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

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 $1,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$101,572$100,667$99,785$98,923$98,082$97,220
2 years$50,283$49,347$48,439$47,559$46,706$45,837
3 years$33,189$32,249$31,343$30,472$29,632$28,783
4 years$24,644$23,706$22,810$21,953$21,134$20,312
5 years$19,518$18,586$17,701$16,862$16,066$15,273
6 years$16,102$15,177$14,305$13,485$12,712$11,950
7 years$13,663$12,745$11,888$11,087$10,338$9,607
8 years$11,834$10,925$10,082$9,300$8,577$7,875
9 years$10,413$9,512$8,683$7,922$7,223$6,552
10 years$9,276$8,385$7,570$6,829$6,154$5,513
11 years$8,347$7,464$6,665$5,943$5,293$4,681
12 years$7,573$6,700$5,915$5,213$4,587$4,004
13 years$6,919$6,055$5,285$4,602$4,000$3,445
14 years$6,359$5,503$4,748$4,085$3,506$2,979
15 years$5,873$5,027$4,287$3,643$3,087$2,587
16 years$5,449$4,613$3,887$3,262$2,728$2,254
17 years$5,076$4,248$3,537$2,931$2,419$1,970
18 years$4,744$3,925$3,229$2,641$2,151$1,726
19 years$4,447$3,638$2,956$2,387$1,917$1,516
20 years$4,180$3,381$2,713$2,162$1,712$1,334
21 years$3,939$3,149$2,495$1,962$1,532$1,175
22 years$3,721$2,939$2,300$1,784$1,374$1,037
23 years$3,521$2,749$2,123$1,625$1,233$917
24 years$3,339$2,576$1,964$1,482$1,108$811
25 years$3,171$2,417$1,819$1,353$997$718
26 years$3,017$2,272$1,687$1,237$898$636
27 years$2,874$2,138$1,566$1,132$810$564
28 years$2,741$2,015$1,456$1,038$731$501
29 years$2,618$1,901$1,355$951$660$445
30 years$2,504$1,795$1,262$873$596$395
31 years$2,397$1,697$1,177$802$539$351
32 years$2,297$1,606$1,098$737$488$312
33 years$2,203$1,520$1,025$678$441$278
34 years$2,115$1,441$958$624$400$247
35 years$2,032$1,367$895$574$362$220
36 years$1,954$1,297$838$529$328$196
37 years$1,880$1,232$784$487$297$174
38 years$1,810$1,171$734$449$269$155
39 years$1,744$1,113$688$414$244$138
40 years$1,682$1,059$645$382$222$123
41 years$1,622$1,008$605$352$201$110
42 years$1,566$960$567$325$182$98
43 years$1,512$915$532$300$166$87
44 years$1,461$872$500$277$150$78
45 years$1,413$832$469$256$136$69
46 years$1,366$793$441$236$124$62
47 years$1,322$757$414$218$112$55
48 years$1,280$723$389$202$102$49
49 years$1,240$690$366$187$93$44
50 years$1,201$659$344$172$84$39

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 $4,863 every year, while hoping to spend $22,496 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: 45/26/29 Blend
60$1,230,000$1,230,000$1,230,000$1,230,000
61$1,360,476$1,295,286$1,276,221$1,410,096
62$1,475,309$1,334,820$1,295,039$1,485,443
63$1,601,101$1,375,536$1,313,733$1,564,583
64$1,738,946$1,417,470$1,332,276$1,649,988
65$1,890,049$1,460,657$1,350,638$1,742,257
66$2,055,737$1,505,132$1,368,787$1,842,048
67$2,237,472$1,550,933$1,386,691$1,950,087
68$2,436,863$1,598,098$1,404,314$2,067,170
69$2,655,684$1,646,665$1,421,620$2,194,179
70$2,895,888$1,696,676$1,438,568$2,332,080
71$3,159,626$1,748,171$1,455,118$2,481,938
72$3,449,269$1,801,192$1,471,225$2,644,929
73$3,767,428$1,855,784$1,486,844$2,822,345
74$4,116,978$1,911,990$1,501,926$3,015,609
75$4,501,088$1,969,856$1,516,419$3,226,290
76$4,923,249$2,029,429$1,530,269$3,456,116
77$5,387,307$2,090,757$1,543,419$3,706,990
78$5,897,498$2,153,890$1,555,810$3,981,008
79$6,458,489$2,218,877$1,567,376$4,280,480
80$7,075,425$2,285,772$1,578,053$4,607,950
81$7,753,971$2,354,627$1,587,770$4,966,223
82$8,500,369$2,425,497$1,596,454$5,358,386
83$9,321,497$2,498,437$1,604,026$5,787,843
84$10,224,935$2,573,506$1,610,406$6,258,343
85$11,219,032$2,650,761$1,615,507$6,774,017
86$12,312,987$2,730,262$1,619,241$7,339,417
87$13,516,939$2,812,073$1,621,513$7,959,559
88$14,842,057$2,896,254$1,622,224$8,639,970
89$16,300,649$2,982,872$1,621,270$9,386,739
90$17,906,275$3,071,993$1,618,543$10,206,577
91$19,673,878$3,163,683$1,613,927$11,106,879
92$21,619,923$3,258,013$1,607,303$12,095,791
93$23,762,552$3,355,054$1,598,545$13,182,294
94$26,121,758$3,454,877$1,587,522$14,376,281
95$28,719,570$3,557,558$1,574,096$15,688,656
96$31,580,259$3,663,172$1,558,121$17,131,433
97$34,730,575$3,771,796$1,539,448$18,717,852
98$38,199,990$3,883,511$1,517,916$20,462,503
99$42,020,983$3,998,397$1,493,360$22,381,465
100$46,229,343$4,116,537$1,465,607$24,492,456