Can I retire at age 61 with 1,480,000?

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 $1,480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$122,217$121,128$120,066$119,030$118,017$115,540
2 years$60,503$59,377$58,285$57,226$56,199$53,715
3 years$39,935$38,803$37,714$36,665$35,655$33,241
4 years$29,653$28,525$27,446$26,415$25,429$23,105
5 years$23,485$22,364$21,299$20,289$19,331$17,102
6 years$19,375$18,262$17,213$16,226$15,296$13,166
7 years$16,440$15,336$14,304$13,340$12,440$10,408
8 years$14,239$13,146$12,131$11,191$10,320$8,386
9 years$12,529$11,446$10,448$9,532$8,691$6,854
10 years$11,162$10,089$9,109$8,217$7,405$5,663
11 years$10,044$8,982$8,020$7,151$6,369$4,719
12 years$9,112$8,061$7,117$6,272$5,519$3,959
13 years$8,325$7,285$6,359$5,537$4,813$3,341
14 years$7,651$6,622$5,713$4,916$4,219$2,831
15 years$7,067$6,049$5,158$4,384$3,714$2,408
16 years$6,557$5,550$4,677$3,925$3,283$2,055
17 years$6,107$5,111$4,256$3,527$2,911$1,758
18 years$5,708$4,723$3,885$3,178$2,588$1,508
19 years$5,351$4,377$3,556$2,872$2,307$1,295
20 years$5,030$4,068$3,264$2,601$2,061$1,115
21 years$4,740$3,789$3,002$2,361$1,844$960
22 years$4,477$3,537$2,767$2,146$1,653$828
23 years$4,237$3,308$2,555$1,955$1,484$715
24 years$4,017$3,099$2,363$1,783$1,334$618
25 years$3,816$2,909$2,188$1,628$1,200$534
26 years$3,630$2,734$2,030$1,489$1,081$463
27 years$3,458$2,573$1,885$1,363$975$400
28 years$3,299$2,424$1,752$1,248$879$347
29 years$3,151$2,287$1,630$1,145$794$301
30 years$3,013$2,160$1,519$1,051$717$261
31 years$2,884$2,042$1,416$965$649$226
32 years$2,763$1,932$1,321$887$587$196
33 years$2,650$1,829$1,233$816$531$170
34 years$2,544$1,734$1,152$750$481$148
35 years$2,445$1,645$1,077$691$435$128
36 years$2,351$1,561$1,008$636$395$111
37 years$2,262$1,483$943$586$358$96
38 years$2,178$1,409$883$540$324$84
39 years$2,099$1,340$828$498$294$73
40 years$2,023$1,275$776$459$267$63
41 years$1,952$1,213$727$424$242$55
42 years$1,884$1,156$682$391$220$48
43 years$1,820$1,101$640$361$199$41
44 years$1,758$1,050$601$333$181$36
45 years$1,700$1,001$564$308$164$31
46 years$1,644$955$530$284$149$27
47 years$1,591$911$498$263$135$24
48 years$1,540$870$468$243$123$20
49 years$1,492$831$440$224$112$18
50 years$1,445$793$414$207$101$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,480,000, adding $3,645 every year, while hoping to spend $27,912 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: 49/37/14 Blend
60$1,480,000$1,480,000$1,480,000$1,480,000
61$1,634,720$1,556,280$1,533,340$1,708,340
62$1,771,763$1,602,839$1,555,009$1,805,983
63$1,921,849$1,650,745$1,576,468$1,908,793
64$2,086,279$1,700,033$1,597,681$2,019,852
65$2,266,486$1,750,740$1,618,609$2,139,941
66$2,464,047$1,802,906$1,639,212$2,269,923
67$2,680,700$1,856,569$1,659,446$2,410,744
68$2,918,359$1,911,768$1,679,265$2,563,447
69$3,179,133$1,968,546$1,698,621$2,729,180
70$3,465,343$2,026,944$1,717,464$2,909,204
71$3,779,548$2,087,004$1,735,739$3,104,911
72$4,124,565$2,148,770$1,753,389$3,317,831
73$4,503,498$2,212,287$1,770,355$3,549,647
74$4,919,766$2,277,601$1,786,574$3,802,217
75$5,377,137$2,344,758$1,801,978$4,077,581
76$5,879,759$2,413,805$1,816,499$4,377,989
77$6,432,204$2,484,792$1,830,062$4,705,918
78$7,039,510$2,557,767$1,842,589$5,064,096
79$7,707,224$2,632,781$1,854,000$5,455,526
80$8,441,460$2,709,887$1,864,208$5,883,518
81$9,248,953$2,789,135$1,873,123$6,351,716
82$10,137,123$2,870,581$1,880,650$6,864,134
83$11,114,148$2,954,277$1,886,691$7,425,194
84$12,189,035$3,040,281$1,891,139$8,039,766
85$13,371,710$3,128,648$1,893,885$8,713,217
86$14,673,109$3,219,436$1,894,814$9,451,457
87$16,105,280$3,312,703$1,893,805$10,260,998
88$17,681,503$3,408,509$1,890,731$11,149,014
89$19,416,404$3,506,914$1,885,459$12,123,410
90$21,326,104$3,607,980$1,877,849$13,192,893
91$23,428,364$3,711,768$1,867,754$14,367,057
92$25,742,756$3,818,343$1,855,022$15,656,472
93$28,290,843$3,927,768$1,839,491$17,072,784
94$31,096,388$4,040,108$1,820,993$18,628,827
95$34,185,575$4,155,428$1,799,352$20,338,738
96$37,587,256$4,273,796$1,774,383$22,218,096
97$41,333,223$4,395,279$1,745,891$24,284,068
98$45,458,508$4,519,945$1,713,676$26,555,567
99$50,001,716$4,647,862$1,677,524$29,053,433
100$55,005,384$4,779,100$1,637,213$31,800,633