Can I retire at age 61 with 1,320,000?

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 $1,320,000?

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$109,004$108,033$107,086$106,161$105,259$102,341
2 years$53,963$52,958$51,984$51,039$50,123$47,205
3 years$35,618$34,608$33,637$32,701$31,800$28,973
4 years$26,447$25,441$24,479$23,559$22,680$19,966
5 years$20,946$19,946$18,997$18,096$17,241$14,648
6 years$17,280$16,287$15,352$14,471$13,642$11,172
7 years$14,662$13,678$12,758$11,898$11,095$8,747
8 years$12,700$11,725$10,820$9,981$9,204$6,979
9 years$11,175$10,208$9,319$8,501$7,751$5,645
10 years$9,955$8,998$8,124$7,328$6,604$4,615
11 years$8,958$8,011$7,153$6,378$5,680$3,805
12 years$8,127$7,190$6,348$5,594$4,922$3,157
13 years$7,425$6,498$5,671$4,939$4,292$2,633
14 years$6,824$5,906$5,096$4,384$3,763$2,206
15 years$6,303$5,395$4,601$3,910$3,313$1,854
16 years$5,848$4,950$4,171$3,501$2,928$1,563
17 years$5,447$4,559$3,796$3,146$2,596$1,321
18 years$5,091$4,213$3,465$2,835$2,308$1,119
19 years$4,772$3,904$3,172$2,561$2,057$949
20 years$4,486$3,628$2,911$2,320$1,838$806
21 years$4,228$3,379$2,678$2,105$1,645$686
22 years$3,993$3,154$2,468$1,914$1,474$584
23 years$3,779$2,950$2,279$1,743$1,323$497
24 years$3,583$2,764$2,107$1,590$1,189$424
25 years$3,403$2,594$1,952$1,452$1,070$362
26 years$3,237$2,438$1,810$1,328$964$309
27 years$3,084$2,294$1,681$1,215$869$264
28 years$2,942$2,162$1,563$1,114$784$225
29 years$2,810$2,040$1,454$1,021$708$192
30 years$2,687$1,926$1,355$937$640$165
31 years$2,572$1,821$1,263$861$579$141
32 years$2,465$1,723$1,178$791$523$120
33 years$2,364$1,632$1,100$727$474$103
34 years$2,269$1,546$1,028$669$429$88
35 years$2,180$1,467$961$616$388$75
36 years$2,096$1,392$899$567$352$64
37 years$2,017$1,322$841$523$319$55
38 years$1,943$1,257$788$482$289$47
39 years$1,872$1,195$738$444$262$40
40 years$1,805$1,137$692$410$238$35
41 years$1,741$1,082$649$378$216$30
42 years$1,681$1,031$609$349$196$25
43 years$1,623$982$571$322$178$22
44 years$1,568$936$536$297$161$19
45 years$1,516$893$503$275$146$16
46 years$1,466$852$473$254$133$14
47 years$1,419$813$444$234$121$12
48 years$1,374$776$417$217$110$10
49 years$1,330$741$392$200$100$9
50 years$1,289$708$369$185$90$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,320,000, adding $4,129 every year, while hoping to spend $21,549 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: 34/49/17 Blend
60$1,320,000$1,320,000$1,320,000$1,320,000
61$1,458,899$1,388,939$1,368,479$1,500,710
62$1,584,779$1,434,069$1,391,395$1,576,848
63$1,722,776$1,480,688$1,414,357$1,656,596
64$1,874,104$1,528,847$1,437,342$1,742,136
65$2,040,099$1,578,597$1,460,330$1,833,992
66$2,222,233$1,629,992$1,483,295$1,932,737
67$2,422,127$1,683,087$1,506,211$2,039,004
68$2,641,566$1,737,941$1,529,052$2,153,486
69$2,882,519$1,794,613$1,551,788$2,276,947
70$3,147,151$1,853,165$1,574,388$2,410,224
71$3,437,850$1,913,660$1,596,820$2,554,239
72$3,757,246$1,976,164$1,619,048$2,710,005
73$4,108,235$2,040,746$1,641,037$2,878,636
74$4,494,010$2,107,477$1,662,746$3,061,358
75$4,918,085$2,176,430$1,684,134$3,259,518
76$5,384,336$2,247,681$1,705,158$3,474,600
77$5,897,028$2,321,308$1,725,772$3,708,234
78$6,460,866$2,397,392$1,745,926$3,962,216
79$7,081,029$2,476,019$1,765,569$4,238,521
80$7,763,224$2,557,274$1,784,646$4,539,323
81$8,513,742$2,641,249$1,803,100$4,867,014
82$9,339,510$2,728,037$1,820,870$5,224,229
83$10,248,163$2,817,735$1,837,893$5,613,866
84$11,248,114$2,910,442$1,854,101$6,039,117
85$12,348,632$3,006,263$1,869,423$6,503,495
86$13,559,928$3,105,306$1,883,784$7,010,871
87$14,893,255$3,207,681$1,897,106$7,565,502
88$16,361,014$3,313,504$1,909,306$8,172,081
89$17,976,867$3,422,895$1,920,297$8,835,772
90$19,755,869$3,535,978$1,929,988$9,562,264
91$21,714,607$3,652,881$1,938,282$10,357,821
92$23,871,361$3,773,736$1,945,079$11,229,343
93$26,246,273$3,898,682$1,950,272$12,184,429
94$28,861,537$4,027,862$1,953,751$13,231,449
95$31,741,609$4,161,423$1,955,397$14,379,621
96$34,913,439$4,299,518$1,955,089$15,639,100
97$38,406,723$4,442,307$1,952,697$17,021,071
98$42,254,183$4,589,954$1,948,086$18,537,857
99$46,491,878$4,742,631$1,941,116$20,203,031
100$51,159,543$4,900,513$1,931,636$22,031,546