Can I retire at age 61 with 1,200,000?

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 $1,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$99,095$98,212$97,351$96,510$95,690$92,368
2 years$49,057$48,143$47,258$46,399$45,567$42,254
3 years$32,380$31,462$30,579$29,728$28,909$25,711
4 years$24,043$23,128$22,254$21,418$20,618$17,558
5 years$19,042$18,133$17,270$16,451$15,674$12,759
6 years$15,709$14,807$13,956$13,156$12,402$9,636
7 years$13,329$12,435$11,598$10,816$10,086$7,468
8 years$11,546$10,659$9,836$9,073$8,367$5,895
9 years$10,159$9,280$8,472$7,729$7,047$4,717
10 years$9,050$8,180$7,386$6,662$6,004$3,813
11 years$8,143$7,282$6,502$5,798$5,164$3,107
12 years$7,388$6,536$5,771$5,086$4,475$2,547
13 years$6,750$5,907$5,156$4,490$3,902$2,099
14 years$6,204$5,369$4,632$3,986$3,421$1,736
15 years$5,730$4,905$4,182$3,554$3,012$1,441
16 years$5,316$4,500$3,792$3,183$2,662$1,199
17 years$4,952$4,144$3,451$2,860$2,360$1,000
18 years$4,628$3,830$3,150$2,577$2,098$836
19 years$4,339$3,549$2,884$2,329$1,870$699
20 years$4,078$3,298$2,646$2,109$1,671$586
21 years$3,843$3,072$2,434$1,914$1,495$491
22 years$3,630$2,868$2,244$1,740$1,340$413
23 years$3,435$2,682$2,071$1,585$1,203$347
24 years$3,257$2,513$1,916$1,446$1,081$291
25 years$3,094$2,358$1,774$1,320$973$245
26 years$2,943$2,216$1,646$1,207$876$206
27 years$2,804$2,086$1,528$1,105$790$173
28 years$2,675$1,966$1,421$1,012$713$146
29 years$2,555$1,854$1,322$928$644$123
30 years$2,443$1,751$1,231$852$582$104
31 years$2,338$1,655$1,148$782$526$87
32 years$2,241$1,566$1,071$719$476$73
33 years$2,149$1,483$1,000$661$431$62
34 years$2,063$1,406$934$608$390$52
35 years$1,982$1,333$874$560$353$44
36 years$1,906$1,266$817$516$320$37
37 years$1,834$1,202$765$475$290$31
38 years$1,766$1,142$716$438$263$26
39 years$1,702$1,086$671$404$238$22
40 years$1,641$1,034$629$373$216$19
41 years$1,583$984$590$344$196$16
42 years$1,528$937$553$317$178$13
43 years$1,476$893$519$293$162$11
44 years$1,426$851$487$270$147$9
45 years$1,378$811$458$250$133$8
46 years$1,333$774$430$231$121$7
47 years$1,290$739$404$213$110$6
48 years$1,249$705$379$197$100$5
49 years$1,209$673$357$182$91$4
50 years$1,172$643$335$168$82$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,200,000, adding $3,895 every year, while hoping to spend $25,915 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: 58/19/23 Blend
60$1,200,000$1,200,000$1,200,000$1,200,000
61$1,326,418$1,262,818$1,244,218$1,394,936
62$1,434,139$1,297,122$1,258,326$1,476,384
63$1,551,979$1,332,239$1,272,038$1,562,028
64$1,680,943$1,368,181$1,285,313$1,654,844
65$1,822,137$1,404,960$1,298,109$1,755,532
66$1,976,780$1,442,588$1,310,380$1,864,863
67$2,146,213$1,481,076$1,322,080$1,983,685
68$2,331,914$1,520,436$1,333,157$2,112,932
69$2,535,511$1,560,679$1,343,558$2,253,636
70$2,758,795$1,601,814$1,353,229$2,406,930
71$3,003,740$1,643,852$1,362,111$2,574,064
72$3,272,522$1,686,801$1,370,143$2,756,416
73$3,567,536$1,730,670$1,377,258$2,955,502
74$3,891,419$1,775,467$1,383,391$3,172,994
75$4,247,078$1,821,200$1,388,469$3,410,735
76$4,637,714$1,867,873$1,392,417$3,670,754
77$5,066,854$1,915,492$1,395,157$3,955,288
78$5,538,384$1,964,062$1,396,605$4,266,801
79$6,056,583$2,013,585$1,396,675$4,608,008
80$6,626,167$2,064,063$1,395,276$4,981,904
81$7,252,331$2,115,496$1,392,312$5,391,785
82$7,940,797$2,167,884$1,387,683$5,841,286
83$8,697,872$2,221,224$1,381,284$6,334,411
84$9,530,503$2,275,512$1,373,005$6,875,574
85$10,446,343$2,330,741$1,362,730$7,469,639
86$11,453,827$2,386,904$1,350,338$8,121,966
87$12,562,246$2,443,991$1,335,703$8,838,461
88$13,781,837$2,501,989$1,318,692$9,625,635
89$15,123,882$2,560,884$1,299,165$10,490,661
90$16,600,808$2,620,657$1,276,977$11,441,445
91$18,226,311$2,681,290$1,251,977$12,486,701
92$20,015,481$2,742,759$1,224,004$13,636,032
93$21,984,943$2,805,038$1,192,891$14,900,018
94$24,153,019$2,868,096$1,158,465$16,290,323
95$26,539,895$2,931,901$1,120,542$17,819,800
96$29,167,816$2,996,416$1,078,931$19,502,613
97$32,061,291$3,061,598$1,033,433$21,354,373
98$35,247,329$3,127,403$983,840$23,392,284
99$38,755,691$3,193,779$929,932$25,635,306
100$42,619,169$3,260,672$871,482$28,104,334