Can I retire at age 61 with 1,190,000?

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 $1,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$98,269$97,394$96,540$95,706$94,892$92,113
2 years$48,648$47,742$46,864$46,013$45,187$42,409
3 years$32,110$31,200$30,324$29,481$28,668$25,980
4 years$23,842$22,935$22,068$21,239$20,447$17,867
5 years$18,883$17,982$17,126$16,314$15,543$13,080
6 years$15,578$14,683$13,840$13,046$12,299$9,955
7 years$13,218$12,331$11,501$10,726$10,002$7,777
8 years$11,449$10,570$9,754$8,998$8,298$6,189
9 years$10,074$9,203$8,401$7,664$6,988$4,995
10 years$8,975$8,112$7,324$6,607$5,954$4,073
11 years$8,076$7,222$6,448$5,750$5,121$3,349
12 years$7,327$6,482$5,723$5,043$4,437$2,772
13 years$6,694$5,858$5,113$4,452$3,870$2,306
14 years$6,152$5,324$4,594$3,952$3,392$1,926
15 years$5,682$4,864$4,148$3,525$2,987$1,615
16 years$5,272$4,463$3,760$3,156$2,640$1,357
17 years$4,910$4,110$3,422$2,836$2,340$1,144
18 years$4,589$3,798$3,124$2,556$2,081$966
19 years$4,302$3,520$2,860$2,309$1,855$817
20 years$4,044$3,271$2,624$2,091$1,657$692
21 years$3,811$3,046$2,414$1,898$1,483$586
22 years$3,600$2,844$2,225$1,726$1,329$498
23 years$3,407$2,660$2,054$1,572$1,193$423
24 years$3,230$2,492$1,900$1,433$1,072$359
25 years$3,068$2,339$1,760$1,309$965$305
26 years$2,919$2,198$1,632$1,197$869$260
27 years$2,780$2,069$1,515$1,096$784$221
28 years$2,652$1,949$1,409$1,004$707$188
29 years$2,533$1,839$1,311$921$638$160
30 years$2,422$1,737$1,221$845$577$137
31 years$2,319$1,642$1,138$776$522$116
32 years$2,222$1,553$1,062$713$472$99
33 years$2,131$1,471$992$656$427$85
34 years$2,046$1,394$927$603$387$72
35 years$1,966$1,322$866$555$350$62
36 years$1,890$1,255$810$512$317$52
37 years$1,819$1,192$759$471$288$45
38 years$1,751$1,133$710$434$261$38
39 years$1,687$1,077$666$401$236$33
40 years$1,627$1,025$624$369$214$28
41 years$1,570$976$585$341$195$24
42 years$1,515$929$549$315$176$20
43 years$1,463$885$515$290$160$17
44 years$1,414$844$483$268$145$15
45 years$1,367$805$454$248$132$13
46 years$1,322$768$426$229$120$11
47 years$1,279$733$400$211$109$9
48 years$1,238$699$376$195$99$8
49 years$1,199$668$354$180$90$7
50 years$1,162$638$333$167$82$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,190,000, adding $4,245 every year, while hoping to spend $55,115 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: 73/18/9 Blend
60$1,190,000$1,190,000$1,190,000$1,190,000
61$1,315,759$1,252,689$1,234,244$1,409,433
62$1,391,324$1,255,429$1,216,949$1,474,570
63$1,472,750$1,256,455$1,197,228$1,538,592
64$1,560,576$1,255,627$1,174,940$1,607,180
65$1,655,395$1,252,793$1,149,941$1,680,767
66$1,757,858$1,247,792$1,122,076$1,759,833
67$1,868,681$1,240,456$1,091,187$1,844,908
68$1,988,651$1,230,602$1,057,107$1,936,574
69$2,118,632$1,218,041$1,019,659$2,035,477
70$2,259,577$1,202,570$978,662$2,142,324
71$2,412,531$1,183,972$933,924$2,257,901
72$2,578,644$1,162,022$885,245$2,383,070
73$2,759,181$1,136,477$832,417$2,518,786
74$2,955,536$1,107,082$775,221$2,666,099
75$3,169,238$1,073,567$713,428$2,826,169
76$3,401,973$1,035,645$646,801$3,000,276
77$3,655,596$993,013$575,090$3,189,832
78$3,932,147$945,350$498,036$3,396,393
79$4,233,872$892,319$415,366$3,621,677
80$4,563,243$833,559$326,797$3,867,580
81$4,922,982$768,691$232,033$4,136,192
82$5,316,085$697,315$130,765$4,429,817
83$5,745,849$619,007$22,669$4,751,001
84$6,215,906$533,319$0$5,102,548
85$6,730,254$439,777$0$5,496,455
86$7,293,296$337,882$0$5,930,134
87$7,909,879$227,106$0$6,405,208
88$8,585,344$106,891$0$6,925,866
89$9,325,568$0$0$7,496,727
90$10,137,028$0$0$8,127,507
91$11,026,854$0$0$8,842,476
92$12,002,902$0$0$9,626,779
93$13,073,823$0$0$10,487,377
94$14,249,147$0$0$11,431,933
95$15,539,370$0$0$12,468,891
96$16,956,055$0$0$13,607,553
97$18,511,940$0$0$14,858,163
98$20,221,056$0$0$16,232,009
99$22,098,860$0$0$17,741,524
100$24,162,380$0$0$19,400,406