Can I retire at age 61 with 1,600,000?

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 $1,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$132,127$130,950$129,801$128,681$127,586$126,942
2 years$65,409$64,191$63,010$61,866$60,755$60,105
3 years$43,173$41,950$40,772$39,638$38,546$37,910
4 years$32,057$30,837$29,671$28,557$27,491$26,874
5 years$25,389$24,177$23,026$21,934$20,898$20,302
6 years$20,945$19,742$18,609$17,541$16,536$15,962
7 years$17,773$16,579$15,464$14,422$13,448$12,896
8 years$15,394$14,212$13,115$12,098$11,157$10,626
9 years$13,545$12,374$11,296$10,305$9,396$8,887
10 years$12,067$10,907$9,848$8,883$8,005$7,519
11 years$10,858$9,710$8,670$7,731$6,885$6,419
12 years$9,851$8,715$7,694$6,781$5,966$5,522
13 years$9,000$7,876$6,874$5,986$5,203$4,779
14 years$8,271$7,159$6,177$5,314$4,561$4,157
15 years$7,640$6,540$5,577$4,739$4,016$3,631
16 years$7,089$6,000$5,056$4,243$3,549$3,183
17 years$6,602$5,526$4,601$3,813$3,147$2,800
18 years$6,171$5,106$4,200$3,436$2,798$2,469
19 years$5,785$4,732$3,845$3,105$2,494$2,182
20 years$5,438$4,398$3,529$2,812$2,228$1,932
21 years$5,124$4,096$3,246$2,552$1,993$1,714
22 years$4,840$3,824$2,991$2,320$1,787$1,523
23 years$4,581$3,576$2,762$2,113$1,604$1,355
24 years$4,343$3,351$2,554$1,927$1,442$1,207
25 years$4,125$3,144$2,366$1,760$1,297$1,076
26 years$3,924$2,955$2,194$1,609$1,169$960
27 years$3,738$2,781$2,038$1,473$1,054$858
28 years$3,566$2,621$1,894$1,350$951$767
29 years$3,406$2,472$1,763$1,238$858$686
30 years$3,257$2,335$1,642$1,136$776$614
31 years$3,118$2,207$1,531$1,043$701$550
32 years$2,987$2,088$1,428$959$634$492
33 years$2,865$1,978$1,333$882$574$441
34 years$2,751$1,875$1,246$811$520$396
35 years$2,643$1,778$1,165$747$471$355
36 years$2,541$1,688$1,090$688$427$318
37 years$2,445$1,603$1,020$634$387$285
38 years$2,355$1,523$955$584$350$256
39 years$2,269$1,448$895$539$318$230
40 years$2,187$1,378$839$497$288$206
41 years$2,110$1,312$786$458$262$185
42 years$2,037$1,249$738$423$237$167
43 years$1,967$1,190$692$390$215$150
44 years$1,901$1,135$650$361$195$134
45 years$1,838$1,082$610$333$177$121
46 years$1,778$1,032$573$308$161$108
47 years$1,720$985$538$284$146$97
48 years$1,665$940$506$263$133$88
49 years$1,612$898$476$243$121$79
50 years$1,562$858$447$224$110$71

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,600,000, adding $4,486 every year, while hoping to spend $41,248 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: 30/45/25 Blend
60$1,600,000$1,600,000$1,600,000$1,600,000
61$1,767,827$1,683,027$1,658,227$1,807,079
62$1,904,258$1,721,608$1,669,890$1,876,369
63$2,053,222$1,760,697$1,680,562$1,946,910
64$2,215,955$1,800,275$1,690,164$2,021,960
65$2,393,816$1,840,322$1,698,618$2,101,939
66$2,588,301$1,880,813$1,705,838$2,187,308
67$2,801,058$1,921,724$1,711,734$2,278,576
68$3,033,902$1,963,025$1,716,213$2,376,306
69$3,288,832$2,004,684$1,719,178$2,481,119
70$3,568,046$2,046,667$1,720,524$2,593,698
71$3,873,968$2,088,935$1,720,143$2,714,798
72$4,209,267$2,131,447$1,717,922$2,845,254
73$4,576,882$2,174,157$1,713,741$2,985,983
74$4,980,048$2,217,016$1,707,476$3,138,001
75$5,422,332$2,259,968$1,698,996$3,302,427
76$5,907,659$2,302,956$1,688,162$3,480,496
77$6,440,356$2,345,917$1,674,831$3,673,571
78$7,025,187$2,388,781$1,658,852$3,883,156
79$7,667,400$2,431,475$1,640,067$4,110,910
80$8,372,776$2,473,919$1,618,311$4,358,665
81$9,147,684$2,516,026$1,593,409$4,628,440
82$9,999,142$2,557,705$1,565,182$4,922,465
83$10,934,877$2,598,855$1,533,438$5,243,199
84$11,963,405$2,639,370$1,497,979$5,593,355
85$13,094,108$2,679,135$1,458,598$5,975,929
86$14,337,322$2,718,027$1,415,075$6,394,221
87$15,704,433$2,755,915$1,367,185$6,851,877
88$17,207,988$2,792,658$1,314,688$7,352,916
89$18,861,810$2,828,104$1,257,337$7,901,773
90$20,681,127$2,862,094$1,194,870$8,503,339
91$22,682,720$2,894,455$1,127,016$9,163,011
92$24,885,077$2,925,003$1,053,491$9,886,740
93$27,308,569$2,953,542$973,997$10,681,094
94$29,975,641$2,979,864$888,225$11,553,312
95$32,911,026$3,003,746$795,849$12,511,384
96$36,141,972$3,024,952$696,532$13,564,119
97$39,698,507$3,043,228$589,919$14,721,233
98$43,613,715$3,058,306$475,642$15,993,442
99$47,924,052$3,069,901$353,314$17,392,563
100$52,669,688$3,077,709$222,533$18,931,632