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

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 $1,180,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$97,443$96,575$95,728$94,902$94,095$92,727
2 years$48,239$47,341$46,470$45,626$44,807$43,432
3 years$31,840$30,938$30,069$29,233$28,427$27,088
4 years$23,642$22,743$21,883$21,061$20,275$18,981
5 years$18,725$17,830$16,982$16,177$15,413$14,168
6 years$15,447$14,560$13,724$12,937$12,195$11,002
7 years$13,107$12,227$11,405$10,636$9,918$8,776
8 years$11,353$10,481$9,672$8,922$8,228$7,137
9 years$9,989$9,126$8,331$7,600$6,929$5,889
10 years$8,899$8,044$7,263$6,551$5,904$4,913
11 years$8,008$7,161$6,394$5,701$5,078$4,136
12 years$7,265$6,427$5,675$5,001$4,400$3,506
13 years$6,638$5,808$5,070$4,415$3,837$2,990
14 years$6,100$5,280$4,555$3,919$3,364$2,561
15 years$5,635$4,823$4,113$3,495$2,962$2,203
16 years$5,228$4,425$3,729$3,130$2,617$1,901
17 years$4,869$4,075$3,393$2,812$2,321$1,645
18 years$4,551$3,766$3,097$2,534$2,064$1,427
19 years$4,266$3,490$2,836$2,290$1,839$1,241
20 years$4,010$3,243$2,602$2,074$1,643$1,080
21 years$3,779$3,021$2,394$1,882$1,470$942
22 years$3,569$2,820$2,206$1,711$1,318$823
23 years$3,378$2,637$2,037$1,558$1,183$719
24 years$3,203$2,471$1,884$1,421$1,063$629
25 years$3,042$2,319$1,745$1,298$957$551
26 years$2,894$2,179$1,618$1,187$862$483
27 years$2,757$2,051$1,503$1,086$777$424
28 years$2,630$1,933$1,397$995$701$372
29 years$2,512$1,823$1,300$913$633$326
30 years$2,402$1,722$1,211$838$572$287
31 years$2,299$1,628$1,129$769$517$252
32 years$2,203$1,540$1,053$707$468$221
33 years$2,113$1,459$983$650$423$195
34 years$2,029$1,382$919$598$383$171
35 years$1,949$1,311$859$551$347$151
36 years$1,874$1,245$804$507$315$133
37 years$1,803$1,182$752$467$285$117
38 years$1,736$1,123$704$431$258$103
39 years$1,673$1,068$660$397$234$90
40 years$1,613$1,016$619$366$213$80
41 years$1,556$967$580$338$193$70
42 years$1,502$921$544$312$175$62
43 years$1,451$878$511$288$159$54
44 years$1,402$837$479$266$144$48
45 years$1,355$798$450$246$131$42
46 years$1,311$761$423$227$119$37
47 years$1,269$726$397$210$108$33
48 years$1,228$693$373$194$98$29
49 years$1,189$662$351$179$89$25
50 years$1,152$633$330$165$81$22

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 $2,540 every year, while hoping to spend $53,787 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: 76/18/6 Blend
60$1,180,000$1,180,000$1,180,000$1,180,000
61$1,302,980$1,240,440$1,222,150$1,401,046
62$1,378,655$1,243,993$1,205,863$1,469,374
63$1,460,246$1,245,917$1,187,228$1,537,075
64$1,548,300$1,246,075$1,166,109$1,609,706
65$1,643,417$1,244,324$1,142,364$1,687,735
66$1,746,258$1,240,508$1,115,846$1,771,677
67$1,857,548$1,234,464$1,086,398$1,862,097
68$1,978,084$1,226,019$1,053,859$1,959,622
69$2,108,744$1,214,989$1,018,058$2,064,941
70$2,250,491$1,201,179$978,818$2,178,814
71$2,404,386$1,184,382$935,953$2,302,079
72$2,571,595$1,164,378$889,269$2,435,658
73$2,753,401$1,140,936$838,563$2,580,571
74$2,951,216$1,113,809$783,623$2,737,940
75$3,166,592$1,082,738$724,227$2,909,003
76$3,401,239$1,047,447$660,142$3,095,125
77$3,657,037$1,007,643$591,129$3,297,812
78$3,936,055$963,019$516,933$3,518,722
79$4,240,573$913,247$437,290$3,759,687
80$4,573,097$857,982$351,925$4,022,723
81$4,936,388$796,858$260,549$4,310,058
82$5,333,486$729,490$162,863$4,624,144
83$5,767,735$655,468$58,553$4,967,687
84$6,242,819$574,362$0$5,343,672
85$6,762,796$485,715$0$5,758,766
86$7,332,132$389,045$0$6,217,440
87$7,955,745$283,844$0$6,719,964
88$8,639,052$169,574$0$7,270,774
89$9,388,019$45,667$0$7,874,759
90$10,209,216$0$0$8,537,309
91$11,109,879$0$0$9,281,889
92$12,097,978$0$0$10,108,722
93$13,182,293$0$0$11,016,114
94$14,372,492$0$0$12,012,164
95$15,679,229$0$0$13,105,792
96$17,114,236$0$0$14,306,824
97$18,690,439$0$0$15,626,084
98$20,422,077$0$0$17,075,499
99$22,324,837$0$0$18,668,203
100$24,415,998$0$0$20,418,670