Can I retire at age 61 with 2,020,000?

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 $2,020,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$166,810$165,324$163,874$162,459$161,078$155,984
2 years$82,579$81,041$79,551$78,105$76,704$71,618
3 years$54,506$52,961$51,474$50,043$48,664$43,746
4 years$40,472$38,932$37,460$36,053$34,708$29,995
5 years$32,054$30,523$29,071$27,692$26,384$21,889
6 years$26,444$24,925$23,493$22,146$20,877$16,604
7 years$22,438$20,932$19,523$18,207$16,978$12,927
8 years$19,435$17,942$16,557$15,274$14,085$10,252
9 years$17,101$15,622$14,261$13,010$11,862$8,243
10 years$15,234$13,770$12,433$11,214$10,107$6,697
11 years$13,708$12,259$10,946$9,760$8,692$5,485
12 years$12,437$11,003$9,714$8,561$7,533$4,521
13 years$11,363$9,943$8,679$7,558$6,569$3,746
14 years$10,443$9,038$7,798$6,709$5,758$3,116
15 years$9,646$8,256$7,040$5,983$5,070$2,601
16 years$8,949$7,575$6,383$5,357$4,481$2,178
17 years$8,335$6,976$5,808$4,814$3,973$1,827
18 years$7,790$6,447$5,302$4,338$3,532$1,536
19 years$7,303$5,975$4,854$3,920$3,149$1,293
20 years$6,865$5,552$4,455$3,550$2,812$1,090
21 years$6,470$5,171$4,098$3,222$2,517$920
22 years$6,110$4,827$3,777$2,929$2,256$777
23 years$5,783$4,515$3,487$2,668$2,025$657
24 years$5,483$4,230$3,225$2,433$1,820$555
25 years$5,208$3,970$2,987$2,222$1,638$470
26 years$4,954$3,731$2,770$2,032$1,475$398
27 years$4,720$3,511$2,572$1,860$1,330$337
28 years$4,502$3,309$2,391$1,704$1,200$286
29 years$4,300$3,121$2,225$1,563$1,084$242
30 years$4,112$2,948$2,073$1,434$979$205
31 years$3,936$2,787$1,932$1,317$885$174
32 years$3,772$2,637$1,803$1,210$801$148
33 years$3,618$2,497$1,683$1,113$725$125
34 years$3,473$2,367$1,573$1,024$656$106
35 years$3,337$2,245$1,471$943$594$90
36 years$3,208$2,131$1,376$868$538$76
37 years$3,087$2,023$1,288$800$488$65
38 years$2,973$1,923$1,206$737$442$55
39 years$2,864$1,829$1,130$680$401$47
40 years$2,762$1,740$1,059$627$364$40
41 years$2,664$1,656$993$579$330$34
42 years$2,572$1,577$931$534$300$29
43 years$2,484$1,503$874$493$272$24
44 years$2,400$1,432$820$455$247$21
45 years$2,320$1,366$770$420$224$17
46 years$2,244$1,303$723$388$203$15
47 years$2,172$1,244$680$359$185$13
48 years$2,102$1,187$639$331$168$11
49 years$2,036$1,134$600$306$152$9
50 years$1,972$1,083$564$283$138$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $2,020,000, adding $5,377 every year, while hoping to spend $59,864 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: 62/9/29 Blend
60$2,020,000$2,020,000$2,020,000$2,020,000
61$2,231,586$2,124,526$2,093,216$2,352,225
62$2,395,513$2,164,933$2,099,644$2,475,325
63$2,574,154$2,205,314$2,104,281$2,602,737
64$2,768,947$2,245,603$2,107,004$2,740,607
65$2,981,474$2,285,732$2,107,683$2,889,971
66$3,213,477$2,325,626$2,106,183$3,051,972
67$3,466,873$2,365,202$2,102,361$3,227,868
68$3,743,772$2,404,375$2,096,068$3,419,050
69$4,046,498$2,443,051$2,087,147$3,627,050
70$4,377,609$2,481,129$2,075,435$3,853,556
71$4,739,923$2,518,501$2,060,759$4,100,431
72$5,136,539$2,555,053$2,042,940$4,369,731
73$5,570,875$2,590,659$2,021,787$4,663,720
74$6,046,691$2,625,188$1,997,103$4,984,896
75$6,568,129$2,658,497$1,968,682$5,336,015
76$7,139,751$2,690,437$1,936,305$5,720,114
77$7,766,581$2,720,844$1,899,747$6,140,543
78$8,454,153$2,749,546$1,858,769$6,600,995
79$9,208,562$2,776,359$1,813,123$7,105,543
80$10,036,521$2,801,086$1,762,549$7,658,677
81$10,945,426$2,823,519$1,706,774$8,265,350
82$11,943,422$2,843,434$1,645,513$8,931,020
83$13,039,483$2,860,594$1,578,470$9,661,707
84$14,243,493$2,874,746$1,505,332$10,464,049
85$15,566,344$2,885,623$1,425,775$11,345,363
86$17,020,030$2,892,938$1,339,457$12,313,716
87$18,617,769$2,896,388$1,246,025$13,378,005
88$20,374,121$2,895,650$1,145,106$14,548,035
89$22,305,127$2,890,383$1,036,313$15,834,619
90$24,428,460$2,880,221$919,240$17,249,676
91$26,763,591$2,864,781$793,463$18,806,346
92$29,331,975$2,843,652$658,541$20,519,117
93$32,157,245$2,816,401$514,011$22,403,958
94$35,265,446$2,782,566$359,392$24,478,475
95$38,685,271$2,741,661$194,181$26,762,077
96$42,448,334$2,693,168$17,852$29,276,157
97$46,589,470$2,636,539$0$32,044,301
98$51,147,062$2,571,195$0$35,145,210
99$56,163,400$2,496,521$0$38,564,160
100$61,685,083$2,411,868$0$42,327,398