Can I retire at age 61 with 1,470,000?

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 $1,470,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$121,391$120,310$119,255$118,225$117,220$115,899
2 years$60,095$58,975$57,891$56,839$55,819$54,490
3 years$39,665$38,541$37,459$36,417$35,414$34,117
4 years$29,452$28,332$27,261$26,237$25,257$24,003
5 years$23,326$22,212$21,155$20,152$19,200$17,992
6 years$19,244$18,138$17,097$16,116$15,193$14,032
7 years$16,329$15,232$14,207$13,250$12,356$11,243
8 years$14,143$13,057$12,049$11,115$10,250$9,185
9 years$12,444$11,368$10,378$9,467$8,632$7,615
10 years$11,086$10,021$9,048$8,161$7,355$6,384
11 years$9,976$8,921$7,965$7,103$6,326$5,401
12 years$9,051$8,007$7,069$6,230$5,482$4,602
13 years$8,269$7,236$6,316$5,500$4,780$3,944
14 years$7,599$6,577$5,675$4,882$4,190$3,397
15 years$7,020$6,008$5,124$4,354$3,689$2,938
16 years$6,513$5,513$4,645$3,899$3,261$2,550
17 years$6,066$5,077$4,227$3,503$2,891$2,219
18 years$5,669$4,691$3,859$3,157$2,571$1,936
19 years$5,315$4,348$3,532$2,852$2,291$1,693
20 years$4,996$4,040$3,242$2,583$2,047$1,483
21 years$4,708$3,763$2,982$2,345$1,831$1,301
22 years$4,447$3,513$2,748$2,132$1,642$1,143
23 years$4,208$3,286$2,538$1,942$1,474$1,005
24 years$3,990$3,078$2,347$1,771$1,325$885
25 years$3,790$2,889$2,174$1,617$1,192$780
26 years$3,605$2,715$2,016$1,479$1,074$688
27 years$3,435$2,555$1,872$1,353$968$607
28 years$3,276$2,408$1,740$1,240$873$536
29 years$3,129$2,271$1,619$1,137$789$474
30 years$2,992$2,145$1,508$1,044$713$419
31 years$2,864$2,028$1,406$958$644$371
32 years$2,745$1,919$1,312$881$583$328
33 years$2,633$1,817$1,225$810$527$290
34 years$2,527$1,722$1,145$745$478$257
35 years$2,428$1,633$1,070$686$433$228
36 years$2,335$1,550$1,001$632$392$202
37 years$2,247$1,473$937$582$355$179
38 years$2,163$1,399$877$537$322$158
39 years$2,084$1,331$822$495$292$140
40 years$2,010$1,266$771$456$265$124
41 years$1,939$1,205$723$421$240$110
42 years$1,872$1,148$678$389$218$98
43 years$1,808$1,094$636$359$198$87
44 years$1,747$1,042$597$331$180$77
45 years$1,689$994$561$306$163$68
46 years$1,633$948$526$283$148$60
47 years$1,580$905$495$261$134$54
48 years$1,530$864$465$241$122$48
49 years$1,481$825$437$223$111$42
50 years$1,435$788$411$206$101$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,470,000, adding $3,616 every year, while hoping to spend $30,203 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: 64/11/25 Blend
60$1,470,000$1,470,000$1,470,000$1,470,000
61$1,623,670$1,545,760$1,522,975$1,716,711
62$1,757,148$1,589,366$1,541,859$1,823,597
63$1,903,230$1,634,097$1,560,363$1,936,647
64$2,063,167$1,679,976$1,578,443$2,059,496
65$2,238,341$1,727,025$1,596,052$2,193,106
66$2,430,271$1,775,269$1,613,139$2,338,540
67$2,640,633$1,824,731$1,629,653$2,496,969
68$2,871,269$1,875,435$1,645,538$2,669,680
69$3,124,211$1,927,404$1,660,736$2,858,095
70$3,401,695$1,980,661$1,675,185$3,063,777
71$3,706,185$2,035,231$1,688,821$3,288,451
72$4,040,395$2,091,136$1,701,576$3,534,015
73$4,407,314$2,148,401$1,713,378$3,802,561
74$4,810,235$2,207,047$1,724,151$4,096,397
75$5,252,785$2,267,099$1,733,816$4,418,061
76$5,738,961$2,328,578$1,742,290$4,770,354
77$6,273,163$2,391,507$1,749,486$5,156,361
78$6,860,243$2,455,908$1,755,310$5,579,480
79$7,505,541$2,521,801$1,759,667$6,043,457
80$8,214,946$2,589,209$1,762,455$6,552,419
81$8,994,940$2,658,150$1,763,567$7,110,916
82$9,852,669$2,728,644$1,762,892$7,723,959
83$10,796,004$2,800,711$1,760,311$8,397,072
84$11,833,618$2,874,367$1,755,703$9,136,343
85$12,975,065$2,949,629$1,748,938$9,948,478
86$14,230,875$3,026,514$1,739,880$10,840,870
87$15,612,646$3,105,035$1,728,388$11,821,665
88$17,133,160$3,185,205$1,714,313$12,899,841
89$18,806,499$3,267,037$1,697,499$14,085,291
90$20,648,179$3,350,540$1,677,783$15,388,917
91$22,675,299$3,435,722$1,654,994$16,822,736
92$24,906,697$3,522,590$1,628,954$18,399,989
93$27,363,131$3,611,147$1,599,474$20,135,267
94$30,067,473$3,701,396$1,566,360$22,044,653
95$33,044,928$3,793,337$1,529,405$24,145,869
96$36,323,265$3,886,965$1,488,395$26,458,445
97$39,933,088$3,982,276$1,443,106$29,003,907
98$43,908,115$4,079,260$1,393,302$31,805,973
99$48,285,503$4,177,904$1,338,738$34,890,787
100$53,106,196$4,278,193$1,279,157$38,287,155