Can I retire at age 61 with 1,210,000?

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 $1,210,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$99,921$99,031$98,162$97,315$96,487$94,967
2 years$49,466$48,544$47,652$46,786$45,946$44,419
3 years$32,650$31,724$30,834$29,976$29,150$27,663
4 years$24,243$23,321$22,439$21,596$20,790$19,354
5 years$19,201$18,284$17,414$16,588$15,804$14,424
6 years$15,840$14,930$14,073$13,265$12,505$11,182
7 years$13,441$12,538$11,695$10,906$10,170$8,905
8 years$11,642$10,748$9,918$9,149$8,437$7,229
9 years$10,243$9,358$8,542$7,793$7,105$5,954
10 years$9,125$8,248$7,447$6,718$6,054$4,959
11 years$8,211$7,343$6,557$5,846$5,207$4,167
12 years$7,450$6,591$5,819$5,128$4,512$3,525
13 years$6,806$5,956$5,199$4,527$3,935$3,000
14 years$6,255$5,414$4,671$4,019$3,449$2,565
15 years$5,778$4,946$4,217$3,584$3,037$2,202
16 years$5,361$4,538$3,824$3,209$2,684$1,896
17 years$4,993$4,179$3,479$2,883$2,380$1,637
18 years$4,667$3,862$3,176$2,599$2,116$1,417
19 years$4,375$3,579$2,908$2,348$1,886$1,229
20 years$4,112$3,326$2,668$2,127$1,685$1,068
21 years$3,875$3,098$2,455$1,930$1,508$929
22 years$3,660$2,892$2,262$1,755$1,351$810
23 years$3,464$2,704$2,089$1,598$1,213$706
24 years$3,285$2,534$1,932$1,458$1,090$617
25 years$3,120$2,378$1,789$1,331$981$539
26 years$2,968$2,235$1,659$1,217$884$471
27 years$2,827$2,103$1,541$1,114$797$412
28 years$2,697$1,982$1,432$1,021$719$361
29 years$2,576$1,870$1,333$936$649$316
30 years$2,463$1,766$1,242$859$587$277
31 years$2,358$1,669$1,158$789$530$243
32 years$2,259$1,579$1,080$725$480$213
33 years$2,167$1,496$1,008$667$434$187
34 years$2,080$1,418$942$613$393$164
35 years$1,999$1,345$881$565$356$144
36 years$1,922$1,276$824$520$323$126
37 years$1,849$1,212$771$479$292$111
38 years$1,781$1,152$722$442$265$97
39 years$1,716$1,095$677$407$240$85
40 years$1,654$1,042$634$376$218$75
41 years$1,596$992$595$347$198$66
42 years$1,541$945$558$320$179$58
43 years$1,488$900$524$295$163$51
44 years$1,438$858$491$273$148$45
45 years$1,390$818$461$252$134$39
46 years$1,344$781$433$233$122$34
47 years$1,301$745$407$215$111$30
48 years$1,259$711$383$199$100$27
49 years$1,219$679$360$183$91$23
50 years$1,181$649$338$170$83$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,210,000, adding $5,072 every year, while hoping to spend $38,840 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: 38/38/24 Blend
60$1,210,000$1,210,000$1,210,000$1,210,000
61$1,338,652$1,274,522$1,255,767$1,379,762
62$1,433,869$1,295,648$1,256,509$1,431,286
63$1,537,496$1,316,507$1,255,975$1,482,949
64$1,650,351$1,337,046$1,254,081$1,538,013
65$1,773,332$1,357,207$1,250,737$1,596,810
66$1,907,428$1,376,926$1,245,853$1,659,707
67$2,053,728$1,396,138$1,239,332$1,727,109
68$2,213,431$1,414,771$1,231,072$1,799,464
69$2,387,855$1,432,750$1,220,967$1,877,269
70$2,578,453$1,449,991$1,208,907$1,961,071
71$2,786,825$1,466,410$1,194,774$2,051,477
72$3,014,729$1,481,912$1,178,447$2,149,156
73$3,264,104$1,496,398$1,159,798$2,254,849
74$3,537,084$1,509,764$1,138,693$2,369,375
75$3,836,020$1,521,895$1,114,992$2,493,638
76$4,163,499$1,532,673$1,088,549$2,628,638
77$4,522,371$1,541,969$1,059,211$2,775,480
78$4,915,775$1,549,648$1,026,817$2,935,383
79$5,347,169$1,555,566$991,200$3,109,698
80$5,820,359$1,559,567$952,184$3,299,913
81$6,339,540$1,561,490$909,586$3,507,674
82$6,909,330$1,561,160$863,215$3,734,800
83$7,534,819$1,558,394$812,869$3,983,297
84$8,221,610$1,552,995$758,341$4,255,384
85$8,975,879$1,544,757$699,410$4,553,509
86$9,804,427$1,533,458$635,848$4,880,375
87$10,714,746$1,518,865$567,417$5,238,969
88$11,715,091$1,500,731$493,866$5,632,587
89$12,814,556$1,478,792$414,936$6,064,866
90$14,023,159$1,452,771$330,355$6,539,826
91$15,351,937$1,422,373$239,838$7,061,898
92$16,813,051$1,387,285$143,088$7,635,979
93$18,419,898$1,347,177$39,797$8,267,470
94$20,187,238$1,301,700$0$8,962,333
95$22,131,335$1,250,482$0$9,745,183
96$24,270,107$1,193,132$0$10,617,293
97$26,623,298$1,129,235$0$11,576,562
98$29,212,660$1,058,353$0$12,631,924
99$32,062,160$980,021$0$13,793,231
100$35,198,209$893,751$0$15,071,345