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%16.8%
1 years$162,681$161,232$159,818$158,438$157,091$152,736
2 years$80,535$79,035$77,582$76,172$74,805$70,450
3 years$53,157$51,650$50,200$48,804$47,459$43,241
4 years$39,470$37,968$36,533$35,161$33,848$29,798
5 years$31,260$29,768$28,351$27,007$25,731$21,861
6 years$25,789$24,308$22,912$21,598$20,360$16,673
7 years$21,883$20,413$19,040$17,757$16,558$13,055
8 years$18,954$17,498$16,147$14,896$13,737$10,415
9 years$16,677$15,235$13,908$12,688$11,568$8,425
10 years$14,857$13,429$12,125$10,937$9,857$6,888
11 years$13,369$11,955$10,675$9,518$8,477$5,678
12 years$12,129$10,730$9,474$8,349$7,346$4,711
13 years$11,082$9,697$8,464$7,371$6,406$3,930
14 years$10,184$8,814$7,605$6,543$5,615$3,292
15 years$9,407$8,052$6,866$5,835$4,944$2,768
16 years$8,728$7,388$6,225$5,225$4,370$2,333
17 years$8,129$6,804$5,665$4,694$3,875$1,972
18 years$7,598$6,287$5,171$4,231$3,445$1,670
19 years$7,122$5,827$4,734$3,823$3,071$1,416
20 years$6,695$5,414$4,345$3,462$2,743$1,203
21 years$6,310$5,043$3,996$3,142$2,454$1,023
22 years$5,959$4,708$3,683$2,857$2,200$871
23 years$5,640$4,403$3,401$2,602$1,975$742
24 years$5,347$4,125$3,145$2,373$1,775$633
25 years$5,079$3,871$2,913$2,167$1,597$540
26 years$4,831$3,639$2,702$1,982$1,439$461
27 years$4,603$3,424$2,509$1,814$1,297$393
28 years$4,391$3,227$2,332$1,662$1,170$336
29 years$4,194$3,044$2,170$1,524$1,057$287
30 years$4,010$2,875$2,022$1,399$955$246
31 years$3,839$2,718$1,885$1,285$863$210
32 years$3,678$2,571$1,758$1,180$781$180
33 years$3,528$2,435$1,642$1,086$707$154
34 years$3,387$2,308$1,534$999$640$131
35 years$3,254$2,189$1,434$919$580$112
36 years$3,129$2,078$1,342$847$525$96
37 years$3,011$1,973$1,256$780$476$82
38 years$2,899$1,875$1,176$719$432$70
39 years$2,793$1,783$1,102$663$391$60
40 years$2,693$1,697$1,033$612$355$52
41 years$2,598$1,615$968$564$322$44
42 years$2,508$1,538$908$521$292$38
43 years$2,422$1,466$852$481$265$32
44 years$2,341$1,397$800$444$241$28
45 years$2,263$1,332$751$410$219$24
46 years$2,189$1,271$706$379$198$20
47 years$2,118$1,213$663$350$180$17
48 years$2,050$1,158$623$323$164$15
49 years$1,985$1,106$586$299$149$13
50 years$1,923$1,056$550$276$135$11

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 $3,765 every year, while hoping to spend $24,318 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: 60/11/29 Blend
60$1,970,000$1,970,000$1,970,000$1,970,000
61$2,174,824$2,070,414$2,039,879$2,287,984
62$2,370,781$2,145,990$2,082,340$2,441,269
63$2,585,912$2,224,454$2,125,410$2,605,538
64$2,822,145$2,305,922$2,169,081$2,784,289
65$3,081,607$2,390,515$2,213,348$2,978,940
66$3,366,639$2,478,359$2,258,204$3,191,052
67$3,679,822$2,569,584$2,303,639$3,422,343
68$4,023,998$2,664,328$2,349,645$3,674,706
69$4,402,298$2,762,732$2,396,210$3,950,224
70$4,818,172$2,864,946$2,443,323$4,251,192
71$5,275,420$2,971,123$2,490,969$4,580,137
72$5,778,231$3,081,426$2,539,134$4,939,841
73$6,331,216$3,196,022$2,587,801$5,333,369
74$6,939,460$3,315,086$2,636,952$5,764,098
75$7,608,562$3,438,803$2,686,568$6,235,744
76$8,344,693$3,567,362$2,736,625$6,752,404
77$9,154,651$3,700,962$2,787,101$7,318,589
78$10,045,927$3,839,810$2,837,971$7,939,268
79$11,026,774$3,984,124$2,889,205$8,619,914
80$12,106,287$4,134,128$2,940,776$9,366,559
81$13,294,486$4,290,058$2,992,649$10,185,845
82$14,602,412$4,452,159$3,044,791$11,085,090
83$16,042,230$4,620,687$3,097,164$12,072,357
84$17,627,347$4,795,910$3,149,729$13,156,529
85$19,372,534$4,978,107$3,202,442$14,347,392
86$21,294,066$5,167,568$3,255,257$15,655,728
87$23,409,879$5,364,597$3,308,127$17,093,415
88$25,739,734$5,569,510$3,360,997$18,673,541
89$28,305,410$5,782,639$3,413,813$20,410,528
90$31,130,902$6,004,328$3,466,516$22,320,263
91$34,242,651$6,234,938$3,519,042$24,420,253
92$37,669,796$6,474,844$3,571,324$26,729,787
93$41,444,442$6,724,438$3,623,290$29,270,117
94$45,601,971$6,984,132$3,674,866$32,064,661
95$50,181,369$7,254,351$3,725,971$35,139,225
96$55,225,598$7,535,543$3,776,520$38,522,239
97$60,781,998$7,828,174$3,826,423$42,245,032
98$66,902,738$8,132,731$3,875,584$46,342,127
99$73,645,304$8,449,721$3,923,903$50,851,561
100$81,073,044$8,779,677$3,971,273$55,815,250