6,177$5,508$4,906$3,857
12 years$7,019$6,209$5,482$4,831$4,251$3,257
13 years$6,413$5,612$4,898$4,265$3,707$2,766
14 years$5,893$5,101$4,401$3,786$3,250$2,360
15 years$5,444$4,660$3,973$3,377$2,861$2,022
16 years$5,051$4,275$3,602$3,023$2,529$1,737
17 years$4,704$3,937$3,278$2,717$2,242$1,497
18 years$4,397$3,638$2,992$2,448$1,994$1,293
19 years$4,122$3,372$2,739$2,212$1,777$1,119
20 years$3,874$3,133$2,514$2,004$1,587$970
21 years$3,651$2,918$2,313$1,818$1,420$842
22 years$3,448$2,724$2,131$1,653$1,273$732
23 years$3,264$2,548$1,968$1,506$1,143$637
24 years$3,094$2,387$1,820$1,373$1,027$555
25 years$2,939$2,240$1,686$1,254$924$484
26 years$2,796$2,106$1,563$1,147$833$422
27 years$2,664$1,982$1,452$1,050$751$368
28 years$2,541$1,867$1,350$962$677$322
29 years$2,427$1,762$1,256$882$612$281
30 years$2,321$1,664$1,170$809$553$246
31 years$2,221$1,573$1,091$743$500$215
32 years$2,129$1,488$1,018$683$452$188
33 years$2,042$1,409$950$628$409$164
34 years$1,960$1,336$888$578$370$144
35 years$1,883$1,267$830$532$335$126
36 years$1,811$1,202$776$490$304$110
37 years$1,742$1,142$727$451$275$96
38 years$1,678$1,085$681$416$250$84
39 years$1,616$1,032$638$384$226$74
40 years$1,559$982$598$354$205$65
41 years$1,504$935$560$327$186$57
42 years$1,451$890$526$301$169$50
43 years$1,402$848$493$278$153$44
44 years$1,354$808$463$257$139$38
45 years$1,309$771$435$237$126$33
46 years$1,267$735$408$219$115$29
47 years$1,226$702$384$202$104$26
48 years$1,186$670$360$187$95$22
49 years$1,149$640$339$173$86$20
50 years$1,113$611$319$160$78$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,140,000, adding $6,164 every year, while hoping to spend $40,197 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: 70/7/23 Blend
60$1,140,000$1,140,000$1,140,000$1,140,000
61$1,262,638$1,202,218$1,184,548$1,343,326
62$1,348,658$1,218,358$1,181,461$1,414,188
63$1,442,105$1,233,941$1,176,924$1,486,449
64$1,543,693$1,248,897$1,170,844$1,564,583
65$1,654,210$1,263,154$1,163,128$1,649,167
66$1,774,521$1,276,630$1,153,675$1,740,839
67$1,905,579$1,289,242$1,142,379$1,840,304
68$2,048,431$1,300,898$1,129,132$1,948,337
69$2,204,232$1,311,502$1,113,819$2,065,794
70$2,374,250$1,320,953$1,096,318$2,193,619
71$2,559,884$1,329,139$1,076,505$2,332,850
72$2,762,671$1,335,946$1,054,247$2,484,636
73$2,984,306$1,341,250$1,029,406$2,650,242
74$3,226,652$1,344,918$1,001,839$2,831,060
75$3,491,763$1,346,811$971,392$3,028,630
76$3,781,898$1,346,781$937,910$3,244,646
77$4,099,548$1,344,669$901,227$3,480,978
78$4,447,453$1,340,309$861,169$3,739,687
79$4,828,632$1,333,523$817,556$4,023,045
80$5,246,408$1,324,121$770,200$4,333,559
81$5,704,443$1,311,904$718,903$4,673,990
82$6,206,769$1,296,660$663,459$5,047,386
83$6,757,826$1,278,164$603,652$5,457,105
84$7,362,508$1,256,177$539,258$5,906,848
85$8,026,202$1,230,448$470,041$6,400,699
86$8,754,843$1,200,709$395,756$6,943,158
87$9,554,970$1,166,676$316,146$7,539,187
88$10,433,784$1,128,051$230,945$8,194,257
89$11,399,220$1,084,515$139,871$8,914,398
90$12,460,018$1,035,734$42,634$9,706,258
91$13,625,807$981,351$0$10,577,168
92$14,907,194$920,993$0$11,550,211
93$16,315,867$854,260$0$12,631,431
94$17,864,701$780,735$0$13,820,255
95$19,567,881$699,972$0$15,127,594
96$21,441,037$611,502$0$16,565,469
97$23,501,387$514,830$0$18,147,124
98$25,767,904$409,432$0$19,887,157
99$28,261,492$294,755$0$21,801,651
100$31,005,180$170,215$0$23,908,329