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

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 $1,540,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$127,172$126,039$124,934$123,855$122,802$118,634
2 years$62,956$61,784$60,647$59,546$58,477$54,319
3 years$41,554$40,376$39,243$38,152$37,100$33,084
4 years$30,855$29,681$28,559$27,486$26,460$22,616
5 years$24,437$23,270$22,163$21,112$20,115$16,452
6 years$20,160$19,002$17,911$16,883$15,916$12,438
7 years$17,106$15,958$14,884$13,881$12,944$9,651
8 years$14,817$13,679$12,623$11,644$10,738$7,627
9 years$13,037$11,910$10,872$9,918$9,043$6,110
10 years$11,614$10,498$9,478$8,550$7,705$4,945
11 years$10,451$9,346$8,345$7,441$6,627$4,035
12 years$9,482$8,388$7,406$6,527$5,743$3,313
13 years$8,663$7,580$6,617$5,762$5,008$2,733
14 years$7,961$6,890$5,945$5,115$4,390$2,264
15 years$7,354$6,295$5,368$4,562$3,865$1,882
16 years$6,823$5,775$4,866$4,084$3,416$1,569
17 years$6,355$5,319$4,428$3,670$3,029$1,310
18 years$5,939$4,915$4,042$3,307$2,693$1,096
19 years$5,568$4,555$3,701$2,988$2,400$919
20 years$5,234$4,233$3,396$2,707$2,144$771
21 years$4,932$3,943$3,124$2,456$1,919$648
22 years$4,658$3,680$2,879$2,233$1,720$544
23 years$4,409$3,442$2,658$2,034$1,544$458
24 years$4,180$3,225$2,459$1,855$1,388$386
25 years$3,970$3,026$2,277$1,694$1,249$325
26 years$3,777$2,844$2,112$1,549$1,125$274
27 years$3,598$2,677$1,961$1,418$1,014$231
28 years$3,432$2,522$1,823$1,299$915$195
29 years$3,278$2,380$1,697$1,191$826$164
30 years$3,135$2,247$1,580$1,093$747$138
31 years$3,001$2,124$1,473$1,004$675$117
32 years$2,875$2,010$1,375$923$611$99
33 years$2,758$1,904$1,283$849$553$83
34 years$2,648$1,804$1,199$781$500$70
35 years$2,544$1,711$1,121$719$453$59
36 years$2,446$1,624$1,049$662$411$50
37 years$2,354$1,543$982$610$372$42
38 years$2,266$1,466$919$562$337$36
39 years$2,184$1,394$861$518$306$30
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$7
49 years$1,552$864$458$234$116$6
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 $2,094 every year, while hoping to spend $46,491 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: 64/31/5 Blend
60$1,540,000$1,540,000$1,540,000$1,540,000
61$1,699,240$1,617,620$1,593,750$1,806,653
62$1,823,096$1,647,417$1,597,675$1,908,140
63$1,958,028$1,677,116$1,600,172$2,013,220
64$2,105,115$1,706,664$1,601,147$2,126,748
65$2,265,548$1,736,001$1,600,496$2,249,541
66$2,440,634$1,765,065$1,598,113$2,382,494
67$2,631,815$1,793,790$1,593,886$2,526,598
68$2,840,677$1,822,103$1,587,698$2,682,941
69$3,068,966$1,849,926$1,579,426$2,852,723
70$3,318,605$1,877,176$1,568,941$3,037,267
71$3,591,710$1,903,765$1,556,108$3,238,030
72$3,890,612$1,929,597$1,540,784$3,456,617
73$4,217,876$1,954,569$1,522,823$3,694,798
74$4,576,331$1,978,574$1,502,069$3,954,522
75$4,969,086$2,001,494$1,478,358$4,237,939
76$5,399,571$2,023,206$1,451,521$4,547,416
77$5,871,560$2,043,576$1,421,380$4,885,565
78$6,389,211$2,062,462$1,387,748$5,255,261
79$6,957,103$2,079,715$1,350,429$5,659,676
80$7,580,280$2,095,173$1,309,221$6,102,304
81$8,264,297$2,108,666$1,263,909$6,586,998
82$9,015,276$2,120,011$1,214,270$7,118,003
83$9,839,957$2,129,015$1,160,071$7,700,000
84$10,745,767$2,135,471$1,101,068$8,338,145
85$11,740,887$2,139,160$1,037,005$9,038,126
86$12,834,329$2,139,851$967,617$9,806,209
87$14,036,022$2,137,295$892,623$10,649,302
88$15,356,905$2,131,231$811,735$11,575,020
89$16,809,027$2,121,379$724,646$12,591,756
90$18,405,666$2,107,445$631,040$13,708,761
91$20,161,450$2,089,115$530,585$14,936,233
92$22,092,492$2,066,057$422,935$16,285,412
93$24,216,551$2,037,918$307,727$17,768,689
94$26,553,187$2,004,324$184,585$19,399,719
95$29,123,958$1,964,881$53,113$21,193,557
96$31,952,610$1,919,169$0$23,166,795
97$35,065,313$1,866,745$0$25,342,373
98$38,490,897$1,807,138$0$27,739,126
99$42,261,132$1,739,851$0$30,376,462
100$46,411,022$1,664,359$0$33,278,896