Can I retire at age 61 with 1,220,000?

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 $1,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$100,746$99,849$98,974$98,119$97,285$96,269
2 years$49,874$48,946$48,045$47,173$46,326$45,303
3 years$32,919$31,987$31,089$30,224$29,391$28,393
4 years$24,443$23,513$22,625$21,775$20,962$19,996
5 years$19,359$18,435$17,558$16,725$15,935$15,004
6 years$15,971$15,053$14,189$13,375$12,609$11,714
7 years$13,552$12,642$11,791$10,996$10,254$9,396
8 years$11,738$10,836$10,000$9,225$8,507$7,685
9 years$10,328$9,435$8,613$7,857$7,164$6,379
10 years$9,201$8,317$7,509$6,773$6,104$5,355
11 years$8,279$7,404$6,611$5,895$5,250$4,535
12 years$7,512$6,645$5,867$5,170$4,549$3,869
13 years$6,863$6,005$5,242$4,565$3,967$3,321
14 years$6,307$5,459$4,710$4,052$3,478$2,864
15 years$5,826$4,987$4,252$3,614$3,062$2,480
16 years$5,405$4,575$3,855$3,236$2,706$2,155
17 years$5,034$4,213$3,508$2,907$2,399$1,878
18 years$4,705$3,893$3,202$2,620$2,133$1,641
19 years$4,411$3,608$2,932$2,367$1,902$1,437
20 years$4,146$3,353$2,691$2,144$1,699$1,261
21 years$3,907$3,123$2,475$1,946$1,520$1,108
22 years$3,690$2,915$2,281$1,769$1,362$975
23 years$3,493$2,727$2,106$1,611$1,223$859
24 years$3,312$2,555$1,948$1,470$1,099$757
25 years$3,145$2,398$1,804$1,342$989$668
26 years$2,992$2,253$1,673$1,227$891$591
27 years$2,850$2,121$1,554$1,123$803$522
28 years$2,719$1,998$1,444$1,029$725$462
29 years$2,597$1,885$1,344$944$655$409
30 years$2,483$1,780$1,252$866$591$362
31 years$2,377$1,683$1,167$795$535$321
32 years$2,278$1,592$1,089$731$484$284
33 years$2,185$1,508$1,017$672$438$252
34 years$2,097$1,429$950$619$396$223
35 years$2,015$1,356$888$569$359$198
36 years$1,938$1,287$831$524$325$176
37 years$1,864$1,222$778$483$295$156
38 years$1,795$1,161$728$445$267$139
39 years$1,730$1,104$682$411$242$123
40 years$1,668$1,051$640$379$220$109
41 years$1,609$1,000$600$349$199$97
42 years$1,553$953$563$323$181$86
43 years$1,500$908$528$298$164$76
44 years$1,450$865$495$275$149$68
45 years$1,401$825$465$254$135$60
46 years$1,355$787$437$234$123$54
47 years$1,312$751$411$217$112$48
48 years$1,270$717$386$200$101$42
49 years$1,230$685$363$185$92$38
50 years$1,191$654$341$171$84$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,220,000, adding $3,010 every year, while hoping to spend $32,478 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: 75/11/14 Blend
60$1,220,000$1,220,000$1,220,000$1,220,000
61$1,347,545$1,282,885$1,263,975$1,444,394
62$1,450,438$1,311,190$1,271,762$1,537,088
63$1,562,738$1,339,793$1,278,721$1,634,306
64$1,685,369$1,368,675$1,284,790$1,739,969
65$1,819,351$1,397,815$1,289,905$1,854,908
66$1,965,805$1,427,187$1,293,996$1,980,036
67$2,125,964$1,456,766$1,296,992$2,116,361
68$2,301,188$1,486,524$1,298,818$2,264,992
69$2,492,974$1,516,429$1,299,393$2,427,150
70$2,702,970$1,546,446$1,298,635$2,604,183
71$2,932,990$1,576,539$1,296,457$2,797,573
72$3,185,034$1,606,668$1,292,766$3,008,954
73$3,461,301$1,636,789$1,287,468$3,240,127
74$3,764,217$1,666,855$1,280,461$3,493,075
75$4,096,451$1,696,814$1,271,640$3,769,983
76$4,460,944$1,726,613$1,260,895$4,073,261
77$4,860,934$1,756,191$1,248,109$4,405,562
78$5,299,990$1,785,485$1,233,162$4,769,809
79$5,782,042$1,814,427$1,215,925$5,169,226
80$6,311,419$1,842,943$1,196,268$5,607,362
81$6,892,890$1,870,953$1,174,049$6,088,130
82$7,531,709$1,898,374$1,149,124$6,615,841
83$8,233,664$1,925,115$1,121,340$7,195,247
84$9,005,130$1,951,078$1,090,537$7,831,584
85$9,853,132$1,976,159$1,056,549$8,530,620
86$10,785,409$2,000,248$1,019,200$9,298,715
87$11,810,486$2,023,226$978,310$10,142,875
88$12,937,758$2,044,967$933,685$11,070,822
89$14,177,574$2,065,334$885,128$12,091,065
90$15,541,336$2,084,185$832,429$13,212,983
91$17,041,608$2,101,366$775,371$14,446,908
92$18,692,232$2,116,712$713,726$15,804,232
93$20,508,459$2,130,051$647,255$17,297,504
94$22,507,094$2,141,196$575,711$18,940,557
95$24,706,654$2,149,951$498,833$20,748,634
96$27,127,540$2,156,105$416,351$22,738,534
97$29,792,231$2,159,437$327,981$24,928,771
98$32,725,498$2,159,708$233,428$27,339,745
99$35,954,633$2,156,669$132,382$29,993,942
100$39,509,711$2,150,051$24,523$32,916,141