Can I retire at age 61 with 1,140,000?

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 $1,140,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$94,140$93,302$92,483$91,685$90,905$89,216
2 years$46,604$45,736$44,895$44,079$43,288$41,592
3 years$30,761$29,889$29,050$28,242$27,464$25,815
4 years$22,841$21,972$21,141$20,347$19,587$17,997
5 years$18,090$17,226$16,406$15,628$14,890$13,364
6 years$14,924$14,066$13,259$12,498$11,782$10,321
7 years$12,663$11,813$11,018$10,275$9,582$8,187
8 years$10,968$10,126$9,344$8,620$7,949$6,620
9 years$9,651$8,816$8,048$7,342$6,694$5,430
10 years$8,597$7,771$7,017$6,329$5,704$4,503
11 years$7,736$6,918$6,177$5,508$4,906$3,766
12 years$7,019$6,209$5,482$4,831$4,251$3,172
13 years$6,413$5,612$4,898$4,265$3,707$2,687
14 years$5,893$5,101$4,401$3,786$3,250$2,287
15 years$5,444$4,660$3,973$3,377$2,861$1,953
16 years$5,051$4,275$3,602$3,023$2,529$1,674
17 years$4,704$3,937$3,278$2,717$2,242$1,438
18 years$4,397$3,638$2,992$2,448$1,994$1,239
19 years$4,122$3,372$2,739$2,212$1,777$1,069
20 years$3,874$3,133$2,514$2,004$1,587$924
21 years$3,651$2,918$2,313$1,818$1,420$800
22 years$3,448$2,724$2,131$1,653$1,273$693
23 years$3,264$2,548$1,968$1,506$1,143$601
24 years$3,094$2,387$1,820$1,373$1,027$522
25 years$2,939$2,240$1,686$1,254$924$454
26 years$2,796$2,106$1,563$1,147$833$394
27 years$2,664$1,982$1,452$1,050$751$343
28 years$2,541$1,867$1,350$962$677$299
29 years$2,427$1,762$1,256$882$612$260
30 years$2,321$1,664$1,170$809$553$227
31 years$2,221$1,573$1,091$743$500$197
32 years$2,129$1,488$1,018$683$452$172
33 years$2,042$1,409$950$628$409$150
34 years$1,960$1,336$888$578$370$131
35 years$1,883$1,267$830$532$335$114
36 years$1,811$1,202$776$490$304$100
37 years$1,742$1,142$727$451$275$87
38 years$1,678$1,085$681$416$250$76
39 years$1,616$1,032$638$384$226$66
40 years$1,559$982$598$354$205$58
41 years$1,504$935$560$327$186$50
42 years$1,451$890$526$301$169$44
43 years$1,402$848$493$278$153$38
44 years$1,354$808$463$257$139$34
45 years$1,309$771$435$237$126$29
46 years$1,267$735$408$219$115$26
47 years$1,226$702$384$202$104$22
48 years$1,186$670$360$187$95$19
49 years$1,149$640$339$173$86$17
50 years$1,113$611$319$160$78$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,140,000, adding $6,888 every year, while hoping to spend $26,511 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: 69/11/20 Blend
60$1,140,000$1,140,000$1,140,000$1,140,000
61$1,263,385$1,202,965$1,185,295$1,343,877
62$1,364,043$1,233,703$1,196,795$1,429,252
63$1,474,079$1,265,058$1,207,791$1,518,885
64$1,594,423$1,297,033$1,218,240$1,616,317
65$1,726,096$1,329,630$1,228,093$1,722,315
66$1,870,224$1,362,849$1,237,301$1,837,724
67$2,028,048$1,396,689$1,245,812$1,963,477
68$2,200,933$1,431,151$1,253,570$2,100,600
69$2,390,381$1,466,230$1,260,517$2,250,225
70$2,598,049$1,501,925$1,266,594$2,413,598
71$2,825,760$1,538,229$1,271,735$2,592,091
72$3,075,523$1,575,138$1,275,874$2,787,217
73$3,349,551$1,612,644$1,278,940$3,000,644
74$3,650,280$1,650,738$1,280,859$3,234,207
75$3,980,393$1,689,410$1,281,553$3,489,931
76$4,342,849$1,728,646$1,280,940$3,770,045
77$4,740,903$1,768,434$1,278,936$4,077,008
78$5,178,144$1,808,756$1,275,449$4,413,526
79$5,658,525$1,849,594$1,270,386$4,782,584
80$6,186,398$1,890,928$1,263,648$5,187,469
81$6,766,562$1,932,735$1,255,131$5,631,806
82$7,404,301$1,974,989$1,244,728$6,119,587
83$8,105,437$2,017,661$1,232,324$6,655,213
84$8,876,385$2,060,719$1,217,800$7,243,533
85$9,724,211$2,104,130$1,201,031$7,889,892
86$10,656,703$2,147,854$1,181,888$8,600,177
87$11,682,438$2,191,850$1,160,232$9,380,881
88$12,810,869$2,236,073$1,135,922$10,239,154
89$14,052,409$2,280,473$1,108,808$11,182,880
90$15,418,534$2,324,995$1,078,732$12,220,744
91$16,921,887$2,369,582$1,045,531$13,362,320
92$18,576,397$2,414,169$1,009,034$14,618,157
93$20,397,414$2,458,688$969,062$15,999,883
94$22,401,851$2,503,064$925,426$17,520,310
95$24,608,344$2,547,218$877,932$19,193,558
96$27,037,426$2,591,063$826,373$21,035,189
97$29,711,724$2,634,506$770,537$23,062,354
98$32,656,169$2,677,446$710,200$25,293,952
99$35,898,234$2,719,777$645,128$27,750,811
100$39,468,191$2,761,383$575,076$30,455,887