Can I retire at age 61 with 1,640,000?

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 $1,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$135,430$134,223$133,046$131,898$130,776$128,083
2 years$67,044$65,796$64,586$63,412$62,274$59,574
3 years$44,252$42,998$41,791$40,629$39,509$36,885
4 years$32,858$31,608$30,413$29,271$28,178$25,651
5 years$26,024$24,781$23,602$22,483$21,421$18,997
6 years$21,469$20,236$19,074$17,980$16,950$14,632
7 years$18,217$16,994$15,850$14,782$13,784$11,574
8 years$15,779$14,567$13,442$12,400$11,436$9,331
9 years$13,884$12,683$11,578$10,562$9,630$7,630
10 years$12,368$11,180$10,094$9,105$8,206$6,308
11 years$11,129$9,953$8,887$7,924$7,057$5,260
12 years$10,098$8,933$7,887$6,950$6,116$4,416
13 years$9,225$8,073$7,046$6,136$5,333$3,729
14 years$8,478$7,338$6,331$5,447$4,675$3,162
15 years$7,831$6,703$5,716$4,858$4,116$2,692
16 years$7,266$6,150$5,182$4,350$3,638$2,299
17 years$6,767$5,664$4,716$3,908$3,225$1,968
18 years$6,325$5,234$4,305$3,522$2,868$1,689
19 years$5,929$4,851$3,941$3,182$2,556$1,452
20 years$5,574$4,507$3,617$2,882$2,283$1,250
21 years$5,253$4,199$3,327$2,616$2,043$1,078
22 years$4,961$3,919$3,066$2,378$1,832$931
23 years$4,695$3,666$2,831$2,166$1,644$804
24 years$4,452$3,434$2,618$1,976$1,478$695
25 years$4,228$3,223$2,425$1,804$1,330$602
26 years$4,022$3,029$2,249$1,650$1,198$521
27 years$3,832$2,851$2,088$1,510$1,080$452
28 years$3,655$2,686$1,941$1,383$974$392
29 years$3,491$2,534$1,807$1,269$880$340
30 years$3,338$2,393$1,683$1,164$795$295
31 years$3,196$2,262$1,569$1,069$719$256
32 years$3,062$2,141$1,464$983$650$222
33 years$2,937$2,027$1,367$904$588$193
34 years$2,819$1,921$1,277$831$533$167
35 years$2,709$1,822$1,194$765$483$145
36 years$2,605$1,730$1,117$705$437$126
37 years$2,506$1,643$1,045$650$396$110
38 years$2,413$1,561$979$599$359$95
39 years$2,325$1,485$917$552$326$83
40 years$2,242$1,412$860$509$295$72
41 years$2,163$1,345$806$470$268$63
42 years$2,088$1,281$756$434$243$54
43 years$2,017$1,220$710$400$221$47
44 years$1,949$1,163$666$370$200$41
45 years$1,884$1,109$625$341$182$36
46 years$1,822$1,058$587$315$165$31
47 years$1,763$1,010$552$291$150$27
48 years$1,707$964$519$269$136$23
49 years$1,653$920$487$249$124$20
50 years$1,601$879$458$230$112$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,640,000, adding $3,642 every year, while hoping to spend $58,401 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: 61/23/16 Blend
60$1,640,000$1,640,000$1,640,000$1,640,000
61$1,811,037$1,724,117$1,698,697$1,913,993
62$1,933,624$1,746,460$1,693,465$2,006,120
63$2,066,758$1,767,941$1,686,100$2,099,735
64$2,211,453$1,788,456$1,676,470$2,200,518
65$2,368,824$1,807,893$1,664,435$2,309,170
66$2,540,099$1,826,134$1,649,848$2,426,462
67$2,726,628$1,843,054$1,632,557$2,553,248
68$2,929,897$1,858,516$1,612,400$2,690,468
69$3,151,542$1,872,379$1,589,211$2,839,158
70$3,393,362$1,884,489$1,562,813$3,000,463
71$3,657,340$1,894,684$1,533,022$3,175,645
72$3,945,656$1,902,791$1,499,646$3,366,098
73$4,260,711$1,908,625$1,462,482$3,573,357
74$4,605,149$1,911,993$1,421,320$3,799,118
75$4,981,879$1,912,686$1,375,940$4,045,251
76$5,394,107$1,910,483$1,326,109$4,313,818
77$5,845,360$1,905,151$1,271,588$4,607,095
78$6,339,524$1,896,441$1,212,124$4,927,594
79$6,880,878$1,884,089$1,147,453$5,278,082
80$7,474,133$1,867,816$1,077,298$5,661,615
81$8,124,481$1,847,324$1,001,373$6,081,562
82$8,837,635$1,822,300$919,376$6,541,640
83$9,619,891$1,792,411$830,993$7,045,948
84$10,478,183$1,757,302$735,895$7,599,009
85$11,420,148$1,716,600$633,738$8,205,810
86$12,454,200$1,669,910$524,164$8,871,851
87$13,589,604$1,616,812$406,800$9,603,199
88$14,836,569$1,556,861$281,253$10,406,544
89$16,206,341$1,489,589$147,117$11,289,267
90$17,711,308$1,414,499$3,965$12,259,503
91$19,365,116$1,331,064$0$13,326,228
92$21,182,802$1,238,730$0$14,524,741
93$23,180,928$1,136,909$0$15,842,926
94$25,377,744$1,024,978$0$17,292,221
95$27,793,355$902,283$0$18,885,984
96$30,449,911$768,129$0$20,638,935
97$33,371,817$621,782$0$22,567,304
98$36,585,962$462,469$0$24,688,978
99$40,121,972$289,372$0$27,023,674
100$44,012,488$101,626$0$29,593,126