Can I retire at age 61 with 1,320,000?

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 $1,320,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$109,004$108,033$107,086$106,161$105,259$104,639
2 years$53,963$52,958$51,984$51,039$50,123$49,498
3 years$35,618$34,608$33,637$32,701$31,800$31,189
4 years$26,447$25,441$24,479$23,559$22,680$22,088
5 years$20,946$19,946$18,997$18,096$17,241$16,669
6 years$17,280$16,287$15,352$14,471$13,642$13,091
7 years$14,662$13,678$12,758$11,898$11,095$10,565
8 years$12,700$11,725$10,820$9,981$9,204$8,696
9 years$11,175$10,208$9,319$8,501$7,751$7,264
10 years$9,955$8,998$8,124$7,328$6,604$6,138
11 years$8,958$8,011$7,153$6,378$5,680$5,234
12 years$8,127$7,190$6,348$5,594$4,922$4,497
13 years$7,425$6,498$5,671$4,939$4,292$3,887
14 years$6,824$5,906$5,096$4,384$3,763$3,376
15 years$6,303$5,395$4,601$3,910$3,313$2,946
16 years$5,848$4,950$4,171$3,501$2,928$2,579
17 years$5,447$4,559$3,796$3,146$2,596$2,265
18 years$5,091$4,213$3,465$2,835$2,308$1,994
19 years$4,772$3,904$3,172$2,561$2,057$1,760
20 years$4,486$3,628$2,911$2,320$1,838$1,557
21 years$4,228$3,379$2,678$2,105$1,645$1,379
22 years$3,993$3,154$2,468$1,914$1,474$1,223
23 years$3,779$2,950$2,279$1,743$1,323$1,087
24 years$3,583$2,764$2,107$1,590$1,189$966
25 years$3,403$2,594$1,952$1,452$1,070$860
26 years$3,237$2,438$1,810$1,328$964$767
27 years$3,084$2,294$1,681$1,215$869$684
28 years$2,942$2,162$1,563$1,114$784$610
29 years$2,810$2,040$1,454$1,021$708$545
30 years$2,687$1,926$1,355$937$640$487
31 years$2,572$1,821$1,263$861$579$435
32 years$2,465$1,723$1,178$791$523$389
33 years$2,364$1,632$1,100$727$474$348
34 years$2,269$1,546$1,028$669$429$312
35 years$2,180$1,467$961$616$388$279
36 years$2,096$1,392$899$567$352$250
37 years$2,017$1,322$841$523$319$224
38 years$1,943$1,257$788$482$289$201
39 years$1,872$1,195$738$444$262$180
40 years$1,805$1,137$692$410$238$161
41 years$1,741$1,082$649$378$216$144
42 years$1,681$1,031$609$349$196$129
43 years$1,623$982$571$322$178$116
44 years$1,568$936$536$297$161$104
45 years$1,516$893$503$275$146$93
46 years$1,466$852$473$254$133$84
47 years$1,419$813$444$234$121$75
48 years$1,374$776$417$217$110$67
49 years$1,330$741$392$200$100$60
50 years$1,289$708$369$185$90$54

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,320,000, adding $2,142 every year, while hoping to spend $39,565 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: 64/31/5 Blend
60$1,320,000$1,320,000$1,320,000$1,320,000
61$1,456,849$1,386,889$1,366,429$1,548,918
62$1,563,351$1,412,750$1,370,108$1,636,271
63$1,679,390$1,438,552$1,372,584$1,726,738
64$1,805,897$1,464,250$1,373,775$1,824,492
65$1,943,897$1,489,797$1,373,594$1,930,235
66$2,094,518$1,515,140$1,371,953$2,044,740
67$2,259,000$1,540,224$1,368,755$2,168,862
68$2,438,712$1,564,988$1,363,902$2,303,538
69$2,635,156$1,589,369$1,357,288$2,449,804
70$2,849,991$1,613,296$1,348,806$2,608,801
71$3,085,039$1,636,697$1,338,340$2,781,784
72$3,342,309$1,659,491$1,325,771$2,970,138
73$3,624,012$1,681,594$1,310,972$3,175,389
74$3,932,584$1,702,914$1,293,812$3,399,219
75$4,270,706$1,723,356$1,274,153$3,643,479
76$4,641,332$1,742,814$1,251,851$3,910,212
77$5,047,715$1,761,179$1,226,756$4,201,670
78$5,493,438$1,778,333$1,198,707$4,520,331
79$5,982,446$1,794,149$1,167,542$4,868,930
80$6,519,086$1,808,493$1,133,085$5,250,481
81$7,108,147$1,821,222$1,095,157$5,668,303
82$7,754,901$1,832,185$1,053,568$6,126,058
83$8,465,158$1,841,219$1,008,119$6,627,780
84$9,245,318$1,848,153$958,605$7,177,916
85$10,102,430$1,852,803$904,809$7,781,368
86$11,044,263$1,854,974$846,504$8,443,539
87$12,079,370$1,854,461$783,455$9,170,384
88$13,217,179$1,851,043$715,414$9,968,467
89$14,468,075$1,844,488$642,124$10,845,024
90$15,843,499$1,834,547$563,315$11,808,029
91$17,356,055$1,820,960$478,706$12,866,274
92$19,019,633$1,803,447$388,002$14,029,448
93$20,849,533$1,781,714$290,898$15,308,231
94$22,862,616$1,755,447$187,073$16,714,396
95$25,077,454$1,724,317$76,192$18,260,918
96$27,514,517$1,687,970$0$19,962,100
97$30,196,353$1,646,036$0$21,835,956
98$33,147,810$1,598,121$0$23,902,098
99$36,396,266$1,543,809$0$26,175,631
100$39,971,887$1,482,657$0$28,677,686