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

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 $1,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$98,269$97,394$96,540$95,706$94,892$92,523
2 years$48,648$47,742$46,864$46,013$45,187$42,815
3 years$32,110$31,200$30,324$29,481$28,668$26,368
4 years$23,842$22,935$22,068$21,239$20,447$18,235
5 years$18,883$17,982$17,126$16,314$15,543$13,427
6 years$15,578$14,683$13,840$13,046$12,299$10,280
7 years$13,218$12,331$11,501$10,726$10,002$8,081
8 years$11,449$10,570$9,754$8,998$8,298$6,474
9 years$10,074$9,203$8,401$7,664$6,988$5,259
10 years$8,975$8,112$7,324$6,607$5,954$4,318
11 years$8,076$7,222$6,448$5,750$5,121$3,576
12 years$7,327$6,482$5,723$5,043$4,437$2,981
13 years$6,694$5,858$5,113$4,452$3,870$2,498
14 years$6,152$5,324$4,594$3,952$3,392$2,103
15 years$5,682$4,864$4,148$3,525$2,987$1,776
16 years$5,272$4,463$3,760$3,156$2,640$1,505
17 years$4,910$4,110$3,422$2,836$2,340$1,278
18 years$4,589$3,798$3,124$2,556$2,081$1,088
19 years$4,302$3,520$2,860$2,309$1,855$928
20 years$4,044$3,271$2,624$2,091$1,657$792
21 years$3,811$3,046$2,414$1,898$1,483$678
22 years$3,600$2,844$2,225$1,726$1,329$580
23 years$3,407$2,660$2,054$1,572$1,193$497
24 years$3,230$2,492$1,900$1,433$1,072$426
25 years$3,068$2,339$1,760$1,309$965$365
26 years$2,919$2,198$1,632$1,197$869$314
27 years$2,780$2,069$1,515$1,096$784$269
28 years$2,652$1,949$1,409$1,004$707$231
29 years$2,533$1,839$1,311$921$638$199
30 years$2,422$1,737$1,221$845$577$171
31 years$2,319$1,642$1,138$776$522$147
32 years$2,222$1,553$1,062$713$472$127
33 years$2,131$1,471$992$656$427$109
34 years$2,046$1,394$927$603$387$94
35 years$1,966$1,322$866$555$350$81
36 years$1,890$1,255$810$512$317$69
37 years$1,819$1,192$759$471$288$60
38 years$1,751$1,133$710$434$261$51
39 years$1,687$1,077$666$401$236$44
40 years$1,627$1,025$624$369$214$38
41 years$1,570$976$585$341$195$33
42 years$1,515$929$549$315$176$28
43 years$1,463$885$515$290$160$24
44 years$1,414$844$483$268$145$21
45 years$1,367$805$454$248$132$18
46 years$1,322$768$426$229$120$16
47 years$1,279$733$400$211$109$13
48 years$1,238$699$376$195$99$12
49 years$1,199$668$354$180$90$10
50 years$1,162$638$333$167$82$9

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 $3,817 every year, while hoping to spend $28,612 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: 59/30/11 Blend
60$1,190,000$1,190,000$1,190,000$1,190,000
61$1,315,317$1,252,247$1,233,802$1,389,231
62$1,419,037$1,283,164$1,244,692$1,470,336
63$1,532,376$1,314,638$1,254,987$1,555,177
64$1,656,288$1,346,664$1,264,638$1,646,995
65$1,791,818$1,379,239$1,273,592$1,746,464
66$1,940,119$1,412,358$1,281,793$1,854,324
67$2,102,462$1,446,014$1,289,184$1,971,393
68$2,280,244$1,480,199$1,295,702$2,098,571
69$2,475,005$1,514,905$1,301,284$2,236,847
70$2,688,439$1,550,119$1,305,861$2,387,314
71$2,922,415$1,585,830$1,309,363$2,551,173
72$3,178,989$1,622,023$1,311,714$2,729,750
73$3,460,426$1,658,682$1,312,836$2,924,501
74$3,769,220$1,695,789$1,312,647$3,137,035
75$4,108,120$1,733,322$1,311,061$3,369,122
76$4,480,153$1,771,260$1,307,986$3,622,712
77$4,888,653$1,809,575$1,303,328$3,899,955
78$5,337,293$1,848,242$1,296,986$4,203,219
79$5,830,119$1,887,228$1,288,857$4,535,113
80$6,371,588$1,926,499$1,278,831$4,898,512
81$6,966,612$1,966,019$1,266,794$5,296,585
82$7,620,599$2,005,747$1,252,624$5,732,822
83$8,339,510$2,045,638$1,236,197$6,211,069
84$9,129,910$2,085,645$1,217,380$6,735,567
85$9,999,034$2,125,715$1,196,035$7,310,987
86$10,954,852$2,165,791$1,172,019$7,942,476
87$12,006,145$2,205,813$1,145,179$8,635,707
88$13,162,587$2,245,713$1,115,358$9,396,933
89$14,434,838$2,285,420$1,082,390$10,233,042
90$15,834,643$2,324,858$1,046,102$11,151,627
91$17,374,944$2,363,943$1,006,313$12,161,056
92$19,069,998$2,402,585$962,834$13,270,549
93$20,935,516$2,440,690$915,467$14,490,269
94$22,988,808$2,478,154$864,005$15,831,415
95$25,248,949$2,514,866$808,232$17,306,330
96$27,736,956$2,550,709$747,922$18,928,615
97$30,475,988$2,585,555$682,839$20,713,262
98$33,491,561$2,619,270$612,737$22,676,791
99$36,811,793$2,651,707$537,357$24,837,408
100$40,467,668$2,682,713$456,431$27,215,180