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%14.2%
1 years$99,921$99,031$98,162$97,315$96,487$94,811
2 years$49,466$48,544$47,652$46,786$45,946$44,263
3 years$32,650$31,724$30,834$29,976$29,150$27,512
4 years$24,243$23,321$22,439$21,596$20,790$19,210
5 years$19,201$18,284$17,414$16,588$15,804$14,287
6 years$15,840$14,930$14,073$13,265$12,505$11,052
7 years$13,441$12,538$11,695$10,906$10,170$8,781
8 years$11,642$10,748$9,918$9,149$8,437$7,113
9 years$10,243$9,358$8,542$7,793$7,105$5,844
10 years$9,125$8,248$7,447$6,718$6,054$4,855
11 years$8,211$7,343$6,557$5,846$5,207$4,069
12 years$7,450$6,591$5,819$5,128$4,512$3,434
13 years$6,806$5,956$5,199$4,527$3,935$2,915
14 years$6,255$5,414$4,671$4,019$3,449$2,485
15 years$5,778$4,946$4,217$3,584$3,037$2,128
16 years$5,361$4,538$3,824$3,209$2,684$1,827
17 years$4,993$4,179$3,479$2,883$2,380$1,573
18 years$4,667$3,862$3,176$2,599$2,116$1,358
19 years$4,375$3,579$2,908$2,348$1,886$1,174
20 years$4,112$3,326$2,668$2,127$1,685$1,017
21 years$3,875$3,098$2,455$1,930$1,508$883
22 years$3,660$2,892$2,262$1,755$1,351$767
23 years$3,464$2,704$2,089$1,598$1,213$667
24 years$3,285$2,534$1,932$1,458$1,090$580
25 years$3,120$2,378$1,789$1,331$981$505
26 years$2,968$2,235$1,659$1,217$884$440
27 years$2,827$2,103$1,541$1,114$797$384
28 years$2,697$1,982$1,432$1,021$719$335
29 years$2,576$1,870$1,333$936$649$293
30 years$2,463$1,766$1,242$859$587$255
31 years$2,358$1,669$1,158$789$530$223
32 years$2,259$1,579$1,080$725$480$195
33 years$2,167$1,496$1,008$667$434$170
34 years$2,080$1,418$942$613$393$149
35 years$1,999$1,345$881$565$356$130
36 years$1,922$1,276$824$520$323$114
37 years$1,849$1,212$771$479$292$100
38 years$1,781$1,152$722$442$265$87
39 years$1,716$1,095$677$407$240$76
40 years$1,654$1,042$634$376$218$67
41 years$1,596$992$595$347$198$58
42 years$1,541$945$558$320$179$51
43 years$1,488$900$524$295$163$45
44 years$1,438$858$491$273$148$39
45 years$1,390$818$461$252$134$34
46 years$1,344$781$433$233$122$30
47 years$1,301$745$407$215$111$26
48 years$1,259$711$383$199$100$23
49 years$1,219$679$360$183$91$20
50 years$1,181$649$338$170$83$18

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 $2,630 every year, while hoping to spend $26,228 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: 66/29/5 Blend
60$1,210,000$1,210,000$1,210,000$1,210,000
61$1,336,133$1,272,003$1,253,248$1,423,288
62$1,444,512$1,306,425$1,267,325$1,515,861
63$1,563,067$1,341,654$1,280,995$1,613,585
64$1,692,807$1,377,703$1,294,216$1,719,673
65$1,834,846$1,414,583$1,306,945$1,834,935
66$1,990,408$1,452,305$1,319,136$1,960,265
67$2,160,843$1,490,881$1,330,739$2,096,642
68$2,347,635$1,530,320$1,341,705$2,245,150
69$2,552,421$1,570,633$1,351,979$2,406,977
70$2,777,003$1,611,829$1,361,506$2,583,436
71$3,023,365$1,653,917$1,370,225$2,775,968
72$3,293,695$1,696,905$1,378,074$2,986,164
73$3,590,400$1,740,801$1,384,987$3,215,774
74$3,916,132$1,785,612$1,390,895$3,466,725
75$4,273,813$1,831,343$1,395,726$3,741,141
76$4,666,662$1,877,999$1,399,403$4,041,361
77$5,098,225$1,925,584$1,401,846$4,369,961
78$5,572,407$1,974,101$1,402,972$4,729,777
79$6,093,512$2,023,552$1,402,691$5,123,936
80$6,666,281$2,073,936$1,400,911$5,555,882
81$7,295,936$2,125,253$1,397,536$6,029,407
82$7,988,231$2,177,500$1,392,463$6,548,690
83$8,749,505$2,230,672$1,385,585$7,118,337
84$9,586,743$2,284,764$1,376,791$7,743,418
85$10,507,641$2,339,767$1,365,963$8,429,523
86$11,520,676$2,395,671$1,352,979$9,182,808
87$12,635,190$2,452,465$1,337,709$10,010,059
88$13,861,476$2,510,132$1,320,019$10,918,749
89$15,210,875$2,568,656$1,299,767$11,917,114
90$16,695,881$2,628,017$1,276,806$13,014,230
91$18,330,263$2,688,192$1,250,981$14,220,094
92$20,129,191$2,749,155$1,222,130$15,545,724
93$22,109,381$2,810,876$1,190,084$17,003,262
94$24,289,250$2,873,322$1,154,665$18,606,082
95$26,689,096$2,936,456$1,115,688$20,368,927
96$29,331,279$3,000,238$1,072,959$22,308,038
97$32,240,441$3,064,621$1,026,275$24,441,314
98$35,443,736$3,129,557$975,425$26,788,477
99$38,971,081$3,194,990$920,186$29,371,260
100$42,855,447$3,260,860$860,327$32,213,613