Can I retire at age 61 with 1,480,000?

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 $1,480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$122,217$121,128$120,066$119,030$118,017$114,653
2 years$60,503$59,377$58,285$57,226$56,199$52,836
3 years$39,935$38,803$37,714$36,665$35,655$32,398
4 years$29,653$28,525$27,446$26,415$25,429$22,304
5 years$23,485$22,364$21,299$20,289$19,331$16,345
6 years$19,375$18,262$17,213$16,226$15,296$12,453
7 years$16,440$15,336$14,304$13,340$12,440$9,739
8 years$14,239$13,146$12,131$11,191$10,320$7,761
9 years$12,529$11,446$10,448$9,532$8,691$6,270
10 years$11,162$10,089$9,109$8,217$7,405$5,120
11 years$10,044$8,982$8,020$7,151$6,369$4,215
12 years$9,112$8,061$7,117$6,272$5,519$3,493
13 years$8,325$7,285$6,359$5,537$4,813$2,910
14 years$7,651$6,622$5,713$4,916$4,219$2,434
15 years$7,067$6,049$5,158$4,384$3,714$2,043
16 years$6,557$5,550$4,677$3,925$3,283$1,720
17 years$6,107$5,111$4,256$3,527$2,911$1,452
18 years$5,708$4,723$3,885$3,178$2,588$1,227
19 years$5,351$4,377$3,556$2,872$2,307$1,040
20 years$5,030$4,068$3,264$2,601$2,061$882
21 years$4,740$3,789$3,002$2,361$1,844$749
22 years$4,477$3,537$2,767$2,146$1,653$636
23 years$4,237$3,308$2,555$1,955$1,484$541
24 years$4,017$3,099$2,363$1,783$1,334$461
25 years$3,816$2,909$2,188$1,628$1,200$393
26 years$3,630$2,734$2,030$1,489$1,081$334
27 years$3,458$2,573$1,885$1,363$975$285
28 years$3,299$2,424$1,752$1,248$879$243
29 years$3,151$2,287$1,630$1,145$794$208
30 years$3,013$2,160$1,519$1,051$717$177
31 years$2,884$2,042$1,416$965$649$151
32 years$2,763$1,932$1,321$887$587$129
33 years$2,650$1,829$1,233$816$531$110
34 years$2,544$1,734$1,152$750$481$94
35 years$2,445$1,645$1,077$691$435$80
36 years$2,351$1,561$1,008$636$395$69
37 years$2,262$1,483$943$586$358$59
38 years$2,178$1,409$883$540$324$50
39 years$2,099$1,340$828$498$294$43
40 years$2,023$1,275$776$459$267$37
41 years$1,952$1,213$727$424$242$31
42 years$1,884$1,156$682$391$220$27
43 years$1,820$1,101$640$361$199$23
44 years$1,758$1,050$601$333$181$20
45 years$1,700$1,001$564$308$164$17
46 years$1,644$955$530$284$149$14
47 years$1,591$911$498$263$135$12
48 years$1,540$870$468$243$123$10
49 years$1,492$831$440$224$112$9
50 years$1,445$793$414$207$101$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,480,000, adding $2,305 every year, while hoping to spend $54,516 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: 79/6/15 Blend
60$1,480,000$1,480,000$1,480,000$1,480,000
61$1,633,338$1,554,898$1,531,958$1,757,098
62$1,741,933$1,573,083$1,525,274$1,857,094
63$1,859,779$1,590,332$1,516,539$1,959,581
64$1,987,760$1,606,542$1,505,626$2,070,494
65$2,126,851$1,621,602$1,492,404$2,190,654
66$2,278,124$1,635,395$1,476,734$2,320,966
67$2,442,758$1,647,795$1,458,470$2,462,426
68$2,622,052$1,658,669$1,437,461$2,616,131
69$2,817,432$1,667,875$1,413,547$2,783,293
70$3,030,471$1,675,262$1,386,562$2,965,243
71$3,262,899$1,680,669$1,356,331$3,163,451
72$3,516,618$1,683,926$1,322,672$3,379,535
73$3,793,726$1,684,851$1,285,394$3,615,279
74$4,096,528$1,683,251$1,244,297$3,872,648
75$4,427,566$1,678,922$1,199,173$4,153,810
76$4,789,634$1,671,646$1,149,802$4,461,150
77$5,185,813$1,661,193$1,095,957$4,797,300
78$5,619,493$1,647,318$1,037,398$5,165,159
79$6,094,408$1,629,762$973,877$5,567,923
80$6,614,667$1,608,251$905,132$6,009,114
81$7,184,800$1,582,492$830,891$6,492,613
82$7,809,793$1,552,178$750,869$7,022,698
83$8,495,138$1,516,980$664,769$7,604,083
84$9,246,883$1,476,554$572,280$8,241,965
85$10,071,692$1,430,531$473,078$8,942,072
86$10,976,902$1,378,525$366,824$9,710,714
87$11,970,598$1,320,124$253,164$10,554,850
88$13,061,683$1,254,894$131,729$11,482,147
89$14,259,966$1,182,376$2,133$12,501,056
90$15,576,253$1,102,083$0$13,620,892
91$17,022,447$1,013,501$0$14,873,713
92$18,611,661$916,087$0$16,250,821
93$20,358,343$809,267$0$17,764,416
94$22,278,407$692,435$0$19,428,314
95$24,389,388$564,948$0$21,257,740
96$26,710,605$426,129$0$23,269,470
97$29,263,341$275,264$0$25,481,987
98$32,071,046$111,596$0$27,915,658
99$35,159,557$0$0$30,592,926
100$38,557,340$0$0$33,542,854