Can I retire at age 61 with 1,720,000?

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 $1,720,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$142,036$140,771$139,536$138,332$137,155$132,712
2 years$70,315$69,005$67,736$66,506$65,312$60,877
3 years$46,411$45,096$43,830$42,611$41,437$37,149
4 years$34,461$33,150$31,897$30,699$29,553$25,446
5 years$27,293$25,990$24,753$23,580$22,466$18,550
6 years$22,516$21,223$20,004$18,857$17,776$14,056
7 years$19,106$17,823$16,624$15,503$14,457$10,930
8 years$16,549$15,278$14,098$13,005$11,993$8,659
9 years$14,561$13,302$12,143$11,078$10,100$6,953
10 years$12,972$11,725$10,586$9,549$8,606$5,642
11 years$11,672$10,438$9,320$8,310$7,401$4,615
12 years$10,590$9,369$8,271$7,289$6,414$3,799
13 years$9,675$8,466$7,390$6,435$5,593$3,143
14 years$8,892$7,696$6,640$5,713$4,903$2,612
15 years$8,213$7,030$5,995$5,095$4,317$2,177
16 years$7,620$6,450$5,435$4,562$3,815$1,819
17 years$7,098$5,940$4,946$4,099$3,383$1,524
18 years$6,633$5,489$4,515$3,694$3,008$1,279
19 years$6,219$5,087$4,133$3,338$2,681$1,075
20 years$5,846$4,727$3,793$3,023$2,395$905
21 years$5,509$4,403$3,489$2,743$2,143$763
22 years$5,203$4,110$3,216$2,494$1,921$643
23 years$4,924$3,844$2,969$2,272$1,724$543
24 years$4,669$3,602$2,746$2,072$1,550$458
25 years$4,434$3,380$2,543$1,892$1,395$387
26 years$4,218$3,177$2,359$1,730$1,256$327
27 years$4,019$2,990$2,190$1,584$1,133$277
28 years$3,834$2,817$2,036$1,451$1,022$234
29 years$3,661$2,658$1,895$1,331$923$198
30 years$3,501$2,510$1,765$1,221$834$168
31 years$3,352$2,373$1,645$1,121$754$142
32 years$3,212$2,245$1,535$1,031$682$120
33 years$3,080$2,126$1,433$948$617$102
34 years$2,957$2,015$1,339$872$559$86
35 years$2,841$1,911$1,252$803$506$73
36 years$2,732$1,814$1,171$739$459$62
37 years$2,629$1,723$1,096$681$416$52
38 years$2,531$1,637$1,027$628$377$44
39 years$2,439$1,557$962$579$342$38
40 years$2,352$1,481$902$534$310$32
41 years$2,269$1,410$845$493$281$27
42 years$2,190$1,343$793$455$255$23
43 years$2,115$1,280$744$420$232$19
44 years$2,044$1,220$699$388$210$16
45 years$1,976$1,163$656$358$191$14
46 years$1,911$1,110$616$331$173$12
47 years$1,849$1,059$579$305$157$10
48 years$1,790$1,011$544$282$143$8
49 years$1,733$965$511$261$130$7
50 years$1,679$922$481$241$118$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,720,000, adding $5,606 every year, while hoping to spend $34,921 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: 42/46/12 Blend
60$1,720,000$1,720,000$1,720,000$1,720,000
61$1,901,223$1,810,063$1,783,403$1,974,166
62$2,057,992$1,861,600$1,805,991$2,077,375
63$2,229,581$1,914,492$1,828,166$2,185,147
64$2,417,465$1,968,769$1,849,876$2,301,074
65$2,623,267$2,024,460$1,871,068$2,425,916
66$2,848,777$2,081,595$1,891,686$2,560,507
67$3,095,965$2,140,205$1,911,669$2,705,767
68$3,366,998$2,200,321$1,930,955$2,862,707
69$3,664,267$2,261,972$1,949,477$3,032,439
70$3,990,404$2,325,189$1,967,166$3,216,188
71$4,348,306$2,390,005$1,983,947$3,415,301
72$4,741,167$2,456,449$1,999,743$3,631,261
73$5,172,504$2,524,553$2,014,472$3,865,701
74$5,646,191$2,594,348$2,028,049$4,120,419
75$6,166,496$2,665,864$2,040,382$4,397,394
76$6,738,120$2,739,134$2,051,377$4,698,806
77$7,366,244$2,814,186$2,060,933$5,027,053
78$8,056,572$2,891,053$2,068,946$5,384,779
79$8,815,392$2,969,764$2,075,305$5,774,894
80$9,649,628$3,050,348$2,079,893$6,200,604
81$10,566,911$3,132,836$2,082,591$6,665,439
82$11,575,646$3,217,256$2,083,268$7,173,288
83$12,685,097$3,303,636$2,081,792$7,728,436
84$13,905,466$3,392,004$2,078,022$8,335,601
85$15,247,998$3,482,386$2,071,810$8,999,982
86$16,725,079$3,574,808$2,063,001$9,727,305
87$18,350,359$3,669,296$2,051,433$10,523,880
88$20,138,877$3,765,872$2,036,937$11,396,658
89$22,107,201$3,864,559$2,019,333$12,353,296
90$24,273,591$3,965,377$1,998,436$13,402,233
91$26,658,163$4,068,347$1,974,050$14,552,764
92$29,283,084$4,173,484$1,945,969$15,815,133
93$32,172,780$4,280,806$1,913,980$17,200,626
94$35,354,164$4,390,326$1,877,859$18,721,678
95$38,856,891$4,502,055$1,837,370$20,391,991
96$42,713,640$4,616,001$1,792,267$22,226,665
97$46,960,417$4,732,171$1,742,294$24,242,335
98$51,636,900$4,850,568$1,687,181$26,457,335
99$56,786,809$4,971,191$1,626,648$28,891,866
100$62,458,323$5,094,038$1,560,399$31,568,187