Can I retire at age 61 with 1,490,000?

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 $1,490,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$123,043$121,947$120,878$119,834$118,815$117,233
2 years$60,912$59,778$58,678$57,612$56,578$54,987
3 years$40,205$39,065$37,969$36,913$35,896$34,345
4 years$29,853$28,717$27,632$26,594$25,601$24,102
5 years$23,644$22,515$21,443$20,426$19,462$18,019
6 years$19,505$18,385$17,329$16,335$15,399$14,015
7 years$16,551$15,440$14,401$13,430$12,524$11,198
8 years$14,336$13,235$12,213$11,266$10,390$9,123
9 years$12,614$11,523$10,519$9,596$8,750$7,540
10 years$11,237$10,157$9,171$8,272$7,455$6,303
11 years$10,111$9,042$8,074$7,199$6,412$5,316
12 years$9,174$8,116$7,165$6,315$5,556$4,515
13 years$8,381$7,334$6,402$5,575$4,845$3,857
14 years$7,703$6,667$5,752$4,949$4,247$3,311
15 years$7,115$6,090$5,193$4,413$3,740$2,854
16 years$6,601$5,588$4,708$3,952$3,305$2,468
17 years$6,148$5,146$4,284$3,551$2,930$2,140
18 years$5,746$4,755$3,911$3,200$2,606$1,861
19 years$5,387$4,407$3,580$2,891$2,322$1,621
20 years$5,064$4,095$3,286$2,619$2,074$1,415
21 years$4,772$3,815$3,022$2,377$1,856$1,237
22 years$4,507$3,561$2,786$2,161$1,664$1,082
23 years$4,266$3,330$2,572$1,968$1,494$948
24 years$4,045$3,120$2,379$1,795$1,343$832
25 years$3,841$2,928$2,203$1,639$1,208$730
26 years$3,654$2,752$2,043$1,499$1,088$642
27 years$3,481$2,590$1,897$1,372$981$564
28 years$3,321$2,441$1,764$1,257$885$496
29 years$3,172$2,302$1,641$1,153$799$437
30 years$3,033$2,174$1,529$1,058$722$384
31 years$2,903$2,055$1,425$972$653$339
32 years$2,782$1,945$1,330$893$591$298
33 years$2,668$1,842$1,242$821$535$263
34 years$2,562$1,746$1,160$755$484$232
35 years$2,461$1,656$1,085$695$438$205
36 years$2,366$1,572$1,015$640$397$180
37 years$2,277$1,493$950$590$360$159
38 years$2,193$1,418$889$544$326$140
39 years$2,113$1,349$833$502$296$124
40 years$2,037$1,283$781$463$268$109
41 years$1,965$1,222$732$427$244$97
42 years$1,897$1,163$687$394$221$85
43 years$1,832$1,108$645$364$201$75
44 years$1,770$1,057$605$336$182$66
45 years$1,711$1,008$568$310$165$59
46 years$1,655$961$534$286$150$52
47 years$1,602$917$501$265$136$46
48 years$1,551$876$471$244$124$40
49 years$1,502$836$443$226$112$36
50 years$1,455$799$416$209$102$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,490,000, adding $4,992 every year, while hoping to spend $20,824 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: 51/44/5 Blend
60$1,490,000$1,490,000$1,490,000$1,490,000
61$1,647,129$1,568,159$1,545,064$1,728,973
62$1,792,980$1,622,842$1,574,667$1,839,768
63$1,953,009$1,679,507$1,604,564$1,957,459
64$2,128,642$1,738,229$1,634,743$2,084,886
65$2,321,446$1,799,085$1,665,190$2,222,963
66$2,533,151$1,862,157$1,695,890$2,372,701
67$2,765,659$1,927,530$1,726,830$2,535,207
68$3,021,068$1,995,290$1,757,990$2,711,700
69$3,301,688$2,065,531$1,789,354$2,903,518
70$3,610,065$2,138,346$1,820,902$3,112,135
71$3,949,001$2,213,834$1,852,611$3,339,173
72$4,321,586$2,292,099$1,884,461$3,586,412
73$4,731,223$2,373,247$1,916,425$3,855,814
74$5,181,661$2,457,390$1,948,479$4,149,537
75$5,677,031$2,544,643$1,980,594$4,469,953
76$6,221,885$2,635,127$2,012,740$4,819,675
77$6,821,236$2,728,967$2,044,886$5,201,578
78$7,480,610$2,826,294$2,076,997$5,618,824
79$8,206,093$2,927,244$2,109,038$6,074,897
80$9,004,393$3,031,958$2,140,970$6,573,628
81$9,882,901$3,140,583$2,172,751$7,119,238
82$10,849,758$3,253,272$2,204,339$7,716,371
83$11,913,936$3,370,186$2,235,688$8,370,140
84$13,085,322$3,491,489$2,266,748$9,086,177
85$14,374,808$3,617,356$2,297,468$9,870,681
86$15,794,398$3,747,966$2,327,792$10,730,477
87$17,357,317$3,883,506$2,357,664$11,673,083
88$19,078,138$4,024,173$2,387,020$12,706,776
89$20,972,920$4,170,169$2,415,797$13,840,672
90$23,059,357$4,321,706$2,443,925$15,084,810
91$25,356,947$4,479,006$2,471,333$16,450,246
92$27,887,176$4,642,297$2,497,942$17,949,158
93$30,673,719$4,811,820$2,523,674$19,594,959
94$33,742,663$4,987,825$2,548,442$21,402,421
95$37,122,757$5,170,571$2,572,158$23,387,817
96$40,845,679$5,360,329$2,594,725$25,569,070
97$44,946,334$5,557,381$2,616,045$27,965,925
98$49,463,191$5,762,023$2,636,013$30,600,130
99$54,438,635$5,974,561$2,654,518$33,495,645
100$59,919,375$6,195,314$2,671,444$36,678,862