Can I retire at age 61 with 1,580,000?

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 $1,580,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$130,475$129,313$128,179$127,072$125,991$125,145
2 years$64,592$63,389$62,223$61,092$59,996$59,142
3 years$42,633$41,425$40,262$39,142$38,064$37,229
4 years$31,656$30,452$29,301$28,200$27,147$26,339
5 years$25,072$23,875$22,738$21,660$20,637$19,856
6 years$20,684$19,495$18,376$17,322$16,329$15,578
7 years$17,550$16,372$15,271$14,241$13,280$12,558
8 years$15,202$14,034$12,951$11,947$11,017$10,324
9 years$13,376$12,219$11,154$10,176$9,278$8,614
10 years$11,916$10,771$9,725$8,772$7,905$7,270
11 years$10,722$9,588$8,561$7,634$6,799$6,192
12 years$9,728$8,606$7,598$6,696$5,892$5,313
13 years$8,888$7,777$6,788$5,912$5,138$4,586
14 years$8,168$7,069$6,099$5,248$4,504$3,979
15 years$7,545$6,458$5,507$4,680$3,965$3,467
16 years$7,000$5,925$4,993$4,190$3,505$3,031
17 years$6,520$5,457$4,543$3,765$3,107$2,658
18 years$6,093$5,042$4,147$3,393$2,763$2,338
19 years$5,712$4,673$3,797$3,066$2,463$2,060
20 years$5,370$4,343$3,484$2,777$2,200$1,819
21 years$5,060$4,045$3,205$2,520$1,969$1,609
22 years$4,779$3,776$2,954$2,291$1,765$1,425
23 years$4,523$3,531$2,727$2,087$1,584$1,264
24 years$4,289$3,309$2,522$1,903$1,424$1,123
25 years$4,073$3,105$2,336$1,738$1,281$998
26 years$3,875$2,918$2,167$1,589$1,154$888
27 years$3,692$2,746$2,012$1,455$1,040$791
28 years$3,521$2,588$1,870$1,333$939$704
29 years$3,363$2,441$1,741$1,222$848$628
30 years$3,216$2,306$1,621$1,122$766$560
31 years$3,079$2,180$1,512$1,030$692$500
32 years$2,950$2,062$1,410$947$626$446
33 years$2,830$1,953$1,317$871$567$399
34 years$2,716$1,851$1,230$801$513$356
35 years$2,610$1,756$1,150$737$465$318
36 years$2,509$1,666$1,076$679$421$285
37 years$2,415$1,583$1,007$626$382$255
38 years$2,325$1,504$943$577$346$228
39 years$2,240$1,430$884$532$314$204
40 years$2,160$1,361$828$491$285$182
41 years$2,084$1,295$777$453$258$163
42 years$2,012$1,234$728$418$234$146
43 years$1,943$1,175$684$386$213$131
44 years$1,877$1,120$642$356$193$117
45 years$1,815$1,068$603$329$175$105
46 years$1,755$1,019$566$304$159$94
47 years$1,699$973$532$281$144$84
48 years$1,644$929$500$259$131$75
49 years$1,592$887$470$240$119$67
50 years$1,543$847$441$221$108$60

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,580,000, adding $4,124 every year, while hoping to spend $56,477 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: 49/37/14 Blend
60$1,580,000$1,580,000$1,580,000$1,580,000
61$1,745,414$1,661,674$1,637,184$1,824,009
62$1,863,355$1,683,005$1,631,938$1,899,899
63$1,991,433$1,703,488$1,624,624$1,976,088
64$2,130,623$1,723,023$1,615,113$2,057,596
65$2,281,996$1,741,500$1,603,269$2,144,939
66$2,446,732$1,758,806$1,588,950$2,238,689
67$2,626,128$1,774,817$1,572,009$2,339,478
68$2,821,612$1,789,401$1,552,291$2,448,004
69$3,034,755$1,802,421$1,529,631$2,565,038
70$3,267,287$1,813,727$1,503,861$2,691,431
71$3,521,111$1,823,160$1,474,801$2,828,125
72$3,798,323$1,830,554$1,442,266$2,976,158
73$4,101,230$1,835,729$1,406,059$3,136,679
74$4,432,371$1,838,495$1,365,978$3,310,957
75$4,794,541$1,838,650$1,321,807$3,500,391
76$5,190,820$1,835,980$1,273,323$3,706,528
77$5,624,598$1,830,257$1,220,294$3,931,078
78$6,099,607$1,821,239$1,162,473$4,175,927
79$6,619,958$1,808,670$1,099,607$4,443,158
80$7,190,177$1,792,279$1,031,428$4,735,072
81$7,815,251$1,771,777$957,656$5,054,208
82$8,500,670$1,746,857$878,001$5,403,372
83$9,252,482$1,717,197$792,158$5,785,659
84$10,077,349$1,682,453$699,809$6,204,488
85$10,982,607$1,642,262$600,621$6,663,631
86$11,976,338$1,596,238$494,247$7,167,252
87$13,067,446$1,543,975$380,325$7,719,950
88$14,265,736$1,485,040$258,477$8,326,798
89$15,582,012$1,418,978$128,307$8,993,395
90$17,028,176$1,345,307$0$9,725,920
91$18,617,337$1,263,514$0$10,532,778
92$20,363,940$1,173,060$0$11,440,467
93$22,283,897$1,073,375$0$12,438,169
94$24,394,738$963,855$0$13,535,117
95$26,715,779$843,861$0$14,741,493
96$29,268,298$712,720$0$16,068,524
97$32,075,741$569,720$0$17,528,593
98$35,163,939$414,108$0$19,135,358
99$38,561,352$245,090$0$20,903,876
100$42,299,337$61,827$0$22,850,755