Can I retire at age 61 with 1,500,000?

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 $1,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$123,869$122,765$121,689$120,638$119,612$116,626
2 years$61,321$60,179$59,072$57,999$56,958$53,968
3 years$40,475$39,328$38,224$37,161$36,137$33,237
4 years$30,053$28,910$27,817$26,772$25,773$22,986
5 years$23,802$22,666$21,587$20,564$19,592$16,925
6 years$19,636$18,508$17,446$16,445$15,503$12,958
7 years$16,662$15,543$14,497$13,520$12,608$10,186
8 years$14,432$13,323$12,295$11,342$10,459$8,160
9 years$12,698$11,600$10,590$9,661$8,808$6,629
10 years$11,312$10,225$9,232$8,328$7,505$5,443
11 years$10,179$9,103$8,128$7,247$6,455$4,507
12 years$9,236$8,170$7,213$6,357$5,593$3,757
13 years$8,438$7,384$6,445$5,612$4,878$3,149
14 years$7,754$6,711$5,791$4,982$4,276$2,650
15 years$7,163$6,131$5,228$4,443$3,765$2,239
16 years$6,646$5,625$4,740$3,978$3,327$1,897
17 years$6,190$5,181$4,313$3,574$2,950$1,612
18 years$5,785$4,787$3,937$3,221$2,623$1,372
19 years$5,423$4,437$3,605$2,911$2,338$1,170
20 years$5,098$4,123$3,308$2,636$2,088$999
21 years$4,804$3,840$3,043$2,393$1,869$854
22 years$4,537$3,585$2,804$2,175$1,675$731
23 years$4,294$3,353$2,589$1,981$1,504$626
24 years$4,072$3,141$2,395$1,807$1,352$537
25 years$3,867$2,948$2,218$1,650$1,216$461
26 years$3,679$2,770$2,057$1,509$1,096$395
27 years$3,505$2,607$1,910$1,381$988$340
28 years$3,343$2,457$1,776$1,265$891$292
29 years$3,193$2,318$1,652$1,160$805$251
30 years$3,053$2,189$1,539$1,065$727$216
31 years$2,923$2,069$1,435$978$657$185
32 years$2,801$1,958$1,339$899$595$159
33 years$2,686$1,854$1,250$827$538$137
34 years$2,579$1,757$1,168$761$487$118
35 years$2,478$1,667$1,092$700$441$102
36 years$2,382$1,582$1,022$645$400$87
37 years$2,292$1,503$956$594$362$75
38 years$2,207$1,428$895$548$329$65
39 years$2,127$1,358$839$505$298$56
40 years$2,051$1,292$786$466$270$48
41 years$1,978$1,230$737$430$245$41
42 years$1,910$1,171$692$397$222$36
43 years$1,844$1,116$649$366$202$31
44 years$1,782$1,064$609$338$183$26
45 years$1,723$1,014$572$312$166$23
46 years$1,666$968$537$288$151$20
47 years$1,613$923$505$266$137$17
48 years$1,561$882$474$246$125$15
49 years$1,512$842$446$227$113$13
50 years$1,465$804$419$210$103$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,500,000, adding $5,748 every year, while hoping to spend $22,000 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: 62/25/13 Blend
60$1,500,000$1,500,000$1,500,000$1,500,000
61$1,658,929$1,579,429$1,556,179$1,756,259
62$1,804,732$1,633,413$1,584,903$1,876,236
63$1,964,669$1,689,305$1,613,852$2,004,118
64$2,140,160$1,747,176$1,643,011$2,143,175
65$2,332,766$1,807,097$1,672,361$2,294,492
66$2,544,209$1,869,145$1,701,886$2,459,261
67$2,776,384$1,933,399$1,731,565$2,638,797
68$3,031,380$1,999,940$1,761,377$2,834,545
69$3,311,497$2,068,854$1,791,299$3,048,096
70$3,619,270$2,140,228$1,821,308$3,281,202
71$3,957,491$2,214,155$1,851,378$3,535,791
72$4,329,236$2,290,729$1,881,480$3,813,985
73$4,737,893$2,370,050$1,911,584$4,118,123
74$5,187,196$2,452,220$1,941,661$4,450,778
75$5,681,258$2,537,348$1,971,674$4,814,784
76$6,224,612$2,625,542$2,001,590$5,213,261
77$6,822,249$2,716,921$2,031,370$5,649,646
78$7,479,670$2,811,602$2,060,974$6,127,725
79$8,202,938$2,909,712$2,090,358$6,651,664
80$8,998,730$3,011,380$2,119,477$7,226,055
81$9,874,404$3,116,741$2,148,283$7,855,955
82$10,838,067$3,225,936$2,176,724$8,546,932
83$11,898,653$3,339,110$2,204,748$9,305,121
84$13,066,005$3,456,415$2,232,296$10,137,280
85$14,350,968$3,578,010$2,259,308$11,050,852
86$15,765,492$3,704,058$2,285,720$12,054,036
87$17,322,745$3,834,730$2,311,465$13,155,865
88$19,037,238$3,970,204$2,336,471$14,366,291
89$20,924,957$4,110,664$2,360,664$15,696,274
90$23,003,519$4,256,304$2,383,964$17,157,892
91$25,292,338$4,407,323$2,406,286$18,764,449
92$27,812,805$4,563,930$2,427,545$20,530,603
93$30,588,489$4,726,340$2,447,645$22,472,503
94$33,645,364$4,894,781$2,466,491$24,607,942
95$37,012,052$5,069,485$2,483,979$26,956,523
96$40,720,089$5,250,698$2,500,001$29,539,842
97$44,804,230$5,438,674$2,514,442$32,381,696
98$49,302,770$5,633,678$2,527,185$35,508,305
99$54,257,909$5,835,985$2,538,102$38,948,556
100$59,716,150$6,045,882$2,547,062$42,734,279