Can I retire at age 61 with 1,180,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,180,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$97,443$96,575$95,728$94,902$94,095$92,804
2 years$48,239$47,341$46,470$45,626$44,807$43,509
3 years$31,840$30,938$30,069$29,233$28,427$27,162
4 years$23,642$22,743$21,883$21,061$20,275$19,052
5 years$18,725$17,830$16,982$16,177$15,413$14,236
6 years$15,447$14,560$13,724$12,937$12,195$11,067
7 years$13,107$12,227$11,405$10,636$9,918$8,837
8 years$11,353$10,481$9,672$8,922$8,228$7,195
9 years$9,989$9,126$8,331$7,600$6,929$5,944
10 years$8,899$8,044$7,263$6,551$5,904$4,965
11 years$8,008$7,161$6,394$5,701$5,078$4,185
12 years$7,265$6,427$5,675$5,001$4,400$3,552
13 years$6,638$5,808$5,070$4,415$3,837$3,033
14 years$6,100$5,280$4,555$3,919$3,364$2,602
15 years$5,635$4,823$4,113$3,495$2,962$2,241
16 years$5,228$4,425$3,729$3,130$2,617$1,937
17 years$4,869$4,075$3,393$2,812$2,321$1,678
18 years$4,551$3,766$3,097$2,534$2,064$1,458
19 years$4,266$3,490$2,836$2,290$1,839$1,269
20 years$4,010$3,243$2,602$2,074$1,643$1,107
21 years$3,779$3,021$2,394$1,882$1,470$967
22 years$3,569$2,820$2,206$1,711$1,318$846
23 years$3,378$2,637$2,037$1,558$1,183$740
24 years$3,203$2,471$1,884$1,421$1,063$649
25 years$3,042$2,319$1,745$1,298$957$569
26 years$2,894$2,179$1,618$1,187$862$500
27 years$2,757$2,051$1,503$1,086$777$439
28 years$2,630$1,933$1,397$995$701$386
29 years$2,512$1,823$1,300$913$633$339
30 years$2,402$1,722$1,211$838$572$298
31 years$2,299$1,628$1,129$769$517$263
32 years$2,203$1,540$1,053$707$468$231
33 years$2,113$1,459$983$650$423$204
34 years$2,029$1,382$919$598$383$179
35 years$1,949$1,311$859$551$347$158
36 years$1,874$1,245$804$507$315$139
37 years$1,803$1,182$752$467$285$123
38 years$1,736$1,123$704$431$258$108
39 years$1,673$1,068$660$397$234$95
40 years$1,613$1,016$619$366$213$84
41 years$1,556$967$580$338$193$74
42 years$1,502$921$544$312$175$65
43 years$1,451$878$511$288$159$58
44 years$1,402$837$479$266$144$51
45 years$1,355$798$450$246$131$45
46 years$1,311$761$423$227$119$40
47 years$1,269$726$397$210$108$35
48 years$1,228$693$373$194$98$31
49 years$1,189$662$351$179$89$27
50 years$1,152$633$330$165$81$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,180,000, adding $4,684 every year, while hoping to spend $32,394 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: 30/50/20 Blend
60$1,180,000$1,180,000$1,180,000$1,180,000
61$1,305,192$1,242,652$1,224,362$1,336,044
62$1,403,854$1,269,075$1,230,911$1,386,303
63$1,511,495$1,295,706$1,236,594$1,437,099
64$1,628,994$1,322,524$1,241,347$1,491,062
65$1,757,324$1,349,499$1,245,104$1,548,485
66$1,897,552$1,376,606$1,247,796$1,609,691
67$2,050,854$1,403,811$1,249,349$1,675,039
68$2,218,524$1,431,081$1,249,685$1,744,922
69$2,401,990$1,458,380$1,248,726$1,819,776
70$2,602,820$1,485,668$1,246,385$1,900,083
71$2,822,743$1,512,901$1,242,575$1,986,371
72$3,063,663$1,540,033$1,237,201$2,079,229
73$3,327,676$1,567,015$1,230,167$2,179,301
74$3,617,092$1,593,791$1,221,370$2,287,302
75$3,934,453$1,620,304$1,210,704$2,404,020
76$4,282,560$1,646,492$1,198,055$2,530,325
77$4,664,497$1,672,287$1,183,306$2,667,178
78$5,083,664$1,697,616$1,166,335$2,815,639
79$5,543,802$1,722,404$1,147,011$2,976,878
80$6,049,035$1,746,567$1,125,201$3,152,187
81$6,603,904$1,770,016$1,100,763$3,342,991
82$7,213,412$1,792,657$1,073,549$3,550,866
83$7,883,072$1,814,389$1,043,404$3,777,548
84$8,618,954$1,835,103$1,010,168$4,024,954
85$9,427,749$1,854,684$973,669$4,295,200
86$10,316,825$1,873,009$933,733$4,590,622
87$11,294,301$1,889,947$890,173$4,913,797
88$12,369,122$1,905,357$842,796$5,267,568
89$13,551,143$1,919,090$791,400$5,655,074
90$14,851,222$1,930,988$735,775$6,079,778
91$16,281,322$1,940,881$675,698$6,545,500
92$17,854,623$1,948,591$610,941$7,056,457
93$19,585,648$1,953,925$541,261$7,617,299
94$21,490,398$1,956,681$466,407$8,233,158
95$23,586,504$1,956,644$386,116$8,909,695
96$25,893,390$1,953,582$300,114$9,653,157
97$28,432,463$1,947,255$208,115$10,470,432
98$31,227,307$1,937,403$109,819$11,369,120
99$34,303,908$1,923,752$4,914$12,357,606
100$37,690,903$1,906,011$0$13,445,136