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%14.8%
1 years$123,869$122,765$121,689$120,638$119,612$117,245
2 years$61,321$60,179$59,072$57,999$56,958$54,583
3 years$40,475$39,328$38,224$37,161$36,137$33,828
4 years$30,053$28,910$27,817$26,772$25,773$23,549
5 years$23,802$22,666$21,587$20,564$19,592$17,458
6 years$19,636$18,508$17,446$16,445$15,503$13,461
7 years$16,662$15,543$14,497$13,520$12,608$10,660
8 years$14,432$13,323$12,295$11,342$10,459$8,604
9 years$12,698$11,600$10,590$9,661$8,808$7,045
10 years$11,312$10,225$9,232$8,328$7,505$5,831
11 years$10,179$9,103$8,128$7,247$6,455$4,869
12 years$9,236$8,170$7,213$6,357$5,593$4,093
13 years$8,438$7,384$6,445$5,612$4,878$3,460
14 years$7,754$6,711$5,791$4,982$4,276$2,938
15 years$7,163$6,131$5,228$4,443$3,765$2,505
16 years$6,646$5,625$4,740$3,978$3,327$2,142
17 years$6,190$5,181$4,313$3,574$2,950$1,837
18 years$5,785$4,787$3,937$3,221$2,623$1,578
19 years$5,423$4,437$3,605$2,911$2,338$1,359
20 years$5,098$4,123$3,308$2,636$2,088$1,172
21 years$4,804$3,840$3,043$2,393$1,869$1,012
22 years$4,537$3,585$2,804$2,175$1,675$875
23 years$4,294$3,353$2,589$1,981$1,504$757
24 years$4,072$3,141$2,395$1,807$1,352$656
25 years$3,867$2,948$2,218$1,650$1,216$569
26 years$3,679$2,770$2,057$1,509$1,096$493
27 years$3,505$2,607$1,910$1,381$988$428
28 years$3,343$2,457$1,776$1,265$891$372
29 years$3,193$2,318$1,652$1,160$805$323
30 years$3,053$2,189$1,539$1,065$727$281
31 years$2,923$2,069$1,435$978$657$244
32 years$2,801$1,958$1,339$899$595$212
33 years$2,686$1,854$1,250$827$538$184
34 years$2,579$1,757$1,168$761$487$160
35 years$2,478$1,667$1,092$700$441$140
36 years$2,382$1,582$1,022$645$400$121
37 years$2,292$1,503$956$594$362$106
38 years$2,207$1,428$895$548$329$92
39 years$2,127$1,358$839$505$298$80
40 years$2,051$1,292$786$466$270$70
41 years$1,978$1,230$737$430$245$61
42 years$1,910$1,171$692$397$222$53
43 years$1,844$1,116$649$366$202$46
44 years$1,782$1,064$609$338$183$40
45 years$1,723$1,014$572$312$166$35
46 years$1,666$968$537$288$151$30
47 years$1,613$923$505$266$137$26
48 years$1,561$882$474$246$125$23
49 years$1,512$842$446$227$113$20
50 years$1,465$804$419$210$103$17

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 $3,722 every year, while hoping to spend $22,717 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$1,500,000$1,500,000$1,500,000$1,500,000
61$1,656,839$1,577,339$1,554,089$1,739,232
62$1,801,666$1,630,458$1,581,981$1,848,694
63$1,960,504$1,685,419$1,610,045$1,964,840
64$2,134,758$1,742,287$1,638,264$2,090,539
65$2,325,976$1,801,131$1,666,618$2,226,694
66$2,535,862$1,862,023$1,695,087$2,374,293
67$2,766,295$1,925,037$1,723,647$2,534,427
68$3,019,343$1,990,250$1,752,275$2,708,291
69$3,297,284$2,057,741$1,780,945$2,897,201
70$3,602,630$2,127,593$1,809,629$3,102,606
71$3,938,145$2,199,892$1,838,299$3,326,097
72$4,306,877$2,274,727$1,866,922$3,569,427
73$4,712,180$2,352,191$1,895,466$3,834,523
74$5,157,754$2,432,379$1,923,896$4,123,506
75$5,647,671$2,515,393$1,952,173$4,438,710
76$6,186,421$2,601,334$1,980,258$4,782,702
77$6,778,948$2,690,311$2,008,108$5,158,310
78$7,430,700$2,782,436$2,035,679$5,568,644
79$8,147,680$2,877,824$2,062,923$6,017,131
80$8,936,502$2,976,596$2,089,790$6,507,539
81$9,804,454$3,078,878$2,116,226$7,044,021
82$10,759,564$3,184,798$2,142,175$7,631,145
83$11,810,679$3,294,494$2,167,578$8,273,943
84$12,967,548$3,408,103$2,192,372$8,977,955
85$14,240,911$3,525,774$2,216,490$9,749,282
86$15,642,604$3,647,656$2,239,862$10,594,642
87$17,185,666$3,773,908$2,262,414$11,521,433
88$18,884,468$3,904,693$2,284,068$12,537,802
89$20,754,842$4,040,182$2,304,743$13,652,722
90$22,814,235$4,180,550$2,324,351$14,876,076
91$25,081,872$4,325,982$2,342,802$16,218,749
92$27,578,936$4,476,668$2,359,999$17,692,729
93$30,328,770$4,632,807$2,375,841$19,311,223
94$33,357,096$4,794,606$2,390,223$21,088,776
95$36,692,257$4,962,279$2,403,033$23,041,411
96$40,365,486$5,136,050$2,414,153$25,186,778
97$44,411,198$5,316,149$2,423,461$27,544,322
98$48,867,319$5,502,819$2,430,825$30,135,460
99$53,775,639$5,696,311$2,436,111$32,983,790
100$59,182,209$5,896,885$2,439,176$36,115,306