Can I retire at age 61 with 1,540,000?

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 $1,540,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$127,172$126,039$124,934$123,855$122,802$118,586
2 years$62,956$61,784$60,647$59,546$58,477$54,273
3 years$41,554$40,376$39,243$38,152$37,100$33,040
4 years$30,855$29,681$28,559$27,486$26,460$22,574
5 years$24,437$23,270$22,163$21,112$20,115$16,413
6 years$20,160$19,002$17,911$16,883$15,916$12,402
7 years$17,106$15,958$14,884$13,881$12,944$9,617
8 years$14,817$13,679$12,623$11,644$10,738$7,596
9 years$13,037$11,910$10,872$9,918$9,043$6,081
10 years$11,614$10,498$9,478$8,550$7,705$4,919
11 years$10,451$9,346$8,345$7,441$6,627$4,011
12 years$9,482$8,388$7,406$6,527$5,743$3,291
13 years$8,663$7,580$6,617$5,762$5,008$2,713
14 years$7,961$6,890$5,945$5,115$4,390$2,246
15 years$7,354$6,295$5,368$4,562$3,865$1,866
16 years$6,823$5,775$4,866$4,084$3,416$1,554
17 years$6,355$5,319$4,428$3,670$3,029$1,297
18 years$5,939$4,915$4,042$3,307$2,693$1,085
19 years$5,568$4,555$3,701$2,988$2,400$908
20 years$5,234$4,233$3,396$2,707$2,144$761
21 years$4,932$3,943$3,124$2,456$1,919$639
22 years$4,658$3,680$2,879$2,233$1,720$537
23 years$4,409$3,442$2,658$2,034$1,544$451
24 years$4,180$3,225$2,459$1,855$1,388$380
25 years$3,970$3,026$2,277$1,694$1,249$320
26 years$3,777$2,844$2,112$1,549$1,125$269
27 years$3,598$2,677$1,961$1,418$1,014$227
28 years$3,432$2,522$1,823$1,299$915$191
29 years$3,278$2,380$1,697$1,191$826$161
30 years$3,135$2,247$1,580$1,093$747$136
31 years$3,001$2,124$1,473$1,004$675$114
32 years$2,875$2,010$1,375$923$611$96
33 years$2,758$1,904$1,283$849$553$81
34 years$2,648$1,804$1,199$781$500$69
35 years$2,544$1,711$1,121$719$453$58
36 years$2,446$1,624$1,049$662$411$49
37 years$2,354$1,543$982$610$372$41
38 years$2,266$1,466$919$562$337$35
39 years$2,184$1,394$861$518$306$29
40 years$2,105$1,326$807$478$277$25
41 years$2,031$1,263$757$441$252$21
42 years$1,961$1,202$710$407$228$18
43 years$1,894$1,146$666$376$207$15
44 years$1,830$1,092$625$347$188$13
45 years$1,769$1,041$587$320$171$11
46 years$1,711$993$552$296$155$9
47 years$1,656$948$518$273$141$8
48 years$1,603$905$487$253$128$6
49 years$1,552$864$458$234$116$5
50 years$1,504$826$430$216$106$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,540,000, adding $2,535 every year, while hoping to spend $37,602 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: 84/6/10 Blend
60$1,540,000$1,540,000$1,540,000$1,540,000
61$1,699,695$1,618,075$1,594,205$1,839,736
62$1,833,055$1,657,352$1,607,602$1,970,962
63$1,978,759$1,697,294$1,620,189$2,109,767
64$2,138,024$1,737,893$1,631,897$2,261,080
65$2,312,193$1,779,140$1,642,656$2,426,136
66$2,502,744$1,821,026$1,652,392$2,606,296
67$2,711,304$1,863,537$1,661,028$2,803,055
68$2,939,667$1,906,659$1,668,482$3,018,065
69$3,189,804$1,950,377$1,674,667$3,253,143
70$3,463,889$1,994,670$1,679,494$3,510,289
71$3,764,316$2,039,519$1,682,867$3,791,708
72$4,093,720$2,084,900$1,684,687$4,099,828
73$4,455,005$2,130,786$1,684,849$4,437,326
74$4,851,369$2,177,147$1,683,245$4,807,146
75$5,286,333$2,223,952$1,679,758$5,212,538
76$5,763,777$2,271,164$1,674,268$5,657,076
77$6,287,975$2,318,744$1,666,649$6,144,702
78$6,863,635$2,366,648$1,656,768$6,679,757
79$7,495,942$2,414,830$1,644,486$7,267,024
80$8,190,608$2,463,238$1,629,657$7,911,774
81$8,953,929$2,511,815$1,612,129$8,619,813
82$9,792,836$2,560,500$1,591,742$9,397,539
83$10,714,969$2,609,228$1,568,329$10,252,002
84$11,728,742$2,657,926$1,541,714$11,190,968
85$12,843,426$2,706,518$1,511,714$12,222,996
86$14,069,237$2,754,918$1,478,137$13,357,517
87$15,417,427$2,803,037$1,440,783$14,604,921
88$16,900,396$2,850,777$1,399,440$15,976,660
89$18,531,805$2,898,034$1,353,890$17,485,349
90$20,326,706$2,944,695$1,303,903$19,144,891
91$22,301,684$2,990,639$1,249,238$20,970,607
92$24,475,012$3,035,736$1,189,643$22,979,378
93$26,866,824$3,079,847$1,124,857$25,189,804
94$29,499,304$3,122,824$1,054,604$27,622,386
95$32,396,897$3,164,507$978,597$30,299,712
96$35,586,538$3,204,725$896,538$33,246,671
97$39,097,905$3,243,297$808,111$36,490,695
98$42,963,699$3,280,026$712,991$40,062,008
99$47,219,956$3,314,707$610,836$43,993,918
100$51,906,381$3,347,117$501,288$48,323,131