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%
1 years$161,855$160,413$159,007$157,634$156,293$153,012
2 years$80,126$78,634$77,188$75,785$74,425$71,135
3 years$52,887$51,388$49,946$48,556$47,218$44,022
4 years$39,270$37,776$36,348$34,982$33,677$30,599
5 years$31,102$29,617$28,207$26,870$25,600$22,649
6 years$25,658$24,184$22,796$21,488$20,257$17,436
7 years$21,771$20,310$18,943$17,666$16,474$13,784
8 years$18,858$17,409$16,065$14,820$13,667$11,106
9 years$16,593$15,158$13,837$12,623$11,510$9,077
10 years$14,782$13,361$12,064$10,881$9,807$7,499
11 years$13,301$11,894$10,621$9,470$8,434$6,249
12 years$12,068$10,676$9,425$8,307$7,309$5,244
13 years$11,025$9,648$8,421$7,333$6,373$4,424
14 years$10,132$8,770$7,566$6,510$5,587$3,749
15 years$9,359$8,011$6,831$5,806$4,919$3,190
16 years$8,684$7,350$6,194$5,198$4,348$2,722
17 years$8,088$6,769$5,636$4,671$3,855$2,329
18 years$7,559$6,255$5,145$4,209$3,428$1,997
19 years$7,086$5,797$4,710$3,803$3,055$1,715
20 years$6,661$5,387$4,323$3,445$2,729$1,476
21 years$6,278$5,018$3,976$3,126$2,442$1,272
22 years$5,929$4,684$3,664$2,842$2,189$1,097
23 years$5,611$4,381$3,383$2,589$1,965$947
24 years$5,320$4,104$3,129$2,361$1,766$818
25 years$5,053$3,852$2,898$2,156$1,589$708
26 years$4,807$3,620$2,688$1,972$1,431$613
27 years$4,579$3,407$2,496$1,805$1,291$530
28 years$4,368$3,210$2,320$1,653$1,165$459
29 years$4,172$3,029$2,159$1,516$1,052$398
30 years$3,990$2,860$2,011$1,392$950$345
31 years$3,819$2,704$1,875$1,278$859$299
32 years$3,660$2,558$1,749$1,174$777$260
33 years$3,510$2,423$1,633$1,080$703$225
34 years$3,370$2,296$1,526$994$637$195
35 years$3,237$2,178$1,427$915$577$170
36 years$3,113$2,067$1,335$843$522$147
37 years$2,995$1,963$1,249$776$474$128
38 years$2,884$1,866$1,170$715$429$111
39 years$2,779$1,774$1,096$660$389$96
40 years$2,680$1,688$1,027$608$353$84
41 years$2,585$1,607$963$561$320$73
42 years$2,495$1,530$904$518$291$63
43 years$2,410$1,458$848$478$264$55
44 years$2,329$1,390$796$442$239$48
45 years$2,251$1,325$747$408$217$41
46 years$2,178$1,264$702$377$197$36
47 years$2,107$1,207$660$348$179$31
48 years$2,040$1,152$620$322$163$27
49 years$1,975$1,100$583$297$148$24
50 years$1,914$1,051$548$275$134$20

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 $4,997 every year, while hoping to spend $57,499 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: 78/14/8 Blend
60$1,960,000$1,960,000$1,960,000$1,960,000
61$2,165,074$2,061,194$2,030,814$2,331,167
62$2,324,734$2,101,014$2,037,668$2,480,728
63$2,498,751$2,140,859$2,042,824$2,636,756
64$2,688,530$2,180,667$2,046,166$2,806,182
65$2,895,616$2,220,376$2,047,568$2,990,316
66$3,121,710$2,259,915$2,046,903$3,190,597
67$3,368,684$2,299,211$2,044,034$3,408,614
68$3,638,599$2,338,181$2,038,818$3,646,114
69$3,933,723$2,376,740$2,031,106$3,905,024
70$4,256,557$2,414,793$2,020,741$4,187,463
71$4,609,849$2,452,242$2,007,560$4,495,769
72$4,996,630$2,488,978$1,991,389$4,832,515
73$5,420,234$2,524,886$1,972,049$5,200,537
74$5,884,335$2,559,843$1,949,350$5,602,959
75$6,392,979$2,593,716$1,923,095$6,043,221
76$6,950,620$2,626,366$1,893,076$6,525,117
77$7,562,166$2,657,640$1,859,076$7,052,825
78$8,233,021$2,687,379$1,820,869$7,630,946
79$8,969,137$2,715,409$1,778,217$8,264,555
80$9,777,073$2,741,547$1,730,870$8,959,239
81$10,664,049$2,765,598$1,678,570$9,721,157
82$11,638,024$2,787,354$1,621,044$10,557,095
83$12,707,761$2,806,593$1,558,007$11,474,530
84$13,882,914$2,823,078$1,489,162$12,481,704
85$15,174,121$2,836,558$1,414,198$13,587,694
86$16,593,098$2,846,766$1,332,790$14,802,509
87$18,152,754$2,853,417$1,244,599$16,137,173
88$19,867,310$2,856,210$1,149,268$17,603,838
89$21,752,434$2,854,823$1,046,428$19,215,894
90$23,825,389$2,848,916$935,690$20,988,097
91$26,105,193$2,838,128$816,650$22,936,707
92$28,612,800$2,822,073$688,885$25,079,647
93$31,371,297$2,800,345$551,953$27,436,663
94$34,406,120$2,772,513$405,394$30,029,519
95$37,745,295$2,738,117$248,726$32,882,200
96$41,419,704$2,696,674$81,447$36,021,135
97$45,463,371$2,647,668$0$39,475,454
98$49,913,785$2,590,554$0$43,285,542
99$54,812,256$2,524,756$0$47,486,446
100$60,204,301$2,449,664$0$52,110,243