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

Use the below retirement simulation to view the chances of a successful retirement.
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%17.5%
1 years$162,681$161,232$159,818$158,438$157,091$152,306
2 years$80,535$79,035$77,582$76,172$74,805$70,026
3 years$53,157$51,650$50,200$48,804$47,459$42,835
4 years$39,470$37,968$36,533$35,161$33,848$29,415
5 years$31,260$29,768$28,351$27,007$25,731$21,500
6 years$25,789$24,308$22,912$21,598$20,360$16,335
7 years$21,883$20,413$19,040$17,757$16,558$12,740
8 years$18,954$17,498$16,147$14,896$13,737$10,122
9 years$16,677$15,235$13,908$12,688$11,568$8,153
10 years$14,857$13,429$12,125$10,937$9,857$6,636
11 years$13,369$11,955$10,675$9,518$8,477$5,446
12 years$12,129$10,730$9,474$8,349$7,346$4,498
13 years$11,082$9,697$8,464$7,371$6,406$3,734
14 years$10,184$8,814$7,605$6,543$5,615$3,113
15 years$9,407$8,052$6,866$5,835$4,944$2,604
16 years$8,728$7,388$6,225$5,225$4,370$2,185
17 years$8,129$6,804$5,665$4,694$3,875$1,837
18 years$7,598$6,287$5,171$4,231$3,445$1,547
19 years$7,122$5,827$4,734$3,823$3,071$1,306
20 years$6,695$5,414$4,345$3,462$2,743$1,103
21 years$6,310$5,043$3,996$3,142$2,454$933
22 years$5,959$4,708$3,683$2,857$2,200$790
23 years$5,640$4,403$3,401$2,602$1,975$669
24 years$5,347$4,125$3,145$2,373$1,775$568
25 years$5,079$3,871$2,913$2,167$1,597$481
26 years$4,831$3,639$2,702$1,982$1,439$409
27 years$4,603$3,424$2,509$1,814$1,297$347
28 years$4,391$3,227$2,332$1,662$1,170$295
29 years$4,194$3,044$2,170$1,524$1,057$250
30 years$4,010$2,875$2,022$1,399$955$213
31 years$3,839$2,718$1,885$1,285$863$181
32 years$3,678$2,571$1,758$1,180$781$154
33 years$3,528$2,435$1,642$1,086$707$131
34 years$3,387$2,308$1,534$999$640$111
35 years$3,254$2,189$1,434$919$580$95
36 years$3,129$2,078$1,342$847$525$80
37 years$3,011$1,973$1,256$780$476$68
38 years$2,899$1,875$1,176$719$432$58
39 years$2,793$1,783$1,102$663$391$50
40 years$2,693$1,697$1,033$612$355$42
41 years$2,598$1,615$968$564$322$36
42 years$2,508$1,538$908$521$292$31
43 years$2,422$1,466$852$481$265$26
44 years$2,341$1,397$800$444$241$22
45 years$2,263$1,332$751$410$219$19
46 years$2,189$1,271$706$379$198$16
47 years$2,118$1,213$663$350$180$14
48 years$2,050$1,158$623$323$164$12
49 years$1,985$1,106$586$299$149$10
50 years$1,923$1,056$550$276$135$8

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 $3,378 every year, while hoping to spend $32,656 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: 61/19/20 Blend
60$1,970,000$1,970,000$1,970,000$1,970,000
61$2,174,424$2,070,014$2,039,479$2,295,554
62$2,361,470$2,136,699$2,073,056$2,444,512
63$2,566,500$2,205,557$2,106,663$2,603,093
64$2,791,313$2,276,661$2,140,267$2,775,423
65$3,037,894$2,350,083$2,173,833$2,962,842
66$3,308,424$2,425,902$2,207,321$3,166,826
67$3,605,309$2,504,198$2,240,692$3,388,998
68$3,931,199$2,585,051$2,273,904$3,631,147
69$4,289,011$2,668,548$2,306,909$3,895,242
70$4,681,959$2,754,777$2,339,660$4,183,453
71$5,113,586$2,843,828$2,372,106$4,498,166
72$5,587,792$2,935,796$2,404,191$4,842,012
73$6,108,875$3,030,777$2,435,860$5,217,887
74$6,681,568$3,128,874$2,467,049$5,628,982
75$7,311,088$3,230,189$2,497,695$6,078,810
76$8,003,181$3,334,830$2,527,730$6,571,242
77$8,764,179$3,442,910$2,557,082$7,110,540
78$9,601,055$3,554,542$2,585,674$7,701,400
79$10,521,494$3,669,847$2,613,426$8,348,997
80$11,533,965$3,788,947$2,640,254$9,059,027
81$12,647,794$3,911,970$2,666,067$9,837,771
82$13,873,261$4,039,049$2,690,773$10,692,143
83$15,221,690$4,170,319$2,714,270$11,629,764
84$16,705,561$4,305,922$2,736,456$12,659,028
85$18,338,620$4,446,005$2,757,220$13,789,185
86$20,136,018$4,590,718$2,776,445$15,030,423
87$22,114,446$4,740,218$2,794,011$16,393,970
88$24,292,298$4,894,666$2,809,788$17,892,196
89$26,689,839$5,054,232$2,823,643$19,538,729
90$29,329,401$5,219,087$2,835,433$21,348,588
91$32,235,590$5,389,412$2,845,010$23,338,317
92$35,435,519$5,565,393$2,852,217$25,526,149
93$38,959,067$5,747,222$2,856,891$27,932,171
94$42,839,153$5,935,097$2,858,859$30,578,519
95$47,112,056$6,129,226$2,857,939$33,489,582
96$51,817,749$6,329,821$2,853,943$36,692,236
97$57,000,281$6,537,104$2,846,672$40,216,094
98$62,708,190$6,751,303$2,835,916$44,093,787
99$68,994,964$6,972,655$2,821,458$48,361,273
100$75,919,540$7,201,405$2,803,067$53,058,172