Can I retire at age 61 with 1,230,000?

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 $1,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$101,572$100,667$99,785$98,923$98,082$96,977
2 years$50,283$49,347$48,439$47,559$46,706$45,593
3 years$33,189$32,249$31,343$30,472$29,632$28,547
4 years$24,644$23,706$22,810$21,953$21,134$20,084
5 years$19,518$18,586$17,701$16,862$16,066$15,054
6 years$16,102$15,177$14,305$13,485$12,712$11,741
7 years$13,663$12,745$11,888$11,087$10,338$9,407
8 years$11,834$10,925$10,082$9,300$8,577$7,686
9 years$10,413$9,512$8,683$7,922$7,223$6,371
10 years$9,276$8,385$7,570$6,829$6,154$5,342
11 years$8,347$7,464$6,665$5,943$5,293$4,519
12 years$7,573$6,700$5,915$5,213$4,587$3,851
13 years$6,919$6,055$5,285$4,602$4,000$3,300
14 years$6,359$5,503$4,748$4,085$3,506$2,843
15 years$5,873$5,027$4,287$3,643$3,087$2,458
16 years$5,449$4,613$3,887$3,262$2,728$2,133
17 years$5,076$4,248$3,537$2,931$2,419$1,857
18 years$4,744$3,925$3,229$2,641$2,151$1,620
19 years$4,447$3,638$2,956$2,387$1,917$1,416
20 years$4,180$3,381$2,713$2,162$1,712$1,241
21 years$3,939$3,149$2,495$1,962$1,532$1,089
22 years$3,721$2,939$2,300$1,784$1,374$956
23 years$3,521$2,749$2,123$1,625$1,233$841
24 years$3,339$2,576$1,964$1,482$1,108$741
25 years$3,171$2,417$1,819$1,353$997$653
26 years$3,017$2,272$1,687$1,237$898$576
27 years$2,874$2,138$1,566$1,132$810$508
28 years$2,741$2,015$1,456$1,038$731$449
29 years$2,618$1,901$1,355$951$660$397
30 years$2,504$1,795$1,262$873$596$351
31 years$2,397$1,697$1,177$802$539$310
32 years$2,297$1,606$1,098$737$488$274
33 years$2,203$1,520$1,025$678$441$243
34 years$2,115$1,441$958$624$400$215
35 years$2,032$1,367$895$574$362$190
36 years$1,954$1,297$838$529$328$169
37 years$1,880$1,232$784$487$297$149
38 years$1,810$1,171$734$449$269$132
39 years$1,744$1,113$688$414$244$117
40 years$1,682$1,059$645$382$222$104
41 years$1,622$1,008$605$352$201$92
42 years$1,566$960$567$325$182$82
43 years$1,512$915$532$300$166$72
44 years$1,461$872$500$277$150$64
45 years$1,413$832$469$256$136$57
46 years$1,366$793$441$236$124$51
47 years$1,322$757$414$218$112$45
48 years$1,280$723$389$202$102$40
49 years$1,240$690$366$187$93$35
50 years$1,201$659$344$172$84$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,230,000, adding $5,559 every year, while hoping to spend $22,727 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: 24/50/26 Blend
60$1,230,000$1,230,000$1,230,000$1,230,000
61$1,361,194$1,296,004$1,276,939$1,382,558
62$1,475,855$1,335,327$1,295,535$1,440,231
63$1,601,449$1,375,815$1,313,993$1,499,688
64$1,739,068$1,417,501$1,332,283$1,562,910
65$1,889,913$1,460,419$1,350,375$1,630,225
66$2,055,309$1,504,605$1,368,237$1,701,992
67$2,236,713$1,550,093$1,385,836$1,778,607
68$2,435,731$1,596,920$1,403,134$1,860,503
69$2,654,131$1,645,125$1,420,095$1,948,159
70$2,893,862$1,694,745$1,436,677$2,042,100
71$3,157,068$1,745,821$1,452,838$2,142,901
72$3,446,115$1,798,392$1,468,534$2,251,197
73$3,763,606$1,852,500$1,483,717$2,367,687
74$4,112,410$1,908,188$1,498,338$2,493,137
75$4,495,686$1,965,500$1,512,343$2,628,393
76$4,916,917$2,024,480$1,525,677$2,774,384
77$5,379,937$2,085,175$1,538,282$2,932,133
78$5,888,973$2,147,630$1,550,096$3,102,765
79$6,448,679$2,211,895$1,561,055$3,287,520
80$7,064,184$2,278,018$1,571,091$3,487,762
81$7,741,140$2,346,050$1,580,132$3,704,992
82$8,485,772$2,416,043$1,588,102$3,940,864
83$9,304,941$2,488,048$1,594,923$4,197,199
84$10,206,203$2,562,121$1,600,511$4,476,003
85$11,197,888$2,638,317$1,604,780$4,779,482
86$12,289,169$2,716,691$1,607,638$5,110,069
87$13,490,158$2,797,303$1,608,987$5,470,443
88$14,811,994$2,880,211$1,608,728$5,863,553
89$16,266,951$2,965,475$1,606,754$6,292,649
90$17,868,554$3,053,157$1,602,954$6,761,310
91$19,631,706$3,143,320$1,597,212$7,273,481
92$21,572,826$3,236,029$1,589,405$7,833,504
93$23,710,009$3,331,350$1,579,405$8,446,167
94$26,063,193$3,429,348$1,567,077$9,116,739
95$28,654,346$3,530,094$1,552,282$9,851,032
96$31,507,677$3,633,657$1,534,872$10,655,443
97$34,649,862$3,740,108$1,514,691$11,537,025
98$38,110,294$3,849,519$1,491,580$12,503,546
99$41,921,364$3,961,965$1,465,368$13,563,567
100$46,118,763$4,077,522$1,435,877$14,726,519