Can I retire at age 61 with 1,370,000?

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 $1,370,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$113,133$112,126$111,142$110,183$109,246$104,953
2 years$56,007$54,964$53,953$52,972$52,022$47,749
3 years$36,967$35,919$34,911$33,940$33,005$28,887
4 years$27,449$26,404$25,406$24,452$23,539$19,608
5 years$21,740$20,701$19,716$18,781$17,894$14,159
6 years$17,935$16,904$15,934$15,020$14,159$10,623
7 years$15,218$14,196$13,241$12,348$11,515$8,176
8 years$13,181$12,169$11,229$10,359$9,553$6,408
9 years$11,598$10,595$9,672$8,823$8,045$5,090
10 years$10,332$9,339$8,432$7,606$6,855$4,083
11 years$9,297$8,314$7,424$6,619$5,895$3,301
12 years$8,435$7,462$6,588$5,806$5,109$2,685
13 years$7,706$6,744$5,886$5,126$4,455$2,194
14 years$7,082$6,130$5,289$4,550$3,905$1,800
15 years$6,542$5,600$4,775$4,058$3,438$1,482
16 years$6,070$5,138$4,329$3,633$3,039$1,222
17 years$5,653$4,732$3,939$3,265$2,694$1,010
18 years$5,284$4,372$3,596$2,942$2,396$837
19 years$4,953$4,052$3,292$2,658$2,135$694
20 years$4,656$3,765$3,021$2,408$1,907$576
21 years$4,388$3,507$2,779$2,185$1,707$479
22 years$4,144$3,274$2,561$1,987$1,530$398
23 years$3,922$3,062$2,365$1,809$1,373$331
24 years$3,719$2,869$2,187$1,650$1,234$276
25 years$3,532$2,692$2,026$1,507$1,111$230
26 years$3,360$2,530$1,879$1,378$1,001$191
27 years$3,201$2,381$1,745$1,261$902$159
28 years$3,053$2,244$1,622$1,156$814$133
29 years$2,916$2,117$1,509$1,060$735$111
30 years$2,789$1,999$1,406$973$664$92
31 years$2,670$1,890$1,311$893$600$77
32 years$2,558$1,788$1,223$821$543$64
33 years$2,453$1,693$1,142$755$492$54
34 years$2,355$1,605$1,067$695$445$45
35 years$2,263$1,522$997$639$403$37
36 years$2,176$1,445$933$589$365$31
37 years$2,094$1,372$873$543$331$26
38 years$2,016$1,304$818$500$300$22
39 years$1,943$1,240$766$461$272$18
40 years$1,873$1,180$718$425$247$15
41 years$1,807$1,123$673$392$224$13
42 years$1,744$1,070$632$362$203$11
43 years$1,685$1,019$593$334$184$9
44 years$1,628$972$556$309$167$7
45 years$1,574$926$522$285$152$6
46 years$1,522$884$491$263$138$5
47 years$1,473$843$461$243$125$4
48 years$1,426$805$433$225$114$4
49 years$1,381$769$407$208$103$3
50 years$1,338$734$383$192$94$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,370,000, adding $6,462 every year, while hoping to spend $36,859 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: 76/12/12 Blend
60$1,370,000$1,370,000$1,370,000$1,370,000
61$1,516,406$1,443,796$1,422,561$1,627,608
62$1,631,861$1,475,324$1,430,999$1,733,331
63$1,757,858$1,507,162$1,438,484$1,843,900
64$1,895,432$1,539,285$1,444,946$1,964,078
65$2,045,725$1,571,669$1,450,310$2,094,807
66$2,209,991$1,604,283$1,454,498$2,237,127
67$2,389,614$1,637,097$1,457,427$2,392,181
68$2,586,116$1,670,076$1,459,013$2,561,229
69$2,801,173$1,703,183$1,459,163$2,745,660
70$3,036,631$1,736,377$1,457,783$2,947,003
71$3,294,523$1,769,615$1,454,774$3,166,941
72$3,577,086$1,802,848$1,450,031$3,407,332
73$3,886,787$1,836,025$1,443,445$3,670,219
74$4,226,339$1,869,090$1,434,900$3,957,855
75$4,598,733$1,901,983$1,424,277$4,272,722
76$5,007,262$1,934,639$1,411,449$4,617,555
77$5,455,555$1,966,988$1,396,284$4,995,367
78$5,947,606$1,998,955$1,378,644$5,409,478
79$6,487,817$2,030,460$1,358,384$5,863,546
80$7,081,037$2,061,415$1,335,353$6,361,603
81$7,732,607$2,091,727$1,309,391$6,908,090
82$8,448,409$2,121,299$1,280,332$7,507,902
83$9,234,926$2,150,022$1,248,003$8,166,433
84$10,099,299$2,177,783$1,212,221$8,889,627
85$11,049,394$2,204,461$1,172,796$9,684,032
86$12,093,877$2,229,924$1,129,530$10,556,868
87$13,242,297$2,254,035$1,082,213$11,516,087
88$14,505,173$2,276,645$1,030,630$12,570,454
89$15,894,096$2,297,595$974,551$13,729,629
90$17,421,835$2,316,719$913,740$15,004,256
91$19,102,459$2,333,835$847,947$16,406,065
92$20,951,470$2,348,753$776,914$17,947,982
93$22,985,948$2,361,271$700,369$19,644,255
94$25,224,712$2,371,170$618,028$21,510,581
95$27,688,497$2,378,222$529,596$23,564,262
96$30,400,151$2,382,181$434,764$25,824,364
97$33,384,847$2,382,788$333,209$28,311,898
98$36,670,324$2,379,768$224,595$31,050,020
99$40,287,146$2,372,826$108,568$34,064,248
100$44,268,993$2,361,653$0$37,382,703