Can I retire at age 61 with 1,940,000?

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 $1,940,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$160,203$158,776$157,384$156,025$154,698$148,796
2 years$79,309$77,832$76,400$75,012$73,666$67,788
3 years$52,347$50,864$49,436$48,061$46,737$41,069
4 years$38,869$37,390$35,977$34,625$33,333$27,919
5 years$30,784$29,314$27,919$26,596$25,339$20,193
6 years$25,396$23,937$22,563$21,269$20,050$15,174
7 years$21,549$20,103$18,750$17,486$16,306$11,700
8 years$18,665$17,232$15,901$14,669$13,527$9,186
9 years$16,423$15,003$13,696$12,494$11,392$7,310
10 years$14,631$13,225$11,940$10,770$9,707$5,875
11 years$13,165$11,773$10,512$9,373$8,348$4,759
12 years$11,945$10,567$9,329$8,222$7,234$3,879
13 years$10,913$9,549$8,335$7,259$6,308$3,177
14 years$10,029$8,680$7,489$6,443$5,530$2,612
15 years$9,264$7,929$6,762$5,746$4,869$2,154
16 years$8,595$7,275$6,130$5,145$4,303$1,781
17 years$8,005$6,700$5,578$4,623$3,816$1,475
18 years$7,482$6,191$5,092$4,166$3,393$1,224
19 years$7,014$5,738$4,662$3,765$3,024$1,018
20 years$6,593$5,332$4,278$3,409$2,701$847
21 years$6,213$4,967$3,935$3,094$2,417$705
22 years$5,868$4,636$3,627$2,813$2,167$588
23 years$5,554$4,336$3,349$2,562$1,945$490
24 years$5,266$4,063$3,097$2,337$1,748$409
25 years$5,002$3,813$2,869$2,134$1,573$342
26 years$4,758$3,583$2,660$1,951$1,417$285
27 years$4,533$3,372$2,470$1,786$1,277$238
28 years$4,324$3,178$2,297$1,637$1,153$199
29 years$4,130$2,998$2,137$1,501$1,041$167
30 years$3,949$2,831$1,991$1,377$940$139
31 years$3,780$2,676$1,856$1,265$850$116
32 years$3,622$2,532$1,732$1,163$769$97
33 years$3,474$2,398$1,617$1,069$696$81
34 years$3,335$2,273$1,511$984$630$68
35 years$3,204$2,156$1,412$905$571$57
36 years$3,081$2,046$1,321$834$517$48
37 years$2,965$1,943$1,237$768$469$40
38 years$2,855$1,847$1,158$708$425$33
39 years$2,751$1,756$1,085$653$385$28
40 years$2,652$1,671$1,017$602$350$23
41 years$2,559$1,591$954$556$317$20
42 years$2,470$1,515$894$513$288$16
43 years$2,385$1,443$839$473$261$14
44 years$2,305$1,376$788$437$237$11
45 years$2,228$1,312$740$404$215$10
46 years$2,155$1,251$695$373$195$8
47 years$2,086$1,194$653$345$177$7
48 years$2,019$1,140$613$318$161$6
49 years$1,955$1,089$577$294$146$5
50 years$1,894$1,040$542$272$133$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,940,000, adding $2,539 every year, while hoping to spend $23,150 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: 70/14/16 Blend
60$1,940,000$1,940,000$1,940,000$1,940,000
61$2,140,499$2,037,679$2,007,609$2,282,194
62$2,334,198$2,112,894$2,050,232$2,451,986
63$2,546,879$2,191,018$2,093,508$2,634,743
64$2,780,453$2,272,171$2,137,433$2,834,170
65$3,037,027$2,356,474$2,182,004$3,051,911
66$3,318,918$2,444,056$2,227,216$3,289,772
67$3,628,685$2,535,052$2,273,065$3,549,745
68$3,969,142$2,629,600$2,319,543$3,834,020
69$4,343,391$2,727,847$2,366,644$4,145,010
70$4,754,849$2,829,944$2,414,359$4,485,374
71$5,207,281$2,936,049$2,462,678$4,858,036
72$5,704,836$3,046,328$2,511,590$5,266,219
73$6,252,083$3,160,952$2,561,082$5,713,472
74$6,854,059$3,280,101$2,611,141$6,203,703
75$7,516,310$3,403,963$2,661,752$6,741,217
76$8,244,949$3,532,733$2,712,896$7,330,755
77$9,046,712$3,666,615$2,764,556$7,977,540
78$9,929,020$3,805,822$2,816,712$8,687,323
79$10,900,048$3,950,576$2,869,340$9,466,442
80$11,968,807$4,101,108$2,922,417$10,321,876
81$13,145,223$4,257,660$2,975,915$11,261,315
82$14,440,234$4,420,484$3,029,807$12,293,228
83$15,865,895$4,589,844$3,084,062$13,426,947
84$17,435,484$4,766,015$3,138,647$14,672,751
85$19,163,637$4,949,283$3,193,524$16,041,966
86$21,066,477$5,139,947$3,248,657$17,547,067
87$23,161,775$5,338,321$3,304,004$19,201,801
88$25,469,107$5,544,731$3,359,520$21,021,312
89$28,010,050$5,759,516$3,415,157$23,022,284
90$30,808,377$5,983,034$3,470,867$25,223,101
91$33,890,283$6,215,655$3,526,593$27,644,016
92$37,284,637$6,457,767$3,582,279$30,307,345
93$41,023,248$6,709,776$3,637,863$33,237,675
94$45,141,168$6,972,103$3,693,280$36,462,098
95$49,677,022$7,245,191$3,748,460$40,010,461
96$54,673,375$7,529,502$3,803,330$43,915,655
97$60,177,128$7,825,516$3,857,810$48,213,918
98$66,239,967$8,133,738$3,911,818$52,945,180
99$72,918,845$8,454,693$3,965,266$58,153,439
100$80,276,525$8,788,931$4,018,060$63,887,173