Can I retire at age 61 with 1,160,000?

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 $1,160,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$95,792$94,938$94,106$93,293$92,500$90,337
2 years$47,422$46,538$45,683$44,853$44,048$41,881
3 years$31,300$30,413$29,560$28,738$27,946$25,843
4 years$23,241$22,357$21,512$20,704$19,931$17,908
5 years$18,407$17,528$16,694$15,902$15,151$13,214
6 years$15,185$14,313$13,491$12,717$11,989$10,139
7 years$12,885$12,020$11,211$10,456$9,750$7,988
8 years$11,161$10,303$9,508$8,771$8,089$6,414
9 years$9,820$8,971$8,189$7,471$6,812$5,223
10 years$8,748$7,908$7,140$6,440$5,804$4,300
11 years$7,872$7,040$6,286$5,605$4,992$3,569
12 years$7,142$6,318$5,578$4,916$4,326$2,983
13 years$6,525$5,710$4,984$4,340$3,772$2,507
14 years$5,997$5,190$4,478$3,853$3,307$2,116
15 years$5,539$4,741$4,043$3,436$2,911$1,792
16 years$5,139$4,350$3,666$3,077$2,573$1,523
17 years$4,787$4,006$3,336$2,764$2,281$1,298
18 years$4,474$3,702$3,045$2,491$2,029$1,108
19 years$4,194$3,431$2,788$2,251$1,808$947
20 years$3,942$3,188$2,558$2,039$1,615$811
21 years$3,715$2,970$2,353$1,850$1,445$696
22 years$3,509$2,772$2,169$1,682$1,295$598
23 years$3,321$2,593$2,002$1,532$1,163$514
24 years$3,149$2,429$1,852$1,397$1,045$442
25 years$2,991$2,280$1,715$1,276$941$380
26 years$2,845$2,143$1,591$1,167$847$327
27 years$2,710$2,016$1,477$1,068$764$282
28 years$2,585$1,900$1,373$979$689$243
29 years$2,469$1,792$1,278$897$622$210
30 years$2,361$1,693$1,190$824$562$181
31 years$2,260$1,600$1,110$756$508$156
32 years$2,166$1,514$1,035$695$460$135
33 years$2,077$1,434$967$639$416$116
34 years$1,994$1,359$903$588$377$100
35 years$1,916$1,289$844$541$341$87
36 years$1,842$1,223$790$499$309$75
37 years$1,773$1,162$739$459$280$65
38 years$1,707$1,104$692$423$254$56
39 years$1,645$1,050$649$390$230$48
40 years$1,586$999$608$360$209$42
41 years$1,530$951$570$332$190$36
42 years$1,477$906$535$307$172$31
43 years$1,426$863$502$283$156$27
44 years$1,378$823$471$261$142$23
45 years$1,332$784$442$241$129$20
46 years$1,289$748$415$223$117$17
47 years$1,247$714$390$206$106$15
48 years$1,207$682$367$190$96$13
49 years$1,169$651$345$176$87$11
50 years$1,133$622$324$163$79$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,160,000, adding $4,968 every year, while hoping to spend $41,084 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: 37/46/17 Blend
60$1,160,000$1,160,000$1,160,000$1,160,000
61$1,283,444$1,221,964$1,203,984$1,324,154
62$1,370,643$1,238,128$1,200,605$1,370,136
63$1,465,358$1,253,706$1,195,735$1,415,508
64$1,568,315$1,268,627$1,189,282$1,463,647
65$1,680,307$1,282,814$1,181,147$1,514,825
66$1,802,212$1,296,186$1,171,229$1,569,339
67$1,934,992$1,308,653$1,159,420$1,627,523
68$2,079,708$1,320,124$1,145,607$1,689,744
69$2,237,526$1,330,498$1,129,673$1,756,408
70$2,409,731$1,339,670$1,111,494$1,827,968
71$2,597,736$1,347,526$1,090,942$1,904,921
72$2,803,097$1,353,947$1,067,880$1,987,822
73$3,027,527$1,358,805$1,042,169$2,077,282
74$3,272,913$1,361,964$1,013,659$2,173,979
75$3,541,330$1,363,280$982,197$2,278,662
76$3,835,065$1,362,600$947,619$2,392,162
77$4,156,635$1,359,761$909,758$2,515,397
78$4,508,812$1,354,590$868,436$2,649,384
79$4,894,650$1,346,904$823,468$2,795,245
80$5,317,511$1,336,509$774,660$2,954,225
81$5,781,097$1,323,197$721,811$3,127,698
82$6,289,487$1,306,752$664,710$3,317,184
83$6,847,172$1,286,940$603,135$3,524,365
84$7,459,100$1,263,516$536,856$3,751,099
85$8,130,720$1,236,221$465,633$3,999,441
86$8,868,035$1,204,778$389,214$4,271,660
87$9,677,658$1,168,895$307,336$4,570,267
88$10,566,873$1,128,265$219,725$4,898,034
89$11,543,703$1,082,559$126,095$5,258,025
90$12,616,990$1,031,433$26,148$5,653,626
91$13,796,469$974,520$0$6,088,575
92$15,092,871$911,433$0$6,581,609
93$16,518,015$841,764$0$7,128,696
94$18,084,922$765,080$0$7,730,189
95$19,807,938$680,924$0$8,391,715
96$21,702,871$588,812$0$9,119,486
97$23,787,134$488,234$0$9,920,357
98$26,079,915$378,650$0$10,801,890
99$28,602,354$259,492$0$11,772,429
100$31,377,744$130,157$0$12,841,181