Can I retire at age 61 with 1,170,000?

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 $1,170,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$96,618$95,757$94,917$94,098$93,297$91,827
2 years$47,830$46,940$46,076$45,239$44,427$42,950
3 years$31,570$30,676$29,814$28,985$28,187$26,748
4 years$23,442$22,550$21,697$20,882$20,103$18,714
5 years$18,566$17,679$16,838$16,040$15,282$13,947
6 years$15,316$14,436$13,608$12,827$12,092$10,813
7 years$12,996$12,124$11,308$10,546$9,834$8,611
8 years$11,257$10,392$9,590$8,847$8,158$6,990
9 years$9,905$9,048$8,260$7,535$6,870$5,758
10 years$8,824$7,976$7,201$6,496$5,854$4,795
11 years$7,940$7,100$6,340$5,653$5,035$4,029
12 years$7,204$6,373$5,626$4,958$4,363$3,409
13 years$6,581$5,759$5,027$4,378$3,805$2,901
14 years$6,048$5,235$4,517$3,886$3,335$2,480
15 years$5,587$4,782$4,078$3,466$2,936$2,129
16 years$5,184$4,388$3,697$3,103$2,595$1,833
17 years$4,828$4,041$3,364$2,788$2,301$1,583
18 years$4,512$3,734$3,071$2,513$2,046$1,371
19 years$4,230$3,461$2,812$2,270$1,824$1,189
20 years$3,976$3,216$2,580$2,056$1,629$1,033
21 years$3,747$2,995$2,373$1,866$1,458$899
22 years$3,539$2,796$2,187$1,697$1,307$783
23 years$3,350$2,615$2,020$1,545$1,173$683
24 years$3,176$2,450$1,868$1,409$1,054$596
25 years$3,016$2,299$1,730$1,287$949$521
26 years$2,869$2,161$1,605$1,177$855$456
27 years$2,734$2,034$1,490$1,077$770$399
28 years$2,608$1,916$1,385$987$695$349
29 years$2,491$1,808$1,289$905$628$306
30 years$2,382$1,707$1,201$831$567$268
31 years$2,280$1,614$1,119$763$513$235
32 years$2,185$1,527$1,044$701$464$206
33 years$2,095$1,446$975$645$420$180
34 years$2,011$1,371$911$593$380$158
35 years$1,933$1,300$852$546$344$139
36 years$1,858$1,234$797$503$312$122
37 years$1,788$1,172$746$463$283$107
38 years$1,722$1,114$698$427$256$94
39 years$1,659$1,059$654$394$232$82
40 years$1,600$1,008$613$363$211$72
41 years$1,543$959$575$335$191$64
42 years$1,490$914$539$309$174$56
43 years$1,439$870$506$286$157$49
44 years$1,390$830$475$264$143$43
45 years$1,344$791$446$243$130$38
46 years$1,300$755$419$225$118$33
47 years$1,258$720$394$208$107$29
48 years$1,218$688$370$192$97$26
49 years$1,179$657$348$177$88$23
50 years$1,142$627$327$164$80$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,170,000, adding $5,074 every year, while hoping to spend $44,153 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: 39/33/28 Blend
60$1,170,000$1,170,000$1,170,000$1,170,000
61$1,294,574$1,232,564$1,214,429$1,334,148
62$1,379,642$1,245,981$1,208,134$1,376,943
63$1,471,907$1,258,576$1,200,148$1,418,742
64$1,572,057$1,270,261$1,190,368$1,463,099
65$1,680,848$1,280,945$1,178,686$1,510,276
66$1,799,111$1,290,528$1,164,989$1,560,563
67$1,927,761$1,298,905$1,149,157$1,614,282
68$2,067,806$1,305,965$1,131,068$1,671,793
69$2,220,353$1,311,588$1,110,589$1,733,491
70$2,386,622$1,315,648$1,087,586$1,799,819
71$2,567,953$1,318,010$1,061,916$1,871,265
72$2,765,823$1,318,532$1,033,430$1,948,371
73$2,981,859$1,317,062$1,001,971$2,031,738
74$3,217,848$1,313,438$967,377$2,122,032
75$3,475,762$1,307,489$929,477$2,219,992
76$3,757,768$1,299,035$888,093$2,326,435
77$4,066,254$1,287,881$843,038$2,442,266
78$4,403,850$1,273,825$794,117$2,568,489
79$4,773,449$1,256,649$741,127$2,706,214
80$5,178,241$1,236,125$683,854$2,856,671
81$5,621,735$1,212,008$622,077$3,021,219
82$6,107,797$1,184,043$555,562$3,201,365
83$6,640,687$1,151,955$484,068$3,398,773
84$7,225,093$1,115,457$407,340$3,615,286
85$7,866,181$1,074,242$325,114$3,852,942
86$8,569,639$1,027,988$237,114$4,113,995
87$9,341,736$976,353$143,050$4,400,935
88$10,189,373$918,974$42,622$4,716,518
89$11,120,154$855,469$0$5,063,788
90$12,142,456$785,434$0$5,465,395
91$13,265,507$708,440$0$5,920,617
92$14,499,471$624,036$0$6,420,917
93$15,855,548$531,744$0$6,970,942
94$17,346,073$431,060$0$7,575,819
95$18,984,640$321,449$0$8,241,204
96$20,786,223$202,349$0$8,973,337
97$22,767,320$73,166$0$9,779,102
98$24,946,106$0$0$10,666,091
99$27,342,610$0$0$11,666,914
100$29,978,894$0$0$12,797,279