Can I retire at age 61 with 1,560,000?

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 $1,560,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$128,823$127,676$126,556$125,464$124,397$120,511
2 years$63,774$62,586$61,435$60,319$59,236$55,356
3 years$42,094$40,901$39,753$38,647$37,582$33,829
4 years$31,256$30,066$28,930$27,843$26,804$23,207
5 years$24,754$23,572$22,451$21,386$20,376$16,945
6 years$20,422$19,249$18,143$17,103$16,123$12,860
7 years$17,328$16,165$15,077$14,061$13,112$10,018
8 years$15,009$13,856$12,787$11,795$10,878$7,950
9 years$13,206$12,064$11,013$10,047$9,161$6,396
10 years$11,765$10,634$9,602$8,661$7,805$5,200
11 years$10,586$9,467$8,453$7,537$6,713$4,261
12 years$9,605$8,497$7,502$6,611$5,817$3,515
13 years$8,775$7,679$6,702$5,837$5,073$2,914
14 years$8,065$6,980$6,022$5,181$4,447$2,426
15 years$7,449$6,376$5,437$4,621$3,915$2,027
16 years$6,911$5,850$4,930$4,137$3,460$1,698
17 years$6,437$5,388$4,486$3,717$3,068$1,425
18 years$6,016$4,979$4,095$3,350$2,728$1,199
19 years$5,640$4,614$3,749$3,027$2,432$1,010
20 years$5,302$4,288$3,440$2,742$2,172$852
21 years$4,996$3,994$3,164$2,488$1,944$720
22 years$4,719$3,728$2,917$2,262$1,742$608
23 years$4,466$3,487$2,693$2,060$1,564$515
24 years$4,235$3,267$2,491$1,879$1,406$436
25 years$4,022$3,066$2,307$1,716$1,265$369
26 years$3,826$2,881$2,139$1,569$1,139$313
27 years$3,645$2,712$1,987$1,436$1,027$265
28 years$3,477$2,555$1,847$1,316$927$225
29 years$3,321$2,411$1,719$1,207$837$191
30 years$3,175$2,276$1,601$1,108$756$162
31 years$3,040$2,152$1,492$1,017$684$137
32 years$2,913$2,036$1,392$935$618$117
33 years$2,794$1,928$1,300$860$560$99
34 years$2,682$1,828$1,215$791$507$84
35 years$2,577$1,733$1,136$728$459$71
36 years$2,478$1,645$1,062$671$416$61
37 years$2,384$1,563$994$618$377$51
38 years$2,296$1,485$931$569$342$44
39 years$2,212$1,412$872$525$310$37
40 years$2,133$1,344$818$484$281$32
41 years$2,058$1,279$767$447$255$27
42 years$1,986$1,218$719$412$231$23
43 years$1,918$1,161$675$381$210$19
44 years$1,854$1,106$634$351$191$16
45 years$1,792$1,055$595$325$173$14
46 years$1,733$1,006$559$300$157$12
47 years$1,677$960$525$277$143$10
48 years$1,623$917$493$256$130$9
49 years$1,572$875$464$237$118$7
50 years$1,523$836$436$219$107$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,560,000, adding $6,341 every year, while hoping to spend $56,093 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: 64/6/30 Blend
60$1,560,000$1,560,000$1,560,000$1,560,000
61$1,725,661$1,642,981$1,618,801$1,821,880
62$1,841,996$1,663,804$1,613,348$1,908,732
63$1,968,317$1,683,768$1,605,833$1,996,898
64$2,105,583$1,702,771$1,596,126$2,092,047
65$2,254,851$1,720,705$1,584,095$2,194,878
66$2,417,280$1,737,454$1,569,596$2,306,156
67$2,594,149$1,752,896$1,552,484$2,426,731
68$2,786,863$1,766,898$1,532,603$2,557,538
69$2,996,970$1,779,323$1,509,792$2,699,608
70$3,226,171$1,790,020$1,483,881$2,854,082
71$3,476,342$1,798,833$1,454,692$3,022,216
72$3,749,545$1,805,591$1,422,040$3,205,396
73$4,048,051$1,810,118$1,385,731$3,405,154
74$4,374,360$1,812,221$1,345,561$3,623,178
75$4,731,225$1,811,701$1,301,317$3,861,331
76$5,121,676$1,808,341$1,252,778$4,121,668
77$5,549,052$1,801,914$1,199,711$4,406,457
78$6,017,026$1,792,179$1,141,872$4,718,198
79$6,529,646$1,778,878$1,079,008$5,059,652
80$7,091,368$1,761,741$1,010,852$5,433,862
81$7,707,100$1,740,479$937,128$5,844,186
82$8,382,247$1,714,786$857,545$6,294,328
83$9,122,764$1,684,338$771,801$6,788,372
84$9,935,207$1,648,792$679,578$7,330,823
85$10,826,801$1,607,785$580,546$7,926,651
86$11,805,500$1,560,932$474,360$8,581,337
87$12,880,069$1,507,826$360,659$9,300,923
88$14,060,162$1,448,035$239,067$10,092,076
89$15,356,414$1,381,104$109,191$10,962,145
90$16,780,540$1,306,550$0$11,919,236
91$18,345,446$1,223,863$0$12,981,702
92$20,065,352$1,132,502$0$14,187,896
93$21,955,921$1,031,898$0$15,513,840
94$24,034,412$921,448$0$16,971,666
95$26,319,836$800,513$0$18,574,743
96$28,833,142$668,421$0$20,337,801
97$31,597,409$524,460$0$22,277,071
98$34,638,065$367,878$0$24,410,440
99$37,983,125$197,882$0$26,757,613
100$41,663,459$13,634$0$29,340,310