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

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 $1,740,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$143,688$142,408$141,159$139,940$138,750$137,876
2 years$71,132$69,808$68,524$67,279$66,071$65,189
3 years$46,951$45,620$44,339$43,106$41,918$41,056
4 years$34,862$33,536$32,268$31,056$29,897$29,061
5 years$27,611$26,292$25,041$23,854$22,727$21,920
6 years$22,778$21,470$20,237$19,076$17,983$17,206
7 years$19,328$18,030$16,817$15,683$14,625$13,878
8 years$16,741$15,455$14,262$13,156$12,133$11,416
9 years$14,730$13,457$12,284$11,206$10,218$9,531
10 years$13,122$11,861$10,709$9,660$8,706$8,049
11 years$11,808$10,559$9,428$8,407$7,487$6,860
12 years$10,713$9,478$8,367$7,374$6,488$5,889
13 years$9,788$8,565$7,476$6,510$5,658$5,087
14 years$8,995$7,785$6,717$5,779$4,960$4,416
15 years$8,309$7,112$6,065$5,154$4,367$3,850
16 years$7,709$6,525$5,498$4,615$3,860$3,369
17 years$7,180$6,009$5,003$4,146$3,422$2,956
18 years$6,711$5,553$4,567$3,737$3,043$2,601
19 years$6,291$5,146$4,181$3,376$2,712$2,294
20 years$5,914$4,782$3,837$3,058$2,423$2,027
21 years$5,573$4,455$3,530$2,775$2,168$1,795
22 years$5,263$4,158$3,253$2,523$1,943$1,591
23 years$4,981$3,889$3,004$2,298$1,744$1,412
24 years$4,723$3,644$2,778$2,096$1,568$1,255
25 years$4,486$3,419$2,573$1,914$1,411$1,117
26 years$4,267$3,214$2,386$1,750$1,271$994
27 years$4,065$3,025$2,216$1,602$1,146$886
28 years$3,878$2,850$2,060$1,468$1,034$790
29 years$3,704$2,689$1,917$1,346$934$705
30 years$3,542$2,539$1,786$1,235$843$629
31 years$3,391$2,400$1,665$1,135$763$562
32 years$3,249$2,271$1,553$1,043$690$502
33 years$3,116$2,151$1,450$959$624$449
34 years$2,991$2,039$1,355$882$565$402
35 years$2,874$1,934$1,267$812$512$359
36 years$2,764$1,835$1,185$748$464$321
37 years$2,659$1,743$1,109$689$420$288
38 years$2,561$1,656$1,039$635$381$257
39 years$2,467$1,575$973$586$346$231
40 years$2,379$1,499$912$540$313$206
41 years$2,295$1,427$855$498$284$185
42 years$2,215$1,359$802$460$258$166
43 years$2,139$1,294$753$425$234$148
44 years$2,067$1,234$707$392$213$133
45 years$1,999$1,177$664$362$193$119
46 years$1,933$1,122$623$334$175$107
47 years$1,871$1,071$585$309$159$96
48 years$1,811$1,023$550$286$145$86
49 years$1,754$977$517$264$131$77
50 years$1,699$933$486$244$119$69

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 $3,480 every year, while hoping to spend $31,278 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: 56/33/11 Blend
60$1,740,000$1,740,000$1,740,000$1,740,000
61$1,921,070$1,828,850$1,801,880$2,023,194
62$2,083,739$1,885,184$1,828,963$2,148,999
63$2,261,953$1,943,230$1,855,905$2,282,215
64$2,457,263$2,003,039$1,882,669$2,426,575
65$2,671,379$2,064,663$1,909,214$2,583,146
66$2,906,184$2,128,157$1,935,498$2,753,106
67$3,163,753$2,193,574$1,961,475$2,937,747
68$3,446,370$2,260,974$1,987,098$3,138,494
69$3,756,551$2,330,413$2,012,317$3,356,915
70$4,097,068$2,401,952$2,037,079$3,594,735
71$4,470,975$2,475,653$2,061,326$3,853,853
72$4,881,633$2,551,579$2,085,000$4,136,360
73$5,332,750$2,629,796$2,108,037$4,444,559
74$5,828,406$2,710,372$2,130,372$4,780,983
75$6,373,098$2,793,374$2,151,934$5,148,425
76$6,971,779$2,878,875$2,172,650$5,549,957
77$7,629,908$2,966,948$2,192,441$5,988,964
78$8,353,497$3,057,666$2,211,225$6,469,173
79$9,149,170$3,151,108$2,228,918$6,994,689
80$10,024,225$3,247,352$2,245,426$7,570,034
81$10,986,704$3,346,481$2,260,656$8,200,187
82$12,045,467$3,448,577$2,274,507$8,890,633
83$13,210,273$3,553,726$2,286,872$9,647,413
84$14,491,879$3,662,017$2,297,640$10,477,184
85$15,902,135$3,773,540$2,306,696$11,387,277
86$17,454,098$3,888,388$2,313,915$12,385,766
87$19,162,155$4,006,658$2,319,169$13,481,551
88$21,042,156$4,128,446$2,322,324$14,684,431
89$23,111,571$4,253,854$2,323,235$16,005,204
90$25,389,643$4,382,985$2,321,756$17,455,768
91$27,897,580$4,515,945$2,317,729$19,049,228
92$30,658,751$4,652,844$2,310,990$20,800,023
93$33,698,902$4,793,792$2,301,367$22,724,065
94$37,046,408$4,938,905$2,288,680$24,838,880
95$40,732,530$5,088,301$2,272,740$27,163,781
96$44,791,720$5,242,099$2,253,349$29,720,049
97$49,261,939$5,400,425$2,230,299$32,531,129
98$54,185,015$5,563,404$2,203,372$35,622,854
99$59,607,044$5,731,168$2,172,342$39,023,690
100$65,578,817$5,903,850$2,136,970$42,765,001