Can I retire at age 61 with 1,620,000?

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 $1,620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$133,778$132,586$131,424$130,289$129,181$126,418
2 years$66,227$64,993$63,798$62,639$61,515$58,744
3 years$43,713$42,474$41,282$40,133$39,028$36,336
4 years$32,458$31,223$30,042$28,914$27,835$25,244
5 years$25,707$24,479$23,314$22,209$21,160$18,676
6 years$21,207$19,989$18,841$17,760$16,743$14,369
7 years$17,995$16,787$15,657$14,602$13,616$11,353
8 years$15,586$14,389$13,279$12,249$11,296$9,142
9 years$13,714$12,528$11,437$10,434$9,513$7,467
10 years$12,217$11,043$9,971$8,994$8,106$6,166
11 years$10,994$9,831$8,778$7,827$6,971$5,135
12 years$9,974$8,824$7,790$6,866$6,041$4,306
13 years$9,113$7,974$6,960$6,061$5,268$3,630
14 years$8,375$7,248$6,254$5,381$4,618$3,075
15 years$7,736$6,622$5,646$4,798$4,066$2,614
16 years$7,177$6,075$5,119$4,297$3,593$2,229
17 years$6,685$5,595$4,658$3,860$3,186$1,906
18 years$6,248$5,170$4,252$3,479$2,833$1,633
19 years$5,857$4,791$3,893$3,144$2,525$1,402
20 years$5,506$4,452$3,573$2,847$2,255$1,205
21 years$5,189$4,147$3,286$2,584$2,018$1,037
22 years$4,900$3,871$3,029$2,349$1,809$894
23 years$4,638$3,621$2,797$2,140$1,624$772
24 years$4,397$3,392$2,586$1,951$1,460$666
25 years$4,177$3,184$2,395$1,782$1,314$576
26 years$3,973$2,992$2,222$1,630$1,183$498
27 years$3,785$2,816$2,063$1,492$1,067$431
28 years$3,611$2,653$1,918$1,367$963$373
29 years$3,449$2,503$1,785$1,253$869$323
30 years$3,298$2,364$1,662$1,150$785$279
31 years$3,157$2,235$1,550$1,056$710$242
32 years$3,025$2,115$1,446$971$642$210
33 years$2,901$2,003$1,350$893$581$182
34 years$2,785$1,898$1,261$821$526$158
35 years$2,676$1,800$1,179$756$477$137
36 years$2,573$1,709$1,103$696$432$119
37 years$2,476$1,623$1,033$642$391$103
38 years$2,384$1,542$967$591$355$89
39 years$2,297$1,467$906$545$322$77
40 years$2,215$1,395$849$503$292$67
41 years$2,137$1,328$796$464$265$58
42 years$2,062$1,265$747$428$240$51
43 years$1,992$1,205$701$395$218$44
44 years$1,925$1,149$658$365$198$38
45 years$1,861$1,095$618$337$180$33
46 years$1,800$1,045$580$311$163$29
47 years$1,742$997$545$288$148$25
48 years$1,686$952$512$266$135$22
49 years$1,633$909$481$246$122$19
50 years$1,582$868$453$227$111$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,620,000, adding $2,224 every year, while hoping to spend $40,588 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: 46/29/25 Blend
60$1,620,000$1,620,000$1,620,000$1,620,000
61$1,787,534$1,701,674$1,676,564$1,856,826
62$1,926,677$1,741,871$1,689,544$1,946,103
63$2,078,653$1,782,677$1,701,598$2,038,765
64$2,244,726$1,824,079$1,712,652$2,138,500
65$2,426,292$1,866,063$1,722,630$2,245,990
66$2,624,885$1,908,611$1,731,449$2,361,986
67$2,842,194$1,951,703$1,739,023$2,487,318
68$3,080,080$1,995,319$1,745,263$2,622,898
69$3,340,592$2,039,433$1,750,073$2,769,733
70$3,625,986$2,084,019$1,753,354$2,928,934
71$3,938,746$2,129,046$1,755,001$3,101,723
72$4,281,610$2,174,481$1,754,905$3,289,449
73$4,657,591$2,220,288$1,752,952$3,493,601
74$5,070,009$2,266,425$1,749,019$3,715,816
75$5,522,519$2,312,850$1,742,981$3,957,902
76$6,019,150$2,359,513$1,734,704$4,221,853
77$6,564,337$2,406,363$1,724,051$4,509,865
78$7,162,968$2,453,343$1,710,874$4,824,360
79$7,820,424$2,500,390$1,695,022$5,168,009
80$8,542,636$2,547,437$1,676,334$5,543,757
81$9,336,136$2,594,413$1,654,642$5,954,849
82$10,208,120$2,641,238$1,629,772$6,404,865
83$11,166,518$2,687,829$1,601,539$6,897,751
84$12,220,064$2,734,093$1,569,751$7,437,856
85$13,378,379$2,779,932$1,534,206$8,029,977
86$14,652,067$2,825,242$1,494,695$8,679,403
87$16,052,807$2,869,908$1,450,997$9,391,962
88$17,593,469$2,913,809$1,402,881$10,174,083
89$19,288,231$2,956,815$1,350,106$11,032,851
90$21,152,717$2,998,784$1,292,421$11,976,078
91$23,204,138$3,039,569$1,229,561$13,012,375
92$25,461,461$3,079,008$1,161,251$14,151,238
93$27,945,581$3,116,931$1,087,204$15,403,132
94$30,679,523$3,153,153$1,007,119$16,779,597
95$33,688,657$3,187,481$920,680$18,293,352
96$37,000,938$3,219,705$827,561$19,958,419
97$40,647,166$3,249,604$727,417$21,790,257
98$44,661,282$3,276,939$619,890$23,805,906
99$49,080,683$3,301,459$504,607$26,024,151
100$53,946,578$3,322,896$381,176$28,465,698