Can I retire at age 61 with 1,510,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,510,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$124,694$123,584$122,500$121,442$120,410$119,550
2 years$61,730$60,580$59,466$58,386$57,338$56,472
3 years$40,744$39,590$38,478$37,408$36,377$35,531
4 years$30,254$29,103$28,002$26,951$25,945$25,124
5 years$23,961$22,817$21,731$20,701$19,723$18,931
6 years$19,767$18,632$17,562$16,554$15,606$14,844
7 years$16,773$15,647$14,594$13,610$12,692$11,960
8 years$14,528$13,412$12,377$11,417$10,529$9,827
9 years$12,783$11,678$10,660$9,725$8,867$8,194
10 years$11,388$10,293$9,294$8,383$7,555$6,912
11 years$10,247$9,164$8,182$7,296$6,498$5,883
12 years$9,297$8,225$7,261$6,399$5,631$5,045
13 years$8,494$7,433$6,488$5,650$4,910$4,352
14 years$7,806$6,756$5,829$5,015$4,304$3,773
15 years$7,211$6,172$5,263$4,473$3,790$3,285
16 years$6,690$5,663$4,772$4,005$3,349$2,870
17 years$6,231$5,215$4,342$3,598$2,970$2,516
18 years$5,823$4,819$3,964$3,243$2,641$2,211
19 years$5,459$4,466$3,629$2,930$2,354$1,947
20 years$5,132$4,150$3,330$2,654$2,102$1,718
21 years$4,836$3,866$3,063$2,408$1,881$1,518
22 years$4,568$3,608$2,823$2,190$1,686$1,344
23 years$4,323$3,375$2,607$1,994$1,514$1,191
24 years$4,099$3,162$2,411$1,819$1,361$1,057
25 years$3,893$2,967$2,233$1,661$1,224$939
26 years$3,703$2,789$2,071$1,519$1,103$835
27 years$3,528$2,625$1,923$1,390$994$743
28 years$3,365$2,473$1,788$1,274$897$661
29 years$3,214$2,333$1,664$1,168$810$589
30 years$3,074$2,204$1,549$1,072$732$525
31 years$2,942$2,083$1,445$985$662$468
32 years$2,819$1,971$1,348$905$599$418
33 years$2,704$1,867$1,258$832$542$373
34 years$2,596$1,769$1,176$766$491$333
35 years$2,494$1,678$1,099$705$444$297
36 years$2,398$1,593$1,028$649$403$265
37 years$2,308$1,513$963$598$365$237
38 years$2,222$1,438$901$551$331$212
39 years$2,141$1,367$844$508$300$189
40 years$2,064$1,301$792$469$272$169
41 years$1,992$1,238$742$433$247$151
42 years$1,922$1,179$696$399$224$135
43 years$1,857$1,123$653$368$203$121
44 years$1,794$1,071$613$340$184$108
45 years$1,734$1,021$576$314$167$97
46 years$1,678$974$541$290$152$87
47 years$1,623$930$508$268$138$78
48 years$1,571$887$477$248$125$69
49 years$1,522$847$449$229$114$62
50 years$1,474$809$422$212$103$56

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,510,000, adding $5,886 every year, while hoping to spend $47,664 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: 74/13/13 Blend
60$1,510,000$1,510,000$1,510,000$1,510,000
61$1,670,091$1,590,061$1,566,656$1,788,728
62$1,789,727$1,617,260$1,568,425$1,895,130
63$1,919,967$1,644,194$1,568,656$2,005,180
64$2,061,844$1,670,801$1,567,246$2,124,459
65$2,216,493$1,697,011$1,564,090$2,253,869
66$2,385,163$1,722,752$1,559,075$2,394,403
67$2,569,229$1,747,946$1,552,083$2,547,157
68$2,770,204$1,772,509$1,542,991$2,713,337
69$2,989,754$1,796,351$1,531,671$2,894,272
70$3,229,714$1,819,377$1,517,986$3,091,427
71$3,492,102$1,841,483$1,501,796$3,306,415
72$3,779,141$1,862,561$1,482,952$3,541,015
73$4,093,281$1,882,494$1,461,297$3,797,186
74$4,437,215$1,901,156$1,436,671$4,077,088
75$4,813,913$1,918,415$1,408,902$4,383,100
76$5,226,644$1,934,129$1,377,811$4,717,846
77$5,679,007$1,948,146$1,343,213$5,084,214
78$6,174,968$1,960,307$1,304,913$5,485,392
79$6,718,892$1,970,440$1,262,705$5,924,889
80$7,315,590$1,978,363$1,216,377$6,406,573
81$7,970,360$1,983,882$1,165,705$6,934,710
82$8,689,036$1,986,792$1,110,455$7,513,998
83$9,478,047$1,986,873$1,050,385$8,149,617
84$10,344,472$1,983,895$985,238$8,847,275
85$11,296,113$1,977,611$914,748$9,613,264
86$12,341,561$1,967,758$838,636$10,454,517
87$13,490,282$1,954,060$756,612$11,378,678
88$14,752,704$1,936,222$668,371$12,394,168
89$16,140,314$1,913,932$573,597$13,510,272
90$17,665,771$1,886,858$471,956$14,737,222
91$19,343,017$1,854,652$363,104$16,086,293
92$21,187,415$1,816,940$246,679$17,569,917
93$23,215,891$1,773,330$122,302$19,201,790
94$25,447,093$1,723,405$0$20,997,011
95$27,901,569$1,666,723$0$22,973,667
96$30,601,955$1,602,819$0$25,166,849
97$33,573,195$1,531,198$0$27,579,848
98$36,842,772$1,451,337$0$30,235,004
99$40,440,966$1,362,685$0$33,156,935
100$44,401,144$1,264,655$0$36,372,771