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%16.6%
1 years$123,869$122,765$121,689$120,638$119,612$116,390
2 years$61,321$60,179$59,072$57,999$56,958$53,735
3 years$40,475$39,328$38,224$37,161$36,137$33,013
4 years$30,053$28,910$27,817$26,772$25,773$22,773
5 years$23,802$22,666$21,587$20,564$19,592$16,725
6 years$19,636$18,508$17,446$16,445$15,503$12,770
7 years$16,662$15,543$14,497$13,520$12,608$10,010
8 years$14,432$13,323$12,295$11,342$10,459$7,995
9 years$12,698$11,600$10,590$9,661$8,808$6,475
10 years$11,312$10,225$9,232$8,328$7,505$5,301
11 years$10,179$9,103$8,128$7,247$6,455$4,375
12 years$9,236$8,170$7,213$6,357$5,593$3,635
13 years$8,438$7,384$6,445$5,612$4,878$3,036
14 years$7,754$6,711$5,791$4,982$4,276$2,547
15 years$7,163$6,131$5,228$4,443$3,765$2,144
16 years$6,646$5,625$4,740$3,978$3,327$1,810
17 years$6,190$5,181$4,313$3,574$2,950$1,532
18 years$5,785$4,787$3,937$3,221$2,623$1,299
19 years$5,423$4,437$3,605$2,911$2,338$1,104
20 years$5,098$4,123$3,308$2,636$2,088$939
21 years$4,804$3,840$3,043$2,393$1,869$800
22 years$4,537$3,585$2,804$2,175$1,675$682
23 years$4,294$3,353$2,589$1,981$1,504$582
24 years$4,072$3,141$2,395$1,807$1,352$497
25 years$3,867$2,948$2,218$1,650$1,216$425
26 years$3,679$2,770$2,057$1,509$1,096$363
27 years$3,505$2,607$1,910$1,381$988$311
28 years$3,343$2,457$1,776$1,265$891$266
29 years$3,193$2,318$1,652$1,160$805$227
30 years$3,053$2,189$1,539$1,065$727$195
31 years$2,923$2,069$1,435$978$657$167
32 years$2,801$1,958$1,339$899$595$143
33 years$2,686$1,854$1,250$827$538$122
34 years$2,579$1,757$1,168$761$487$105
35 years$2,478$1,667$1,092$700$441$90
36 years$2,382$1,582$1,022$645$400$77
37 years$2,292$1,503$956$594$362$66
38 years$2,207$1,428$895$548$329$57
39 years$2,127$1,358$839$505$298$49
40 years$2,051$1,292$786$466$270$42
41 years$1,978$1,230$737$430$245$36
42 years$1,910$1,171$692$397$222$31
43 years$1,844$1,116$649$366$202$26
44 years$1,782$1,064$609$338$183$22
45 years$1,723$1,014$572$312$166$19
46 years$1,666$968$537$288$151$17
47 years$1,613$923$505$266$137$14
48 years$1,561$882$474$246$125$12
49 years$1,512$842$446$227$113$10
50 years$1,465$804$419$210$103$9

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 $5,180 every year, while hoping to spend $38,049 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: 68/10/22 Blend
60$1,500,000$1,500,000$1,500,000$1,500,000
61$1,658,343$1,578,843$1,555,593$1,761,576
62$1,787,010$1,615,723$1,567,222$1,868,247
63$1,927,526$1,653,134$1,577,965$1,980,015
64$2,081,059$1,691,063$1,587,752$2,101,379
65$2,248,896$1,729,494$1,596,510$2,233,282
66$2,432,453$1,768,408$1,604,162$2,376,768
67$2,633,288$1,807,785$1,610,627$2,532,985
68$2,853,120$1,847,603$1,615,819$2,703,197
69$3,093,838$1,887,836$1,619,650$2,888,798
70$3,357,526$1,928,456$1,622,024$3,091,325
71$3,646,475$1,969,431$1,622,843$3,312,470
72$3,963,211$2,010,729$1,622,004$3,554,098
73$4,310,515$2,052,311$1,619,397$3,818,265
74$4,691,450$2,094,138$1,614,910$4,107,237
75$5,109,391$2,136,163$1,608,422$4,423,509
76$5,568,053$2,178,339$1,599,809$4,769,834
77$6,071,530$2,220,613$1,588,938$5,149,243
78$6,624,331$2,262,928$1,575,672$5,565,078
79$7,231,423$2,305,222$1,559,867$6,021,023
80$7,898,278$2,347,428$1,541,373$6,521,136
81$8,630,923$2,389,473$1,520,030$7,069,891
82$9,435,999$2,431,279$1,495,673$7,672,218
83$10,320,822$2,472,763$1,468,129$8,333,551
84$11,293,451$2,513,834$1,437,217$9,059,880
85$12,362,766$2,554,394$1,402,746$9,857,804
86$13,538,547$2,594,338$1,364,517$10,734,599
87$14,831,574$2,633,556$1,322,324$11,698,281
88$16,253,721$2,671,927$1,275,948$12,757,688
89$17,818,071$2,709,321$1,225,162$13,922,557
90$19,539,038$2,745,602$1,169,729$15,203,624
91$21,432,504$2,780,621$1,109,399$16,612,716
92$23,515,970$2,814,221$1,043,914$18,162,873
93$25,808,715$2,846,235$973,002$19,868,464
94$28,331,986$2,876,482$896,379$21,745,325
95$31,109,189$2,904,770$813,749$23,810,911
96$34,166,118$2,930,896$724,801$26,084,458
97$37,531,194$2,954,641$629,214$28,587,167
98$41,235,732$2,975,775$526,648$31,342,404
99$45,314,237$2,994,048$416,752$34,375,920
100$49,804,733$3,009,200$299,156$37,716,098