Can I retire at age 61 with 1,960,000?

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 $1,960,000?

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 years$161,855$160,413$159,007$157,634$156,293$153,075
2 years$80,126$78,634$77,188$75,785$74,425$71,198
3 years$52,887$51,388$49,946$48,556$47,218$44,082
4 years$39,270$37,776$36,348$34,982$33,677$30,656
5 years$31,102$29,617$28,207$26,870$25,600$22,703
6 years$25,658$24,184$22,796$21,488$20,257$17,487
7 years$21,771$20,310$18,943$17,666$16,474$13,832
8 years$18,858$17,409$16,065$14,820$13,667$11,152
9 years$16,593$15,158$13,837$12,623$11,510$9,119
10 years$14,782$13,361$12,064$10,881$9,807$7,539
11 years$13,301$11,894$10,621$9,470$8,434$6,287
12 years$12,068$10,676$9,425$8,307$7,309$5,278
13 years$11,025$9,648$8,421$7,333$6,373$4,456
14 years$10,132$8,770$7,566$6,510$5,587$3,779
15 years$9,359$8,011$6,831$5,806$4,919$3,217
16 years$8,684$7,350$6,194$5,198$4,348$2,747
17 years$8,088$6,769$5,636$4,671$3,855$2,352
18 years$7,559$6,255$5,145$4,209$3,428$2,018
19 years$7,086$5,797$4,710$3,803$3,055$1,735
20 years$6,661$5,387$4,323$3,445$2,729$1,494
21 years$6,278$5,018$3,976$3,126$2,442$1,288
22 years$5,929$4,684$3,664$2,842$2,189$1,112
23 years$5,611$4,381$3,383$2,589$1,965$961
24 years$5,320$4,104$3,129$2,361$1,766$831
25 years$5,053$3,852$2,898$2,156$1,589$719
26 years$4,807$3,620$2,688$1,972$1,431$623
27 years$4,579$3,407$2,496$1,805$1,291$540
28 years$4,368$3,210$2,320$1,653$1,165$468
29 years$4,172$3,029$2,159$1,516$1,052$406
30 years$3,990$2,860$2,011$1,392$950$352
31 years$3,819$2,704$1,875$1,278$859$306
32 years$3,660$2,558$1,749$1,174$777$265
33 years$3,510$2,423$1,633$1,080$703$230
34 years$3,370$2,296$1,526$994$637$200
35 years$3,237$2,178$1,427$915$577$174
36 years$3,113$2,067$1,335$843$522$151
37 years$2,995$1,963$1,249$776$474$131
38 years$2,884$1,866$1,170$715$429$114
39 years$2,779$1,774$1,096$660$389$99
40 years$2,680$1,688$1,027$608$353$86
41 years$2,585$1,607$963$561$320$75
42 years$2,495$1,530$904$518$291$65
43 years$2,410$1,458$848$478$264$57
44 years$2,329$1,390$796$442$239$49
45 years$2,251$1,325$747$408$217$43
46 years$2,178$1,264$702$377$197$37
47 years$2,107$1,207$660$348$179$32
48 years$2,040$1,152$620$322$163$28
49 years$1,975$1,100$583$297$148$24
50 years$1,914$1,051$548$275$134$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,960,000, adding $5,473 every year, while hoping to spend $40,667 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: 71/8/21 Blend
60$1,960,000$1,960,000$1,960,000$1,960,000
61$2,165,565$2,061,685$2,031,305$2,307,792
62$2,343,184$2,119,439$2,056,085$2,461,067
63$2,537,556$2,178,659$2,080,331$2,623,494
64$2,750,349$2,239,375$2,103,984$2,800,333
65$2,983,396$2,301,616$2,126,979$2,993,008
66$3,238,718$2,365,410$2,149,248$3,203,089
67$3,518,539$2,430,788$2,170,721$3,432,302
68$3,825,311$2,497,778$2,191,321$3,682,552
69$4,161,732$2,566,408$2,210,970$3,955,936
70$4,530,775$2,636,708$2,229,583$4,254,762
71$4,935,713$2,708,706$2,247,073$4,581,578
72$5,380,153$2,782,429$2,263,347$4,939,186
73$5,868,067$2,857,907$2,278,308$5,330,675
74$6,403,831$2,935,166$2,291,852$5,759,451
75$6,992,266$3,014,233$2,303,873$6,229,263
76$7,638,681$3,095,134$2,314,257$6,744,245
77$8,348,927$3,177,896$2,322,885$7,308,948
78$9,129,447$3,262,543$2,329,631$7,928,391
79$9,987,341$3,349,098$2,334,365$8,608,103
80$10,930,432$3,437,586$2,336,948$9,354,175
81$11,967,336$3,528,027$2,337,235$10,173,320
82$13,107,547$3,620,443$2,335,075$11,072,936
83$14,361,525$3,714,853$2,330,309$12,061,173
84$15,740,795$3,811,275$2,322,768$13,147,014
85$17,258,053$3,909,725$2,312,278$14,340,358
86$18,927,290$4,010,218$2,298,656$15,652,111
87$20,763,921$4,112,765$2,281,708$17,094,294
88$22,784,928$4,217,378$2,261,232$18,680,152
89$25,009,025$4,324,064$2,237,018$20,424,283
90$27,456,832$4,432,829$2,208,844$22,342,771
91$30,151,066$4,543,675$2,176,477$24,453,342
92$33,116,762$4,656,602$2,139,677$26,775,531
93$36,381,503$4,771,607$2,098,187$29,330,864
94$39,975,682$4,888,682$2,051,743$32,143,064
95$43,932,791$5,007,817$2,000,065$35,238,274
96$48,289,732$5,128,996$1,942,864$38,645,303
97$53,087,169$5,252,201$1,879,833$42,395,899
98$58,369,908$5,377,407$1,810,656$46,525,050
99$64,187,325$5,504,585$1,734,999$51,071,312
100$70,593,823$5,633,701$1,652,513$56,077,176