Can I retire at age 61 with 1,420,000?

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 $1,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$117,262$116,218$115,199$114,204$113,233$111,864
2 years$58,051$56,969$55,922$54,906$53,920$52,543
3 years$38,316$37,230$36,185$35,179$34,209$32,866
4 years$28,451$27,368$26,333$25,344$24,398$23,100
5 years$22,533$21,457$20,436$19,467$18,547$17,297
6 years$18,589$17,521$16,515$15,568$14,676$13,475
7 years$15,773$14,714$13,724$12,799$11,935$10,785
8 years$13,662$12,613$11,639$10,737$9,902$8,801
9 years$12,021$10,982$10,025$9,145$8,339$7,287
10 years$10,709$9,680$8,740$7,883$7,105$6,103
11 years$9,636$8,617$7,694$6,861$6,110$5,156
12 years$8,743$7,735$6,829$6,018$5,295$4,388
13 years$7,988$6,990$6,101$5,313$4,617$3,756
14 years$7,341$6,354$5,482$4,716$4,048$3,231
15 years$6,781$5,804$4,949$4,206$3,564$2,790
16 years$6,291$5,325$4,487$3,766$3,150$2,418
17 years$5,860$4,904$4,083$3,384$2,793$2,101
18 years$5,476$4,532$3,727$3,049$2,483$1,831
19 years$5,134$4,200$3,412$2,755$2,213$1,599
20 years$4,826$3,903$3,132$2,496$1,977$1,398
21 years$4,548$3,635$2,880$2,265$1,769$1,225
22 years$4,295$3,393$2,655$2,059$1,586$1,074
23 years$4,065$3,174$2,451$1,875$1,424$944
24 years$3,855$2,974$2,267$1,711$1,280$830
25 years$3,661$2,791$2,100$1,562$1,151$730
26 years$3,483$2,623$1,947$1,428$1,037$643
27 years$3,318$2,468$1,808$1,307$935$567
28 years$3,165$2,326$1,681$1,198$844$500
29 years$3,023$2,194$1,564$1,098$762$441
30 years$2,891$2,072$1,457$1,008$688$389
31 years$2,767$1,959$1,358$926$622$344
32 years$2,651$1,854$1,267$851$563$303
33 years$2,543$1,755$1,183$782$509$268
34 years$2,441$1,664$1,106$720$461$237
35 years$2,346$1,578$1,034$663$418$210
36 years$2,255$1,498$967$610$379$185
37 years$2,170$1,422$905$562$343$164
38 years$2,090$1,352$848$518$311$145
39 years$2,014$1,285$794$478$282$128
40 years$1,941$1,223$744$441$256$113
41 years$1,873$1,164$698$407$232$100
42 years$1,808$1,109$655$375$211$89
43 years$1,746$1,056$614$347$191$79
44 years$1,687$1,007$577$320$173$70
45 years$1,631$960$541$295$158$62
46 years$1,578$916$509$273$143$55
47 years$1,527$874$478$252$130$48
48 years$1,478$835$449$233$118$43
49 years$1,431$797$422$215$107$38
50 years$1,386$761$397$199$97$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,420,000, adding $5,406 every year, while hoping to spend $37,623 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: 67/16/17 Blend
60$1,420,000$1,420,000$1,420,000$1,420,000
61$1,570,416$1,495,156$1,473,146$1,668,816
62$1,690,568$1,528,388$1,482,466$1,768,478
63$1,821,715$1,561,988$1,490,837$1,872,522
64$1,964,937$1,595,933$1,498,188$1,985,365
65$2,121,427$1,630,200$1,504,443$2,107,867
66$2,292,495$1,664,762$1,509,524$2,240,980
67$2,479,584$1,699,590$1,513,348$2,385,750
68$2,684,284$1,734,652$1,515,828$2,543,329
69$2,908,344$1,769,913$1,516,871$2,714,988
70$3,153,692$1,805,336$1,516,383$2,902,126
71$3,422,449$1,840,878$1,514,262$3,106,285
72$3,716,952$1,876,494$1,510,404$3,329,165
73$4,039,775$1,912,137$1,504,697$3,572,639
74$4,393,753$1,947,752$1,497,024$3,838,769
75$4,782,007$1,983,283$1,487,266$4,129,831
76$5,207,976$2,018,668$1,475,293$4,448,331
77$5,675,446$2,053,840$1,460,973$4,797,030
78$6,188,591$2,088,727$1,444,165$5,178,972
79$6,752,006$2,123,253$1,424,722$5,597,512
80$7,370,752$2,157,334$1,402,493$6,056,347
81$8,050,407$2,190,882$1,377,314$6,559,551
82$8,797,114$2,223,800$1,349,019$7,111,614
83$9,617,640$2,255,987$1,317,432$7,717,486
84$10,519,441$2,287,332$1,282,368$8,382,620
85$11,510,731$2,317,719$1,243,634$9,113,028
86$12,600,560$2,347,021$1,201,030$9,915,335
87$13,798,896$2,375,104$1,154,344$10,796,843
88$15,116,725$2,401,825$1,103,356$11,765,600
89$16,566,148$2,427,032$1,047,835$12,830,474
90$18,160,499$2,450,561$987,542$14,001,242
91$19,914,469$2,472,237$922,223$15,288,676
92$21,844,244$2,491,876$851,617$16,704,651
93$23,967,659$2,509,280$775,448$18,262,253
94$26,304,364$2,524,239$693,430$19,975,907
95$28,876,012$2,536,529$605,262$21,861,508
96$31,706,458$2,545,912$510,631$23,936,575
97$34,821,990$2,552,135$409,211$26,220,419
98$38,251,573$2,554,930$300,660$28,734,321
99$42,027,123$2,554,010$184,621$31,501,733
100$46,183,806$2,549,073$60,722$34,548,507