Can I retire at age 61 with 1,440,000?

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 $1,440,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$118,914$117,855$116,821$115,813$114,828$112,601
2 years$58,868$57,772$56,709$55,679$54,680$52,446
3 years$38,856$37,755$36,695$35,674$34,691$32,519
4 years$28,851$27,754$26,704$25,701$24,742$22,649
5 years$22,850$21,759$20,724$19,741$18,808$16,800
6 years$18,851$17,768$16,748$15,787$14,883$12,961
7 years$15,995$14,922$13,917$12,979$12,103$10,269
8 years$13,855$12,791$11,803$10,888$10,041$8,294
9 years$12,191$11,136$10,166$9,274$8,456$6,795
10 years$10,860$9,816$8,863$7,994$7,205$5,628
11 years$9,772$8,739$7,803$6,958$6,196$4,702
12 years$8,866$7,843$6,925$6,103$5,370$3,955
13 years$8,100$7,088$6,187$5,388$4,683$3,346
14 years$7,444$6,443$5,559$4,783$4,105$2,843
15 years$6,876$5,886$5,019$4,265$3,614$2,425
16 years$6,380$5,400$4,550$3,819$3,194$2,076
17 years$5,942$4,973$4,141$3,431$2,832$1,781
18 years$5,554$4,596$3,780$3,092$2,518$1,532
19 years$5,206$4,259$3,460$2,794$2,245$1,320
20 years$4,894$3,958$3,176$2,531$2,005$1,139
21 years$4,612$3,687$2,921$2,297$1,794$984
22 years$4,356$3,441$2,692$2,088$1,608$852
23 years$4,123$3,218$2,486$1,902$1,444$738
24 years$3,909$3,016$2,299$1,735$1,298$639
25 years$3,713$2,830$2,129$1,584$1,168$555
26 years$3,532$2,660$1,975$1,448$1,052$482
27 years$3,364$2,503$1,834$1,326$948$418
28 years$3,209$2,359$1,705$1,215$856$364
29 years$3,065$2,225$1,586$1,114$773$316
30 years$2,931$2,101$1,478$1,022$698$275
31 years$2,806$1,986$1,378$939$631$239
32 years$2,689$1,880$1,285$863$571$208
33 years$2,579$1,780$1,200$794$517$181
34 years$2,476$1,687$1,121$730$468$158
35 years$2,379$1,600$1,048$672$424$137
36 years$2,287$1,519$981$619$384$120
37 years$2,201$1,442$918$570$348$104
38 years$2,119$1,371$860$526$315$91
39 years$2,042$1,304$805$485$286$79
40 years$1,969$1,240$755$447$259$69
41 years$1,899$1,181$708$412$235$60
42 years$1,833$1,124$664$381$214$52
43 years$1,771$1,071$623$351$194$46
44 years$1,711$1,021$585$324$176$40
45 years$1,654$974$549$300$160$35
46 years$1,600$929$516$277$145$30
47 years$1,548$886$485$256$132$26
48 years$1,499$846$455$236$120$23
49 years$1,451$808$428$218$109$20
50 years$1,406$772$402$202$99$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,440,000, adding $4,177 every year, while hoping to spend $34,815 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: 74/15/11 Blend
60$1,440,000$1,440,000$1,440,000$1,440,000
61$1,591,189$1,514,869$1,492,549$1,705,255
62$1,716,447$1,552,054$1,505,506$1,818,302
63$1,853,315$1,589,895$1,517,731$1,937,360
64$2,002,940$1,628,387$1,529,161$2,066,836
65$2,166,584$1,667,523$1,539,733$2,207,753
66$2,345,641$1,707,296$1,549,379$2,361,235
67$2,541,639$1,747,697$1,558,027$2,528,523
68$2,756,268$1,788,715$1,565,602$2,710,981
69$2,991,382$1,830,338$1,572,025$2,910,114
70$3,249,029$1,872,550$1,577,213$3,127,577
71$3,531,460$1,915,335$1,581,080$3,365,195
72$3,841,157$1,958,674$1,583,534$3,624,978
73$4,180,852$2,002,546$1,584,479$3,909,141
74$4,553,554$2,046,926$1,583,814$4,220,121
75$4,962,579$2,091,787$1,581,434$4,560,608
76$5,411,578$2,137,101$1,577,229$4,933,561
77$5,904,573$2,182,834$1,571,080$5,342,242
78$6,445,996$2,228,949$1,562,868$5,790,245
79$7,040,728$2,275,408$1,552,465$6,281,530
80$7,694,146$2,322,166$1,539,735$6,820,460
81$8,412,173$2,369,176$1,524,541$7,411,843
82$9,201,335$2,416,386$1,506,733$8,060,975
83$10,068,822$2,463,740$1,486,160$8,773,693
84$11,022,555$2,511,176$1,462,659$9,556,429
85$12,071,259$2,558,628$1,436,062$10,416,270
86$13,224,551$2,606,024$1,406,193$11,361,024
87$14,493,022$2,653,286$1,372,867$12,399,297
88$15,888,343$2,700,330$1,335,892$13,540,572
89$17,423,374$2,747,066$1,295,064$14,795,297
90$19,112,282$2,793,396$1,250,172$16,174,987
91$20,970,678$2,839,216$1,200,996$17,692,332
92$23,015,762$2,884,412$1,147,304$19,361,313
93$25,266,485$2,928,864$1,088,855$21,197,339
94$27,743,731$2,972,443$1,025,396$23,217,390
95$30,470,508$3,015,009$956,663$25,440,178
96$33,472,169$3,056,414$882,381$27,886,324
97$36,776,651$3,096,498$802,261$30,578,551
98$40,414,734$3,135,092$716,001$33,541,900
99$44,420,338$3,172,012$623,288$36,803,968
100$48,830,838$3,207,066$523,794$40,395,165