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

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 $1,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$82,579$81,843$81,126$80,425$79,741$77,531
2 years$40,881$40,119$39,381$38,666$37,972$35,761
3 years$26,983$26,218$25,482$24,774$24,091$21,950
4 years$20,036$19,273$18,545$17,848$17,182$15,126
5 years$15,868$15,111$14,391$13,709$13,061$11,097
6 years$13,091$12,339$11,630$10,963$10,335$8,464
7 years$11,108$10,362$9,665$9,013$8,405$6,627
8 years$9,621$8,882$8,197$7,561$6,973$5,287
9 years$8,466$7,734$7,060$6,440$5,872$4,277
10 years$7,542$6,817$6,155$5,552$5,003$3,496
11 years$6,786$6,069$5,419$4,832$4,303$2,882
12 years$6,157$5,447$4,809$4,238$3,729$2,392
13 years$5,625$4,922$4,296$3,742$3,252$1,995
14 years$5,170$4,474$3,860$3,321$2,850$1,671
15 years$4,775$4,087$3,485$2,962$2,510$1,405
16 years$4,430$3,750$3,160$2,652$2,218$1,184
17 years$4,126$3,454$2,875$2,383$1,967$1,001
18 years$3,857$3,191$2,625$2,148$1,749$848
19 years$3,615$2,958$2,403$1,940$1,559$719
20 years$3,399$2,748$2,205$1,757$1,392$611
21 years$3,203$2,560$2,029$1,595$1,246$519
22 years$3,025$2,390$1,870$1,450$1,117$442
23 years$2,863$2,235$1,726$1,321$1,002$377
24 years$2,714$2,094$1,596$1,205$901$321
25 years$2,578$1,965$1,479$1,100$811$274
26 years$2,453$1,847$1,371$1,006$730$234
27 years$2,336$1,738$1,273$921$658$200
28 years$2,229$1,638$1,184$844$594$171
29 years$2,129$1,545$1,102$774$537$146
30 years$2,036$1,459$1,026$710$485$125
31 years$1,949$1,380$957$652$438$107
32 years$1,867$1,305$893$599$396$91
33 years$1,791$1,236$833$551$359$78
34 years$1,719$1,172$779$507$325$67
35 years$1,652$1,111$728$467$294$57
36 years$1,588$1,055$681$430$267$49
37 years$1,528$1,002$637$396$242$42
38 years$1,472$952$597$365$219$36
39 years$1,418$905$559$337$199$31
40 years$1,367$861$524$310$180$26
41 years$1,319$820$492$286$163$22
42 years$1,273$781$461$264$148$19
43 years$1,230$744$433$244$135$16
44 years$1,188$709$406$225$122$14
45 years$1,149$676$381$208$111$12
46 years$1,111$645$358$192$101$10
47 years$1,075$616$336$178$91$9
48 years$1,041$588$316$164$83$8
49 years$1,008$561$297$152$75$6
50 years$976$536$279$140$69$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,000,000, adding $6,519 every year, while hoping to spend $48,906 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: 53/27/20 Blend
60$1,000,000$1,000,000$1,000,000$1,000,000
61$1,108,724$1,055,724$1,040,224$1,161,091
62$1,169,779$1,055,419$1,023,036$1,197,459
63$1,235,421$1,053,460$1,003,633$1,231,354
64$1,306,069$1,049,714$981,889$1,267,186
65$1,382,178$1,044,041$957,673$1,305,155
66$1,464,252$1,036,290$930,847$1,345,484
67$1,552,842$1,026,304$901,266$1,388,421
68$1,648,553$1,013,915$868,781$1,434,240
69$1,752,053$998,944$833,232$1,483,248
70$1,864,074$981,204$794,456$1,535,786
71$1,985,420$960,493$752,281$1,592,231
72$2,116,976$936,600$706,526$1,653,003
73$2,259,716$909,302$657,003$1,718,569
74$2,414,709$878,361$603,515$1,789,446
75$2,583,134$843,525$545,857$1,866,208
76$2,766,285$804,529$483,815$1,949,491
77$2,965,588$761,092$417,164$2,040,004
78$3,182,609$712,917$345,670$2,138,528
79$3,419,073$659,688$269,089$2,245,931
80$3,676,881$601,075$187,165$2,363,177
81$3,958,120$536,725$99,632$2,491,330
82$4,265,090$466,266$6,212$2,631,572
83$4,600,324$389,308$0$2,785,211
84$4,966,607$305,435$0$2,973,643
85$5,367,009$214,209$0$3,181,233
86$5,804,907$115,168$0$3,408,496
87$6,284,019$7,823$0$3,657,466
88$6,808,443$0$0$3,930,387
89$7,382,686$0$0$4,261,928
90$8,011,715$0$0$4,627,743
91$8,700,998$0$0$5,028,702
92$9,456,560$0$0$5,468,319
93$10,285,032$0$0$5,950,468
94$11,193,722$0$0$6,479,414
95$12,190,676$0$0$7,059,856
96$13,284,758$0$0$7,696,968
97$14,485,732$0$0$8,396,452
98$15,804,351$0$0$9,164,586
99$17,252,464$0$0$10,008,288
100$18,843,120$0$0$10,935,179