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

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
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%12.1%
1 years$117,262$116,218$115,199$114,204$113,233$112,237
2 years$58,051$56,969$55,922$54,906$53,920$52,917
3 years$38,316$37,230$36,185$35,179$34,209$33,229
4 years$28,451$27,368$26,333$25,344$24,398$23,450
5 years$22,533$21,457$20,436$19,467$18,547$17,632
6 years$18,589$17,521$16,515$15,568$14,676$13,796
7 years$15,773$14,714$13,724$12,799$11,935$11,090
8 years$13,662$12,613$11,639$10,737$9,902$9,092
9 years$12,021$10,982$10,025$9,145$8,339$7,564
10 years$10,709$9,680$8,740$7,883$7,105$6,365
11 years$9,636$8,617$7,694$6,861$6,110$5,404
12 years$8,743$7,735$6,829$6,018$5,295$4,623
13 years$7,988$6,990$6,101$5,313$4,617$3,977
14 years$7,341$6,354$5,482$4,716$4,048$3,439
15 years$6,781$5,804$4,949$4,206$3,564$2,987
16 years$6,291$5,325$4,487$3,766$3,150$2,602
17 years$5,860$4,904$4,083$3,384$2,793$2,274
18 years$5,476$4,532$3,727$3,049$2,483$1,993
19 years$5,134$4,200$3,412$2,755$2,213$1,750
20 years$4,826$3,903$3,132$2,496$1,977$1,540
21 years$4,548$3,635$2,880$2,265$1,769$1,357
22 years$4,295$3,393$2,655$2,059$1,586$1,198
23 years$4,065$3,174$2,451$1,875$1,424$1,058
24 years$3,855$2,974$2,267$1,711$1,280$936
25 years$3,661$2,791$2,100$1,562$1,151$829
26 years$3,483$2,623$1,947$1,428$1,037$735
27 years$3,318$2,468$1,808$1,307$935$652
28 years$3,165$2,326$1,681$1,198$844$578
29 years$3,023$2,194$1,564$1,098$762$513
30 years$2,891$2,072$1,457$1,008$688$456
31 years$2,767$1,959$1,358$926$622$405
32 years$2,651$1,854$1,267$851$563$361
33 years$2,543$1,755$1,183$782$509$321
34 years$2,441$1,664$1,106$720$461$285
35 years$2,346$1,578$1,034$663$418$254
36 years$2,255$1,498$967$610$379$226
37 years$2,170$1,422$905$562$343$201
38 years$2,090$1,352$848$518$311$179
39 years$2,014$1,285$794$478$282$160
40 years$1,941$1,223$744$441$256$142
41 years$1,873$1,164$698$407$232$127
42 years$1,808$1,109$655$375$211$113
43 years$1,746$1,056$614$347$191$101
44 years$1,687$1,007$577$320$173$90
45 years$1,631$960$541$295$158$80
46 years$1,578$916$509$273$143$71
47 years$1,527$874$478$252$130$64
48 years$1,478$835$449$233$118$57
49 years$1,431$797$422$215$107$51
50 years$1,386$761$397$199$97$45

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 $6,610 every year, while hoping to spend $52,801 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: 61/26/13 Blend
60$1,420,000$1,420,000$1,420,000$1,420,000
61$1,571,658$1,496,398$1,474,388$1,662,178
62$1,675,787$1,513,542$1,467,600$1,740,937
63$1,788,768$1,529,756$1,458,815$1,820,267
64$1,911,448$1,544,939$1,447,911$1,905,555
65$2,044,758$1,558,983$1,434,758$1,997,381
66$2,189,723$1,571,773$1,419,222$2,096,385
67$2,347,471$1,583,187$1,401,163$2,203,272
68$2,519,243$1,593,093$1,380,432$2,318,821
69$2,706,404$1,601,353$1,356,875$2,443,891
70$2,910,457$1,607,819$1,330,330$2,579,431
71$3,133,056$1,612,334$1,300,627$2,726,487
72$3,376,019$1,614,730$1,267,591$2,886,213
73$3,641,352$1,614,831$1,231,034$3,059,882
74$3,931,260$1,612,448$1,190,764$3,248,901
75$4,248,171$1,607,380$1,146,576$3,454,819
76$4,594,759$1,599,415$1,098,261$3,679,349
77$4,973,966$1,588,329$1,045,594$3,924,376
78$5,389,035$1,573,881$988,346$4,191,985
79$5,843,534$1,555,819$926,273$4,484,473
80$6,341,393$1,533,873$859,122$4,804,374
81$6,886,942$1,507,759$786,629$5,154,486
82$7,484,946$1,477,176$708,518$5,537,894
83$8,140,656$1,441,803$624,499$5,958,000
84$8,859,855$1,401,303$534,271$6,418,560
85$9,648,910$1,355,317$437,519$6,923,716
86$10,514,838$1,303,466$333,915$7,478,035
87$11,465,365$1,245,350$223,115$8,086,556
88$12,509,003$1,180,543$104,760$8,754,838
89$13,655,129$1,108,597$0$9,489,012
90$14,914,071$1,029,037$0$10,298,827
91$16,297,208$941,362$0$11,204,455
92$17,817,075$845,040$0$12,199,630
93$19,487,481$739,511$0$13,293,481
94$21,323,640$624,183$0$14,496,075
95$23,342,313$498,430$0$15,818,506
96$25,561,966$361,590$0$17,273,009
97$28,002,943$212,965$0$18,873,067
98$30,687,661$51,818$0$20,633,549
99$33,640,815$0$0$22,570,841
100$36,889,616$0$0$24,738,097