Can I retire at age 61 with 1,970,000?

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 $1,970,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$162,681$161,232$159,818$158,438$157,091$153,982
2 years$80,535$79,035$77,582$76,172$74,805$71,686
3 years$53,157$51,650$50,200$48,804$47,459$44,428
4 years$39,470$37,968$36,533$35,161$33,848$30,927
5 years$31,260$29,768$28,351$27,007$25,731$22,929
6 years$25,789$24,308$22,912$21,598$20,360$17,679
7 years$21,883$20,413$19,040$17,757$16,558$14,000
8 years$18,954$17,498$16,147$14,896$13,737$11,300
9 years$16,677$15,235$13,908$12,688$11,568$9,252
10 years$14,857$13,429$12,125$10,937$9,857$7,658
11 years$13,369$11,955$10,675$9,518$8,477$6,394
12 years$12,129$10,730$9,474$8,349$7,346$5,375
13 years$11,082$9,697$8,464$7,371$6,406$4,544
14 years$10,184$8,814$7,605$6,543$5,615$3,859
15 years$9,407$8,052$6,866$5,835$4,944$3,290
16 years$8,728$7,388$6,225$5,225$4,370$2,813
17 years$8,129$6,804$5,665$4,694$3,875$2,412
18 years$7,598$6,287$5,171$4,231$3,445$2,073
19 years$7,122$5,827$4,734$3,823$3,071$1,785
20 years$6,695$5,414$4,345$3,462$2,743$1,539
21 years$6,310$5,043$3,996$3,142$2,454$1,329
22 years$5,959$4,708$3,683$2,857$2,200$1,149
23 years$5,640$4,403$3,401$2,602$1,975$995
24 years$5,347$4,125$3,145$2,373$1,775$861
25 years$5,079$3,871$2,913$2,167$1,597$747
26 years$4,831$3,639$2,702$1,982$1,439$648
27 years$4,603$3,424$2,509$1,814$1,297$562
28 years$4,391$3,227$2,332$1,662$1,170$488
29 years$4,194$3,044$2,170$1,524$1,057$424
30 years$4,010$2,875$2,022$1,399$955$369
31 years$3,839$2,718$1,885$1,285$863$320
32 years$3,678$2,571$1,758$1,180$781$279
33 years$3,528$2,435$1,642$1,086$707$242
34 years$3,387$2,308$1,534$999$640$211
35 years$3,254$2,189$1,434$919$580$183
36 years$3,129$2,078$1,342$847$525$160
37 years$3,011$1,973$1,256$780$476$139
38 years$2,899$1,875$1,176$719$432$121
39 years$2,793$1,783$1,102$663$391$105
40 years$2,693$1,697$1,033$612$355$92
41 years$2,598$1,615$968$564$322$80
42 years$2,508$1,538$908$521$292$69
43 years$2,422$1,466$852$481$265$60
44 years$2,341$1,397$800$444$241$53
45 years$2,263$1,332$751$410$219$46
46 years$2,189$1,271$706$379$198$40
47 years$2,118$1,213$663$350$180$35
48 years$2,050$1,158$623$323$164$30
49 years$1,985$1,106$586$299$149$26
50 years$1,923$1,056$550$276$135$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,970,000, adding $2,212 every year, while hoping to spend $56,241 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: 82/5/13 Blend
60$1,970,000$1,970,000$1,970,000$1,970,000
61$2,173,222$2,068,812$2,038,277$2,345,966
62$2,335,050$2,110,343$2,046,719$2,501,132
63$2,511,500$2,152,025$2,053,559$2,663,855
64$2,704,004$2,193,805$2,058,684$2,840,865
65$2,914,138$2,235,627$2,061,975$3,033,567
66$3,143,636$2,277,429$2,063,308$3,243,509
67$3,394,410$2,319,145$2,062,551$3,472,398
68$3,668,561$2,360,705$2,059,568$3,722,110
69$3,968,405$2,402,030$2,054,214$3,994,714
70$4,296,491$2,443,039$2,046,339$4,292,491
71$4,655,626$2,483,641$2,035,784$4,617,949
72$5,048,901$2,523,740$2,022,384$4,973,857
73$5,479,720$2,563,234$2,005,965$5,363,260
74$5,951,831$2,602,012$1,986,344$5,789,516
75$6,469,362$2,639,955$1,963,332$6,256,323
76$7,036,861$2,676,937$1,936,727$6,767,758
77$7,659,334$2,712,821$1,906,321$7,328,310
78$8,342,299$2,747,461$1,871,895$7,942,927
79$9,091,829$2,780,703$1,833,220$8,617,060
80$9,914,618$2,812,380$1,790,055$9,356,717
81$10,818,038$2,842,315$1,742,151$10,168,514
82$11,810,208$2,870,319$1,689,243$11,059,747
83$12,900,075$2,896,190$1,631,058$12,038,451
84$14,097,493$2,919,714$1,567,309$13,113,481
85$15,413,318$2,940,660$1,497,695$14,294,596
86$16,859,510$2,958,787$1,421,901$15,592,549
87$18,449,247$2,973,834$1,339,601$17,019,189
88$20,197,043$2,985,525$1,250,451$18,587,573
89$22,118,893$2,993,567$1,154,093$20,312,091
90$24,232,416$2,997,648$1,050,151$22,208,598
91$26,557,028$2,997,437$938,236$24,294,569
92$29,114,115$2,992,583$817,938$26,589,257
93$31,927,247$2,982,711$688,830$29,113,884
94$35,022,387$2,967,425$550,468$31,891,831
95$38,428,147$2,946,305$402,385$34,948,868
96$42,176,049$2,918,905$244,095$38,313,393
97$46,300,826$2,884,752$75,093$42,016,698
98$50,840,749$2,843,343$0$46,093,270
99$55,837,987$2,794,149$0$50,595,714
100$61,339,006$2,736,606$0$55,563,376