Can I retire at age 61 with 1,520,000?

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 $1,520,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$125,520$124,402$123,311$122,247$121,207$118,518
2 years$62,139$60,981$59,860$58,772$57,718$55,022
3 years$41,014$39,852$38,733$37,656$36,618$34,001
4 years$30,454$29,295$28,188$27,129$26,117$23,597
5 years$24,120$22,968$21,875$20,838$19,853$17,439
6 years$19,898$18,755$17,678$16,664$15,709$13,403
7 years$16,884$15,751$14,691$13,700$12,776$10,578
8 years$14,624$13,501$12,459$11,493$10,599$8,508
9 years$12,868$11,755$10,731$9,789$8,926$6,941
10 years$11,463$10,362$9,355$8,439$7,605$5,724
11 years$10,315$9,224$8,236$7,344$6,541$4,761
12 years$9,359$8,279$7,310$6,442$5,668$3,987
13 years$8,550$7,482$6,531$5,687$4,943$3,357
14 years$7,858$6,801$5,868$5,048$4,333$2,839
15 years$7,258$6,213$5,298$4,502$3,815$2,410
16 years$6,734$5,700$4,803$4,031$3,372$2,053
17 years$6,272$5,250$4,371$3,622$2,989$1,752
18 years$5,862$4,851$3,990$3,264$2,658$1,499
19 years$5,495$4,496$3,653$2,950$2,369$1,285
20 years$5,166$4,178$3,352$2,671$2,116$1,103
21 years$4,868$3,891$3,083$2,424$1,894$948
22 years$4,598$3,632$2,842$2,204$1,698$816
23 years$4,352$3,397$2,624$2,008$1,524$703
24 years$4,126$3,183$2,427$1,831$1,370$606
25 years$3,919$2,987$2,248$1,672$1,232$523
26 years$3,728$2,807$2,084$1,529$1,110$451
27 years$3,551$2,642$1,936$1,399$1,001$390
28 years$3,388$2,490$1,799$1,282$903$337
29 years$3,236$2,349$1,675$1,176$815$291
30 years$3,094$2,218$1,560$1,079$737$252
31 years$2,962$2,097$1,454$991$666$218
32 years$2,838$1,984$1,357$911$603$188
33 years$2,722$1,879$1,267$838$545$163
34 years$2,613$1,781$1,184$771$494$141
35 years$2,511$1,689$1,107$709$447$122
36 years$2,414$1,603$1,035$653$405$106
37 years$2,323$1,523$969$602$367$92
38 years$2,237$1,447$907$555$333$79
39 years$2,155$1,376$850$512$302$69
40 years$2,078$1,309$797$472$274$59
41 years$2,005$1,246$747$435$248$52
42 years$1,935$1,187$701$402$225$45
43 years$1,869$1,131$658$371$205$39
44 years$1,806$1,078$617$342$186$33
45 years$1,746$1,028$580$316$169$29
46 years$1,689$981$544$292$153$25
47 years$1,634$936$511$270$139$22
48 years$1,582$893$481$249$126$19
49 years$1,532$853$452$231$115$16
50 years$1,484$815$425$213$104$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,520,000, adding $3,287 every year, while hoping to spend $53,286 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: 33/43/24 Blend
60$1,520,000$1,520,000$1,520,000$1,520,000
61$1,678,431$1,597,871$1,574,311$1,721,409
62$1,792,935$1,619,470$1,570,354$1,775,582
63$1,917,332$1,640,343$1,564,479$1,828,891
64$2,052,576$1,660,395$1,556,565$1,885,271
65$2,199,715$1,679,531$1,546,486$1,945,030
66$2,359,901$1,697,643$1,534,109$2,008,507
67$2,534,405$1,714,622$1,519,296$2,076,078
68$2,724,623$1,730,347$1,501,900$2,148,162
69$2,932,092$1,744,691$1,481,771$2,225,222
70$3,158,503$1,757,519$1,458,749$2,307,774
71$3,405,720$1,768,687$1,432,667$2,396,389
72$3,675,792$1,778,041$1,403,349$2,491,699
73$3,970,976$1,785,418$1,370,615$2,594,407
74$4,293,757$1,790,645$1,334,272$2,705,290
75$4,646,870$1,793,537$1,294,120$2,825,211
76$5,033,328$1,793,897$1,249,950$2,955,125
77$5,456,448$1,791,519$1,201,544$3,096,090
78$5,919,882$1,786,180$1,148,672$3,249,278
79$6,427,653$1,777,645$1,091,095$3,415,988
80$6,984,191$1,765,667$1,028,564$3,597,655
81$7,594,375$1,749,981$960,818$3,795,871
82$8,263,578$1,730,307$887,582$4,012,395
83$8,997,718$1,706,348$808,572$4,249,177
84$9,803,316$1,677,790$723,489$4,508,370
85$10,687,552$1,644,299$632,024$4,792,359
86$11,658,334$1,605,522$533,849$5,103,780
87$12,724,378$1,561,085$428,626$5,445,550
88$13,895,279$1,510,594$316,000$5,820,892
89$15,181,613$1,453,628$195,601$6,233,372
90$16,595,027$1,389,745$67,043$6,686,930
91$18,148,353$1,318,476$0$7,185,921
92$19,855,728$1,239,324$0$7,753,122
93$21,732,727$1,151,766$0$8,395,378
94$23,796,509$1,055,246$0$9,101,490
95$26,065,979$949,179$0$9,878,069
96$28,561,964$832,945$0$10,732,409
97$31,307,414$705,888$0$11,672,558
98$34,327,612$567,318$0$12,707,398
99$37,650,415$416,504$0$13,846,731
100$41,306,518$252,673$0$15,101,368