Can I retire at age 61 with 1,920,000?

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 $1,920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$158,552$157,140$155,762$154,417$153,103$152,075
2 years$78,491$77,029$75,612$74,239$72,906$71,869
3 years$51,808$50,339$48,926$47,566$46,255$45,241
4 years$38,468$37,005$35,606$34,268$32,989$32,006
5 years$30,467$29,012$27,632$26,321$25,078$24,129
6 years$25,135$23,691$22,330$21,049$19,843$18,930
7 years$21,327$19,895$18,557$17,306$16,138$15,260
8 years$18,473$17,054$15,738$14,517$13,388$12,546
9 years$16,254$14,849$13,555$12,366$11,275$10,468
10 years$14,480$13,088$11,817$10,659$9,607$8,835
11 years$13,029$11,652$10,404$9,277$8,262$7,525
12 years$11,822$10,458$9,233$8,137$7,160$6,456
13 years$10,800$9,451$8,249$7,184$6,243$5,573
14 years$9,926$8,591$7,412$6,377$5,473$4,835
15 years$9,168$7,848$6,692$5,687$4,819$4,213
16 years$8,506$7,200$6,067$5,092$4,259$3,683
17 years$7,923$6,631$5,521$4,575$3,776$3,230
18 years$7,405$6,127$5,040$4,123$3,358$2,841
19 years$6,942$5,679$4,614$3,726$2,993$2,503
20 years$6,525$5,277$4,234$3,374$2,673$2,211
21 years$6,149$4,915$3,895$3,062$2,392$1,955
22 years$5,808$4,588$3,590$2,784$2,144$1,732
23 years$5,497$4,291$3,314$2,536$1,925$1,536
24 years$5,212$4,021$3,065$2,313$1,730$1,364
25 years$4,950$3,773$2,839$2,112$1,557$1,213
26 years$4,709$3,546$2,633$1,931$1,402$1,079
27 years$4,486$3,337$2,445$1,768$1,264$961
28 years$4,279$3,145$2,273$1,620$1,141$856
29 years$4,087$2,967$2,115$1,485$1,030$763
30 years$3,908$2,802$1,970$1,363$931$681
31 years$3,741$2,649$1,837$1,252$841$608
32 years$3,585$2,506$1,714$1,151$761$543
33 years$3,438$2,373$1,600$1,058$689$485
34 years$3,301$2,249$1,495$973$624$433
35 years$3,171$2,134$1,398$896$565$387
36 years$3,049$2,025$1,308$825$512$346
37 years$2,934$1,923$1,224$760$464$309
38 years$2,825$1,828$1,146$701$421$277
39 years$2,723$1,738$1,074$646$381$248
40 years$2,625$1,654$1,006$596$346$221
41 years$2,532$1,574$944$550$314$198
42 years$2,444$1,499$885$508$285$177
43 years$2,361$1,428$831$469$258$159
44 years$2,281$1,362$780$433$235$142
45 years$2,205$1,298$732$400$213$127
46 years$2,133$1,239$688$369$193$114
47 years$2,064$1,182$646$341$176$102
48 years$1,998$1,128$607$315$159$91
49 years$1,935$1,078$571$291$145$82
50 years$1,875$1,029$536$269$132$73

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,920,000, adding $6,653 every year, while hoping to spend $42,353 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: 65/24/11 Blend
60$1,920,000$1,920,000$1,920,000$1,920,000
61$2,122,703$2,020,943$1,991,183$2,255,091
62$2,294,155$2,074,905$2,012,824$2,398,193
63$2,481,676$2,130,093$2,033,771$2,548,906
64$2,686,860$2,186,521$2,053,955$2,712,500
65$2,911,462$2,244,203$2,073,305$2,890,228
66$3,157,416$2,303,154$2,091,746$3,083,470
67$3,426,851$2,363,386$2,109,197$3,293,745
68$3,722,110$2,424,912$2,125,575$3,522,726
69$4,045,775$2,487,743$2,140,793$3,772,256
70$4,400,691$2,551,889$2,154,756$4,044,363
71$4,789,989$2,617,360$2,167,368$4,341,283
72$5,217,119$2,684,161$2,178,526$4,665,476
73$5,685,880$2,752,300$2,188,122$5,019,653
74$6,200,459$2,821,782$2,196,042$5,406,802
75$6,765,465$2,892,608$2,202,169$5,830,212
76$7,385,977$2,964,781$2,206,376$6,293,507
77$8,067,590$3,038,299$2,208,534$6,800,680
78$8,816,468$3,113,159$2,208,503$7,356,129
79$9,639,399$3,189,355$2,206,139$7,964,700
80$10,543,865$3,266,880$2,201,292$8,631,732
81$11,538,105$3,345,723$2,193,801$9,363,106
82$12,631,199$3,425,871$2,183,500$10,165,306
83$13,833,149$3,507,306$2,170,215$11,045,470
84$15,154,975$3,590,009$2,153,762$12,011,467
85$16,608,819$3,673,956$2,133,950$13,071,968
86$18,208,058$3,759,120$2,110,577$14,236,523
87$19,967,432$3,845,468$2,083,433$15,515,660
88$21,903,179$3,932,965$2,052,297$16,920,976
89$24,033,193$4,021,571$2,016,939$18,465,253
90$26,377,190$4,111,239$1,977,118$20,162,574
91$28,956,891$4,201,917$1,932,579$22,028,456
92$31,796,232$4,293,550$1,883,059$24,080,001
93$34,921,588$4,386,073$1,828,281$26,336,054
94$38,362,016$4,479,417$1,767,955$28,817,378
95$42,149,539$4,573,506$1,701,779$31,546,858
96$46,319,439$4,668,255$1,629,435$34,549,710
97$50,910,594$4,763,571$1,550,594$37,853,722
98$55,965,844$4,859,356$1,464,908$41,489,514
99$61,532,394$4,955,498$1,372,016$45,490,833
100$67,662,261$5,051,880$1,271,541$49,894,864