Can I retire at age 61 with 1,980,000?

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 $1,980,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$163,507$162,050$160,629$159,242$157,888$155,980
2 years$80,944$79,436$77,975$76,559$75,185$73,264
3 years$53,427$51,913$50,455$49,052$47,700$45,827
4 years$39,671$38,161$36,718$35,339$34,020$32,209
5 years$31,419$29,919$28,495$27,144$25,862$24,118
6 years$25,920$24,431$23,028$21,707$20,463$18,789
7 years$21,994$20,517$19,137$17,847$16,642$15,038
8 years$19,050$17,587$16,229$14,971$13,806$12,272
9 years$16,762$15,313$13,978$12,752$11,627$10,161
10 years$14,932$13,497$12,187$10,992$9,907$8,509
11 years$13,437$12,016$10,729$9,567$8,520$7,190
12 years$12,191$10,785$9,522$8,391$7,383$6,118
13 years$11,138$9,746$8,507$7,408$6,438$5,237
14 years$10,236$8,859$7,644$6,576$5,644$4,505
15 years$9,455$8,093$6,901$5,865$4,969$3,891
16 years$8,772$7,425$6,257$5,251$4,392$3,372
17 years$8,170$6,838$5,693$4,718$3,894$2,930
18 years$7,636$6,319$5,197$4,252$3,463$2,553
19 years$7,159$5,856$4,758$3,842$3,086$2,229
20 years$6,729$5,442$4,367$3,480$2,757$1,950
21 years$6,342$5,069$4,016$3,158$2,467$1,708
22 years$5,989$4,732$3,702$2,871$2,211$1,498
23 years$5,668$4,425$3,418$2,615$1,985$1,316
24 years$5,375$4,146$3,161$2,385$1,784$1,157
25 years$5,105$3,891$2,928$2,178$1,605$1,018
26 years$4,856$3,657$2,715$1,992$1,446$896
27 years$4,626$3,442$2,521$1,823$1,304$790
28 years$4,413$3,243$2,344$1,670$1,176$697
29 years$4,215$3,059$2,181$1,532$1,062$615
30 years$4,030$2,889$2,032$1,406$960$542
31 years$3,858$2,731$1,894$1,291$868$479
32 years$3,697$2,584$1,767$1,186$785$423
33 years$3,546$2,448$1,650$1,091$710$374
34 years$3,404$2,320$1,542$1,004$643$330
35 years$3,270$2,200$1,441$924$583$292
36 years$3,145$2,088$1,348$851$528$258
37 years$3,026$1,983$1,262$784$478$228
38 years$2,914$1,885$1,182$723$434$202
39 years$2,808$1,792$1,107$666$393$179
40 years$2,707$1,705$1,038$615$357$158
41 years$2,612$1,623$973$567$324$140
42 years$2,521$1,546$913$523$294$124
43 years$2,435$1,473$857$483$267$110
44 years$2,353$1,404$804$446$242$97
45 years$2,274$1,339$755$412$220$86
46 years$2,200$1,277$709$381$199$76
47 years$2,129$1,219$666$352$181$67
48 years$2,060$1,164$626$325$164$60
49 years$1,995$1,111$588$300$149$53
50 years$1,933$1,061$553$278$136$47

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $1,980,000, adding $4,490 every year, while hoping to spend $57,988 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: 81/11/8 Blend
60$1,980,000$1,980,000$1,980,000$1,980,000
61$2,186,591$2,081,651$2,050,961$2,361,150
62$2,347,925$2,121,954$2,057,970$2,516,405
63$2,523,771$2,162,287$2,063,270$2,678,638
64$2,715,549$2,202,592$2,066,742$2,854,942
65$2,924,820$2,242,804$2,068,263$3,046,695
66$3,153,303$2,282,854$2,067,702$3,255,412
67$3,402,892$2,322,665$2,064,922$3,482,764
68$3,675,670$2,362,158$2,059,779$3,730,588
69$3,973,929$2,401,245$2,052,123$4,000,910
70$4,300,197$2,439,833$2,041,796$4,295,961
71$4,657,252$2,477,821$2,028,632$4,618,197
72$5,048,159$2,515,100$2,012,457$4,970,325
73$5,476,287$2,551,556$1,993,091$5,355,327
74$5,945,351$2,587,065$1,970,342$5,776,487
75$6,459,440$2,621,494$1,944,011$6,237,424
76$7,023,057$2,654,702$1,913,890$6,742,125
77$7,641,162$2,686,536$1,879,759$7,294,982
78$8,319,220$2,716,836$1,841,390$7,900,835
79$9,063,248$2,745,428$1,798,544$8,565,015
80$9,879,873$2,772,128$1,750,969$9,293,397
81$10,776,398$2,796,740$1,698,404$10,092,455
82$11,760,864$2,819,054$1,640,575$10,969,321
83$12,842,133$2,838,848$1,577,195$11,931,854
84$14,029,963$2,855,884$1,507,963$12,988,715
85$15,335,107$2,869,910$1,432,567$14,149,446
86$16,769,409$2,880,657$1,350,680$15,424,562
87$18,345,919$2,887,839$1,261,958$16,825,650
88$20,079,012$2,891,153$1,166,043$18,365,479
89$21,984,529$2,890,277$1,062,563$20,058,119
90$24,079,918$2,884,867$951,125$21,919,074
91$26,384,404$2,874,561$831,323$23,965,431
92$28,919,172$2,858,972$702,731$26,216,017
93$31,707,557$2,837,692$564,902$28,691,582
94$34,775,275$2,810,286$417,373$31,414,989
95$38,150,656$2,776,293$259,659$34,411,435
96$41,864,919$2,735,227$91,252$37,708,688
97$45,952,457$2,686,569$0$41,337,346
98$50,451,169$2,629,773$0$45,338,681
99$55,402,814$2,564,258$0$49,751,107
100$60,853,404$2,489,410$0$54,607,825