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

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 $1,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$135,430$134,223$133,046$131,898$130,776$128,188
2 years$67,044$65,796$64,586$63,412$62,274$59,678
3 years$44,252$42,998$41,791$40,629$39,509$36,985
4 years$32,858$31,608$30,413$29,271$28,178$25,746
5 years$26,024$24,781$23,602$22,483$21,421$19,088
6 years$21,469$20,236$19,074$17,980$16,950$14,718
7 years$18,217$16,994$15,850$14,782$13,784$11,655
8 years$15,779$14,567$13,442$12,400$11,436$9,407
9 years$13,884$12,683$11,578$10,562$9,630$7,702
10 years$12,368$11,180$10,094$9,105$8,206$6,375
11 years$11,129$9,953$8,887$7,924$7,057$5,323
12 years$10,098$8,933$7,887$6,950$6,116$4,475
13 years$9,225$8,073$7,046$6,136$5,333$3,783
14 years$8,478$7,338$6,331$5,447$4,675$3,213
15 years$7,831$6,703$5,716$4,858$4,116$2,739
16 years$7,266$6,150$5,182$4,350$3,638$2,342
17 years$6,767$5,664$4,716$3,908$3,225$2,008
18 years$6,325$5,234$4,305$3,522$2,868$1,726
19 years$5,929$4,851$3,941$3,182$2,556$1,486
20 years$5,574$4,507$3,617$2,882$2,283$1,281
21 years$5,253$4,199$3,327$2,616$2,043$1,106
22 years$4,961$3,919$3,066$2,378$1,832$957
23 years$4,695$3,666$2,831$2,166$1,644$828
24 years$4,452$3,434$2,618$1,976$1,478$717
25 years$4,228$3,223$2,425$1,804$1,330$622
26 years$4,022$3,029$2,249$1,650$1,198$539
27 years$3,832$2,851$2,088$1,510$1,080$468
28 years$3,655$2,686$1,941$1,383$974$406
29 years$3,491$2,534$1,807$1,269$880$353
30 years$3,338$2,393$1,683$1,164$795$307
31 years$3,196$2,262$1,569$1,069$719$267
32 years$3,062$2,141$1,464$983$650$232
33 years$2,937$2,027$1,367$904$588$202
34 years$2,819$1,921$1,277$831$533$175
35 years$2,709$1,822$1,194$765$483$153
36 years$2,605$1,730$1,117$705$437$133
37 years$2,506$1,643$1,045$650$396$116
38 years$2,413$1,561$979$599$359$101
39 years$2,325$1,485$917$552$326$88
40 years$2,242$1,412$860$509$295$76
41 years$2,163$1,345$806$470$268$66
42 years$2,088$1,281$756$434$243$58
43 years$2,017$1,220$710$400$221$50
44 years$1,949$1,163$666$370$200$44
45 years$1,884$1,109$625$341$182$38
46 years$1,822$1,058$587$315$165$33
47 years$1,763$1,010$552$291$150$29
48 years$1,707$964$519$269$136$25
49 years$1,653$920$487$249$124$22
50 years$1,601$879$458$230$112$19

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 $3,714 every year, while hoping to spend $54,878 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: 41/30/29 Blend
60$1,640,000$1,640,000$1,640,000$1,640,000
61$1,811,111$1,724,191$1,698,771$1,869,792
62$1,937,455$1,750,287$1,697,290$1,938,767
63$2,074,846$1,775,822$1,693,920$2,007,990
64$2,224,354$1,800,711$1,688,540$2,081,887
65$2,387,155$1,824,862$1,681,023$2,160,921
66$2,564,543$1,848,179$1,671,236$2,245,606
67$2,757,942$1,870,555$1,659,038$2,336,512
68$2,968,920$1,891,881$1,644,284$2,434,267
69$3,199,203$1,912,035$1,626,820$2,539,569
70$3,450,689$1,930,893$1,606,486$2,653,187
71$3,725,469$1,948,317$1,583,113$2,775,972
72$4,025,846$1,964,163$1,556,526$2,908,868
73$4,354,353$1,978,277$1,526,541$3,052,915
74$4,713,780$1,990,497$1,492,963$3,209,264
75$5,107,201$2,000,646$1,455,593$3,379,190
76$5,537,998$2,008,540$1,414,217$3,564,098
77$6,009,897$2,013,982$1,368,617$3,765,545
78$6,527,001$2,016,761$1,318,560$3,985,249
79$7,093,828$2,016,655$1,263,805$4,225,108
80$7,715,355$2,013,429$1,204,099$4,487,223
81$8,397,064$2,006,829$1,139,179$4,773,912
82$9,144,992$1,996,591$1,068,769$5,087,735
83$9,965,788$1,982,431$992,580$5,431,523
84$10,866,778$1,964,050$910,311$5,808,399
85$11,856,030$1,941,128$821,646$6,221,817
86$12,942,432$1,913,331$726,258$6,675,586
87$14,135,775$1,880,299$623,803$7,173,917
88$15,446,845$1,841,655$513,922$7,721,455
89$16,887,525$1,796,998$396,240$8,323,331
90$18,470,905$1,745,903$270,367$8,985,210
91$20,211,407$1,687,922$135,893$9,713,343
92$22,124,919$1,622,578$0$10,514,633
93$24,228,945$1,549,369$0$11,399,053
94$26,542,772$1,467,762$0$12,417,681
95$29,087,646$1,377,195$0$13,537,846
96$31,886,980$1,277,071$0$14,769,937
97$34,966,566$1,166,761$0$16,125,408
98$38,354,824$1,045,601$0$17,616,890
99$42,083,066$912,886$0$19,258,308
100$46,185,795$767,873$0$21,065,014