Can I retire at age 61 with 1,010,000?

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 $1,010,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$83,405$82,662$81,937$81,230$80,539$78,086
2 years$41,290$40,521$39,775$39,053$38,352$35,902
3 years$27,253$26,481$25,737$25,021$24,332$21,961
4 years$20,236$19,466$18,730$18,027$17,354$15,081
5 years$16,027$15,262$14,535$13,846$13,192$11,023
6 years$13,222$12,462$11,747$11,073$10,438$8,375
7 years$11,219$10,466$9,762$9,104$8,489$6,531
8 years$9,717$8,971$8,279$7,637$7,043$5,189
9 years$8,550$7,811$7,130$6,505$5,931$4,180
10 years$7,617$6,885$6,216$5,607$5,053$3,402
11 years$6,854$6,129$5,473$4,880$4,346$2,792
12 years$6,219$5,501$4,857$4,280$3,766$2,306
13 years$5,681$4,972$4,339$3,779$3,284$1,915
14 years$5,221$4,519$3,899$3,355$2,879$1,596
15 years$4,823$4,128$3,520$2,992$2,535$1,335
16 years$4,475$3,788$3,192$2,679$2,240$1,120
17 years$4,168$3,488$2,904$2,407$1,986$942
18 years$3,895$3,223$2,651$2,169$1,766$793
19 years$3,652$2,987$2,427$1,960$1,574$669
20 years$3,433$2,776$2,227$1,775$1,406$566
21 years$3,235$2,586$2,049$1,611$1,258$478
22 years$3,055$2,414$1,888$1,465$1,128$405
23 years$2,891$2,257$1,743$1,334$1,013$343
24 years$2,742$2,115$1,612$1,217$910$291
25 years$2,604$1,985$1,493$1,111$819$247
26 years$2,477$1,865$1,385$1,016$738$210
27 years$2,360$1,756$1,286$930$665$178
28 years$2,251$1,654$1,196$852$600$151
29 years$2,150$1,561$1,113$781$542$128
30 years$2,056$1,474$1,036$717$490$109
31 years$1,968$1,393$966$659$443$93
32 years$1,886$1,318$901$605$400$79
33 years$1,809$1,248$842$557$362$67
34 years$1,736$1,183$786$512$328$57
35 years$1,668$1,122$735$471$297$49
36 years$1,604$1,065$688$434$269$41
37 years$1,544$1,012$644$400$244$35
38 years$1,486$962$603$369$221$30
39 years$1,432$914$565$340$201$25
40 years$1,381$870$529$314$182$22
41 years$1,332$828$496$289$165$18
42 years$1,286$789$466$267$150$16
43 years$1,242$751$437$246$136$13
44 years$1,200$716$410$228$123$11
45 years$1,160$683$385$210$112$10
46 years$1,122$652$362$194$102$8
47 years$1,086$622$340$179$92$7
48 years$1,051$594$319$166$84$6
49 years$1,018$567$300$153$76$5
50 years$986$541$282$142$69$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,010,000, adding $4,180 every year, while hoping to spend $41,362 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: 37/37/26 Blend
60$1,010,000$1,010,000$1,010,000$1,010,000
61$1,117,332$1,063,802$1,048,147$1,149,843
62$1,187,291$1,071,919$1,039,251$1,182,249
63$1,262,999$1,079,048$1,028,671$1,213,132
64$1,345,000$1,085,096$1,016,306$1,245,684
65$1,433,890$1,089,966$1,002,052$1,280,083
66$1,530,325$1,093,553$985,799$1,316,527
67$1,635,027$1,095,746$967,433$1,355,236
68$1,748,791$1,096,428$946,832$1,396,455
69$1,872,488$1,095,473$923,871$1,440,459
70$2,007,080$1,092,750$898,419$1,487,552
71$2,153,623$1,088,116$870,338$1,538,074
72$2,313,281$1,081,422$839,483$1,592,403
73$2,487,335$1,072,510$805,704$1,650,958
74$2,677,191$1,061,212$768,843$1,714,206
75$2,884,402$1,047,348$728,737$1,782,666
76$3,110,674$1,030,731$685,212$1,856,914
77$3,357,885$1,011,159$638,089$1,937,592
78$3,628,104$988,421$587,180$2,025,409
79$3,923,609$962,292$532,289$2,121,153
80$4,246,906$932,534$473,210$2,225,701
81$4,600,758$898,895$409,729$2,340,023
82$4,988,203$861,108$341,623$2,465,194
83$5,412,589$818,892$268,657$2,602,408
84$5,877,604$771,949$190,588$2,752,987
85$6,387,308$719,963$107,162$2,918,396
86$6,946,173$662,601$18,111$3,100,257
87$7,559,124$599,509$0$3,300,368
88$8,231,586$530,316$0$3,542,058
89$8,969,534$454,628$0$3,812,938
90$9,779,550$372,028$0$4,110,500
91$10,668,883$282,078$0$4,437,530
92$11,645,522$184,311$0$4,797,103
93$12,718,262$78,240$0$5,192,615
94$13,896,796$0$0$5,627,817
95$15,191,801$0$0$6,121,772
96$16,615,038$0$0$6,699,798
97$18,179,466$0$0$7,335,321
98$19,899,362$0$0$8,034,160
99$21,790,452$0$0$8,802,726
100$23,870,067$0$0$9,648,081