Can I retire at age 61 with 1,340,000?

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 $1,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$110,656$109,670$108,709$107,770$106,853$104,355
2 years$54,780$53,760$52,771$51,813$50,883$48,380
3 years$36,157$35,133$34,146$33,197$32,282$29,853
4 years$26,848$25,826$24,850$23,916$23,024$20,687
5 years$21,263$20,248$19,285$18,370$17,502$15,265
6 years$17,542$16,534$15,585$14,691$13,849$11,712
7 years$14,885$13,885$12,951$12,078$11,263$9,228
8 years$12,893$11,902$10,983$10,132$9,344$7,409
9 years$11,344$10,363$9,460$8,630$7,869$6,034
10 years$10,106$9,135$8,248$7,439$6,705$4,967
11 years$9,093$8,132$7,261$6,474$5,766$4,123
12 years$8,250$7,299$6,444$5,679$4,997$3,446
13 years$7,538$6,596$5,757$5,014$4,357$2,896
14 years$6,927$5,996$5,173$4,451$3,820$2,444
15 years$6,399$5,477$4,670$3,969$3,363$2,071
16 years$5,937$5,025$4,234$3,554$2,972$1,759
17 years$5,529$4,628$3,853$3,193$2,635$1,499
18 years$5,168$4,276$3,517$2,878$2,343$1,280
19 years$4,845$3,963$3,220$2,600$2,089$1,094
20 years$4,554$3,683$2,955$2,355$1,866$937
21 years$4,292$3,430$2,718$2,137$1,670$804
22 years$4,053$3,202$2,505$1,943$1,496$690
23 years$3,836$2,995$2,313$1,770$1,343$593
24 years$3,637$2,806$2,139$1,614$1,207$510
25 years$3,455$2,633$1,981$1,474$1,086$439
26 years$3,286$2,475$1,838$1,348$979$378
27 years$3,131$2,329$1,706$1,234$882$326
28 years$2,987$2,195$1,586$1,130$796$281
29 years$2,853$2,071$1,476$1,037$719$242
30 years$2,728$1,955$1,375$951$650$209
31 years$2,611$1,849$1,282$874$587$180
32 years$2,502$1,749$1,196$803$531$156
33 years$2,400$1,656$1,117$738$481$134
34 years$2,304$1,570$1,043$679$435$116
35 years$2,213$1,489$976$625$394$100
36 years$2,128$1,413$913$576$357$86
37 years$2,048$1,342$854$531$324$75
38 years$1,972$1,276$800$489$294$64
39 years$1,900$1,213$749$451$266$56
40 years$1,832$1,154$702$416$241$48
41 years$1,767$1,099$659$384$219$42
42 years$1,706$1,046$618$354$199$36
43 years$1,648$997$580$327$180$31
44 years$1,592$950$544$302$164$27
45 years$1,539$906$511$279$149$23
46 years$1,489$864$480$258$135$20
47 years$1,441$825$451$238$123$17
48 years$1,394$788$424$220$111$15
49 years$1,350$752$398$203$101$13
50 years$1,308$718$374$188$92$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,340,000, adding $4,168 every year, while hoping to spend $40,303 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: 42/39/19 Blend
60$1,340,000$1,340,000$1,340,000$1,340,000
61$1,480,979$1,409,959$1,389,189$1,534,779
62$1,589,157$1,436,165$1,392,845$1,599,511
63$1,707,018$1,462,304$1,395,272$1,665,324
64$1,835,508$1,488,331$1,396,388$1,735,756
65$1,975,666$1,514,196$1,396,103$1,811,251
66$2,128,638$1,539,846$1,394,327$1,892,299
67$2,295,684$1,565,223$1,390,962$1,979,440
68$2,478,192$1,590,266$1,385,907$2,073,272
69$2,677,688$1,614,910$1,379,055$2,174,455
70$2,895,854$1,639,083$1,370,295$2,283,715
71$3,134,542$1,662,709$1,359,511$2,401,855
72$3,395,791$1,685,707$1,346,580$2,529,763
73$3,681,845$1,707,990$1,331,374$2,668,416
74$3,995,176$1,729,464$1,313,758$2,818,895
75$4,338,508$1,750,032$1,293,593$2,982,391
76$4,714,837$1,769,585$1,270,730$3,160,220
77$5,127,467$1,788,012$1,245,016$3,353,833
78$5,580,035$1,805,190$1,216,290$3,564,833
79$6,076,546$1,820,992$1,184,383$3,794,989
80$6,621,412$1,835,279$1,149,118$4,046,251
81$7,219,494$1,847,905$1,110,312$4,320,774
82$7,876,145$1,858,715$1,067,770$4,620,934
83$8,597,263$1,867,544$1,021,292$4,949,353
84$9,389,344$1,874,214$970,665$5,308,924
85$10,259,545$1,878,538$915,670$5,702,841
86$11,215,750$1,880,318$856,077$6,134,625
87$12,266,644$1,879,341$791,643$6,608,163
88$13,421,797$1,875,383$722,118$7,127,742
89$14,691,749$1,868,207$647,238$7,698,094
90$16,088,116$1,857,557$566,729$8,324,436
91$17,623,694$1,843,167$480,304$9,012,525
92$19,312,580$1,824,752$387,663$9,768,710
93$21,170,307$1,802,008$288,494$10,599,997
94$23,213,989$1,774,618$182,470$11,514,111
95$25,462,483$1,742,241$69,250$12,519,575
96$27,936,565$1,704,519$0$13,625,787
97$30,659,125$1,661,071$0$14,853,572
98$33,655,387$1,611,495$0$16,219,567
99$36,953,142$1,555,364$0$17,722,408
100$40,583,012$1,492,227$0$19,376,082