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

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 $1,440,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$118,914$117,855$116,821$115,813$114,828$110,753
2 years$58,868$57,772$56,709$55,679$54,680$50,619
3 years$38,856$37,755$36,695$35,674$34,691$30,770
4 years$28,851$27,754$26,704$25,701$24,742$20,992
5 years$22,850$21,759$20,724$19,741$18,808$15,239
6 years$18,851$17,768$16,748$15,787$14,883$11,496
7 years$15,995$14,922$13,917$12,979$12,103$8,899
8 years$13,855$12,791$11,803$10,888$10,041$7,016
9 years$12,191$11,136$10,166$9,274$8,456$5,607
10 years$10,860$9,816$8,863$7,994$7,205$4,527
11 years$9,772$8,739$7,803$6,958$6,196$3,684
12 years$8,866$7,843$6,925$6,103$5,370$3,016
13 years$8,100$7,088$6,187$5,388$4,683$2,482
14 years$7,444$6,443$5,559$4,783$4,105$2,051
15 years$6,876$5,886$5,019$4,265$3,614$1,700
16 years$6,380$5,400$4,550$3,819$3,194$1,412
17 years$5,942$4,973$4,141$3,431$2,832$1,176
18 years$5,554$4,596$3,780$3,092$2,518$981
19 years$5,206$4,259$3,460$2,794$2,245$820
20 years$4,894$3,958$3,176$2,531$2,005$686
21 years$4,612$3,687$2,921$2,297$1,794$574
22 years$4,356$3,441$2,692$2,088$1,608$481
23 years$4,123$3,218$2,486$1,902$1,444$404
24 years$3,909$3,016$2,299$1,735$1,298$339
25 years$3,713$2,830$2,129$1,584$1,168$284
26 years$3,532$2,660$1,975$1,448$1,052$239
27 years$3,364$2,503$1,834$1,326$948$201
28 years$3,209$2,359$1,705$1,215$856$169
29 years$3,065$2,225$1,586$1,114$773$142
30 years$2,931$2,101$1,478$1,022$698$119
31 years$2,806$1,986$1,378$939$631$100
32 years$2,689$1,880$1,285$863$571$84
33 years$2,579$1,780$1,200$794$517$71
34 years$2,476$1,687$1,121$730$468$60
35 years$2,379$1,600$1,048$672$424$50
36 years$2,287$1,519$981$619$384$42
37 years$2,201$1,442$918$570$348$36
38 years$2,119$1,371$860$526$315$30
39 years$2,042$1,304$805$485$286$25
40 years$1,969$1,240$755$447$259$21
41 years$1,899$1,181$708$412$235$18
42 years$1,833$1,124$664$381$214$15
43 years$1,771$1,071$623$351$194$13
44 years$1,711$1,021$585$324$176$11
45 years$1,654$974$549$300$160$9
46 years$1,600$929$516$277$145$8
47 years$1,548$886$485$256$132$6
48 years$1,499$846$455$236$120$5
49 years$1,451$808$428$218$109$4
50 years$1,406$772$402$202$99$4

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 $3,530 every year, while hoping to spend $39,220 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: 35/39/26 Blend
60$1,440,000$1,440,000$1,440,000$1,440,000
61$1,590,521$1,514,201$1,491,881$1,633,591
62$1,711,025$1,546,667$1,500,129$1,698,450
63$1,842,505$1,579,410$1,507,340$1,764,578
64$1,986,040$1,612,401$1,513,435$1,835,160
65$2,142,817$1,645,609$1,518,337$1,910,621
66$2,314,143$1,679,003$1,521,959$1,991,429
67$2,501,457$1,712,545$1,524,216$2,078,098
68$2,706,341$1,746,195$1,525,012$2,171,200
69$2,930,540$1,779,910$1,524,252$2,271,363
70$3,175,973$1,813,645$1,521,834$2,379,282
71$3,444,757$1,847,348$1,517,649$2,495,723
72$3,739,219$1,880,965$1,511,587$2,621,531
73$4,061,923$1,914,436$1,503,530$2,757,640
74$4,415,695$1,947,698$1,493,353$2,905,081
75$4,803,644$1,980,684$1,480,928$3,064,990
76$5,229,196$2,013,318$1,466,120$3,238,623
77$5,696,126$2,045,522$1,448,787$3,427,364
78$6,208,589$2,077,211$1,428,780$3,632,742
79$6,771,164$2,108,294$1,405,943$3,856,444
80$7,388,896$2,138,673$1,380,115$4,100,332
81$8,067,338$2,168,243$1,351,124$4,366,461
82$8,812,612$2,196,892$1,318,792$4,657,096
83$9,631,460$2,224,501$1,282,933$4,974,741
84$10,531,309$2,250,942$1,243,351$5,322,154
85$11,520,342$2,276,078$1,199,843$5,702,381
86$12,607,574$2,299,762$1,152,194$6,118,783
87$13,802,936$2,321,841$1,100,183$6,575,066
88$15,117,371$2,342,146$1,043,574$7,075,321
89$16,562,934$2,360,503$982,126$7,624,060
90$18,152,908$2,376,722$915,582$8,226,260
91$19,901,927$2,390,604$843,676$8,887,413
92$21,826,114$2,401,934$766,130$9,613,575
93$23,943,236$2,410,487$682,653$10,411,429
94$26,272,866$2,416,021$592,942$11,288,343
95$28,836,572$2,418,280$496,679$12,252,447
96$31,658,118$2,416,991$393,533$13,312,706
97$34,763,689$2,411,866$283,159$14,479,009
98$38,182,135$2,402,598$165,196$15,762,262
99$41,945,249$2,388,861$39,265$17,174,491
100$46,088,059$2,370,310$0$18,728,961