Can I retire at age 61 with 1,300,000?

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 $1,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$107,353$106,397$105,464$104,553$103,664$101,571
2 years$53,145$52,155$51,196$50,266$49,364$47,264
3 years$35,078$34,084$33,127$32,206$31,318$29,278
4 years$26,046$25,055$24,108$23,202$22,337$20,371
5 years$20,629$19,644$18,709$17,822$16,980$15,094
6 years$17,018$16,041$15,120$14,252$13,436$11,632
7 years$14,440$13,471$12,564$11,718$10,927$9,206
8 years$12,508$11,547$10,656$9,830$9,065$7,427
9 years$11,005$10,054$9,178$8,373$7,634$6,077
10 years$9,804$8,862$8,001$7,217$6,504$5,027
11 years$8,822$7,889$7,044$6,281$5,594$4,194
12 years$8,004$7,081$6,252$5,509$4,848$3,524
13 years$7,313$6,399$5,585$4,864$4,227$2,977
14 years$6,720$5,817$5,018$4,318$3,706$2,527
15 years$6,208$5,314$4,531$3,851$3,263$2,152
16 years$5,759$4,875$4,108$3,448$2,884$1,839
17 years$5,364$4,490$3,738$3,098$2,557$1,576
18 years$5,014$4,149$3,412$2,792$2,273$1,353
19 years$4,700$3,845$3,124$2,523$2,026$1,164
20 years$4,418$3,573$2,867$2,285$1,810$1,003
21 years$4,164$3,328$2,637$2,074$1,620$866
22 years$3,932$3,107$2,430$1,885$1,452$748
23 years$3,722$2,906$2,244$1,717$1,303$647
24 years$3,529$2,722$2,075$1,566$1,171$560
25 years$3,352$2,555$1,922$1,430$1,054$485
26 years$3,188$2,401$1,783$1,308$949$420
27 years$3,037$2,260$1,655$1,197$856$364
28 years$2,897$2,129$1,539$1,097$772$316
29 years$2,767$2,009$1,432$1,006$697$274
30 years$2,646$1,897$1,334$923$630$238
31 years$2,533$1,793$1,244$848$570$207
32 years$2,427$1,697$1,160$779$515$180
33 years$2,328$1,607$1,083$716$466$156
34 years$2,235$1,523$1,012$659$422$136
35 years$2,147$1,445$946$607$382$118
36 years$2,065$1,371$885$559$347$103
37 years$1,987$1,302$829$515$314$89
38 years$1,913$1,238$776$475$285$78
39 years$1,843$1,177$727$438$258$68
40 years$1,777$1,120$681$404$234$59
41 years$1,715$1,066$639$372$212$51
42 years$1,655$1,015$599$344$193$44
43 years$1,598$967$562$317$175$39
44 years$1,545$922$528$293$159$34
45 years$1,493$879$496$271$144$29
46 years$1,444$839$466$250$131$25
47 years$1,398$800$437$231$119$22
48 years$1,353$764$411$213$108$19
49 years$1,310$730$386$197$98$17
50 years$1,269$697$363$182$89$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,300,000, adding $5,046 every year, while hoping to spend $22,811 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: 63/12/25 Blend
60$1,300,000$1,300,000$1,300,000$1,300,000
61$1,437,805$1,368,905$1,348,755$1,518,604
62$1,560,190$1,411,711$1,369,668$1,616,677
63$1,694,294$1,455,849$1,390,516$1,720,783
64$1,841,289$1,501,362$1,411,275$1,833,990
65$2,002,463$1,548,291$1,431,915$1,957,191
66$2,179,238$1,596,681$1,452,408$2,091,371
67$2,373,178$1,646,577$1,472,721$2,237,613
68$2,586,007$1,698,024$1,492,823$2,397,112
69$2,819,625$1,751,072$1,512,677$2,571,183
70$3,076,121$1,805,769$1,532,246$2,761,274
71$3,357,800$1,862,166$1,551,491$2,968,981
72$3,667,200$1,920,316$1,570,370$3,196,062
73$4,007,115$1,980,273$1,588,839$3,444,453
74$4,380,627$2,042,093$1,606,851$3,716,288
75$4,791,128$2,105,833$1,624,358$4,013,916
76$5,242,356$2,171,551$1,641,306$4,339,927
77$5,738,429$2,239,310$1,657,643$4,697,174
78$6,283,884$2,309,171$1,673,309$5,088,799
79$6,883,719$2,381,200$1,688,244$5,518,265
80$7,543,443$2,455,462$1,702,384$5,989,388
81$8,269,122$2,532,028$1,715,662$6,506,372
82$9,067,442$2,610,967$1,728,007$7,073,848
83$9,945,769$2,692,353$1,739,343$7,696,921
84$10,912,219$2,776,260$1,749,593$8,381,214
85$11,975,735$2,862,766$1,758,673$9,132,925
86$13,146,169$2,951,950$1,766,498$9,958,881
87$14,434,378$3,043,896$1,772,975$10,866,607
88$15,852,324$3,138,686$1,778,009$11,864,394
89$17,413,188$3,236,409$1,781,500$12,961,377
90$19,131,494$3,337,154$1,783,341$14,167,624
91$21,023,246$3,441,013$1,783,422$15,494,229
92$23,106,077$3,548,083$1,781,626$16,953,417
93$25,399,417$3,658,460$1,777,832$18,558,658
94$27,924,680$3,772,246$1,771,911$20,324,797
95$30,705,456$3,889,545$1,763,729$22,268,192
96$33,767,744$4,010,464$1,753,145$24,406,870
97$37,140,191$4,135,114$1,740,013$26,760,695
98$40,854,363$4,263,608$1,724,176$29,351,557
99$44,945,047$4,396,063$1,705,475$32,203,580
100$49,450,571$4,532,599$1,683,738$35,343,345