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

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 $1,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$99,095$98,212$97,351$96,510$95,690$94,455
2 years$49,057$48,143$47,258$46,399$45,567$44,324
3 years$32,380$31,462$30,579$29,728$28,909$27,698
4 years$24,043$23,128$22,254$21,418$20,618$19,448
5 years$19,042$18,133$17,270$16,451$15,674$14,547
6 years$15,709$14,807$13,956$13,156$12,402$11,320
7 years$13,329$12,435$11,598$10,816$10,086$9,050
8 years$11,546$10,659$9,836$9,073$8,367$7,377
9 years$10,159$9,280$8,472$7,729$7,047$6,101
10 years$9,050$8,180$7,386$6,662$6,004$5,103
11 years$8,143$7,282$6,502$5,798$5,164$4,306
12 years$7,388$6,536$5,771$5,086$4,475$3,660
13 years$6,750$5,907$5,156$4,490$3,902$3,129
14 years$6,204$5,369$4,632$3,986$3,421$2,688
15 years$5,730$4,905$4,182$3,554$3,012$2,318
16 years$5,316$4,500$3,792$3,183$2,662$2,006
17 years$4,952$4,144$3,451$2,860$2,360$1,741
18 years$4,628$3,830$3,150$2,577$2,098$1,515
19 years$4,339$3,549$2,884$2,329$1,870$1,321
20 years$4,078$3,298$2,646$2,109$1,671$1,153
21 years$3,843$3,072$2,434$1,914$1,495$1,009
22 years$3,630$2,868$2,244$1,740$1,340$884
23 years$3,435$2,682$2,071$1,585$1,203$775
24 years$3,257$2,513$1,916$1,446$1,081$680
25 years$3,094$2,358$1,774$1,320$973$598
26 years$2,943$2,216$1,646$1,207$876$525
27 years$2,804$2,086$1,528$1,105$790$462
28 years$2,675$1,966$1,421$1,012$713$407
29 years$2,555$1,854$1,322$928$644$358
30 years$2,443$1,751$1,231$852$582$316
31 years$2,338$1,655$1,148$782$526$278
32 years$2,241$1,566$1,071$719$476$246
33 years$2,149$1,483$1,000$661$431$217
34 years$2,063$1,406$934$608$390$191
35 years$1,982$1,333$874$560$353$169
36 years$1,906$1,266$817$516$320$149
37 years$1,834$1,202$765$475$290$132
38 years$1,766$1,142$716$438$263$116
39 years$1,702$1,086$671$404$238$103
40 years$1,641$1,034$629$373$216$91
41 years$1,583$984$590$344$196$80
42 years$1,528$937$553$317$178$71
43 years$1,476$893$519$293$162$62
44 years$1,426$851$487$270$147$55
45 years$1,378$811$458$250$133$49
46 years$1,333$774$430$231$121$43
47 years$1,290$739$404$213$110$38
48 years$1,249$705$379$197$100$34
49 years$1,209$673$357$182$91$30
50 years$1,172$643$335$168$82$26

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 $4,166 every year, while hoping to spend $50,743 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: 68/5/27 Blend
60$1,200,000$1,200,000$1,200,000$1,200,000
61$1,326,697$1,263,097$1,244,497$1,407,347
62$1,408,030$1,270,999$1,232,198$1,469,989
63$1,495,958$1,277,587$1,217,786$1,532,341
64$1,591,101$1,282,744$1,201,136$1,599,403
65$1,694,139$1,286,343$1,182,120$1,671,644
66$1,805,820$1,288,253$1,160,599$1,749,579
67$1,926,967$1,288,331$1,136,433$1,833,778
68$2,058,485$1,286,427$1,109,471$1,924,870
69$2,201,370$1,282,381$1,079,558$2,023,548
70$2,356,715$1,276,023$1,046,529$2,130,579
71$2,525,727$1,267,175$1,010,214$2,246,808
72$2,709,729$1,255,645$970,434$2,373,168
73$2,910,180$1,241,230$927,003$2,510,691
74$3,128,686$1,223,717$879,724$2,660,512
75$3,367,011$1,202,879$828,394$2,823,887
76$3,627,100$1,178,474$772,800$3,002,200
77$3,911,093$1,150,248$712,717$3,196,979
78$4,221,345$1,117,931$647,914$3,409,910
79$4,560,450$1,081,237$578,146$3,642,854
80$4,931,262$1,039,863$503,160$3,897,864
81$5,336,924$993,490$422,690$4,177,205
82$5,780,898$941,779$336,458$4,483,374
83$6,266,995$884,372$244,175$4,819,130
84$6,799,413$820,890$145,538$5,187,512
85$7,382,772$750,933$40,233$5,591,876
86$8,022,163$674,077$0$6,035,921
87$8,723,191$589,875$0$6,544,515
88$9,492,032$497,854$0$7,115,096
89$10,335,486$397,515$0$7,741,128
90$11,261,043$288,330$0$8,428,198
91$12,276,953$169,743$0$9,182,458
92$13,392,306$41,164$0$10,010,686
93$14,617,113$0$0$10,920,352
94$15,962,402$0$0$11,925,078
95$17,440,322$0$0$13,031,423
96$19,064,258$0$0$14,247,149
97$20,848,953$0$0$15,583,304
98$22,810,651$0$0$17,052,060
99$24,967,248$0$0$18,666,826
100$27,338,461$0$0$20,442,375