Can I retire at age 61 with 1,070,000?

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 $1,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$88,360$87,573$86,805$86,055$85,323$84,928
2 years$43,742$42,928$42,138$41,373$40,630$40,231
3 years$28,872$28,054$27,266$26,508$25,777$25,387
4 years$21,438$20,622$19,843$19,097$18,385$18,006
5 years$16,979$16,168$15,399$14,669$13,976$13,610
6 years$14,007$13,203$12,445$11,731$11,059$10,706
7 years$11,885$11,088$10,341$9,644$8,994$8,654
8 years$10,295$9,504$8,770$8,090$7,461$7,135
9 years$9,058$8,275$7,554$6,891$6,283$5,971
10 years$8,070$7,294$6,586$5,940$5,354$5,054
11 years$7,261$6,493$5,798$5,170$4,604$4,318
12 years$6,588$5,828$5,146$4,535$3,990$3,717
13 years$6,019$5,267$4,597$4,003$3,479$3,219
14 years$5,531$4,788$4,131$3,554$3,050$2,801
15 years$5,109$4,373$3,729$3,169$2,685$2,449
16 years$4,741$4,013$3,381$2,838$2,373$2,148
17 years$4,415$3,695$3,077$2,550$2,104$1,891
18 years$4,127$3,415$2,809$2,298$1,871$1,668
19 years$3,869$3,165$2,571$2,076$1,668$1,476
20 years$3,637$2,941$2,360$1,880$1,490$1,308
21 years$3,427$2,739$2,171$1,707$1,333$1,161
22 years$3,237$2,557$2,000$1,552$1,195$1,032
23 years$3,063$2,392$1,847$1,413$1,073$919
24 years$2,904$2,241$1,708$1,289$964$819
25 years$2,759$2,103$1,582$1,177$868$731
26 years$2,624$1,976$1,467$1,076$781$653
27 years$2,500$1,860$1,363$985$705$584
28 years$2,385$1,753$1,267$903$636$522
29 years$2,278$1,653$1,179$828$574$467
30 years$2,178$1,561$1,098$760$519$419
31 years$2,085$1,476$1,024$698$469$375
32 years$1,998$1,397$955$641$424$336
33 years$1,916$1,323$892$590$384$302
34 years$1,840$1,254$833$543$348$271
35 years$1,767$1,189$779$499$315$243
36 years$1,699$1,129$729$460$285$218
37 years$1,635$1,072$682$424$259$196
38 years$1,575$1,019$639$391$234$176
39 years$1,517$969$598$360$213$158
40 years$1,463$922$561$332$193$142
41 years$1,411$877$526$306$175$128
42 years$1,362$835$493$283$159$115
43 years$1,316$796$463$261$144$103
44 years$1,271$759$435$241$131$93
45 years$1,229$724$408$223$119$83
46 years$1,189$690$383$206$108$75
47 years$1,150$659$360$190$98$67
48 years$1,113$629$338$176$89$61
49 years$1,078$600$318$162$81$55
50 years$1,045$574$299$150$73$49

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,070,000, adding $4,148 every year, while hoping to spend $56,047 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: 46/28/26 Blend
60$1,070,000$1,070,000$1,070,000$1,070,000
61$1,183,419$1,126,709$1,110,124$1,228,840
62$1,244,494$1,122,284$1,087,679$1,256,902
63$1,309,920$1,115,764$1,062,604$1,281,545
64$1,380,082$1,106,986$1,034,752$1,307,184
65$1,455,402$1,095,780$1,003,968$1,333,940
66$1,536,343$1,081,964$970,091$1,361,953
67$1,623,414$1,065,343$932,952$1,391,377
68$1,717,172$1,045,715$892,376$1,422,388
69$1,818,231$1,022,863$848,178$1,455,185
70$1,927,264$996,556$800,166$1,489,990
71$2,045,011$966,553$748,137$1,527,052
72$2,172,285$932,597$691,882$1,566,652
73$2,309,979$894,416$631,181$1,609,104
74$2,459,076$851,721$565,805$1,654,760
75$2,620,655$804,209$495,513$1,704,013
76$2,795,904$751,557$420,055$1,757,304
77$2,986,129$693,426$339,169$1,815,125
78$3,192,765$629,455$252,583$1,878,024
79$3,417,393$559,265$160,010$1,946,615
80$3,661,751$482,452$61,154$2,021,581
81$3,927,750$398,593$0$2,103,682
82$4,217,495$307,238$0$2,206,068
83$4,533,300$207,914$0$2,336,287
84$4,877,716$100,120$0$2,478,498
85$5,253,545$0$0$2,633,968
86$5,663,875$0$0$2,809,234
87$6,112,104$0$0$3,034,501
88$6,601,974$0$0$3,280,815
89$7,137,604$0$0$3,550,262
90$7,723,528$0$0$3,845,139
91$8,364,740$0$0$4,167,974
92$9,066,738$0$0$4,521,554
93$9,835,577$0$0$4,908,946
94$10,677,924$0$0$5,333,526
95$11,601,123$0$0$5,799,015
96$12,613,261$0$0$6,309,510
97$13,723,244$0$0$6,869,525
98$14,940,885$0$0$7,484,028
99$16,276,987$0$0$8,158,496
100$17,743,454$0$0$8,898,960