Can I retire at age 61 with 1,240,000?

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 $1,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$102,398$101,486$100,596$99,727$98,879$97,042
2 years$50,692$49,748$48,833$47,946$47,085$45,241
3 years$33,459$32,511$31,598$30,719$29,873$28,079
4 years$24,844$23,899$22,995$22,132$21,306$19,576
5 years$19,677$18,737$17,845$16,999$16,196$14,536
6 years$16,233$15,300$14,422$13,594$12,815$11,227
7 years$13,774$12,849$11,985$11,177$10,422$8,905
8 years$11,930$11,014$10,164$9,376$8,646$7,200
9 years$10,497$9,590$8,754$7,986$7,282$5,906
10 years$9,352$8,453$7,632$6,884$6,204$4,898
11 years$8,415$7,525$6,719$5,991$5,336$4,097
12 years$7,635$6,754$5,963$5,255$4,624$3,451
13 years$6,975$6,104$5,328$4,640$4,032$2,923
14 years$6,410$5,548$4,787$4,118$3,535$2,487
15 years$5,921$5,068$4,322$3,673$3,112$2,125
16 years$5,494$4,650$3,918$3,289$2,750$1,821
17 years$5,117$4,283$3,566$2,955$2,439$1,565
18 years$4,782$3,957$3,255$2,663$2,168$1,348
19 years$4,483$3,668$2,980$2,406$1,933$1,163
20 years$4,214$3,408$2,735$2,179$1,726$1,005
21 years$3,971$3,174$2,515$1,978$1,545$870
22 years$3,751$2,963$2,318$1,798$1,385$754
23 years$3,550$2,771$2,141$1,638$1,243$654
24 years$3,366$2,597$1,980$1,494$1,117$568
25 years$3,197$2,437$1,834$1,364$1,005$493
26 years$3,041$2,290$1,701$1,247$906$429
27 years$2,897$2,155$1,579$1,142$817$373
28 years$2,764$2,031$1,468$1,046$737$325
29 years$2,640$1,916$1,366$959$665$283
30 years$2,524$1,810$1,272$880$601$246
31 years$2,416$1,711$1,186$809$543$215
32 years$2,315$1,619$1,107$743$492$187
33 years$2,221$1,533$1,033$683$445$163
34 years$2,132$1,453$966$629$403$142
35 years$2,048$1,378$903$579$365$124
36 years$1,969$1,308$844$533$331$108
37 years$1,895$1,242$790$491$300$94
38 years$1,825$1,180$740$453$272$82
39 years$1,758$1,123$693$417$246$72
40 years$1,695$1,068$650$385$223$63
41 years$1,635$1,017$609$355$203$55
42 years$1,579$968$572$328$184$48
43 years$1,525$922$536$303$167$42
44 years$1,473$879$504$279$152$36
45 years$1,424$839$473$258$138$32
46 years$1,378$800$444$238$125$28
47 years$1,333$763$417$220$113$24
48 years$1,290$729$392$203$103$21
49 years$1,250$696$369$188$94$19
50 years$1,211$665$346$174$85$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,240,000, adding $6,607 every year, while hoping to spend $43,619 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: 61/10/29 Blend
60$1,240,000$1,240,000$1,240,000$1,240,000
61$1,373,295$1,307,575$1,288,355$1,445,937
62$1,466,961$1,325,236$1,285,105$1,513,869
63$1,568,719$1,342,300$1,280,284$1,582,730
64$1,679,348$1,358,693$1,273,793$1,656,987
65$1,799,706$1,374,333$1,265,529$1,737,177
66$1,930,736$1,389,135$1,255,384$1,823,894
67$2,073,475$1,403,008$1,243,245$1,917,790
68$2,229,068$1,415,853$1,228,991$2,019,589
69$2,398,769$1,427,567$1,212,499$2,130,087
70$2,583,964$1,438,038$1,193,638$2,250,164
71$2,786,175$1,447,148$1,172,272$2,380,790
72$3,007,079$1,454,773$1,148,257$2,523,037
73$3,248,522$1,460,777$1,121,444$2,678,087
74$3,512,536$1,465,020$1,091,677$2,847,243
75$3,801,358$1,467,349$1,058,792$3,031,946
76$4,117,452$1,467,605$1,022,617$3,233,783
77$4,463,530$1,465,616$982,973$3,454,507
78$4,842,581$1,461,202$939,673$3,696,051
79$5,257,894$1,454,170$892,522$3,960,548
80$5,713,092$1,444,317$841,314$4,250,350
81$6,212,165$1,431,426$785,835$4,568,053
82$6,759,508$1,415,269$725,863$4,916,521
83$7,359,962$1,395,601$661,164$5,298,912
84$8,018,858$1,372,165$591,493$5,718,711
85$8,742,069$1,344,689$516,595$6,179,760
86$9,536,065$1,312,883$436,206$6,686,299
87$10,407,970$1,276,441$350,045$7,243,001
88$11,365,635$1,235,039$257,824$7,855,024
89$12,417,708$1,188,334$159,240$8,528,053
90$13,573,715$1,135,963$53,975$9,268,360
91$14,844,151$1,077,542$0$10,082,861
92$16,240,577$1,012,665$0$10,997,242
93$17,775,733$940,902$0$12,020,850
94$19,463,650$861,799$0$13,146,351
95$21,319,791$774,875$0$14,384,089
96$23,361,190$679,625$0$15,745,460
97$25,606,616$575,510$0$17,243,023
98$28,076,746$461,966$0$18,890,618
99$30,794,364$338,393$0$20,703,498
100$33,784,574$204,159$0$22,698,469