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

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 $1,240,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$102,398$101,486$100,596$99,727$98,879$97,928
2 years$50,692$49,748$48,833$47,946$47,085$46,127
3 years$33,459$32,511$31,598$30,719$29,873$28,938
4 years$24,844$23,899$22,995$22,132$21,306$20,400
5 years$19,677$18,737$17,845$16,999$16,196$15,323
6 years$16,233$15,300$14,422$13,594$12,815$11,976
7 years$13,774$12,849$11,985$11,177$10,422$9,617
8 years$11,930$11,014$10,164$9,376$8,646$7,875
9 years$10,497$9,590$8,754$7,986$7,282$6,544
10 years$9,352$8,453$7,632$6,884$6,204$5,500
11 years$8,415$7,525$6,719$5,991$5,336$4,664
12 years$7,635$6,754$5,963$5,255$4,624$3,984
13 years$6,975$6,104$5,328$4,640$4,032$3,424
14 years$6,410$5,548$4,787$4,118$3,535$2,957
15 years$5,921$5,068$4,322$3,673$3,112$2,564
16 years$5,494$4,650$3,918$3,289$2,750$2,231
17 years$5,117$4,283$3,566$2,955$2,439$1,947
18 years$4,782$3,957$3,255$2,663$2,168$1,704
19 years$4,483$3,668$2,980$2,406$1,933$1,494
20 years$4,214$3,408$2,735$2,179$1,726$1,313
21 years$3,971$3,174$2,515$1,978$1,545$1,155
22 years$3,751$2,963$2,318$1,798$1,385$1,018
23 years$3,550$2,771$2,141$1,638$1,243$898
24 years$3,366$2,597$1,980$1,494$1,117$793
25 years$3,197$2,437$1,834$1,364$1,005$701
26 years$3,041$2,290$1,701$1,247$906$621
27 years$2,897$2,155$1,579$1,142$817$549
28 years$2,764$2,031$1,468$1,046$737$487
29 years$2,640$1,916$1,366$959$665$432
30 years$2,524$1,810$1,272$880$601$383
31 years$2,416$1,711$1,186$809$543$340
32 years$2,315$1,619$1,107$743$492$302
33 years$2,221$1,533$1,033$683$445$268
34 years$2,132$1,453$966$629$403$238
35 years$2,048$1,378$903$579$365$211
36 years$1,969$1,308$844$533$331$188
37 years$1,895$1,242$790$491$300$167
38 years$1,825$1,180$740$453$272$148
39 years$1,758$1,123$693$417$246$132
40 years$1,695$1,068$650$385$223$117
41 years$1,635$1,017$609$355$203$104
42 years$1,579$968$572$328$184$93
43 years$1,525$922$536$303$167$83
44 years$1,473$879$504$279$152$74
45 years$1,424$839$473$258$138$65
46 years$1,378$800$444$238$125$58
47 years$1,333$763$417$220$113$52
48 years$1,290$729$392$203$103$46
49 years$1,250$696$369$188$94$41
50 years$1,211$665$346$174$85$37

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 $5,293 every year, while hoping to spend $22,311 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: 63/29/8 Blend
60$1,240,000$1,240,000$1,240,000$1,240,000
61$1,371,940$1,306,220$1,287,000$1,455,814
62$1,488,139$1,346,486$1,306,375$1,552,707
63$1,615,443$1,387,977$1,325,653$1,655,366
64$1,754,960$1,430,730$1,344,804$1,766,879
65$1,907,912$1,474,782$1,363,802$1,888,104
66$2,075,645$1,520,173$1,382,615$2,019,985
67$2,259,640$1,566,940$1,401,212$2,163,559
68$2,461,530$1,615,127$1,419,558$2,319,969
69$2,683,111$1,664,773$1,437,619$2,490,473
70$2,926,365$1,715,924$1,455,356$2,676,457
71$3,193,472$1,768,622$1,472,728$2,879,444
72$3,486,836$1,822,914$1,489,694$3,101,114
73$3,809,103$1,878,846$1,506,209$3,343,315
74$4,163,189$1,936,468$1,522,225$3,608,081
75$4,552,308$1,995,828$1,537,692$3,897,655
76$4,979,997$2,056,977$1,552,559$4,214,505
77$5,450,156$2,119,969$1,566,769$4,561,349
78$5,967,081$2,184,856$1,580,265$4,941,181
79$6,535,504$2,251,695$1,592,984$5,357,299
80$7,160,640$2,320,542$1,604,863$5,813,334
81$7,848,232$2,391,455$1,615,833$6,313,288
82$8,604,610$2,464,496$1,625,822$6,861,566
83$9,436,749$2,539,724$1,634,756$7,463,024
84$10,352,332$2,617,205$1,642,555$8,123,008
85$11,359,825$2,697,003$1,649,135$8,847,409
86$12,468,556$2,779,185$1,654,410$9,642,717
87$13,688,803$2,863,820$1,658,288$10,516,081
88$15,031,892$2,950,978$1,660,671$11,475,378
89$16,510,302$3,040,733$1,661,460$12,529,283
90$18,137,781$3,133,157$1,660,548$13,687,359
91$19,929,482$3,228,329$1,657,823$14,960,136
92$21,902,097$3,326,325$1,653,169$16,359,220
93$24,074,024$3,427,228$1,646,462$17,897,397
94$26,465,531$3,531,119$1,637,576$19,588,753
95$29,098,955$3,638,083$1,626,374$21,448,811
96$31,998,907$3,748,208$1,612,716$23,494,672
97$35,192,507$3,861,582$1,596,454$25,745,181
98$38,709,641$3,978,298$1,577,433$28,221,099
99$42,583,238$4,098,448$1,555,491$30,945,305
100$46,849,587$4,222,131$1,530,459$33,943,007