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%12.6%
1 years$97,443$96,575$95,728$94,902$94,095$93,073
2 years$48,239$47,341$46,470$45,626$44,807$43,779
3 years$31,840$30,938$30,069$29,233$28,427$27,424
4 years$23,642$22,743$21,883$21,061$20,275$19,304
5 years$18,725$17,830$16,982$16,177$15,413$14,477
6 years$15,447$14,560$13,724$12,937$12,195$11,297
7 years$13,107$12,227$11,405$10,636$9,918$9,056
8 years$11,353$10,481$9,672$8,922$8,228$7,403
9 years$9,989$9,126$8,331$7,600$6,929$6,141
10 years$8,899$8,044$7,263$6,551$5,904$5,152
11 years$8,008$7,161$6,394$5,701$5,078$4,361
12 years$7,265$6,427$5,675$5,001$4,400$3,718
13 years$6,638$5,808$5,070$4,415$3,837$3,189
14 years$6,100$5,280$4,555$3,919$3,364$2,749
15 years$5,635$4,823$4,113$3,495$2,962$2,379
16 years$5,228$4,425$3,729$3,130$2,617$2,066
17 years$4,869$4,075$3,393$2,812$2,321$1,799
18 years$4,551$3,766$3,097$2,534$2,064$1,571
19 years$4,266$3,490$2,836$2,290$1,839$1,374
20 years$4,010$3,243$2,602$2,074$1,643$1,205
21 years$3,779$3,021$2,394$1,882$1,470$1,058
22 years$3,569$2,820$2,206$1,711$1,318$930
23 years$3,378$2,637$2,037$1,558$1,183$819
24 years$3,203$2,471$1,884$1,421$1,063$721
25 years$3,042$2,319$1,745$1,298$957$636
26 years$2,894$2,179$1,618$1,187$862$562
27 years$2,757$2,051$1,503$1,086$777$496
28 years$2,630$1,933$1,397$995$701$439
29 years$2,512$1,823$1,300$913$633$388
30 years$2,402$1,722$1,211$838$572$343
31 years$2,299$1,628$1,129$769$517$304
32 years$2,203$1,540$1,053$707$468$269
33 years$2,113$1,459$983$650$423$238
34 years$2,029$1,382$919$598$383$211
35 years$1,949$1,311$859$551$347$187
36 years$1,874$1,245$804$507$315$166
37 years$1,803$1,182$752$467$285$147
38 years$1,736$1,123$704$431$258$130
39 years$1,673$1,068$660$397$234$116
40 years$1,613$1,016$619$366$213$103
41 years$1,556$967$580$338$193$91
42 years$1,502$921$544$312$175$81
43 years$1,451$878$511$288$159$72
44 years$1,402$837$479$266$144$64
45 years$1,355$798$450$246$131$57
46 years$1,311$761$423$227$119$50
47 years$1,269$726$397$210$108$45
48 years$1,228$693$373$194$98$40
49 years$1,189$662$351$179$89$35
50 years$1,152$633$330$165$81$31

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 $6,069 every year, while hoping to spend $55,027 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: 52/42/6 Blend
60$1,180,000$1,180,000$1,180,000$1,180,000
61$1,306,620$1,244,080$1,225,790$1,372,400
62$1,381,347$1,246,492$1,208,306$1,420,102
63$1,461,852$1,247,177$1,188,392$1,465,441
64$1,548,666$1,245,994$1,165,908$1,513,417
65$1,642,373$1,242,791$1,140,708$1,564,289
66$1,743,613$1,237,406$1,112,641$1,618,344
67$1,853,093$1,229,670$1,081,545$1,675,901
68$1,971,585$1,219,401$1,047,254$1,737,315
69$2,099,943$1,206,407$1,009,593$1,802,976
70$2,239,101$1,190,485$968,378$1,873,323
71$2,390,090$1,171,420$923,420$1,948,836
72$2,554,042$1,148,982$874,517$2,030,053
73$2,732,202$1,122,929$821,461$2,117,568
74$2,925,940$1,093,007$764,033$2,212,040
75$3,136,764$1,058,942$702,006$2,314,198
76$3,366,331$1,020,448$635,141$2,424,852
77$3,616,467$977,220$563,189$2,544,898
78$3,889,181$928,938$485,890$2,675,331
79$4,186,682$875,260$402,972$2,817,249
80$4,511,404$815,828$314,151$2,971,871
81$4,866,024$750,261$219,132$3,140,547
82$5,253,491$678,156$117,605$3,324,769
83$5,677,050$599,088$9,248$3,526,189
84$6,140,274$512,609$0$3,746,639
85$6,647,099$418,244$0$3,994,951
86$7,201,856$315,491$0$4,267,630
87$7,809,317$203,821$0$4,566,582
88$8,474,733$82,675$0$4,894,572
89$9,203,892$0$0$5,254,655
90$10,003,163$0$0$5,672,641
91$10,879,566$0$0$6,172,978
92$11,840,828$0$0$6,721,884
93$12,895,462$0$0$7,324,235
94$14,052,845$0$0$7,985,403
95$15,323,306$0$0$8,711,303
96$16,718,222$0$0$9,508,455
97$18,250,126$0$0$10,384,036
98$19,932,822$0$0$11,345,957
99$21,781,521$0$0$12,402,931
100$23,812,977$0$0$13,564,556