Can I retire at age 61 with 1,420,000?

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 $1,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$117,262$116,218$115,199$114,204$113,233$109,520
2 years$58,051$56,969$55,922$54,906$53,920$50,216
3 years$38,316$37,230$36,185$35,179$34,209$30,629
4 years$28,451$27,368$26,333$25,344$24,398$20,969
5 years$22,533$21,457$20,436$19,467$18,547$15,278
6 years$18,589$17,521$16,515$15,568$14,676$11,570
7 years$15,773$14,714$13,724$12,799$11,935$8,992
8 years$13,662$12,613$11,639$10,737$9,902$7,119
9 years$12,021$10,982$10,025$9,145$8,339$5,714
10 years$10,709$9,680$8,740$7,883$7,105$4,633
11 years$9,636$8,617$7,694$6,861$6,110$3,788
12 years$8,743$7,735$6,829$6,018$5,295$3,116
13 years$7,988$6,990$6,101$5,313$4,617$2,576
14 years$7,341$6,354$5,482$4,716$4,048$2,139
15 years$6,781$5,804$4,949$4,206$3,564$1,782
16 years$6,291$5,325$4,487$3,766$3,150$1,488
17 years$5,860$4,904$4,083$3,384$2,793$1,246
18 years$5,476$4,532$3,727$3,049$2,483$1,045
19 years$5,134$4,200$3,412$2,755$2,213$877
20 years$4,826$3,903$3,132$2,496$1,977$738
21 years$4,548$3,635$2,880$2,265$1,769$621
22 years$4,295$3,393$2,655$2,059$1,586$524
23 years$4,065$3,174$2,451$1,875$1,424$442
24 years$3,855$2,974$2,267$1,711$1,280$373
25 years$3,661$2,791$2,100$1,562$1,151$315
26 years$3,483$2,623$1,947$1,428$1,037$266
27 years$3,318$2,468$1,808$1,307$935$225
28 years$3,165$2,326$1,681$1,198$844$190
29 years$3,023$2,194$1,564$1,098$762$160
30 years$2,891$2,072$1,457$1,008$688$136
31 years$2,767$1,959$1,358$926$622$115
32 years$2,651$1,854$1,267$851$563$97
33 years$2,543$1,755$1,183$782$509$82
34 years$2,441$1,664$1,106$720$461$70
35 years$2,346$1,578$1,034$663$418$59
36 years$2,255$1,498$967$610$379$50
37 years$2,170$1,422$905$562$343$42
38 years$2,090$1,352$848$518$311$36
39 years$2,014$1,285$794$478$282$30
40 years$1,941$1,223$744$441$256$26
41 years$1,873$1,164$698$407$232$22
42 years$1,808$1,109$655$375$211$18
43 years$1,746$1,056$614$347$191$16
44 years$1,687$1,007$577$320$173$13
45 years$1,631$960$541$295$158$11
46 years$1,578$916$509$273$143$9
47 years$1,527$874$478$252$130$8
48 years$1,478$835$449$233$118$7
49 years$1,431$797$422$215$107$6
50 years$1,386$761$397$199$97$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,420,000, adding $5,152 every year, while hoping to spend $44,813 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: 38/32/30 Blend
60$1,420,000$1,420,000$1,420,000$1,420,000
61$1,570,154$1,494,894$1,472,884$1,615,649
62$1,682,629$1,520,463$1,474,545$1,675,265
63$1,805,075$1,545,784$1,474,760$1,735,203
64$1,938,461$1,570,795$1,473,432$1,799,144
65$2,083,854$1,595,434$1,470,462$1,867,482
66$2,242,428$1,619,632$1,465,745$1,940,653
67$2,415,478$1,643,315$1,459,168$2,019,139
68$2,604,424$1,666,405$1,450,618$2,103,475
69$2,810,833$1,688,817$1,439,972$2,194,251
70$3,036,431$1,710,462$1,427,103$2,292,118
71$3,283,114$1,731,242$1,411,879$2,397,798
72$3,552,973$1,751,054$1,394,159$2,512,089
73$3,848,310$1,769,790$1,373,797$2,635,872
74$4,171,659$1,787,331$1,350,640$2,770,122
75$4,525,810$1,803,552$1,324,528$2,915,917
76$4,913,837$1,818,320$1,295,294$3,074,445
77$5,339,124$1,831,494$1,262,762$3,247,023
78$5,805,399$1,842,921$1,226,749$3,435,105
79$6,316,767$1,852,441$1,187,062$3,640,295
80$6,877,749$1,859,883$1,143,501$3,864,368
81$7,493,328$1,865,065$1,095,856$4,109,284
82$8,168,987$1,867,793$1,043,907$4,377,207
83$8,910,771$1,867,862$987,426$4,670,528
84$9,725,336$1,865,054$926,171$4,991,886
85$10,620,016$1,859,137$859,893$5,344,198
86$11,602,887$1,849,865$788,329$5,730,682
87$12,682,850$1,836,976$711,207$6,154,893
88$13,869,708$1,820,195$628,239$6,620,755
89$15,174,261$1,799,228$539,128$7,132,599
90$16,608,409$1,773,763$443,562$7,695,208
91$18,185,261$1,743,472$341,215$8,313,861
92$19,919,259$1,708,004$231,748$8,994,382
93$21,826,317$1,666,989$114,805$9,743,201
94$23,923,967$1,620,037$0$10,567,415
95$26,231,525$1,566,732$0$11,478,051
96$28,770,274$1,506,636$0$12,519,979
97$31,563,664$1,439,284$0$13,666,071
98$34,637,533$1,364,184$0$14,926,983
99$38,020,350$1,280,817$0$16,314,460
100$41,743,482$1,188,634$0$17,841,453