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%15.7%
1 years$122,217$121,128$120,066$119,030$118,017$115,258
2 years$60,503$59,377$58,285$57,226$56,199$53,434
3 years$39,935$38,803$37,714$36,665$35,655$32,972
4 years$29,653$28,525$27,446$26,415$25,429$22,848
5 years$23,485$22,364$21,299$20,289$19,331$16,859
6 years$19,375$18,262$17,213$16,226$15,296$12,936
7 years$16,440$15,336$14,304$13,340$12,440$10,192
8 years$14,239$13,146$12,131$11,191$10,320$8,184
9 years$12,529$11,446$10,448$9,532$8,691$6,664
10 years$11,162$10,089$9,109$8,217$7,405$5,486
11 years$10,044$8,982$8,020$7,151$6,369$4,554
12 years$9,112$8,061$7,117$6,272$5,519$3,806
13 years$8,325$7,285$6,359$5,537$4,813$3,198
14 years$7,651$6,622$5,713$4,916$4,219$2,700
15 years$7,067$6,049$5,158$4,384$3,714$2,287
16 years$6,557$5,550$4,677$3,925$3,283$1,943
17 years$6,107$5,111$4,256$3,527$2,911$1,655
18 years$5,708$4,723$3,885$3,178$2,588$1,413
19 years$5,351$4,377$3,556$2,872$2,307$1,209
20 years$5,030$4,068$3,264$2,601$2,061$1,035
21 years$4,740$3,789$3,002$2,361$1,844$888
22 years$4,477$3,537$2,767$2,146$1,653$762
23 years$4,237$3,308$2,555$1,955$1,484$655
24 years$4,017$3,099$2,363$1,783$1,334$563
25 years$3,816$2,909$2,188$1,628$1,200$485
26 years$3,630$2,734$2,030$1,489$1,081$418
27 years$3,458$2,573$1,885$1,363$975$360
28 years$3,299$2,424$1,752$1,248$879$310
29 years$3,151$2,287$1,630$1,145$794$267
30 years$3,013$2,160$1,519$1,051$717$231
31 years$2,884$2,042$1,416$965$649$199
32 years$2,763$1,932$1,321$887$587$172
33 years$2,650$1,829$1,233$816$531$148
34 years$2,544$1,734$1,152$750$481$128
35 years$2,445$1,645$1,077$691$435$111
36 years$2,351$1,561$1,008$636$395$95
37 years$2,262$1,483$943$586$358$82
38 years$2,178$1,409$883$540$324$71
39 years$2,099$1,340$828$498$294$62
40 years$2,023$1,275$776$459$267$53
41 years$1,952$1,213$727$424$242$46
42 years$1,884$1,156$682$391$220$40
43 years$1,820$1,101$640$361$199$34
44 years$1,758$1,050$601$333$181$30
45 years$1,700$1,001$564$308$164$26
46 years$1,644$955$530$284$149$22
47 years$1,591$911$498$263$135$19
48 years$1,540$870$468$243$123$17
49 years$1,492$831$440$224$112$14
50 years$1,445$793$414$207$101$12

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 $5,608 every year, while hoping to spend $38,878 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: 64/12/24 Blend
60$1,480,000$1,480,000$1,480,000$1,480,000
61$1,636,745$1,558,305$1,535,365$1,730,896
62$1,762,327$1,593,296$1,545,433$1,830,103
63$1,899,415$1,628,698$1,554,537$1,933,607
64$2,049,142$1,664,491$1,562,601$2,045,819
65$2,212,756$1,700,652$1,569,548$2,167,597
66$2,391,627$1,737,155$1,575,299$2,299,886
67$2,587,269$1,773,971$1,579,767$2,443,727
68$2,801,344$1,811,069$1,582,863$2,600,269
69$3,035,685$1,848,416$1,584,493$2,770,775
70$3,292,310$1,885,973$1,584,559$2,956,640
71$3,573,441$1,923,701$1,582,957$3,159,400
72$3,881,525$1,961,556$1,579,578$3,380,749
73$4,219,257$1,999,488$1,574,310$3,622,553
74$4,589,604$2,037,446$1,567,033$3,886,870
75$4,995,836$2,075,373$1,557,621$4,175,967
76$5,441,554$2,113,209$1,545,944$4,492,343
77$5,930,724$2,150,887$1,531,864$4,838,755
78$6,467,713$2,188,337$1,515,238$5,218,238
79$7,057,336$2,225,481$1,495,914$5,634,139
80$7,704,893$2,262,238$1,473,735$6,090,148
81$8,416,223$2,298,519$1,448,537$6,590,332
82$9,197,760$2,334,229$1,420,145$7,139,173
83$10,056,591$2,369,265$1,388,379$7,741,613
84$11,000,523$2,403,519$1,353,050$8,403,096
85$12,038,158$2,436,874$1,313,959$9,129,626
86$13,178,973$2,469,203$1,270,899$9,927,820
87$14,433,409$2,500,374$1,223,654$10,804,970
88$15,812,967$2,530,243$1,171,998$11,769,116
89$17,330,322$2,558,657$1,115,692$12,829,118
90$18,999,436$2,585,453$1,054,489$13,994,742
91$20,835,695$2,610,457$988,131$15,276,753
92$22,856,050$2,633,483$916,347$16,687,015
93$25,079,177$2,654,333$838,854$18,238,607
94$27,525,654$2,672,797$755,358$19,945,943
95$30,218,157$2,688,651$665,548$21,824,909
96$33,181,669$2,701,655$569,104$23,893,017
97$36,443,720$2,711,556$465,689$26,169,567
98$40,034,641$2,718,084$354,952$28,675,832
99$43,987,856$2,720,952$236,525$31,435,257
100$48,340,195$2,719,856$110,025$34,473,685