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%12.1%
1 years$82,579$81,843$81,126$80,425$79,741$79,040
2 years$40,881$40,119$39,381$38,666$37,972$37,266
3 years$26,983$26,218$25,482$24,774$24,091$23,401
4 years$20,036$19,273$18,545$17,848$17,182$16,514
5 years$15,868$15,111$14,391$13,709$13,061$12,417
6 years$13,091$12,339$11,630$10,963$10,335$9,715
7 years$11,108$10,362$9,665$9,013$8,405$7,810
8 years$9,621$8,882$8,197$7,561$6,973$6,403
9 years$8,466$7,734$7,060$6,440$5,872$5,327
10 years$7,542$6,817$6,155$5,552$5,003$4,482
11 years$6,786$6,069$5,419$4,832$4,303$3,806
12 years$6,157$5,447$4,809$4,238$3,729$3,255
13 years$5,625$4,922$4,296$3,742$3,252$2,801
14 years$5,170$4,474$3,860$3,321$2,850$2,422
15 years$4,775$4,087$3,485$2,962$2,510$2,103
16 years$4,430$3,750$3,160$2,652$2,218$1,833
17 years$4,126$3,454$2,875$2,383$1,967$1,602
18 years$3,857$3,191$2,625$2,148$1,749$1,403
19 years$3,615$2,958$2,403$1,940$1,559$1,232
20 years$3,399$2,748$2,205$1,757$1,392$1,084
21 years$3,203$2,560$2,029$1,595$1,246$956
22 years$3,025$2,390$1,870$1,450$1,117$843
23 years$2,863$2,235$1,726$1,321$1,002$745
24 years$2,714$2,094$1,596$1,205$901$659
25 years$2,578$1,965$1,479$1,100$811$584
26 years$2,453$1,847$1,371$1,006$730$517
27 years$2,336$1,738$1,273$921$658$459
28 years$2,229$1,638$1,184$844$594$407
29 years$2,129$1,545$1,102$774$537$362
30 years$2,036$1,459$1,026$710$485$321
31 years$1,949$1,380$957$652$438$286
32 years$1,867$1,305$893$599$396$254
33 years$1,791$1,236$833$551$359$226
34 years$1,719$1,172$779$507$325$201
35 years$1,652$1,111$728$467$294$179
36 years$1,588$1,055$681$430$267$159
37 years$1,528$1,002$637$396$242$142
38 years$1,472$952$597$365$219$126
39 years$1,418$905$559$337$199$112
40 years$1,367$861$524$310$180$100
41 years$1,319$820$492$286$163$89
42 years$1,273$781$461$264$148$80
43 years$1,230$744$433$244$135$71
44 years$1,188$709$406$225$122$63
45 years$1,149$676$381$208$111$56
46 years$1,111$645$358$192$101$50
47 years$1,075$616$336$178$91$45
48 years$1,041$588$316$164$83$40
49 years$1,008$561$297$152$75$36
50 years$976$536$279$140$69$32

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 $6,166 every year, while hoping to spend $39,140 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: 35/36/29 Blend
60$1,000,000$1,000,000$1,000,000$1,000,000
61$1,108,360$1,055,360$1,039,860$1,137,301
62$1,179,768$1,065,428$1,033,051$1,169,632
63$1,257,148$1,074,678$1,024,702$1,200,550
64$1,341,068$1,083,027$1,014,720$1,233,165
65$1,432,151$1,090,390$1,003,007$1,267,654
66$1,531,086$1,096,674$989,463$1,304,218
67$1,638,626$1,101,781$973,980$1,343,078
68$1,755,604$1,105,607$956,446$1,384,482
69$1,882,934$1,108,039$936,745$1,428,707
70$2,021,621$1,108,961$914,754$1,476,058
71$2,172,773$1,108,247$890,345$1,526,878
72$2,337,609$1,105,764$863,384$1,581,546
73$2,517,469$1,101,370$833,732$1,640,484
74$2,713,829$1,094,916$801,240$1,704,162
75$2,928,315$1,086,242$765,757$1,773,099
76$3,162,715$1,075,180$727,122$1,847,874
77$3,419,000$1,061,551$685,168$1,929,129
78$3,699,336$1,045,166$639,720$2,017,577
79$4,006,112$1,025,822$590,594$2,114,008
80$4,341,956$1,003,309$537,600$2,219,298
81$4,709,764$977,400$480,538$2,334,419
82$5,112,724$947,856$419,200$2,460,449
83$5,554,347$914,426$353,367$2,598,581
84$6,038,498$876,841$282,814$2,750,138
85$6,569,438$834,819$207,301$2,916,584
86$7,151,857$788,061$126,582$3,099,541
87$7,790,921$736,251$40,397$3,300,806
88$8,492,322$679,054$0$3,522,365
89$9,262,327$616,116$0$3,782,380
90$10,107,841$547,063$0$4,081,700
91$11,036,472$471,500$0$4,410,598
92$12,056,599$389,010$0$4,772,147
93$13,177,453$299,152$0$5,169,739
94$14,409,203$201,460$0$5,607,120
95$15,763,052$95,442$0$6,088,426
96$17,251,343$0$0$6,618,219
97$18,887,675$0$0$7,209,230
98$20,687,028$0$0$7,900,854
99$22,665,909$0$0$8,661,647
100$24,842,503$0$0$9,498,621