Can I retire at age 61 with 1,710,000?

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 $1,710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$141,210$139,952$138,725$137,527$136,358$135,328
2 years$69,906$68,604$67,342$66,119$64,932$63,894
3 years$46,141$44,834$43,575$42,363$41,196$40,182
4 years$34,261$32,957$31,711$30,520$29,381$28,398
5 years$27,135$25,839$24,609$23,442$22,335$21,387
6 years$22,385$21,099$19,888$18,747$17,673$16,760
7 years$18,994$17,719$16,527$15,413$14,373$13,496
8 years$16,452$15,189$14,016$12,930$11,924$11,083
9 years$14,476$13,225$12,072$11,013$10,041$9,237
10 years$12,896$11,657$10,525$9,493$8,556$7,786
11 years$11,604$10,377$9,266$8,262$7,358$6,624
12 years$10,529$9,314$8,223$7,247$6,377$5,676
13 years$9,619$8,417$7,347$6,398$5,560$4,893
14 years$8,840$7,651$6,601$5,679$4,874$4,240
15 years$8,166$6,989$5,960$5,065$4,292$3,689
16 years$7,576$6,413$5,404$4,535$3,793$3,221
17 years$7,056$5,906$4,917$4,075$3,363$2,821
18 years$6,595$5,457$4,489$3,672$2,990$2,477
19 years$6,182$5,058$4,109$3,318$2,665$2,180
20 years$5,812$4,700$3,771$3,005$2,381$1,922
21 years$5,477$4,378$3,469$2,727$2,131$1,698
22 years$5,173$4,086$3,197$2,480$1,910$1,502
23 years$4,895$3,822$2,952$2,258$1,714$1,330
24 years$4,642$3,581$2,730$2,060$1,541$1,179
25 years$4,409$3,361$2,529$1,881$1,386$1,047
26 years$4,194$3,158$2,345$1,720$1,249$930
27 years$3,995$2,972$2,178$1,574$1,126$827
28 years$3,811$2,801$2,024$1,443$1,016$735
29 years$3,640$2,642$1,884$1,323$917$654
30 years$3,481$2,495$1,755$1,214$829$583
31 years$3,332$2,359$1,636$1,115$749$519
32 years$3,193$2,232$1,526$1,025$678$463
33 years$3,062$2,114$1,425$942$614$413
34 years$2,940$2,003$1,332$867$555$368
35 years$2,825$1,900$1,245$798$503$329
36 years$2,716$1,804$1,165$735$456$293
37 years$2,613$1,713$1,090$677$413$262
38 years$2,516$1,628$1,021$624$375$234
39 years$2,425$1,548$956$576$340$209
40 years$2,338$1,473$896$531$308$186
41 years$2,255$1,402$841$490$280$167
42 years$2,177$1,335$788$452$254$149
43 years$2,103$1,272$740$417$230$133
44 years$2,032$1,213$694$385$209$119
45 years$1,964$1,156$652$356$190$106
46 years$1,900$1,103$612$329$172$95
47 years$1,838$1,053$575$304$156$85
48 years$1,780$1,005$541$281$142$76
49 years$1,723$960$508$259$129$68
50 years$1,670$917$478$240$117$61

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,710,000, adding $2,768 every year, while hoping to spend $29,903 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: 76/5/19 Blend
60$1,710,000$1,710,000$1,710,000$1,710,000
61$1,887,275$1,796,645$1,770,140$2,022,212
62$2,047,961$1,852,864$1,797,623$2,168,128
63$2,224,034$1,910,836$1,825,025$2,324,101
64$2,417,033$1,970,614$1,852,311$2,494,324
65$2,628,651$2,032,255$1,879,444$2,680,212
66$2,860,755$2,095,817$1,906,387$2,883,322
67$3,115,398$2,161,359$1,933,097$3,105,372
68$3,394,845$2,228,941$1,959,532$3,348,251
69$3,701,588$2,298,628$1,985,645$3,614,041
70$4,038,374$2,370,485$2,011,388$3,905,038
71$4,408,228$2,444,578$2,036,709$4,223,767
72$4,814,481$2,520,977$2,061,553$4,573,012
73$5,260,806$2,599,752$2,085,863$4,955,841
74$5,751,246$2,680,978$2,109,578$5,375,634
75$6,290,257$2,764,730$2,132,632$5,836,112
76$6,882,748$2,851,086$2,154,960$6,341,377
77$7,534,125$2,940,126$2,176,488$6,895,950
78$8,250,347$3,031,933$2,197,141$7,504,809
79$9,037,977$3,126,593$2,216,840$8,173,440
80$9,904,247$3,224,193$2,235,501$8,907,889
81$10,857,126$3,324,824$2,253,036$9,714,816
82$11,905,391$3,428,579$2,269,351$10,601,561
83$13,058,716$3,535,554$2,284,349$11,576,211
84$14,327,758$3,645,849$2,297,928$12,647,676
85$15,724,260$3,759,566$2,309,979$13,825,776
86$17,261,159$3,876,809$2,320,388$15,121,329
87$18,952,712$3,997,688$2,329,035$16,546,259
88$20,814,627$4,122,313$2,335,797$18,113,703
89$22,864,213$4,250,801$2,340,540$19,838,137
90$25,120,542$4,383,269$2,343,127$21,735,513
91$27,604,627$4,519,839$2,343,412$23,823,409
92$30,339,626$4,660,638$2,341,243$26,121,197
93$33,351,053$4,805,794$2,336,460$28,650,221
94$36,667,024$4,955,442$2,328,895$31,434,004
95$40,318,521$5,109,719$2,318,374$34,498,464
96$44,339,682$5,268,767$2,304,711$37,872,167
97$48,768,124$5,432,731$2,287,713$41,586,586
98$53,645,299$5,601,762$2,267,178$45,676,408
99$59,016,886$5,776,014$2,242,895$50,179,854
100$64,933,217$5,955,648$2,214,640$55,139,046