Can I retire at age 61 with 1,740,000?

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 $1,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$143,688$142,408$141,159$139,940$138,750$135,067
2 years$71,132$69,808$68,524$67,279$66,071$62,387
3 years$46,951$45,620$44,339$43,106$41,918$38,347
4 years$34,862$33,536$32,268$31,056$29,897$26,466
5 years$27,611$26,292$25,041$23,854$22,727$19,447
6 years$22,778$21,470$20,237$19,076$17,983$14,856
7 years$19,328$18,030$16,817$15,683$14,625$11,652
8 years$16,741$15,455$14,262$13,156$12,133$9,312
9 years$14,730$13,457$12,284$11,206$10,218$7,547
10 years$13,122$11,861$10,709$9,660$8,706$6,181
11 years$11,808$10,559$9,428$8,407$7,487$5,105
12 years$10,713$9,478$8,367$7,374$6,488$4,245
13 years$9,788$8,565$7,476$6,510$5,658$3,548
14 years$8,995$7,785$6,717$5,779$4,960$2,978
15 years$8,309$7,112$6,065$5,154$4,367$2,509
16 years$7,709$6,525$5,498$4,615$3,860$2,120
17 years$7,180$6,009$5,003$4,146$3,422$1,795
18 years$6,711$5,553$4,567$3,737$3,043$1,524
19 years$6,291$5,146$4,181$3,376$2,712$1,295
20 years$5,914$4,782$3,837$3,058$2,423$1,103
21 years$5,573$4,455$3,530$2,775$2,168$940
22 years$5,263$4,158$3,253$2,523$1,943$802
23 years$4,981$3,889$3,004$2,298$1,744$685
24 years$4,723$3,644$2,778$2,096$1,568$585
25 years$4,486$3,419$2,573$1,914$1,411$501
26 years$4,267$3,214$2,386$1,750$1,271$428
27 years$4,065$3,025$2,216$1,602$1,146$367
28 years$3,878$2,850$2,060$1,468$1,034$314
29 years$3,704$2,689$1,917$1,346$934$269
30 years$3,542$2,539$1,786$1,235$843$231
31 years$3,391$2,400$1,665$1,135$763$198
32 years$3,249$2,271$1,553$1,043$690$169
33 years$3,116$2,151$1,450$959$624$145
34 years$2,991$2,039$1,355$882$565$125
35 years$2,874$1,934$1,267$812$512$107
36 years$2,764$1,835$1,185$748$464$92
37 years$2,659$1,743$1,109$689$420$79
38 years$2,561$1,656$1,039$635$381$67
39 years$2,467$1,575$973$586$346$58
40 years$2,379$1,499$912$540$313$50
41 years$2,295$1,427$855$498$284$43
42 years$2,215$1,359$802$460$258$37
43 years$2,139$1,294$753$425$234$31
44 years$2,067$1,234$707$392$213$27
45 years$1,999$1,177$664$362$193$23
46 years$1,933$1,122$623$334$175$20
47 years$1,871$1,071$585$309$159$17
48 years$1,811$1,023$550$286$145$15
49 years$1,754$977$517$264$131$13
50 years$1,699$933$486$244$119$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,740,000, adding $6,768 every year, while hoping to spend $42,507 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: 69/18/13 Blend
60$1,740,000$1,740,000$1,740,000$1,740,000
61$1,924,461$1,832,241$1,805,271$2,051,249
62$2,075,529$1,876,794$1,820,521$2,180,942
63$2,240,581$1,922,105$1,834,856$2,317,045
64$2,420,999$1,968,167$1,848,203$2,464,845
65$2,618,304$2,014,970$1,860,480$2,625,485
66$2,834,170$2,062,503$1,871,606$2,800,226
67$3,070,442$2,110,752$1,881,491$2,990,456
68$3,329,150$2,159,702$1,890,044$3,197,703
69$3,612,530$2,209,334$1,897,167$3,423,651
70$3,923,045$2,259,628$1,902,759$3,670,156
71$4,263,407$2,310,561$1,906,712$3,939,261
72$4,636,602$2,362,106$1,908,915$4,233,217
73$5,045,920$2,414,234$1,909,248$4,554,505
74$5,494,985$2,466,912$1,907,589$4,905,856
75$5,987,787$2,520,105$1,903,807$5,290,281
76$6,528,724$2,573,772$1,897,767$5,711,098
77$7,122,636$2,627,869$1,889,324$6,171,962
78$7,774,859$2,682,349$1,878,331$6,676,898
79$8,491,269$2,737,158$1,864,629$7,230,346
80$9,278,338$2,792,239$1,848,054$7,837,193
81$10,143,199$2,847,529$1,828,435$8,502,828
82$11,093,708$2,902,961$1,805,590$9,233,188
83$12,138,520$2,958,459$1,779,330$10,034,814
84$13,287,169$3,013,944$1,749,459$10,914,916
85$14,550,163$3,069,330$1,715,768$11,881,438
86$15,939,074$3,124,522$1,678,041$12,943,134
87$17,466,656$3,179,419$1,636,051$14,109,651
88$19,146,957$3,233,913$1,589,561$15,391,620
89$20,995,458$3,287,887$1,538,323$16,800,757
90$23,029,215$3,341,213$1,482,077$18,349,973
91$25,267,020$3,393,758$1,420,552$20,053,494
92$27,729,580$3,445,375$1,353,464$21,927,000
93$30,439,708$3,495,909$1,280,515$23,987,770
94$33,422,542$3,545,193$1,201,397$26,254,845
95$36,705,783$3,593,049$1,115,785$28,749,210
96$40,319,950$3,639,285$1,023,341$31,493,991
97$44,298,672$3,683,697$923,710$34,514,674
98$48,679,005$3,726,067$816,523$37,839,343
99$53,501,781$3,766,163$701,395$41,498,952
100$58,811,993$3,803,734$577,921$45,527,611