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%14.1%
1 years$122,217$121,128$120,066$119,030$118,017$116,014
2 years$60,503$59,377$58,285$57,226$56,199$54,187
3 years$39,935$38,803$37,714$36,665$35,655$33,697
4 years$29,653$28,525$27,446$26,415$25,429$23,540
5 years$23,485$22,364$21,299$20,289$19,331$17,516
6 years$19,375$18,262$17,213$16,226$15,296$13,558
7 years$16,440$15,336$14,304$13,340$12,440$10,778
8 years$14,239$13,146$12,131$11,191$10,320$8,735
9 years$12,529$11,446$10,448$9,532$8,691$7,182
10 years$11,162$10,089$9,109$8,217$7,405$5,970
11 years$10,044$8,982$8,020$7,151$6,369$5,007
12 years$9,112$8,061$7,117$6,272$5,519$4,228
13 years$8,325$7,285$6,359$5,537$4,813$3,591
14 years$7,651$6,622$5,713$4,916$4,219$3,064
15 years$7,067$6,049$5,158$4,384$3,714$2,625
16 years$6,557$5,550$4,677$3,925$3,283$2,256
17 years$6,107$5,111$4,256$3,527$2,911$1,944
18 years$5,708$4,723$3,885$3,178$2,588$1,679
19 years$5,351$4,377$3,556$2,872$2,307$1,453
20 years$5,030$4,068$3,264$2,601$2,061$1,260
21 years$4,740$3,789$3,002$2,361$1,844$1,094
22 years$4,477$3,537$2,767$2,146$1,653$951
23 years$4,237$3,308$2,555$1,955$1,484$827
24 years$4,017$3,099$2,363$1,783$1,334$720
25 years$3,816$2,909$2,188$1,628$1,200$628
26 years$3,630$2,734$2,030$1,489$1,081$548
27 years$3,458$2,573$1,885$1,363$975$478
28 years$3,299$2,424$1,752$1,248$879$418
29 years$3,151$2,287$1,630$1,145$794$365
30 years$3,013$2,160$1,519$1,051$717$319
31 years$2,884$2,042$1,416$965$649$279
32 years$2,763$1,932$1,321$887$587$244
33 years$2,650$1,829$1,233$816$531$213
34 years$2,544$1,734$1,152$750$481$187
35 years$2,445$1,645$1,077$691$435$163
36 years$2,351$1,561$1,008$636$395$143
37 years$2,262$1,483$943$586$358$125
38 years$2,178$1,409$883$540$324$110
39 years$2,099$1,340$828$498$294$96
40 years$2,023$1,275$776$459$267$84
41 years$1,952$1,213$727$424$242$74
42 years$1,884$1,156$682$391$220$64
43 years$1,820$1,101$640$361$199$56
44 years$1,758$1,050$601$333$181$49
45 years$1,700$1,001$564$308$164$43
46 years$1,644$955$530$284$149$38
47 years$1,591$911$498$263$135$33
48 years$1,540$870$468$243$123$29
49 years$1,492$831$440$224$112$26
50 years$1,445$793$414$207$101$22

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 $5,069 every year, while hoping to spend $58,002 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: 73/19/8 Blend
60$1,480,000$1,480,000$1,480,000$1,480,000
61$1,636,189$1,557,749$1,534,809$1,753,169
62$1,741,366$1,572,365$1,524,511$1,845,629
63$1,855,328$1,585,753$1,511,925$1,939,103
64$1,978,909$1,597,792$1,496,911$2,039,850
65$2,113,026$1,608,352$1,479,326$2,148,572
66$2,258,690$1,617,297$1,459,019$2,266,041
67$2,417,011$1,624,479$1,435,831$2,393,108
68$2,589,210$1,629,743$1,409,595$2,530,712
69$2,776,632$1,632,923$1,380,140$2,679,886
70$2,980,756$1,633,844$1,347,282$2,841,771
71$3,203,210$1,632,318$1,310,832$3,017,624
72$3,445,783$1,628,148$1,270,591$3,208,828
73$3,710,448$1,621,123$1,226,351$3,416,912
74$3,999,375$1,611,019$1,177,895$3,643,558
75$4,314,952$1,597,599$1,124,995$3,890,623
76$4,659,808$1,580,613$1,067,413$4,160,151
77$5,036,839$1,559,793$1,004,902$4,454,398
78$5,449,231$1,534,857$937,201$4,775,852
79$5,900,495$1,505,507$864,039$5,127,252
80$6,394,493$1,471,425$785,132$5,511,622
81$6,935,482$1,432,276$700,185$5,932,294
82$7,528,148$1,387,704$608,888$6,392,940
83$8,177,651$1,337,333$510,917$6,897,612
84$8,889,674$1,280,765$405,936$7,450,775
85$9,670,478$1,217,580$293,592$8,057,351
86$10,526,957$1,147,331$173,517$8,722,767
87$11,466,704$1,069,548$45,328$9,453,008
88$12,498,084$983,733$0$10,254,671
89$13,630,312$889,358$0$11,142,836
90$14,873,535$785,868$0$12,122,350
91$16,238,934$672,675$0$13,198,216
92$17,738,825$549,156$0$14,380,218
93$19,386,777$414,655$0$15,679,140
94$21,197,735$268,480$0$17,106,868
95$23,188,166$109,898$0$18,676,503
96$25,376,211$0$0$20,402,484
97$27,781,857$0$0$22,313,662
98$30,427,122$0$0$24,440,547
99$33,336,268$0$0$26,779,677
100$36,536,022$0$0$29,352,554